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Manufacturing ERP Market Segmented By Solution such as Manufacturing ERP Software and Services with Deployment in Cloud, On-premises and Hybrid
Manufacturing ERP delivers manufacturing-specific functionalities for streamline and automate core business and manufacturing processes. Manufacturing ERP also provides advanced functionalities for manufacturing-specific needs such as procurement, supply chain, CRM, Sales, finance, inventory and order management among others.
Manufacturers are implementing new solutions such as cloud based ERP that allow them to respond quickly to customer demands in order to gain a competitive edge in the market. Digital manufacturing has evolved from the necessity to improve designs for manufacturing, to reduce the time required from design to the first production, and to reduce costly downstream changes.
The introduction of customized ERP solutions is expected to positively affect the manufacturing ERP market during the forecast period across the globe. Some of the key features of customized ERP solutions include integrated business management systems, real-time analysis, and customization based on business needs.
For instance, ePROMIS Solutions Inc. offers customized ERP solutions in multiple verticals including construction, contracting, oil & gas, MEP (mechanical, electrical & plumbing), trading, manufacturing, supply chain, automobile, transportation, logistics, healthcare, and public sector.
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The COVID-19 pandemic outbreak has created disruption in many industries, including the manufacturing ERP market. The COVID-19 pandemic has pushed manufacturers to rapidly shift gears, from addressing work-from-home policies to managing extreme swings in demand and uncertain supply chains.
During the COVID-19 crises, manufacturing ERP is used by different industries to sustain business operations through remote access, electronic data exchange, automated reporting, and real-time factory controls.
The manufacturing ERP solution increase 6% market growth in 2019 as compared to the year 2018, which is estimated to have inclining growth of nearly 2-2.5% in 2020. Additionally, the majority of the ERP platforms include modules for inventory control and supply chain management, and amidst outbreak, many manufacturers will also turn to specialist cloud-based ERP providers.
COVID-19 has helped new ERP systems benefit from its full potential by improving its functionalities to support remote working.
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Get a Customized VersionThe global manufacturing ERP market is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of manufacturing techniques such as industries 4.0 to improve operational efficiency and streamline business processes.
The manufacturing ERP technology offers various benefits such as increased productivity, operational visibility, real-time reporting, reduce risk, and enhance agility. The growing demand for cloud-based ERP solution to connect core business processes and manage core business functions is expected to create a huge opportunity for the global manufacturing ERP market.
Also, the growth of the manufacturing ERP market is boosting due to the adoption of new technologies such as machine learning, IoT, and AI, to deliver exceptional experiences, gain real-time visibility, and embed business intelligence.
However, as the problems associated with complex manufacturing systems, the high cost of installing and integrating manufacturing ERP technologies, could poses a bigger challenge. Lack of technological awareness in emerging countries and integration issues with legacy and on-premises systems, among other factors, are anticipated to restrict the growth of the manufacturing ERP market over the forecast period.
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Some of the prominent players in Manufacturing ERP market are Oracle Corporation, Netsuite, Inc., SAP SE, Sage ERP Solutions, Winman Advanced ERP Systems, IQMS Manufacturing ERP, among others.
Based on the region, the manufacturing ERP market has been segmented into North America, Europe, East Asia Latin America, South Asia & Pacific, and Middle East & Africa. North America followed by Europe accounted for the largest market share as many ERP providers are present in these regions due to advancements in technology and high business growth rates.
East Asia and South Asia & Pacific is expected to grow at the highest growth rate during the forecast period due to the increasing adoption of cloud-based ERP solution in automotive, consumer electronics, and food & beverage industries.
The manufacturing ERP market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with manufacturing ERP market attractiveness as per segment.
The manufacturing ERP market report also maps the qualitative impact of various market factors on manufacturing ERP market segments and geographies.
