Enterprise resource planning (ERP) is a software program that helps businesses handle day-to-day tasks such as accounting, procurement, project management, risk management, enforcement, and supply chain operations. The software also helps businesses to schedule, budget, forecast, and report on an its financial results. The Southeast Asia ERP software market is anticipated to grow with a CAGR of 15.36% during the forecast period, i.e., 2020-2024. Factors such as the numerous benefits associated with the adoption of ERP software amongst business organizations, growing adoption of ERP software across industry verticals, and the numerous favorable initiatives of the governments of the countries to promote small & medium sized businesses, are expected to drive the market growth. The market which registered a revenue of around USD 1600 Million in 2019, is further estimated to cross USD 2800 Million by the end of 2024.
The market is segmented by numerous segments, which include segmentation by component, deployment model, business model, enterprise size, end-users and by region. On the basis of end user, the market is segmented into automotive, healthcare, hospitality, aerospace & defense, electronics & technology, food & beverage, construction & home improvement, clothing, consumer goods & retail, agribusiness, industrial machinery & components, pharmaceuticals & life sciences, and others, out of which, the electronics & technology segment is expected to hold the largest revenue of more than USD 660 Million by the end of 2024.
On the basis of geographical analysis, the Southeast Asia ERP software market is segmented into Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, and Myanmar, out of which, the market in Singapore is estimated to hold leading share of close to 37% by the end of 2024. The market in the region is further expected to grow with a CAGR of 16% approximately during the forecast period.
Some of the leading market players in the Southeast Asia ERP software market that are mentioned in our report are MicroChannel Services, ERP Logic, JMC Technologies Pte Ltd, Accenture, Atos SE, Capgemini, ABEO Management Corporation, AFON Pte Ltd., Inecom Pte Ltd., Integrated Information Systems Pte Ltd, and others.
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Companies Mentioned
- MicroChannel Services
- ERP Logic
- JMC Technologies Pte Ltd
- Accenture
- Atos SE
- Capgemini
- ABEO Management Corporation
- AFON Pte Ltd.
- Inecom Pte Ltd.
- Integrated Information Systems Pte Ltd
