Portland, OR , June 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific ERP software market generated $11.98 billion in 2020, and is expected to reach $48.03 billion by 2030, witnessing a CAGR of 14.8% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in need for operational efficiency & transparency in business processes, adoption of cloud & mobile applications, and rise in demand for data-driven decision-making drive the Asia-Pacific ERP software market. However, high investment and maintenance costs restrain the market growth. On the other hand, increase in demand for ERP among small and medium enterprises and technological advancements in ERP create new opportunities in the coming years.
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Covid-19 Scenario:
- The demand for cloud-based ERP software increased considerably during the Covid-19 pandemic to maintain efficiency and keep processes under control as businesses needed to make changes in their operational structures.
- The adoption of work from home and remote working culture led to surge in adoption of ERP software in the Asia-Pacific region to streamline operations and improve efficiency.
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The report offers detailed segmentation of the Asia-Pacific ERP software market based on component, deployment model, business function, industry vertical, end user, and country.
Based on deployment model, the on-premise segment contributed to the highest share in 2020, accounting for nearly half of the total market share, and will continue to lead in terms of revenue by 2030. However, the cloud segment is projected to manifest the highest CAGR of 17.1% from 2021 to 2030.
Based on industry vertical, the manufacturing segment held the largest share in 2020, accounting for nearly one-fourth of the Asia-Pacific ERP software industry. However, the healthcare segment is estimated to witness the largest CAGR of 19.9% during the forecast period.
Based on country, China accounted for the highest share in 2020, contributing to more than one-fourth of the total market share, and is projected to continue its leadership status by 2030. However, India is projected to portray the fastest CAGR of 21.0% during the forecast period.
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Leading players of the Asia-Pacific ERP software market analyzed in the research include Digiwinx Infotech Pvt. Ltd., Focus Softnet PTE LTD, Synergix Technologies, Deskera, IFS AB, 3i Infotech LTD., HashMicro Pte. Ltd., Tigernix Pte. Ltd., Rorko Technologies, and Accentuate Pte. Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
