Rise in need for operational efficiency & transparency in business processes, increased demand for data-driven decision-making, and increase in demand for ERP among small & medium enterprises are expected to propel the growth of the Asia-Pacific ERP software market
PORTLAND, Oregon, Aug. 15, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Asia-Pacific ERP Software Market by Deployment Model (On-premise, Cloud, and Hybrid), Business Function (Finance, Human Resource (HR), Supply Chain, Customer Management, Inventory Management, Manufacturing Module, and Others), Industry Vertical (BFSI, Healthcare, Retail & Distribution, Government & Utilities, IT & Telecom, Construction, Aerospace & Defense, and Others), and End User (Large Enterprises, Medium Enterprises, and Small Enterprises): Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the Asia-Pacific ERP software market was pegged at $9.67 billion in 2018 and is projected to reach $26.37 billion by 2026, registering a CAGR of 13.3% from 2019 to 2026.
Increased need for operational efficiency & transparency in business processes, surge in adoption of cloud & transparency in business processes, and rise in demand for data-driven decision-making have boosted the growth of the Asia-Pacific ERP software market. However, higher investment and maintenance costs hamper the market. On the contrary, increase in demand for ERP among small and medium enterprises and technological advancement in ERP are expected to create lucrative opportunities in the near future.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5398
Asia-Pacific ERP software market is divided on the basis of deployment model, business function, industry vertical, end user, and geography. Based on deployment model, the market is segmented into on-premise, cloud, and hybrid. The on-premise segment held the largest share in 2018, contributing around half of the market. This is owing to wide adoption of on-premise deployment in large enterprises, as it involves a significant investment to implement, and organizations need to purchase interconnected servers as well as software to manage the system. However, the cloud segment is projected to manifest the fastest CAGR of 15.5% during the forecast period, owing to a paradigm shift in the deployment methods from on-premise to cloud-based models.
On the basis of business function, the market is bifurcated into finance, human resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. The finance segment dominated the market in 2018, contributing around one-fifth of the market, owing to high adoption of finance module in organizations to reduce complexity in financial function and to achieve overall competency in the business. However, the HR segment is estimated to register the fastest CAGR of 18.7% during the forecast period, owing to ongoing business expansion in Asia-Pacific region which compels businesses to adopt ERP HR modules for easy integration and management of all the required information of the present and additional workforce.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5398
Based on region, the market is divided into India, Indonesia, Thailand, Singapore, Malaysia, Philippines, Vietnam, Nepal, Sri Lanka, Hongkong, Bangladesh, Cambodia, Fiji, and rest of Asia-Pacific. The market across India held the largest share, accounting for nearly one-tenth of the market, owing to large adoption of ERP among traditional end users such as manufacturing firms and retail companies, which have deployed ERP solutions. However, the market across Bangladesh is expected to register the fastest 29.5% during the study period, as the government and private sector have invested heavily in technology, owing to government's vision of digital Bangladesh.
The market players that are mentioned in the report include Synergix Technologies, Digiwinx Infotech PVT. LTD., IFS AB, Focus Softnet PTE LTD, HashMicro Pte. Ltd., Deskera, Rorko Technologies, Tigernix Pte. Ltd., 3i Infotech LTD., and Accentuate Pte. Ltd.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Similar Industry Reports:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research