Technology

Enterprise Resource Planning Software Market is expected to generate a revenue of USD 79.25 Billion by 2031, Globally, at 7.86% CAGR: Verified Market Research®

Published

20 hours ago

November 22, 2024

Verified Market Research® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, “Enterprise Resource Planning Software Market Size and Forecast,” aimed at delivering crucial insights to business leaders and industry professionals who are driving digital transformation across organizations globally.

LEWES, Del., Nov. 22, 2024 /PRNewswire/ — The Global Enterprise Resource Planning Software Market Size is projected to grow at a CAGR of 7.86% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 45.7 Billion in 2024 and is expected to reach USD 79.25 Billion by the end of the forecast period.

The ERP Software Market is experiencing rapid growth as companies seek to streamline operations, enhance decision-making, and improve productivity. This report delves deep into current market trends, technological advancements, and emerging opportunities within the ERP landscape. It offers a detailed analysis of the leading software vendors, innovative solutions, and industry verticals that are revolutionizing the way businesses operate.

Key Insights and Opportunities:

Comprehensive Market Overview: Gain a detailed understanding of the ERP Software Market, including market size, growth projections, and key drivers shaping the industry. The report provides a thorough analysis of current market conditions, helping industry stakeholders identify potential areas for growth and investment.Technology Trends and Innovations: Discover how advancements in cloud-based ERP solutions, AI-driven automation, and advanced analytics are redefining ERP capabilities. This section covers the latest technologies and software developments that are enabling companies to optimize resource planning, reduce operational costs, and drive better business outcomes.Competitive Landscape: A detailed assessment of major players in the ERP Software Market, including their product portfolios, market share, strategic initiatives, and competitive strategies. Learn how top-tier vendors are differentiating themselves in a competitive market and uncover opportunities for collaboration or acquisition.Industry-Specific Insights: Explore ERP adoption across key sectors such as manufacturing, retail, healthcare, and finance. The report highlights the unique demands of each industry and offers insights on tailored solutions that can drive sector-specific success.Regional Analysis: An in-depth breakdown of market trends across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Understand regional dynamics, growth hotspots, and how cultural and economic factors influence ERP adoption.Strategic Recommendations: Actionable insights and recommendations for business leaders, CIOs, IT directors, and decision-makers to help them navigate challenges and seize emerging opportunities. The report is designed to support strategic planning, investment decisions, and market positioning.

Why This Report Matters for Industry Leaders: The ERP Software Market is pivotal for organizations aiming to stay competitive in an increasingly digital world. Our report empowers industry leaders with a 360-degree view of the ERP ecosystem, offering the intelligence needed to make informed choices and lead in their respective markets.

Stay ahead of the curve in the ever-evolving Enterprise Resource Planning Software Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample?rid=86013

Browse in-depth TOC on “Global Enterprise Resource Planning Software Market Size“

202 – Pages
126 – Tables
37 – Figures

Report Scope

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

SAP, Oracle, Microsoft, Workday, Infor, IBM, Sage, Acumatica, IFS, and Epicor

SEGMENTS COVERED

By Enterprise Type, By Deployment, By Business Function, By End User, and By Geography

CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Global Enterprise Resource Planning Software Market Overview

Increasing Demand for Streamlined Business Operations: Global organizations are adopting ERP solutions to integrate heterogeneous systems, optimize workflows, and improve productivity. The push for operational efficiency and the elimination of manual processes drive the Enterprise Resource Planning Software Market forward. This tendency creates an increasing demand for integrated solutions that offer real-time data access, enabling faster decision-making and agility, hence driving market expansion as firms pursue enhanced competitiveness.

Adoption of Cloud-Based ERP Solutions: The transition to cloud-based solutions is transformative in the Enterprise Resource Planning Software Market. Cloud ERP systems provide scalable and economical solutions with streamlined IT infrastructure, appealing to both small and medium-sized organizations and large corporations. This transition to cloud technology facilitates effortless remote access and reduces initial expenses, hence expediting adoption. The industry experiences a substantial increase as organizations emphasize adaptability and ongoing software enhancements.

Rise in Digital Transformation Initiatives: The worldwide emphasis on digital transformation has increased the necessity for ERP software that facilitates comprehensive digitalization. Organizations are progressively allocating resources to ERP systems to enhance their IT infrastructures, elevate client experiences, and maintain competitiveness. This factor drives the Enterprise Resource Planning Software Market as companies acknowledge ERP’s capability in leveraging data analytics, artificial intelligence, and Internet of Things integrations, resulting in expedited return on investment and enhanced competitive advantage.

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High Implementation and Maintenance Costs: Despite its advantages, many organizations, particularly SMEs, may find the upfront expenditures of deploying and maintaining ERP systems prohibitive. The intricacy of ERP implementation, coupled with training and customisation costs, may dissuade certain organizations from making an investment. The financial burden affects the expansion of the Enterprise Resource Planning Software Market, as firms consider the significant initial and recurring expenses in relation to expected long-term benefits.

Data Security and Privacy Concerns: The growing dependence on cloud-based ERP systems presents substantial data security and privacy problems, which continue to hinder the Enterprise Resource Planning Software Market. Companies encounter difficulties in protecting confidential data from cyber-attacks and breaches. Security issues can impede adoption rates, as firms exercise caution in moving vital data to ERP platforms without robust cybersecurity controls.

Integration Challenges with Existing Systems: Integrating ERP software with historical systems and current platforms can provide considerable obstacles, impacting the overall efficiency and success of the installation. Companies frequently face compatibility challenges, resulting in delays and increased expenses. The integration challenges serve as a constraint in the Enterprise Resource Planning Software Market, as firms emphasize seamless transitions and interoperability, potentially impeding their ERP adoption rate.

Geographical Dominance

North America dominates the Enterprise Resource Planning Software Market, propelled by early technology adoption, robust IT infrastructure, and substantial investment in digital transformation. This dominance fosters innovation, compelling providers to create sophisticated ERP solutions. Furthermore, the Asia-Pacific region is seeing tremendous development driven by industrial expansion, the technological adoption by SMEs, and a flourishing e-commerce sector. These dynamics influence global market expansion, fostering both rivalry and collaboration opportunity.

Key Players

The “Global Enterprise Resource Planning Software Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are SAP, Oracle, Microsoft, Workday, Infor, IBM, Sage, Acumatica, IFS, and Epicor.

Enterprise Resource Planning Software Market Segment Analysis

Based on the research, Verified Market Research has segmented the global Enterprise Resource Planning Software Market into Enterprise Type, Deployment, Business Function, End-User and Geography.

Enterprise Resource Planning Software Market, by Enterprise TypeSmall & Medium Enterprises (SMEs)Large EnterprisesEnterprise Resource Planning Software Market, by DeploymentCloudHybridOn-premisesEnterprise Resource Planning Software Market, by Business FunctionFinancial ManagementHuman Capital ManagementSupply Chain ManagementCustomer ManagementEnterprise Resource Planning Software Market, by End-UserManufacturingBFSIIT &TelecomRetail & Consumer GoodsHealthcare & Life SciencesTransportation & LogisticsGovernmentEnterprise Resource Planning Software Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America

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Technology

PASHA Holding forges global connections at COP29

Published

2 hours ago

November 23, 2024

BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — PASHA Holding, a leading Azerbaijani company, successfully participated at COP29, reaffirming its dedication to climate action. As an Impact Partner at the event, PASHA Holding actively engaged in meaningful discussions, collaborated with global stakeholders, and shared its vision for a sustainable future.

The holding’s presence included a tailored booth in the Green Zone, alongside multiple thought-provoking sessions led by PASHA Holding companies, including PASHA Bank, Kapital Bank, PASHA Insurance, PASHA Life, AgroDairy, and PASHA Real Estate. These sessions addressed critical issues such as climate finance, sustainable agriculture, and the role of private sector leadership in fostering inclusive green transitions.

Through its participation, PASHA Holding leveraged the opportunity to exchange ideas, build relationships with regional and global peers, and learn from diverse experiences in tackling climate challenges. By engaging with stakeholders from government, international organizations, and the private sector, PASHA Holding enhanced its capacity to drive sustainable development initiatives in Azerbaijan and beyond.

Aytaj Mukhtazada, Head of PR and Communications at PASHA Holding, remarked:

“COP29 has been an extraordinary platform for us to amplify our sustainability vision and forge valuable connections. The insights gained and partnerships established here will enable us to align our strategies with global climate objectives while addressing the unique needs of our region. This experience underscores the importance of collaboration in creating impactful, long-term solutions to the challenges we all face.”

Key elements of PASHA Holding’s sustainability strategy include minimizing the environmental impact of its own operations, investing in projects that support the transition to net zero, and investing in technological innovation to address the challenges presented by climate change. In the near future, the group plans to conduct comprehensive diagnostics and gap analysis across its subsidiaries to set specific goals to decrease our carbon footprint, including supply chain, support the customers in their transition journeys and increase investments in green initiatives. Additionally, PASHA is committed to empowering its stakeholders through education and collaboration, ensuring that sustainability is embedded across the wider economy. These plans include supporting the development of a sustainable SME landscape in the country, aiding farmers in their green transition, and supporting innovation for developing decarbonization solutions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pasha-holding-forges-global-connections-at-cop29-302314735.html

SOURCE PASHA Holding

Technology

Global Times: China vows to promote steady growth of foreign trade

Published

3 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People’s Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

Meanwhile, at the same press conference, the vice commerce minister highlighted China’s capacity in dealing with external shocks in the first explicit, publicly known response by a senior commerce official to the impact of the US’ potential 60 percent tariffs on Chinese imports. He stressed tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world.

The press conference came after MOFCOM, together with the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People’s Bank of China and the General Administration of Customs rolled out nine measures to support foreign trade, involving support and guidance in insurance, financing, cross-border trade settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Analysts noted that the latest move will further enhance the confidence of Chinese foreign trade enterprises, thereby injecting a stable and strong impetus to economic development, helping the country navigate the complexities of the global market.

Policy support

During the press conference, Chinese Vice Commerce Minister Wang Shouwen noted that the policy is aimed at responding to changes in the international trade situation and promoting solutions to practical difficulties faced by foreign trade enterprises in financing and maritime transport.

The raft of policy measures aimed at promoting the steady growth of foreign trade was deliberated and adopted by a State Council executive meeting on November 8.

The Ministry of Commerce on Thursday unveiled the policy measures in a notice. Among the nine specific measures, financial institutions are encouraged to increase financing support for micro, small and medium-sized companies based on market-oriented and law-based principles.

Efforts should be made to optimize cross-border trade settlement, promote the development of cross-border e-commerce, expand agricultural product exports, and support the imports of key equipment and energy resources, said the notice.

The overall situation of China’s foreign trade is relatively optimistic, but at the same time we should also see that uncertainties continue to accumulate. Maintaining stable growth in foreign trade and sustained improvement in competitiveness cannot be separated from policy support, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said on Friday.

“The timely joint efforts by five Chinese departments enhanced the confidence and expectations of Chinese foreign trade enterprises, and the measures will effectively help address problems of current foreign trade and future uncertainties,” Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Friday.

Stable growth in foreign trade can provide more impetus for the domestic economy. The nine measures are part of a package of policy measures to inject growth momentum and confidence into stabilizing the economy, which will help realize the country’s annual economic targets, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said on Friday.

“Consumption, investment, exports and market sentiment all improved in October, and this trend is highly likely to continue in the last two months of the year, as the confidence of enterprises and consumers has been shored up thanks to the support policies,” Wang Peng told the Global Times.

Resilient against external shocks

At the press conference on Friday, Wang Shouwen also stressed that China has the capacity in dealing with external shocks largely owing to its resilient and vibrant economy that has great potential in a response to a question on the impact of the US’ potential 60 percent tariffs on Chinese imports.

China is building a “dual circulation” development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other. We are capable of resolving and withstanding the impact of external shocks, the official told reporters.

Wang Shouwen noted that history has also shown that the imposition of tariffs on China by a country does not solve the problem of its own trade deficit, on the contrary, it pushes up the prices of the country’s imports from China as well as from other countries.

This is because the tariffs are ultimately paid for by the consumers and the end-users of the importing country, which inevitably leads to an increase in the prices paid by consumers and an increase in the costs to the users, which also leads to inflation, the vice commerce minister further elaborated.

The vice commerce minister said that China and the US are the two largest economies in the world, and have strong complementarities. We believe that if China and the US can maintain a stable, healthy and sustainable development trend in their economic and trade relations, it will be beneficial to both the Chinese people and the American people, as well as the people of all countries in the world, and this is also what the international community expects, he said.

China is willing to engage in dialogue with the US on the basis of the principles of mutual respect, peaceful coexistence and win-win cooperation, in a bid to expand areas of cooperation, manage differences, and promote the stability of the bilateral trade and economic and trade relationship, Wang Shouwen said, noting that China will also firmly safeguard its own sovereignty, security and development interests.

Chinese companies have advantages in ordering, transportation, warehousing and other export-related areas that are difficult for other countries to replace, due to their complete supply chain and high production efficiency, Li said.

“Moreover, the country’s economic resilience provides enough market size to address some of the external risks. In particular, China has continued to promote new dynamics in foreign trade and new quality productive forces, which will cultivate new international competitive advantages,” Li noted.

“Years of China-US trade and investment have made the two sides interdependent. In addition to providing US consumers with cost-effective products, China’s exports of its intermediate products have become embedded in the US supply chain and have become part of the competitiveness of many US industries,” Li said, noting that the US needs to maintain rationality in its economic and trade policy toward China.

View original content:https://www.prnewswire.com/news-releases/global-times-china-vows-to-promote-steady-growth-of-foreign-trade-302314725.html

SOURCE Global Times

Technology

ZICC: Closer China- Honduras Ties

Published

3 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Renato Florentino, vice president of Honduras, accepted an exclusive interview with ZICC in Wuzhen during the 2024 World Internet Conference Wuzhen Summit. He said that China’s advancements in transportation, communication, and computing impressed him a lot. “We hope to continue to promote the cooperation between Honduras and China and maintain close cooperative relations,” he said.

SOURCE ZICC