Vietnam Enterprise Resource Planning (ERP) Market To Flourish With Rising Investment In IT & Telecom Industry
Growing
industrialization supports the future growth of the Vietnam ERP Market, during
the forecast period, 2023-2027F.
According to TechSci report on, “Vietnam
Enterprise Resource Planning (ERP) Market
- By Region, Competition Forecast &
Opportunities, 2027”, Vietnam
ERP market may flourish with an impressive CAGR during the forecast period of
2023-2027, due to growing demand for internet based services to improve inter
organization functions. Rapidly increasing evolution of technology coupled with
rising use of artificial intelligence and internet of things further drive the
growth of the Vietnam ERP market in the upcoming five years. Expanding IT &
telecom industry, growing investments in the advancement of the technologies
further facilitates the growth of the Vietnam ERP market in the next five
years. Growing need for operational efficiency and transparency in various
business protocols also aid to the market growth. Rapidly growing number of
small and middle level enterprises also fuel the growth of the Vietnam ERP
market in the future five years. ERP is an enterprise resource planning
software and its related services. These services allow the user businesses to
monitor and regulate the functionalities within the organization along with
maintaining the inter-organization relation with the suppliers and customers.
ERP can also be utilized as an overall coverage of CRM functions. Growing
applications of ERP in the real estate industry, hospitality & consumer
care industries, along with healthcare industry, textile industry automotive
industry, banking sector also substantiates the growth of the Vietnam ERP
market in the forecast years through 2027F. The ERP software has multiple
adaptations and evolutions based on the kind of industry they are used in.
Purchase of property, invoicing the purchases, supplier and delivery
monitoring, facility management, customer regulations, billing & payments,
patient admissions, etc. are some of the functions of ERP. Within the
organization, the software regulates the daily attendance of the employees,
salary calculations, leave modulation, employee information data storage etc. can
be effectively taken care of using ERP. Large applications of the software and
the services of the enterprise resource planning (ERP) is the most important
factor that is aiding the growth of the Vietnam ERP market in the forecast
period.
Growth
in the outsourced services to regulate the ERP software also aids the growth of
the Vietnam ERP market in the future years. Recent pandemic and adaptation of
ERP into the healthcare sector fueled the growth of the Vietnam ERP market in
the recent years.
Browse over XX market data Figures
spread through 70 Pages and an in-depth TOC on "Vietnam ERP Market"
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The
Vietnam ERP market is segmented by component, deployment type, function, end
user, enterprise, competitional landscape, and regional distribution. Based on
component, the market is differentiated between software and services. Software
segment is anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years on the account of
growing demand for the IT integrated software to regulate the growing
industrialization in the country. Increasing investment in the advanced
technology along with the growing expenses over the incorporation of ERP
software for the business modulations further facilitate the growth of the
segment and aids the growth of the Vietnam ERP market in the next five years. Services
are anticipated to hold significant revenue shares of the market in the future five
years due to increasing outsourcing services of the enterprise resource
plannings. Small enterprises often opt for outsourced ERP implementations and
expert consultants to monitor through the software to help the business
modulation thus facilitating the growth of the Vietnam ERP market in the
forecast years. By deployment type, the market is divided between on premises
and cloud.
Based
on function, the market is further segmented into finance, human resource,
customer management, inventory management, supply chain, and others. Inventory
management is anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years due to growing demands
from the real estate and retail sector. Expanding infrastructure industry, and
consumer retail sector further facilitate the growth of the Vietnam ERP market
in the future five years.
By
end user, the market is fragmented into manufacturing, BFSI, healthcare,
retail, government & utilities, it & telecom, and others. Based on
enterprise, the market is bifurcated into medium, large, and small enterprises.
The market analysis also studies the regional segmentation to devise regional
market segmentation, divided among Northern region, Central region, and Southern
region.
A
partial list of major market players of the Vietnam ERP market includes :
·
IBM Vietnam Company
·
SAP Vietnam
·
Oracle Vietnam Pte Ltd
·
Sage Software Asia Pte Ltd
·
Microsoft Vietnam
·
Infor Vietnam Inc
·
Epicor Software Vietnam Company Limited
·
ESI Services Vietnam Co., Ltd
·
Workday, Inc.
·
Syspro Software Company
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“Increasing investments in the incorporation of ERP in the industrial
sector and multiple enterprises along with the growing demand for the internet
based services for the business expansion leads the market toward futuristic
growth. After the COVID instance, ERP is also actively helping the companies
survive the pandemic by reducing reliance on human resource, enabling remote
working, automating routine processes, etc.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Vietnam ERP 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, 2027” has
evaluated the future growth potential of Vietnam ERP 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 Vietnam ERP market.
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