(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the Market report for ERP Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for ERP Market Products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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The ERP Market in China is part of Netscribes’ Information Technology Industry Series reports. The market will be boosted by increasing demand from small and medium businesses (SMBs), expansion of ERP in new industries together with the rising need for management effectiveness.
The report begins with the definition of ERP and its key characteristics followed by its historical evolution and framework. The market overview section provides global market size with growth potential for the period 2009-15. It also presents the revenue of global ERP vendors from ERP software in 2010 and their market shares. Domestic ERP market overview provides details on market size in terms of revenue and its growth for the period 2010-16. This section further illustrates the average sales revenue per enterprise during 2008-10. Further, the report exhibits the market share of major ERP vendors in the high-end ERP segment in 2009 and the four distinct groups of ERP vendors existing in the market.
The report discusses the major aspects of ERP selection criteria, followed by the various cost components of ERP installation.
The report covers the benefits of ERP implementation followed by the factors influencing Chinese companies while during their decision making. It also lists the Critical Success Factors (CSF) in ERP implementation in China.
Key factors driving the growth of ERP market in China include wage inflation, increasing demand from SMBs, penetration of ERP in new industries, rising need for management effectiveness, rising automobile production, and opportunity from cloud computing.
The report finds that wage inflation will be a catalyst for expanding ERP usage in China. ERP is increasingly gaining popularity among the SMBs that account for nearly 99% of the total Chinese enterprises. With the major enterprises entering into new industries, usage of ERP will increase to enhance their management systems. China’s enterprise management software market witnesses rapid growth owing to rising need for cost-effectiveness. Growing automobile sector in China at 10% CAGR during 2007-20 will drive software demands for automakers. Additionally, Chinese government had invested over USD 100 mn in five cities for cloud computing advancement in 2011.
Players operating in the market also face challenges which are impeding their development and growth. Major challenges identified in the report include high cost of ERP implementation, cultural issues, lack of ERP experience, communication barrier and profitability concerns for ERP vendors.
The report finds that lack of ERP adoption in China is primarily due to high cost of implementation. ERP strategic benefits in China tend to get restricted due to difference in management culture coupled with cultural fragmentation in the market. Lack of industry experience, relationships and technology is a major shortcoming for domestic players. Language barrier coupled with profitability concerns for ERP vendors pose major challenges to the sector.
The report also provides the role of the government in the country’s software sector influencing ERP. It mentions the measures to be taken in the Beijing’s 12th Five Year Plan (2011-2015) furthering development in the software market.
The Market report answers the following questions:
Key trends in the software market include emergence of Chinese ERP software vendors as dominant players, software localization, shift towards high-end large-scale clients, shift in ERP focus to business processes and increasing mergers & acquisitions.
Key M & A deals taken place during 2010-12 in the domestic ERP industry is also included in the report.
The competition section outlays the competitive landscape of the ERP market in China briefing about the domestic and foreign players existing in the market. This section provides a three dimensional analysis of key players’ revenues, profits and market capitalization. The report also features brief profiles of major domestic and foreign players in the market with a snapshot of their corporation, financial performance, business highlights and their product portfolio, providing an insight into the existing competitive scenario.
Key takeaway section summarizes the entire market in terms of opportunities, trends and challenges persisting in the ERP market in China.
Some of the key statistics or factors impacting the ERP market in China covered in the report include global ERP sales and growth, global ERP market (SaaS), global ERP software revenues, global software revenue share, domestic ERP market size, domestic enterprise software market growth, average sales revenue per enterprise, market share of major ERP vendors in the high-end ERP segment, direct benefits from ERP implementation, share of factors influencing Chinese companies in ERP implementation, ratings for critical success factors (CSF) in ERP implementation in China, labour costs in Asian countries, growth in average monthly wage, share of SMEs in total Chinese enterprises, management software revenue growth, growth of automobile production, market share of major ERP vendors, China’s ERP market client structure, etc.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
What is the aim of the report?
- The market report presents the estimated market size of ERP Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter's Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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About Kenneth Research:
Rated as one of the best multi-client reselling agencies, Kenneth Research provides a single platform for insights on numerous industries for investors and companies who are willing to expand their business. The platform caters to industries that include Healthcare and Pharmaceuticals, Chemicals, ICT and Telecom, Energy and Power, Automotive and Transportation, and several others, and offers the best strategic business consultancy services at a global level.
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