India Enterprise Resource Planning (ERP) Market Overview, 2029

India Enterprise Resource Planning (ERP) Market Overview, 2029

Government efforts such as the ""Make in India"" program and the Digital India push have accelerated the adoption of Enterprise Resource Planning (ERP) systems across many industries in the country. These efforts seek to improve local manufacturing capabilities and expedite digital transformation, in line with the overarching aims of economic growth and technical advancement. As a result, firms are increasingly relying on ERP solutions to streamline operations, increase productivity, and stay competitive in the global economy. In tandem, events like the ""Digital Transformation Summit"" and the ""Manufacturing Innovation Summit"" bring industry professionals together to present and examine emerging technologies and trends. These events provide vital insights into the changing world of ERP solutions, allowing stakeholders to stay current on advancements, network, and form strategic alliances. India's Enterprise Resource Planning (ERP) market stands apart from its regional contemporaries. While China has a larger and more mature Enterprise Resource Planning (ERP) market controlled by domestic providers, India is the leader in terms of market size and adoption rate in Southeast Asia. This underscores India's expanding status as a centre of technology innovation and digital transformation, which is driving widespread adoption of ERP solutions across multiple industries.

According to the research report “India Enterprise Resource Planning (ERP) Market Research Report, 2029,"" published by Actual Market Research, the India Enterprise Resource Planning (ERP) market is expected to grow with more than 19% CAGR from 2024 to 2029. The expansion of the Small and Medium Enterprise (SME) sector has served as a significant impetus for the demand for ERP solutions. Small and medium-sized enterprises (SMEs), which account for a sizable share of India's economy, are looking for cost-effective and user-friendly ERP solutions to boost productivity and scalability. With the introduction of cloud-based ERP platforms and the availability of specialised solutions for SMEs, these businesses may now access advanced technology that was previously reserved for larger enterprises, resulting in increased adoption across the sector. Despite the benefits of ERP systems, data security concerns are a significant challenge, especially given the growing reliance on cloud-based solutions. Security breaches and data privacy rules, both domestic and international, highlight the significance of having strong security measures in ERP platforms. Organisations must handle these obstacles carefully in order to protect sensitive data while taking advantage of cloud-based ERP solutions. Integrating old systems with current ERP solutions presents an additional challenge for firms undergoing digital transformation. To minimise disruptions to corporate operations, system integration requires careful planning and execution due to the complexities and expenses involved. However, overcoming these hurdles is critical for realising ERP systems' full potential for promoting efficiency and innovation within firms.

ERP solutions encompass comprehensive software systems designed to integrate and streamline various business processes within organisations. These systems typically include modules for finance & accounting, sales & marketing, operations, and other functions. The finance & accounting module aids in recording, monitoring, and analysing financial transactions, ensuring compliance and providing visibility into financial performance. Sales & marketing modules optimise sales pipelines, track leads, automate campaigns, and analyse customer data. Operations modules manage production planning, inventory, procurement, supply chain, manufacturing, and quality control. These solutions can be deployed on-premise, where the software and infrastructure are maintained locally, or in the cloud, hosted on remote servers. End-users across industries like manufacturing, IT & telecom, transportation & logistics, retail & consumer goods, BFSI, healthcare & life sciences, and others benefit from ERP systems tailored to their specific needs, facilitating efficient operations and improved business outcomes.

In terms of legislation and regulations, the emphasis on data localization and the implementation of data protection measures, such as the Data Protection Bill, have important consequences for ERP companies. Compliance with these requirements is critical, as failure to follow data privacy laws may result in serious penalties and reputational damage. On the other hand, government incentives targeted at increasing digital adoption create opportunities for ERP suppliers to provide compliant solutions, hence stimulating industry growth. The market for Enterprise Resource Planning (ERP) solutions is expanding rapidly, particularly as the industrial sector grows. This boom in industrial activity is expected to increase demand for powerful ERP solutions, as businesses seek more effective ways to manage their operations, streamline procedures, and increase productivity. With increased internet penetration, aided by improved availability even in smaller towns, there is a fertile field for the adoption of cloud-based ERP solutions. This accessibility to cloud technology not only democratises access to sophisticated ERP solutions, but it also provides scalability and flexibility, which is especially appealing to organisations in a variety of geographical locations and sizes.

In 2021, Microsoft Dynamics 365 experienced significant growth in the Indian market, reflecting the country's expanding trend of digital transformation. This growth demonstrates India's growing reliance on advanced enterprise resource planning (ERP) technologies to optimise operations and boost efficiency. As businesses looked to update their operations, Dynamics 365 emerged as a popular alternative due to its extensive range of applications and integration possibilities. The year 2022 saw a substantial shift in attention towards cloud-based ERP adoption across a variety of businesses. Recognizing the advantages of cloud-based solutions, Indian firms have rapidly shifted to ERP systems hosted on cloud platforms for increased flexibility, scalability, and accessibility.This transition not only enabled remote work possibilities, but it also resulted in increased productivity and cost savings for enterprises of all kinds. In 2023, there was a greater emphasis on industry-specific functionality and data security compliance in the Indian ERP ecosystem. As organisations sought bespoke solutions to fit their individual operational needs, ERP providers responded by providing specialised modules and capabilities for areas such as manufacturing, healthcare, and finance. Furthermore, as data privacy and security concerns grew, firms deploying ERP systems prioritised strict compliance criteria.
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Enterprise Resource Planning (ERP) market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Offerings
• Solutions
• Services

By Business Function
• Finance & Accounting
• Sales & Marketing
• Operations
• Others

By Development
• Cloud
• On-premise

By End User
• Manufacturing
• IT & Telecom
• Transportation & Logistics
• Retail & Consumer Goods
• BFSI
• Healthcare & Life Sciences
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Enterprise Resource Planning (ERP) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Enterprise Resource Planning (ERP) market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Offerings
• Solutions
• Services

By Business Function
• Finance & Accounting
• Sales & Marketing
• Operations
• Others

By Development
• Cloud
• On-premise

By End User
• Manufacturing
• IT & Telecom
• Transportation & Logistics
• Retail & Consumer Goods
• BFSI
• Healthcare & Life Sciences
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Enterprise Resource Planning (ERP) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.