What is the new growth statistics in ERP industry ?
The global ERP market is anticipated to grow in next coming 7 years. This worldwide growing application will be in trend in the following industries - retail, public services, defense & aerospace industry. This industry is expected to be worth of 50 million dollars in 2022.
An ERP software is facilitated to perform financial activities like - cash flow management, asset management, cost and financial accounting, ledger management, invoicing and making investment portfolios. In the next coming 7 years, Finance will be the largest segment impacted by ERP industry.
ERP software manages daily operations, reporting, tracking, handling customer services and while managing all this ERP also manages to perform demand forecasting, production scheduling, real time data tracking etc. Government utilities are also taking the initiative to innovate the IT infrastructure especially in the case of Europe and USA countries.
Government utilities accounted for a significant share of the market owing to adoption of IT infrastructure. In addition, high acceptance of ERP software in North America and Europe is expected to augment growth over the next seven years.
In Asian countries, companies are booming day by day and according to the forecast period, the mounting number of enterprises are increasingly demanding in the number of ERP software. There are also the increasing number of ERP vendors.