According to the research report titled ‘GLOBAL Enterprise Resource Planning Market 2019-2027’, available with Market Study Report, global enterprise resource planning market is projected to register 7.43% CAGR through 2027.
 

As per the findings of the report, escalating demand for efficient business operations and growing requirement to formulate competitive strategies by enterprises is fostering global enterprise resource planning market growth.
 

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Rising adoption cloud-based ERP solutions is further accelerating business development. The benefit of enhanced business processes, such as manufacturing, logistics, inventory management, financial planning, payroll, billing, and sales, is stimulating the demand for ERP solutions.
 

Speaking elaborating on the negatives, security concerns regarding highly sensitive information like credit cards and financial information that gets stored by ERP solutions is a major growth barrier for the industry. Additionally, high costs of ERP and easy accessibility to open-source ERP software is decreasing the remuneration scope of the industry.
 

Based on organization size, global enterprise resource planning market is fragmented into small & medium enterprises and large enterprises. In terms of deployment, the industry is split into cloud, on-premise, and hybrid.
 

Proceeding further, on the basis of functions, the market is fragmented into human resource, finance, supply chain, inventory management, customer management, manufacturing module, and others. Lastly, the verticals segmentation comprises manufacturing, retail, BFSI, IT and telecom, government, military and defense, healthcare, and others.
 

From a geographical perspective, key regions pivotal to global enterprise resource planning market expansion are North America, Latin America, Asia-Pacific, Europe, and Middle East and Africa. Among these, Asia-Pacific industry is touted to grow a rapid pace over the forecast duration. Rising adoption of on-premise ERP software, and surging establishment of new manufacturing facilities promoting the adoption of cloud-enable ERP solutions are stimulating the regional market growth. 
 

Speaking of the competitive landscape, Francisco Partners (acquired Plex Systems Inc.), Syspro Ltd., Unit4 N.V. (acquired by Advent International Corp.), Sage Group plc, IQMS (acquired by Dassault Systèmes SE), Workday Inc., QAD Inc., Epicor Software Corp., Microsoft Corp., IFS AB, Deskera Holdings Ltd., Oracle Corp., IBM Corp., Ramco Systems Ltd., Infor Inc., and SAP SE are top contenders in global enterprise resource planning industry sphere.