Growing industrialization supports the future growth of the Vietnam ERP Market, during the forecast period, 2023-2027.
According to TechSci report on, “Vietnam Enterprise Resource Planning (ERP) Market – By Region, Competition Forecast & Opportunities, 2027”, Vietnam ERP market may flourish with an impressive CAGR during the forecast period of 2023-2027, due to growing demand for internet based services to improve inter organization functions. Rapidly increasing evolution of technology coupled with rising use of artificial intelligence and internet of things further drive the growth of the Vietnam ERP market in the upcoming five years. Expanding IT & telecom industry, growing investments in the advancement of the technologies further facilitates the growth of the Vietnam ERP market in the next five years. Growing need for operational efficiency and transparency in various business protocols also aid to the market growth. Rapidly growing number of small and middle level enterprises also fuel the growth of the Vietnam ERP market in the future five years. ERP is an enterprise resource planning software and its related services. These services allow the user businesses to monitor and regulate the functionalities within the organization along with maintaining the inter-organization relation with the suppliers and customers. ERP can also be utilized as an overall coverage of CRM functions. Growing applications of ERP in the real estate industry, hospitality & consumer care industries, along with healthcare industry, textile industry automotive industry, banking sector also substantiates the growth of the Vietnam ERP market in the forecast years through 2027F. The ERP software has multiple adaptations and evolutions based on the kind of industry they are used in. Purchase of property, invoicing the purchases, supplier and delivery monitoring, facility management, customer regulations, billing & payments, patient admissions, etc. are some of the functions of ERP. Within the organization, the software regulates the daily attendance of the employees, salary calculations, leave modulation, employee information data storage etc. can be effectively taken care of using ERP. Large applications of the software and the services of the enterprise resource planning (ERP) is the most important factor that is aiding the growth of the Vietnam ERP market in the forecast period.
Growth in the outsourced services to regulate the ERP software also aids the growth of the Vietnam ERP market in the future years. Recent pandemic and adaptation of ERP into the healthcare sector fueled the growth of the Vietnam ERP market in the recent years.
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The Vietnam ERP market is segmented by component, deployment type, function, end user, enterprise, competitional landscape, and regional distribution. Based on component, the market is differentiated between software and services. Software segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of growing demand for the IT integrated software to regulate the growing industrialization in the country. Increasing investment in the advanced technology along with the growing expenses over the incorporation of ERP software for the business modulations further facilitate the growth of the segment and aids the growth of the Vietnam ERP market in the next five years. Services are anticipated to hold significant revenue shares of the market in the future five years due to increasing outsourcing services of the enterprise resource plannings. Small enterprises often opt for outsourced ERP implementations and expert consultants to monitor through the software to help the business modulation thus facilitating the growth of the Vietnam ERP market in the forecast years. By deployment type, the market is divided between on premises and cloud.
Based on function, the market is further segmented into finance, human resource, customer management, inventory management, supply chain, and others. Inventory management is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to growing demands from the real estate and retail sector. Expanding infrastructure industry, and consumer retail sector further facilitate the growth of the Vietnam ERP market in the future five years.
By end user, the market is fragmented into manufacturing, BFSI, healthcare, retail, government & utilities, it & telecom, and others. Based on enterprise, the market is bifurcated into medium, large, and small enterprises. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern region, Central region, and Southern region.
A partial list of major market players of the Vietnam ERP market includes :
- IBM Vietnam Company
- SAP Vietnam
- Oracle Vietnam Pte Ltd
- Sage Software Asia Pte Ltd
- Microsoft Vietnam
- Infor Vietnam Inc
- Epicor Software Vietnam Company Limited
- ESI Services Vietnam Co., Ltd
- Workday, Inc.
- Syspro Software Company
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“Increasing investments in the incorporation of ERP in the industrial sector and multiple enterprises along with the growing demand for the internet based services for the business expansion leads the market toward futuristic growth. After the COVID instance, ERP is also actively helping the companies survive the pandemic by reducing reliance on human resource, enabling remote working, automating routine processes, etc.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam ERP Market By Component (Software and Services), By Deployment Type (On-Premises and Cloud), By Function (Finance, Human Resource, Customer Management, Inventory Management, Supply Chain, Others), By End User (Manufacturing, BFSI, Healthcare, Retail, Government & Utilities, It & Telecom, Others), By Enterprise (Medium, Large and Small), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam ERP market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam ERP market.
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