New York, May 6, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “ERP Software Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06067821 /? utm_source = GNW
The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 202.28 billion in 2025 with a CAGR of 8.1%.
The enterprise resource planning (ERP) software market is the sale of enterprise resource planning software, ERP software helps to connect the different departments of a company for a smooth flow of communication and information by providing a central database.
This central database is a shared database that collects, stores, analyzes and interprets data, allows any service to retrieve the required information at any time, and supports multiple services with ease.
Strict guidelines adopted by the UK and French governments on Internet of Things (IoT) device manufacturers break the division of regulations for ERP software. Adoption of advanced technologies such as IoT and learning automatic in almost all applications, including ERP, has resulted in a lot of fraudulent practices and the need to prevent such practices through strict regulations.
Some examples of regulations are the strict guidelines implemented by the French government and the UK government that must be followed by manufacturers of IoT devices.These strict regulations hamper market growth and prevent other companies from entering the market. ERP market.
For example, major ERP software vendors such as SAP and Oracle have been looking for ways to integrate the latest technologies, including IoT and machine learning, but strict policies that limit their product development are limiting the growth of the business. market.
One of the latest trends in the ERP software market is the integration of blockchain technology with ERP.Block chain is a time series of data managed by multiple computers belonging to multiple entities, and each data block is secured by a cryptographic code. .
ERP vendors need to keep their software up to date to maximize the added value provided to their customers. ERP integration with blockchain will create a secure platform for collaboration, through which records systems can be freely shared with trusted parties.
For example, SAP, a software publisher, is exploring ways to effectively implement blockchain in its existing ERP. It tries to integrate blockchain with ERP to improve 3D printing and digital manufacturing.
The increasing number of cyber attacks is expected to limit the growth of enterprises in the Enterprise Resource Planning Software market during the forecast period. These attacks against ERP applications including compromise and denial of service attacks. distributed service (DDoS), adversely affect business operations.
According to Onapsis, which is a cybersecurity and ERP compliance company, ERP applications such as SAP and Oracle have a combined total of more than 9,000 security vulnerabilities.
The increased need for efficiency and transparency in business operations is expected to benefit the Enterprise Resource Planning Software Market during the forecast period as ERP enables the integration of high volume of data between multiple departments and manages the flow of information and communication throughout the organization. In addition, the use of cloud-based technologies to store and access real-time data, analytical reporting for business decisions and the need to adhere to industry standard processes already embedded in the software are also driving growth. of the market.
For example, Annabelle Candy implemented Syspro ERP, an ERP software provided by Syspro for the manufacturing and distribution industries, which allowed them to extend their marketing practices to more places and track their progress with ease.
Read the full report: https://www.reportlinker.com/p06067821/?utm_source=GNW
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