ASIA-PACIFIC ENTERPRISE RESOURCE PLANNING MARKET 2022-2028
MARKET OUTLOOK
Triton Market Research’s report on the Asia-Pacific enterprise resource planning market infers that the market is expected to progress at a CAGR of 8.86% during the forecasted phase 2022-2028. India, Australia & New Zealand, China, South Korea, ASEAN countries, Japan, and Rest of APAC outline the studied market in this region.
In India, the number of SMEs has grown significantly in the past few years, leading to the high demand for enterprise resource planning solutions. Estimates suggest that about 60% of the SMEs have employed ERP solutions in their operations. This has encouraged various vendors to innovate their products to gain a higher market share in the country. For instance, SAP announced AI-enabled ERP cloud solutions. Another company, Kellogg’s India, stated its plan to shift from traditional ERP to SAP S/4 HANA. Thus, these factors are expected to drive the enterprise resource planning market on a progressive path.
Likewise, small and medium enterprises are supporting the development of the ERP market in South Korea. For instance, Pipol and DEEX collaborated to strengthen Microsoft Dynamics in the Asian market, providing cost-effective and innovative ERP solutions. Enterprise resource planning software deployment has emerged as an ideal option for a smooth business transformation. Moreover, LG Group launched a next-generation ERP to gain a competitive edge over international firms like SAP and Oracle. Therefore, these factors are anticipated to offer new opportunities to the South Korean enterprise resource planning market.
COMPETITIVE OUTLOOK
The major companies in the enterprise resource planning consist of IQMS, Epicor Software Corporation, Oracle Corporation, Ramco Systems Limited, Microsoft Corporation, SAP SE, Qad Inc, and Plex Systems Inc.
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