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2022

Asia-Pacific ERP Software Market

Asia-Pacific ERP Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Software and Services), Deployment Mode (On-premise, Cloud and Hybrid) Function (Finance, Human Resource (HR), Supply Chain, Customer Management, Inventory Management, Manufacturing Module, and Others), End User (Large Enterprises, Medium Enterprises, and Small Enterprises) and Industry Vertical (Manufacturing, BFSI, Healthcare, Retail & E-Commerce, Government & Public Service, IT & Telecom, Construction, Aerospace & Defense, and Others): Opportunity Analysis and Industry Forecast, 2021-2030.

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Author's: Rachita Rake & Shreyas Wadodkar | Vineet Kumar
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Asia-Pacific ERP software Market Statistics: 2030

The Asia-Pacific ERP software market size was valued at $11,989.00 million in 2020, and is projected to reach $48,034.00 million by 2030, growing at a CAGR of 14.8% from 2021 to 2030.

The Asia-Pacific ERP software market study in this report emphasizes on various deployment models, business functions, industry verticals, and end users available across diverse regions. An enterprise resource planning software is a business process software, which integrates and automates a company’s core business processes to achieve higher efficiency and productivity. The report covers study of key deployment models used for ERP. This includes on-premise, cloud and hybrid. At present, cloud-enabled ERP is gaining increased adoption, as it helps enterprises to reduce their IT spending. In addition, vendors are coming up with new feasible methods that include mobile ERP to accomplish the task. Thus, emerging businesses are expected to adopt mobile ERP not only to view report but also to carry crucial business processes. Emerging deployment models, such as hybrid, are analyzed for better study of the market. Revenue generated from the selling of ERP software and services helps to estimate the market size during the analysis period. However, the report does not consider revenue generated from the consultation of Enterprise resource planning software implementation. To understand the APAC ERP software market, drivers, restraints, and opportunities are explained in the report.

Asia-Pacific-ERP-Software-Market

On the basis of end user, the large-scale enterprise segment dominated the overall enterprise application industry in 2020, and is expected to continue this trend throughout the forecast period. This is due to an increase in the adoption of ERP software by enterprises to gain strategic and a competitive advantage over their competitors. Furthermore, it enables large-scale industry verticals to gain quick & easy-insights of business and future planning. Customers use ERP software to discover new opportunities and business insights on large-scale diverse data, including historical and recent data. However, the medium scale enterprise segment is expected to grow the most, and this trend is expected to continue during the forecast period. The medium scale businesses are shifting their business to a digital platform, medium scale businesses are using ERP software solutions for a number of uses and it is helping them to become more productive, smarter, and efficient.

Depending on the deployment model, the on-premise segment captured the largest share in 2020 and is expected to continue this trend during the forecast period. This is due to the numerous advantages offered by this on-premise deployment such as a high level of data security and safety, which is expected to create Asia-Pacific ERP software market growth in future. However, the cloud segment is expected to witness the highest growth in the upcoming years. As a cloud deployment requires no investment in IT infrastructure as all data is stored on cloud server, which increases the demand for Asia-Pacific ERP software in small and medium scale organizations. 

The report focuses on the growth prospects, restraints, and opportunities of the Asia-Pacific ERP software market analysis. The study provides Porter’s five forces analysis of Asia-Pacific ERP software industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Asia-Pacific ERP software market trends.

Segment Review

The Asia-Pacific ERP software market analysis is segmented on the basis of component, deployment model, business function, industry vertical, end user, and country. Based on the component, it is bifurcated into software and service. Based on deployment model, the market is categorized into on-premise, cloud, and hybrid. On the basis of business function, it is classified into finance, human resource (HR), supply chain, customer management, inventory management, manufacturing module, and others. By industry vertical, it is segregated into manufacturing, BFSI, healthcare, retail & e-commerce, government & public service, IT & telecom, construction, aerospace & defense, and others. Depending on end user, it is divided into large enterprises, medium enterprises, and small enterprises. Country wise, it is analyzed across China, India, Japan, South Korea, Australia, Indonesia, Thailand, Singapore, Malaysia, Philippines, Vietnam, Sri Lanka, Hong Kong and rest of Asia-Pacific

Asia-Pacific ERP Software Market
By Component
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Service segment is projected as one of the most lucrative segments.

Impact of COVID-19 on the Market Trends

As per Asia-Pacific ERP software market forecast the post COVID-19, the Asia-Pacific ERP software market size was valued at $13,907.00 million in 2021 and is projected to reach $48,034.00 million by 2030, growing at a CAGR of 14.8% from 2020 to 2030. 

The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. This is attributed to rapid increase in the demand for cloud-based ERP software that supported the businesses to sustain during the pandemic. The ERP software solution played a vital role in keeping the entire business processes efficiently operating and under control. This was achieved through various features of ERP software such as remote access, digital data exchange, automated reporting, and real-time work floor control. In addition, the pandemic has forced businesses around the APAC region to shift their physical offices into the remote working setups, which has led to surge in demand for ERP software, thus fueling the growth of the APAC ERP software market. Furthermore, from drafting the work to managing constant workflows, ERP software enables the business operation management efficiently and maintains easier employee engagement. Thus, surge in adoption of ERP software due to remote working set-ups contributes toward the growth of the overall market.

Asia-Pacific ERP Software Market
By Deployment Mode
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Cloud segment is projected as one of the most lucrative segments.

Top Impacting Factors    

The factors that drive the growth of the Asia-Pacific ERP software market include rise in need for operational efficiency & transparency in business processes, surge in adoption of cloud & mobile applications, increase in demand for data-driven decision-making, increase in demand for ERP among small & medium enterprises, and technological advancement in ERP. However, higher investment and maintenance costs are expected to hamper the market growth during the forecast period. 

Surge in adoption of cloud & mobile applications

Cloud computing is an emerging technology that allows enterprises to store and access data through internet. Agility, scalability, reliability, and flexibility are some of the major characteristics of the cloud technology attributing to its popularity. Software as a service (SaaS) or on-demand is one of the service models of cloud computing based on the pay-per-use fee model. Cloud-based applications reduce IT infrastructure cost of the enterprise to a certain extent. This is the prime reason for the increased adoption of cloud-based application among enterprises. As mobiles have become an integral part of working culture, the enterprises invest in cloud-connected mobile applications, as they allow access to information anytime and anywhere. This helps organizations to help maintain work–life balance for their employees as well as to enhance productivity. These benefits are expected to drive the demand for cloud and mobile applications in the coming years.

Asia-Pacific ERP Software Market
By Country
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India is projected as one of the most significant country.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the APAC ERP software market share along with the current trends and future estimations to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the APAC ERP software market size is provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Asia-Pacific ERP software industry.
  • The quantitative analysis of the Asia-Pacific ERP software market share from 2020 to 2030 is provided to determine the Asia-Pacific ERP software market potential.

Asia-Pacific ERP Software Market Report Highlights

Aspects Details
Asia-Pacific ERP Software Market By Component
By Component
  • Software
  • Service
Asia-Pacific ERP Software Market By Deployment Model
By Deployment Model
  • On-premise
  • Cloud
  • Hybrid
Asia-Pacific ERP Software Market By Business Function
By Business Function
  • Finance
  • Human Resource (HR)
  • Supply Chain
  • Customer Management
  • Inventory Management
  • Manufacturing Module
  • Others
Asia-Pacific ERP Software Market By End User
By End User
  • Large Enterprises
  • Medium Enterprises
  • Small Enterprises
Asia-Pacific ERP Software Market By Industry Vertical
By Industry Vertical
  • Manufacturing
  • BFSI
  • Healthcare
  • Retail & Distribution
  • Government & Utilities
  • IT & Telecom
  • Construction
  • Aerospace & Defense
  • Others
Asia-Pacific ERP Software Market By Country
By Country
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Thailand
    • Singapore
    • Malaysia
    • Philippines
    • Vietnam
    • Sri Lanka
    • Hong Kong
    • Rest of Asia-Pacific
Asia-Pacific ERP Software Market By KEY MARKET PLAYERS PROFILED IN THE REPORT OF ASIA-PACIFIC ERP SOFTWARE MARKET
By KEY MARKET PLAYERS PROFILED IN THE REPORT OF ASIA-PACIFIC ERP SOFTWARE MARKET
  • Digiwinx Infotech PVT. LTD.
  • Synergix Technologies
  • Focus Softnet PTE LTD
  • IFS AB.
  • Deskera
  • HashMicro Pte. Ltd
  • 3i Infotech LTD.
  • Rorko Technologies
  • Tigernix Pte. Ltd.
  • Accentuate Pte. Ltd

Analyst Review

In accordance with several interviews conducted of the top level CXOs, the Asia-Pacific region is witnessing an increased adoption of ERP software from developing economies such as Philippines and Indonesia. However, several of these enterprises have a low capital to invest in expensive on-premise ERP solutions. As a result, they increasingly consider to adopt cloud-based ERP, which manages their business operations at a less capital investment. As the business operations of such companies are simple, they do not require complicated and expensive on-premise ERP software. Hence, high adoption of cloud-based ERP in the Asia-Pacific region is one of the major trends in the market. One of the critical drivers of the Asia-Pacific ERP software market is the increased adoption of ERP solutions in government organizations. ERP software play an important role in many government agencies, and are adopting these solutions at a significant rate, owing to increase in IT investment in the industry.

In the current business scenario, there has been a substantial rise in the usage of the ERP software across various verticals in Asia-Pacific region such as retail, manufacturing, BFSI, healthcare, and others. By integrating their business functions in critical business processes of enterprises, they can increase the productivity and efficiency of their business. Hence, to lower the IT expenses and streamline processes, organizations are implementing ERP solutions. Adoption of ERP software allows enterprises to integrate business operations with their suppliers, channel partners, and customers. However, the selection of ERP solution differs in accordance with business requirements and their respective processes. ERP modules have changed quite drastically over the last few years. Companies that deployed ERP in early years are now integrating the new age ERP models such as cloud-based and mobile-enabled applications, which is creating lucrative opportunities for the market.

Furthermore, cloud-enabled ERP solution is gaining high acceptance over the conventional on-premise ERP software in the Asia-Pacific region. The number of benefits associated with cloud technology being higher than on-premise deployment, is leading to its higher acceptance among end users. However, in the current scenario, high cost of the ERP solution is a major challenge for mass users.

Moreover, ERPs are being implemented across SMEs for the better management of their business operations while offering improved collaboration, simplified compliance, productivity, and risk management. In addition, ERPs are being adopted increasingly, as they offer effective planning and streamlining of data under one platform, which helps in regulating operational costs, enhancing decision-making, and increasing sales. With increase in focus of modern SMEs toward improving their operational and business process efficiency, the adoption of ERP software is expected to witness growth in the upcoming years. This will subsequently fuel the growth of the Asia-Pacific ERP software market.

The Asia-Pacific ERP software market is moderately concentrated, and companies are focusing on leveraging new technologies for offering intelligent ERP to cater to the evolving end-user requirements. Key players have adopted various growth strategies to enhance and develop their product portfolio, garner maximum market share, and increase their market penetration. The market is witnessing new product launches by the leading players. For instance, in December 2020, one of the state governments in India that is the Government of Haryana, launched its own ERP system to bring transparency and efficiency in the process of releasing state government advertisement and payments release to media houses.

Author Name(s) : Rachita Rake & Shreyas Wadodkar | Vineet Kumar

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Asia-Pacific ERP Software Market

Opportunity Analysis and Industry Forecast, 2021-2030.