India Enterprise Resource Planning (ERP) Market to be dominated by Manufacturing Industry through FY2028
Growing adoption of ERP
solutions by organizations and the booming IT industry is expected to drive the
demand for the India Enterprise resource planning Market in the forecast
period, FY2024-FY2028.
According to TechSci Research
report, “India Enterprise resource planning Market By Field Strength (High- By Region, Competition
Forecast & Opportunities, FY2028", the India enterprise resource planning
market is anticipated to witness impressive growth during the forecast period,
FY2024-FY2028. Factors such as rapid technological advancements and the rise in
the demand for data-driven decision-making solutions are primarily driving the
market demand. Enterprise resource planning is software that is used to manage
the company's financial, supply chain, manufacturing, reporting, operations,
and human resource activities. It brings all the different processes together
under a single platform and offers data connectivity, productivity tools, and
e-commerce and customer engagement solutions. The enterprise resource planning
solutions drive the optimal performance of the organizations and increase the
productivity of employees.
However, concerns regarding
the confidential data loss and the high implementation cost of ERP solutions
may restrain the India enterprise resource planning market growth in the
forecast period.
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The India enterprise resource
planning market is segmented into component, deployment type, function, end
user, enterprise, regional distribution, and competitive landscape. Based on component, the
market is divided into software and services. The software segment is expected
to capture the highest market share in the forecast period, FY2024-FY2028. The
increased adoption of enterprise resource planning software in organizations to
manage and store the data is driving the segment demand. Also, the integration
of big data analytics technology and the growing focus on providing a
personalized experience to end-users are expected to influence the market
demand in the next five years.
Based on deployment type, the
market is bifurcated into on-premises and cloud. The on-premises deployment
model is expected to hold the largest market share in the forecast period. The
on-premises-based ERP solutions provide enterprises with an easier way to
manage their operation and resources.
Based on function, the market
is divided into finance, human resource, customer management, inventory
management, supply chain, and others. The financial management solutions are
expected to account for a significant market share in the forecast period.
Enterprise resource planning software offers several features such as
streamlined business process, budgeting, planning, forecasting, and others. The
companies offering financial services have become reliant on solutions that can
comply with government data, accountability regulations, and operations.
Based on end user, the market
is divided into manufacturing, BFSI, healthcare, retail, government &
utilities, IT & telecom, and others. The manufacturing industry is among
the largest end-user of enterprise resource planning software. The government
of India is introducing initiatives and attracting foreign direct investments
to support the manufacturing sector of the country. Such as, in FY2021, India
received funds worth US$ 30 billion, and the government approved the PLI scheme
worth Rs. 26,058 crores for the auto and drone industry. The growing manufacturing
industry is expected to fuel the demand for enterprise resource planning
solutions that can increase the operational efficiency of organizations.
Based on the enterprise, the
market is divided into medium, large, and small. Large enterprises are expected
to capture the highest market share in the forecast period. The need for the
central collection of data under wide distribution and increased operational
efficiency is expected to drive the demand for large enterprises. Moreover, the
ability of enterprise resource planning solutions to manage the central
organization and its subsidiaries is further expected to contribute to the
market growth.
Major market players
operating in the India enterprise resource planning market are:
·
IBM
India Pvt Ltd
·
SAP
India
·
Oracle
India Private Limited
·
The
Sage Group India
·
Microsoft
India Private Limited
·
Infor
(India) Private Limited
·
Epicor
Software India Private Limited
·
ESI
Software (India) Private Limited
·
Workday,
Inc.
·
Syspro
Software Company
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“The emergence of the
cloud-based ERP solutions, which allows the enterprises to store the data on
shared computing resources, is expected to create new growth avenues for India
enterprise resource planning market. They allow the organizations to upload and
access data on any device in real-time and help companies share the information
across different divisions. Cloud-based solutions also lower the upfront costs
to purchase infrastructure and give the business flexibility and scalability to
handle their operations efficiently. Furthermore, the rise in the number of
start-ups offering enterprise resource planning solutions at affordable rates
and the growing IT industry is expected to propel the growth of India
enterprise resource planning market till FY2028” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“India Enterprise
Resource Planning Market By Component (Software and Services), By Deployment
Type (On-Premises and Cloud), By Function (Finance, Human Resource, Customer
Management, Inventory Management, Supply Chain, Others), By End User
(Manufacturing, BFSI, Healthcare, Retail, Government & Utilities, It &
Telecom, Others), By Enterprise (Medium, Large and Small), By Region, Competition
Forecast & Opportunities, FY2028”, has evaluated the future
growth potential of India enterprise resource planning market and provides
statistics & information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India enterprise resource planning market.
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