Manufacturing ERP Market 2017 – 2024 By Top Manufacturers SAP SE, IQMS, Ramco Systems, NetSuite, Inc., Epicor Software Corporation, and Oracle

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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The increasing number of regulations and compliance issues have grown in prominence over the years and meeting these regulations requires a high amount of time and resources. For instance, chemical companies are required to follow OSHA Hazard Communication Standards and SARA Title III. Food and beverages companies are mandated to abide by the HACCP and Bio-Terrorism Act. Manufacturing ERP software can streamline data processing, storage, and reporting by providing better processes and data transparency.

The software system comprises a source code that is made publicly available to the subscribed parties. The low-cost annual subscriptions permit any of the registered members to perform changes to the source code as per their requirements. For instance, xTuple Manufacturing Edition is an open source software that contains various modules addressing different operations in the manufacturing process such as product, inventory, sales, after-sales, CRM, and schedule module management at a minimal monthly cost of USD 130 per user.

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Growing adoption of IoT and automation in the manufacturing sector can create new avenues for the growth of the manufacturing ERP market. Data obtained from IoT devices is unstructured and extensive. To accommodate the penetration of IoT technology, players operating in the manufacturing ERP market are developing their software to cater to client demands.

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.

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.

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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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