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Manufacturing ERP Market Will be Dominated by Automotive Segment in the Coming Years

Author : Ronak Bora | Published Date : 2019-03-28 

North America manufacturing ERP market is expected to dominate in terms of revenue generation due to the increasing adoption of cloud solutions and high focus on the accumulation of customer data to aid in the decision-making process. The manufacturing ERP market in Asia Pacific is anticipated to have a high growth owing to the increasing number of entrants into automotive, pharmaceutical, garment, and consumer electronics manufacturing markets.

The growth of manufacturing activities and the broad scale of operations that an organization operating in the manufacturing sector is required to maintain has led to the technological development by players in the manufacturing ERP market. An ideal system can aid the company in decision making, eliminate risk, reduce wastage, and lead to overall growth. Awareness about these benefits is a major factor promoting the manufacturing ERP market.

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Manufacturing ERP market segmentation based on deployment model is bifurcated into the cloud and on-premise software. Cloud systems offered on a subscription basis to enterprises increase the on-going operating expenditures as opposed to on-premise software that require high initial investments. These are highly lucrative solutions to SMBs with limited financial resources and contribute massively toward the high growth of the manufacturing ERP market segment.

Cloud software also reduces the perpetual need to upgrade the software to meet the changes occurring in an organization or the industry. On-premise segment holds the largest share in the manufacturing ERP market and is largely utilized by large companies as it allows organizations to have a complete control over the implementation process and offers higher customization.

Penetration of big data analytics is expected to generate an organizational demand for the manufacturing ERP market. The shift toward a customer-centric business has led to rising applications of big data analytics, which can aid in supply planning, output forecasting, and manufacturing process defect tracking and ERP software can allow organizations to gain higher flexibility and increase the visibility of critical data. This software can also let companies exchange data across business lines when users create it, allowing different parties to take advantage of that information.

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Segmentation of the manufacturing ERP market by secondary vertical includes metallurgy, automotive, consumer electronics, electrical devices, energy, pharmaceuticals, chemicals, food and beverage, retail and garment, and others. The automotive segment is anticipated to dominate the manufacturing ERP market during the forecast period owing to the increase in customer demands, stringent compliance requirements, and evolving industry standards. Manufacturing ERP software also allows the integration of various value chain activities, inventory management, and tracking of vehicles in terms of recall and reimbursements.

The food and beverage industry is anticipated to exhibit rapid growth of the manufacturing ERP market owing to a number of food safety regulations and compliances imposed on these products. Intense competition from organizations operating in this industry is causing companies to need specialized processes for seasonal demand monitoring, order management, customer trend, and relationship management.

Vendors operating in the global manufacturing ERP market include SAP SE, IQMS, Ramco Systems, NetSuite, Inc., Epicor Software Corporation, and Oracle. To sustain continuous growth in the marketplace, companies must undertake business strategies such as software development, expansion of solution offerings, acquisitions, mergers, and partnerships.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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