Latin America Enterprise Resource Planning (Erp) Market: Forecast Analysis 2024-2032
Triton Market Research’s report estimates the Enterprise Resource Planning (ERP) market in Latin America to advance with a CAGR of 9.62% during the forecasting years 2024-2032.
The enterprise resource planning market in Latin America is witnessing substantial growth, owing to increasing digital transformation initiatives and the need for integrated business processes. According to the World Bank, economic activities in the region are showing positive trends, which is boosting investments in technological infrastructure, including ERP systems. The GDP growth rate in Latin America and the Caribbean is projected to rebound in 2024, reflecting the region’s recovery from previous economic downturns and a growing emphasis on enhancing operational efficiencies across various industries. Moreover, the World Trade Organization highlights the region’s expanding trade activities, which necessitate robust enterprise resource planning solutions to manage complex supply chains and improve business agility.
The countries in the report include Brazil, Mexico, and Rest of Latin America.
Mexico is a leader in the region, accounting for $650.59 million in 2023
Mexico’s GDP is projected to grow by 2.1% in 2024, according to Banco de México. This steady economic growth provides a conducive environment for investments in digital transformation, including ERP systems.
The government is actively supporting digitalization efforts through various initiatives. For example, the Economic Information System (SIE) offers extensive data and resources to support technological advancements in businesses. This encourages companies to invest in modern enterprise resource planning solutions to keep up with digital transformation trends.
Significant sectors such as manufacturing and services are experiencing a robust demand for ERP solutions. The Economic Information System highlights that sectors crucial to Mexico’s economy are progressively adopting advanced ERP solutions to optimize their operations.
Market Forecast for Brazil
The enterprise resource planning market’s growth in Brazil is fueled by ongoing digital transformation initiatives and economic policies aimed at enhancing productivity and efficiency. According to the World Bank, Brazil’s GDP was approximately $1.6 trillion in 2022, reflecting a growing economy that supports technological advancements and digital infrastructure improvements. Additionally, investments in the digital economy are helping drive the adoption of ERP solutions across various sectors. The ERP market’s development is further supported by the government’s focus on modernizing business processes and integrating advanced technologies to boost competitiveness.
The market is sectioned into application, vertical, deployment, and enterprise size. The application segment is branched into supply chain, finance, inventory management, human resource, customer management, manufacturing module, and other applications.
Supply chain management (SCM) applications encompass a range of functions designed to monitor and coordinate the movement of products from manufacturing to retail. These applications include supply chain planning, demand planning, vendor-managed inventory, supplier management, strategic sourcing, and warehouse management, among others. Enterprises utilize ERP SCM modules to streamline and simplify their supply chain processes.
The major firms listed in the market comprise IBM Corporation, IFS AB, Microsoft Corporation, Infor Inc, and Oracle Corporation.
International Business Machines Corporation (IBM) is a comprehensive information technology (IT) firm. IBM provides consulting, implementation, cloud and cognitive services, enterprise software and systems, and financing solutions. Its clientele spans public sectors, financial services, industry, communications, and distribution. IBM operates globally, with a presence in Latin America, and is headquartered in New York, US.
Latest from the Company:
In May 2023, IBM and SAP integrated IBM Watson® technology into SAP’s solutions to offer AI-driven insights for effective user experience.
- 1. Latin America Enterprise Resource Planning Market - Summary
- 2. Industry Outlook
- 2.1. Impact Analysis On The Enterprise Resource Planning Market
- 2.1.1. Covid-19 Impact
- 2.2. Porter’s Five Forces Analysis
- 2.2.1. Threat Of New Entrants
- 2.2.2. Threat Of Substitutes
- 2.2.3. Bargaining Power Of Buyers
- 2.2.4. Bargaining Power Of Suppliers
- 2.2.5. Threat Of Competitive Rivalry
- 2.3. Key Buying Impact Analysis
- 2.3.1. Compatibility
- 2.3.2. Cost-effectiveness
- 2.3.3. Ease Of Use
- 2.3.4. Security
- 2.4. Key Market Strategies
- 2.4.1. Contracts & Agreements
- 2.4.2. Product Launches
- 2.4.3. Acquisitions
- 2.4.4. Business Divestments & Expansions
- 2.5. Market Drivers
- 2.5.1. Increasing Need To Develop Competitive Strategies And Real-time Decision Making
- 2.5.2. Growing Demand For Efficiency
- 2.5.3. Rapid Adoption Of Erp By Small And Medium-sized Enterprises (Smes)
- 2.6. Market Challenges
- 2.6.1. Easy Availability Of Open-source Erp Software
- 2.6.2. Rise In Common Vulnerabilities And Exposures (Cve)
- 2.6.3. Elevated Expenses Associated With Erp Solutions
- 2.7. Market Opportunities
- 2.7.1. Increase In Demand For Erp
- 2.7.2. Integration Of Erp With Big Data And Internet Of Things (Iot)
- 2.8. Analyst Perspective
- 3. Latin America Enterprise Resource Planning Market – By Enterprise Size
- 3.1. Large Enterprises
- 3.2. Medium Enterprises
- 3.3. Small Enterprises
- 4. Latin America Enterprise Resource Planning Market – By Deployment
- 4.1. On-premise
- 4.2. Cloud
- 4.3. Hybrid
- 5. Latin America Enterprise Resource Planning Market – By Application
- 5.1. Finance
- 5.2. Human Resource (Hr)
- 5.3. Supply Chain
- 5.4. Customer Management
- 5.5. Inventory Management
- 5.6. Manufacturing Module
- 5.7. Other Applications
- 6. Latin America Enterprise Resource Planning Market – By Vertical
- 6.1. Automotive
- 6.2. Retail
- 6.3. Manufacturing
- 6.4. Banking, Financial Services, & Insurance (Bfsi)
- 6.5. Government
- 6.6. It And Telecom
- 6.7. Healthcare
- 6.8. Military And Defense
- 6.9. Other Verticals
- 7. Latin America Enterprise Resource Planning Market – By Country Outlook
- 7.1. Brazil
- 7.1.1. Brazil Enterprise Resource Planning Market Forecast & Prospects
- 7.2. Mexico
- 7.2.1. Mexico Enterprise Resource Planning Market Forecast & Prospects
- 7.3. Rest Of Latin America
- 7.3.1. Rest Of Latin America Enterprise Resource Planning Market Forecast & Prospects
- 8. Competitive Landscape
- 8.1. Epicor Software Corporation
- 8.1.1. Overview
- 8.1.2. Product Portfolio
- 8.1.3. Key Strengths
- 8.1.4. Key Challenges
- 8.2. Ibm Corporation
- 8.2.1. Overview
- 8.2.2. Product Portfolio
- 8.2.3. Key Strengths
- 8.2.4. Key Challenges
- 8.3. Ifs Ab
- 8.3.1. Overview
- 8.3.2. Product Portfolio
- 8.3.3. Key Strengths
- 8.3.4. Key Challenges
- 8.4. Infor Inc
- 8.4.1. Overview
- 8.4.2. Product Portfolio
- 8.4.3. Key Strengths
- 8.4.4. Key Challenges
- 8.5. Microsoft Corporation
- 8.5.1. Overview
- 8.5.2. Product Portfolio
- 8.5.3. Key Strengths
- 8.5.4. Key Challenges
- 8.6. Oracle Corporation
- 8.6.1. Overview
- 8.6.2. Product Portfolio
- 8.6.3. Key Strengths
- 8.6.4. Key Challenges
- 8.7. Qad Inc
- 8.7.1. Overview
- 8.7.2. Product Portfolio
- 8.7.3. Key Strengths
- 8.7.4. Key Challenges
- 8.8. Sap Se
- 8.8.1. Company Overview
- 8.8.2. Product Portfolio
- 8.8.3. Key Strengths
- 8.8.4. Key Challenges
- 8.9. Syspro Ltd
- 8.9.1. Company Overview
- 8.9.2. Product Portfolio
- 8.9.3. Key Strengths
- 8.9.4. Key Challenges
- 8.10. Workday Inc
- 8.10.1. Company Overview
- 8.10.2. Product Portfolio
- 8.10.3. Key Strengths
- 8.10.4. Key Challenges
- 9. Research Methodology & Scope
- 9.1. Research Scope & Deliverables
- 9.2. Sources Of Data
- 9.3. Research Methodology
- Table List
- Table 1: Latin America Enterprise Resource Planning Market, By Country Outlook, 2024-2032 (In $ Million)
- Table 2: List Of Contracts & Agreements
- Table 3: List Of Product Launches
- Table 4: List Of Acquisitions
- Table 5: List Of Business Divestments & Expansions
- Table 6: Latin America Enterprise Resource Planning Market, By Enterprise Size, 2024-2032 (In $ Million)
- Table 7: Latin America Enterprise Resource Planning Market, By Deployment, 2024-2032 (In $ Million)
- Table 8: Latin America Enterprise Resource Planning Market, By Application, 2024-2032 (In $ Million)
- Table 9: Latin America Enterprise Resource Planning Market, By Vertical, 2024-2032 (In $ Million)
- Table 10: Latin America Enterprise Resource Planning Market, By Country Outlook, 2024-2032 (In $ Million)
- Figure List
- Figure 1: Key Buying Impact Analysis
- Figure 2: Latin America Enterprise Resource Planning Market, By Enterprise Size, 2023 & 2032 (In %)
- Figure 3: Latin America Enterprise Resource Planning Market, By Large Enterprises, 2024-2032 (In $ Million)
- Figure 4: Latin America Enterprise Resource Planning Market, By Medium Enterprises, 2024-2032 (In $ Million)
- Figure 5: Latin America Enterprise Resource Planning Market, By Small Enterprises, 2024-2032 (In $ Million)
- Figure 6: Latin America Enterprise Resource Planning Market, By Deployment, 2023 & 2032 (In %)
- Figure 7: Latin America Enterprise Resource Planning Market, By On-premise, 2024-2032 (In $ Million)
- Figure 8: Latin America Enterprise Resource Planning Market, By Cloud, 2024-2032 (In $ Million)
- Figure 9: Latin America Enterprise Resource Planning Market, By Hybrid, 2024-2032 (In $ Million)
- Figure 10: Latin America Enterprise Resource Planning Market, By Application, 2023 & 2032 (In %)
- Figure 11: Latin America Enterprise Resource Planning Market, By Finance, 2024-2032 (In $ Million)
- Figure 12: Latin America Enterprise Resource Planning Market, By Human Resource (Hr), 2024-2032 (In $ Million)
- Figure 13: Latin America Enterprise Resource Planning Market, By Supply Chain, 2024-2032 (In $ Million)
- Figure 14: Latin America Enterprise Resource Planning Market, By Customer Management, 2024-2032 (In $ Million)
- Figure 15: Latin America Enterprise Resource Planning Market, By Inventory Management, 2024-2032 (In $ Million)
- Figure 16: Latin America Enterprise Resource Planning Market, By Manufacturing Module, 2024-2032 (In $ Million)
- Figure 17: Latin America Enterprise Resource Planning Market, By Other Applications, 2024-2032 (In $ Million)
- Figure 18: Latin America Enterprise Resource Planning Market, By Vertical, 2023 & 2032 (In %)
- Figure 19: Latin America Enterprise Resource Planning Market, By Automotive, 2024-2032 (In $ Million) 2024-2032 (In $ Million)
- Figure 20: Latin America Enterprise Resource Planning Market, By Retail, 2024-2032 (In $ Million)
- Figure 21: Latin America Enterprise Resource Planning Market, By Manufacturing, 2024-2032 (In $ Million)
- Figure 22: Latin America Enterprise Resource Planning Market, By Banking, Financial Services, & Insurance (Bfsi), 2024-2032 (In $ Million)
- Figure 23: Latin America Enterprise Resource Planning Market, By Government, 2024-2032 (In $ Million)
- Figure 24: Latin America Enterprise Resource Planning Market, By It & Telecom, 2024-2032 (In $ Million)
- Figure 25: Latin America Enterprise Resource Planning Market, By Healthcare, 2024-2032 (In $ Million)
- Figure 26: Latin America Enterprise Resource Planning Market, By Military And Defense, 2024-2032 (In $ Million)
- Figure 27: Latin America Enterprise Resource Planning Market, By Other Verticals, 2024-2032 (In $ Million)
- Figure 28: Latin America Enterprise Resource Planning Market, By Country Outlook, 2023 & 2032 (In %)
- Figure 29: Brazil Enterprise Resource Planning Market 2024-2032 (In $ Million)
- Figure 30: Mexico Enterprise Resource Planning Market 2024-2032 (In $ Million)
- Figure 31: Rest Of Latin America Enterprise Resource Planning Market 2024-2032 (In $ Million)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook