Our in-depth analysis of the global enterprise resource management market includes the following segments:
By Deployment Type
By Industry Size Type
By Application Type
By Vertical Type
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increase in technology adoption in the region. Digitization demand is driven by large enterprises and different initiatives of governments in the region. Digital India is a flagship program of the Government of India, visions to transform India into a digitally empowered society and knowledge economy. Industries in countries like Japan, China, India, and Korea are increasing, leading to the increased complexity of managing data, workload, and applications, which would act as a significant factor driving the adoption of enterprise resource management among enterprises in this region. The market in North America and Europe is evaluated to occupy the largest share in terms of revenue due to the presence of top vendors in that region.
The global enterprise resource management market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Global digitalization is increasing across various verticals which is creating opportunities for the organizations to optimize relationship with customer and Increase in emerging technologies like AR, IoT, AI, Digital twin and others.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Substantial gap between customer expectations and solution delivered and with the increase in number of solution providers and major vendors, it is becoming difficult for the organizations to select right mix of solution.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increasing digital globalization.
Ans: The major players dominating the Enterprise Resource Management Market are IBM, SAP, Oracle, Infor, IFS, ABB, Intelligent Process Solutions, Maintenance Connection, Aveva, Aptean, Emanit, CGI, Rfgen Software, Assetworks, Ultimo Software Solutions, UpKeep , among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by diployment type, vertical, industrial size, application and region.
Ans: With respect to application, the manufacturing and retail hold the largest market share owing to the growing preference digital globalization.