Issue 2 2017

8 LATIN AMERICA NEWS / Issue 2 2017 , Latin America ERP Software Market Analysis 2014-2017 & 2025 The Latin America ERP SoftwareMarket Analysis by Deployment, By Functions (Finance, HR, Supply Chain, Others), By Vertical, By End-user (Large Enterprises, MediumEnterprises, Small Enterprises) And Segment Forecasts, 2014 - 2025 report has been added to Research andMarkets’ offering. The Latin America ERP software market is expected to reach $2.73 billion by 2025, ERP applications have helped many large-scale organisations to bring clarity and visibility in their business. With rapidly growing small and medium enterprises (SMEs) and adoption of evolving technology demand in SMEs is expected to grow over the forecast period. Furthermore, rising awareness among small & medium enterprises (SMEs) and increasing need for business process efficiency and transparency aid the market growth over the forecast period. SMEs have been facing various barriers to the adoption of this technology because of expensive and less user-friendly nature of the software. Many SMEs in Brazil, Mexico, Chile and Peru are still using old IT systems to operate their business. There is a growing need for adoption of upcoming IT systems to sustain in the competitive market. enterprise resource planning software helps the operation of core business processes including sales & distribution, supply chain management, accounting, financial control and HR, which is expected to propel demand from various SMEs. The cloud deployment segment is expected to witness a significant growth rate, due to its growing adoption, although the on-premise deployment segment is anticipated to dominate the market (in terms of size) by 2025. Cloud-based applications reduce IT infrastructure cost leading to the adoption of cloud-based application among enterprises. The investment on cloud- connected mobile applications has increased as mobile owing to the growing penetration of Bring Your Own Device (BYOD) among the organisations. The vendors are developing cloud- based solutions that can be accessible via mobile platforms such as tablets and smartphones expected to influence the market growth further. The key industry participants include IBM (U.S.A.), Oracle (U.S.A.), Microsoft (U.S.A.), SAP SE (Germany), Infor (U.S.A.) and Sage Group Plc (U.K.).