With the advances of cloud computing, the ERP in software-as-a-service (SaaS) model is fast becoming a cost-effective way of delivering business applications, especially in small and medium enterprises. Different type of business models has numerous complicated processes that lowers operational efficiency and further raises the cost of operations. With the adoption of ERP software, businesses can experience enhanced co-ordination between teams, which ultimately helps to increase their efficiency.
Moreover, with the help of ERP software, processes can be automated, which ultimately lowers the cost of operations. Owing to such numerous benefits of ERP software, businesses are increasingly adopting these platforms, which is anticipated to drive the growth of the Southeast Asia ERP software market. The market, which registered a revenue of USD 1580.0 Million in 2019 and is further estimated to reach USD 2884.8 Million in 2024 by growing with a CAGR of 15.36% during the forecast period, i.e., 2020-2024.
Research Nester published a report titled “Southeast Asia ERP Software Market: Demand Analysis & Opportunity Outlook 2024” which delivers detailed overview of the Southeast Asia ERP software market in terms of market segmentation by component, deployment model, business model, enterprise size, end-users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The Southeast Asia ERP software market is segmented on the basis of business models into human resource model, manufacturing model, financing model, inventory management, customer management, supply chain, and others. Out of these segments, the manufacturing model segment is expected to grab the largest market share over the forecast period. Further, the segment is anticipated to attain a revenue of USD 846.4 Million by the end of 2024. Although, the human resource model is expected to grow with the highest CAGR of 22.44% during the forecast period and achieve a considerable market share by the end of 2024.
Geographically, the Southeast Asia ERP software market is segmented into Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, and Myanmar, out of which, the market in Singapore is estimated to hold leading share of 36.86% by the end of 2024. The market in the country is further expected to grow with a CAGR of 16.33% during the forecast period and attain a revenue of USD 1063.2 Million by the end of 2024. The growth of the market in the country can be attributed to the growing advancements amongst business organizations and for the supportive initiatives of the government that promote industrial growth.
However, integration issue with on-premises systems is the key restraint anticipated for the growth of Southeast Asia ERP software market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Southeast Asia ERP software market which includes company profiling of MicroChannel Services, ERP Logic, JMC Technologies Pte Ltd, Accenture, Atos SE, Capgemini, ABEO Management Corporation, AFON Pte Ltd., Inecom Pte Ltd., Integrated Information Systems Pte Ltd, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Southeast Asia ERP software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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