Vietnam ERP for Retailers Market Expected to Reach $26,058.89 Thousands by 2025

According to a recent report published by Allied Market Research, titled,"Vietnam ERP for Retailers Market by Component, Application, Deployment Model, and Retailer Size: Opportunity Analysis and Industry Forecast, 2018 - 2025,"the Vietnam ERP for retailers market size was valued at $7,271.94 thousands in 2017, and is projected to reach at $26,058.89 thousands by 2025, growing at a CAGR of 17.4% from 2018 to 2025.

With increase in competition and rise in numerous challenges among retailers, ERP has become a crucial requirement for the retail industry to sustain and keep up with changing customer demands. Vietnam has been ranked among the top and most attractive retail markets across the globe. The country accounts for 800 supermarkets, 150 shopping malls, and more than 9,000 traditional markets. Growth in retail industry in Vietnam and rise in need of improved business efficiencies and transparencies among retailers drive the market growth. In addition, rise in demand for role-based security, and growth of the retail industry majorly contribute toward the growth of the Vietnam ERP for retailers market. However, high investment costs and inadequate flexibility are expected to hamper the growth of the Vietnam ERP for retailers industry. Moreover, surge in adoption of ERP among small and medium retailers, and emergence of cloud-based ERP are expected to create significant opportunities for the Vietnam ERP for Retailers market during the forecast period.

Based on component, the software segment dominated the Vietnam ERP for retailers industry in 2017, and is expected to remain dominant during the forecast period, owing to extensive use of ERP software for different applications, such as customer management, inventory management and so forth. Furthermore, the service segment is expected to grow at the highest CAGR during the forecast period, owing to rise in need of consulting and deployment services among small- and medium-sized businesses in Vietnam.

The Vietnam ERP for retailers industry was led by the inventory management segment in 2017, and is projected to maintain its dominance during the forecast period, owing to the growth of the retail industry in Vietnam, supported by rise in spending, which enables the retailers to effectively manage the inventory levels, and improves business process and customer satisfaction. However, the demand forecasting segment is expected to witness the highest growth. The retailers face heavy customer footfall in most of the situations as customers to cater to the requirements of the customers. As a result, it is important to meet the demand with supply and offer them great service, which helps retain customers, and thus, in turn fosters the growth of the market. The retail ERP software enables easy and accurate tracking of past trends and forecasting of future demands. Moreover, it also helps them in maximizing sales and reducing inventory carrying costs, thus maintaining customer satisfaction and considered as a major Vietnam ERP for retailers market opportunity.

Key Findings of the Vietnam Erp For Retailers Market:

• Based on component, ERP services are expected to exhibit significant growth in the Vietnam ERP for retailers market during the forecast period.
• In 2017, the on-premise accounted for the highest revenue among the deployment model category.
• Based on application, the inventory management generated the highest revenue in Vietnam ERP for Retailers market share in 2017.
• According to retailer size,the small and medium retailer is anticipated to exhibit substantial growth during the forecast period.

The Vietnam ERP for Retailers market analysis include some of the key market players such as Deskera, Epicor Software Corporation, Exact, IBM Corporation, Infor, Microsoft Corporation, Oracle Corporation, Plex Systems, Inc., SAP SE, and The Sage Group plc.