Singapore and Indonesia ERP Implementation Market Size & Share, by Component [Services {Professional (Implementation Services, Maintenance & Support Services), Managed}, Software]; Deployment (On-Premises, Cloud, Hybrid); Organization (Large Enterprises, SMEs) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

Singapore and Indonesia ERP Implementation Market Definition

An ERP system combines several corporate operations such as financial management, human resources, sales, and manufacturing to provide advantages such as greater efficiency and productivity. Planning, setting up, and installing an ERP are all referred to as ERP implementation.

Further, six phases with distinct goals could be found in a typical ERP deployment plan. Since each company is different, the phases may differ slightly from one another and even overlap. The discovery & planning phase, design, development, testing, deployment, and support phases make up the six-part ERP implementation phase lifecycle.

Additionally, the ERP implementation is distingue into four different approached such as big bang, phased rollout, parallel rollout, parallel adoption, and hybrid. However, while selecting the ERP implementation, organization size, its risks tolerance and more are taken into consideration. Very business organization is different and hence requires different technique.

Singapore and Indonesia ERP Implementation Market: Key Insights

Singapore and Indonesia ERP Implementation Market Size, Forecast, and Trend Highlights Over 2022 – 2035

The Singapore and Indonesia ERP implementation market is estimated to garner a revenue of USD 3,455.2 Million and USD 2,197.2 Million respectively by the end of 2035 by growing at a CAGR of 12.71% and 15.35% respectively over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 739.2 Million and USD 345.2 Million respectively in the year 2022. The growth of the market can be attributed to rise in investment by organization to develop their allied sectors, including IT. Hence, owing to this the adoption of ERP system is estimated to boost in different sectors with an aim of satisfying organization and customers need. For instance, the Government of Singapore were expected to spend up to USD 2.7 billion on ICT procurement in 2022, which is similar to 2021 but represents a rise of roughly 10% from 2020. About 70% (USD 2 billion) of the government's anticipated ICT spending for 2022 were anticipated to be allocated to application development, which would be used to create new applications and improve existing ones. The money would be used to transform the government's digital infrastructure and services for its citizens, businesses, and public officers.

Additionally, government are implementing various favorable policies on a large scale in order to encourage adoption of digital technology software. Also, they have taken various initiatives to encourage digital education which further anticipated to boost the adoption of ERP system in education institutions. The management of daily tasks, internal and external resources, control procedures, student enrollment and management, courses and curriculum, tests and results, teacher and other employee management, lectures, and more are all made easier by the use of ERP software in schools and colleges. Hence, the preference for ERP software is expected to grow among these institutions. Additionally, lockdown was the another major factor which boosted the adoption of digital technologies not only for education but also various other industries. Owing to the lockdown working from home became new normal in which ERP software played an efficient role. However, it is estimated that still large number of people prefer working from home. Hence, the growth of ERP implementation market in these regions is expected to boost further.

Singapore and Indonesia ERP Implementation Market: Growth Drivers and Challenges

Growth Drivers

• Surge in Penetration of Smartphones- In Indonesia, about 75 percent of people used smartphones in 2021. By 2028, there would probably be 270 million smartphone users in the country. Implementing ERP is possible on smartphones. The way firms perform their daily operations is being impacted by mobility. Hence, mobile ERPs improve mobility inside an organization's structure, boosting productivity. Instead of using a stationary computer, users in a mobile ERP configuration could comfortably access their ERP system through mobile devices such as smartphones and tablets. Users of mobile ERP could effortlessly produce, access, and share company information via handheld mobile devices. Without making a substantial investment in equipment or setup, this guarantees instant access to data. Hence owing to growing penetration of smart phones, the market is estimated to boost.

• Growing Demand for Cloud Services- Around 19% of Singaporean enterprises were estimated to be utilizing cloud computing services in 2020.

• Surge in Number of Small and Medium Enterprises - Over 60 million SMEs (Small and Medium-sized Enterprises) were operating in Indonesia as of 2021, or one SME for every five citizens. About 59 million of them, or approximately 97%, were microbusinesses.

• Growing Use of Internet - Around 4 million people used the internet in Singapore in 2020. This figure is expected to rise significantly further during the next few years.

• Surge in IT Workforce - Around 90,000 IT and software experts, or around 3% of all employees, work in Singapore, according the Ministry of Manpower.

Challenges

• Hidden Cost of ERP Implementation – ERP implementation consists of various hidden cost. These cost include, labor cost, training cost, and more. Additionally, it also incurs customization charges when a company wants to modify the default ERP software of a vendor or add a desired module. Customized ERP System require more work and money to upgrade, which is an additional hidden cost. Also, ERP system requires lots of maintenance, which is also estimated to boost the expenses of the organization. Hence this factor is anticipated to hinder the growth of the market. 
• Lack of Highly Technically Sound Employees
• Issues of Integration with On-Premises Deployment Model

Singapore and Indonesia ERP Implementation Market Segmentation

The Singapore and Indonesia ERP implementation market is segmented and analyzed for demand and supply by deployment into on-premises, cloud, and hybrid. Out of these, the cloud segment is anticipated to garner the largest revenue of USD 1,665.4 Million and USD 1,208.5 Million respectively by the end of 2035. Further in the year 2022, the segment is this region generated revenue of USD 349.6 Million and USD 180.6 Million. This growth of segment in terms of revenue can be attributed to growing deployment of cloud services in organization. In Indonesia, about 76% of firms used cloud-based IT solutions in 2021, and approximately 82% of those same organizations felt that cloud-based tools helped them handle their business needs in COVID-19. Hence the adoption of cloud based ERP software is estimated to increase. With cloud-based ERP, an organization could access and save data on any device with an internet connection, typically with the purchase of a subscription. Further, with cloud-based ERP, businesses can run SaaS enterprise applications, which is also expected to contribute to the growth of the segment during the forecast period. Additionally, since large number of people prefer working from home the preference for cloud-based ERP is further expected to boost. Further, the cloud segment in Indonesia is anticipated to grow at the highest CAGR 15.80% over the forecast period. However, in Singapore, the hybrid segment is expected to grow at a highest CAGR of 13.29% over the forecast period.

The Singapore and Indonesia ERP implementation market is also segmented and analyzed for demand and supply by enterprise size into small enterprise, medium enterprise, and large enterprise. Amongst these segment, the large enterprise segment is anticipated to hold the largest revenue of USD 1,634.3 Million and USD 1,285.4 Million respectively by the end of 2035, up from a revenue of USD 355.6 Million and USD 211.6 Million respectively, in the year 2022. The growth of the segment can be attributed to growing adoption of ERP software since they have bigger infrastructure and a bigger income stream. Additionally, the demand for enterprise resource management in the Singapore and Indonesian markets is anticipated to increase owing to the urgent requirement for securing key company assets and managing operational processes and technology. Large businesses have multiple locations; thus they need a system that could integrate numerous company functions on a large scale. However, the medium enterprise is anticipated to grow at the highest CAGR of 13.22% and 16.69% over the forecast period respectively.

Our in-depth analysis of the Singapore and Indonesia ERP implementation market includes the following segments:

Top Featured Companies Dominating the Singapore and Indonesia ERP Implementation Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent ERP software vendors in the Singapore and Indonesia ERP implementation market that are included in our report are, IBM Corporation, Infor, Epicor Software Corporation, Microsoft Corporation, Oracle, SAP SE, Focus Softnet Pvt Ltd., Dassault Systèmes., Workday Inc., IFS Solutions Asia Pacific Pte. Ltd., and others. Further, prominent ERP implementers in the Singapore and Indonesia ERP implementation market included in the report are, HAND Global Solutions Pte Ltd., NaviWorld Singapore Pte. Ltd., Axxis Consulting, Sage Group plc, SYSPRO, Unit4, IDS Indonesia, Nano ERP Indonesia, and others.