LONDON--(BUSINESS WIRE)--Market research company Technavio has released new reports on the impact of enterprise applications on the SMEs and BFSI sector. The research firm expects the enterprise resource planning (ERP) software market to register a CAGR of over 9% by 2023.
The increasing demand for ERP software from SMEs and BFSI segments, rise in demand for cloud-based ERP, and the increased operational efficiency using ERP have been identified as critical factors behind the exceptional growth of this market. On-premise and cloud-based ERP are the two type segments in the enterprise resource planning software market.
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Few other reports from Technavio’s catalog on the IT applications for enterprises are:
Enterprise Performance Management Application Market
The enterprise performance management market is expected to grow by USD 2.08 billion over the forecast period. Industries generate a high volume of varied and sensitive data, which has prompted governments across the world to impose regulations pertaining to data collection, utilization, and storage. To comply with such regulations, organizations are leveraging EPM applications to extract information pertaining to the regulations in a standardized format and store it in a central location. For instance, AirAsia Group Bhd recently implemented EPM software to manage its global account reconciliation. This software helps the organization to develop, manage, and publish its financial, regulatory, and management reports. Thus, the need to comply with changing regulations will drive the growth of the market. Get Free Sample Report
Global Enterprise Data Management Market
With an expected CAGR of close to 12%, the global enterprise data management market is estimated to grow by over USD 57 billion during 2019-2023. The process optimization and operational efficiency of EDM software is one of the major factors driving the growth of the enterprise data management market. The implementation of EDM solutions enables the collection, management, organization, and storage of organizational data, and subsequently improves usability and accessibility. Get Free Sample Report
Global Enterprise Labeling Software Market
The market size of the global enterprise labeling software market is expected to grow by USD 35.35 million by 2023. The growth of the enterprise labeling software market can be attributed to factors such as the rise in adoption of enterprise labeling and the increasing demand for dynamic labeling. Get Free Sample Report
Technavio’s Research analysts have published numerous reports focusing on the latest developments. Our continuously growing report library offers the latest insights on several reports in addition to the above-listed reports.
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