Philippines Enterprise Resource Planning (Erp) Market Forecast 2022-2028
The Philippines enterprise resource planning (ERP) market is expected to register a CAGR of 12% during the forecast period, 2022 to 2028. Investments from several leading global firms in domestic business process outsourcing (BPO) operations contribute to the overall market growth of the country.
Philippines is one of the biggest contributors of enterprise resource planning in the Asia-Pacific region. ERP in the Philippines is employed to execute numerous business functions, including finance, human resources, supply chain & inventory management, etc. Moreover, several multinational companies are contributing to the market growth by extensively investing in the BPO operations of the country.
Furthermore, Philippines is a rapidly growing economy and has growing requirements in manufacturing, retail, IT & telecom, BFSI, and healthcare sectors owing to the increasing expendable income of the people. These sectors are expected to create a demand pool for versatile ERP software in the region.
Additionally, investment in cloud-connected mobile applications has grown over time. Also, there is a surge in the adoption of ERP software among government organizations, which is expected to fuel the growth of the ERP software to align revenue and optimize workflow.
Some of the leading market players include International Business Machines Corporation (IBM), Epicor Software Corporation, Accenture, JMC Technologies PTE Ltd, etc.
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