LATIN AMERICA ENTERPRISE RESOURCE PLANNING MARKET 2022-2028
MARKET OUTLOOK
Triton’s research report indicates that the enterprise resource planning market in Latin America is expected to register progress at a CAGR of 6.93% during the forecast period 2022-2028. Mexico, Brazil, and Rest of Latin America outline the market in the region.
Mexico’s manufacturing sector has grown significantly over the past few years. This is mainly owing to the country’s propensity for free trade, leading to an increase in manufacturing production and assembly. Moreover, the country’s maquiladora program provides tax benefits to several international companies operating in the country. Besides, numerous retailers are increasing their investments to build new stores, which will further increase the adoption of ERP software. Therefore, all these above-mentioned factors are expected to drive the enterprise resource planning market on a progressive path.
Furthermore, the growing truck market is creating several opportunities for the enterprise resource planning market in Argentina. This is mainly on account of digital services supporting vendors to gain a competitive edge. The industry has grown significantly over the years, with revenue accounting for almost $120 billion. Besides, the country has a wide online retail sector, with companies like Amazon expanding their operations. Thus, such developments hold the potential to supplement the growth of the enterprise resource planning market.
COMPETITIVE OUTLOOK
Major companies in the enterprise resource planning market are IFS AB, IBM Corporation, IQMS, Unit4 NV, SAP SE, Oracle Corporation, and Deskera Holdings Ltd.
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