The manufacturing ERPs are broadly used in diverse industries, including food & beverage, chemical, pharmaceutical, automotive, energy, more. Owing to growing implementation and usage of technology and automation in the manufacturing sector and stringent regulatory compliances and growing need for its adherence are the few factors driving the market. On the contrary, high upfront costs indulge in installing and upgrading the software might act as an obstacle in the growth of manufacturing ERP market.
Rapidly modernizing security threats in the coming years is expected to raise its capability to hastily analyse a large amount of data with the help of disruptive technologies like Artificial Intelligence. The ability of Artificial Intelligence to provide quick mathematical calculations in order to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the ERP market in the near future. AI has proven to be extensively worthy of threat detection as it can detect anomalies, patterns, and outliers more effortlessly and even with a less skilled workforce. Several ERP service providers have already integrated their existing solution with AI techniques for improvising their analytical and incident response abilities. This factor is expected to trigger the growth of the manufacturing ERP in the coming years.
India has the fastest growing economy, which has created intense competition with the country’s exposure to advanced technology, has necessitated the implementation of ERP solutions across various industries for streamlining different processes of operation, finance, and alignment of resources is increasing. The manufacturing industry needs to handle several processes such as inventory management, procurement, design process, order management, quality control processes to meet the emerging need of the end-users. Several manufacturing industries, such as automotive oil, steel, retail, and pharmaceutical companies, have already implemented an ERP solution. The adoption of ERP software in the Indian market is gaining traction due to the presence of a large number of SMEs. The Indian market comprises around 60% of the SME companies who already adopted these manufacturing ERP solutions that are attributed to the low-cost manufacturing ERP solutions as well as the availability of a considerable number of skilled technical and functional talent. There are various benefits of using ERP solutions such as reduced manufacturing cycle time, reduced inventory, reduced error in ordering reduced planning cycle time, reduced requirement of manpower, better utilization of resources, increased customer satisfaction, enable faster response to changing market situations, and enables outreach.
The manufacturing ERP market by application is segmented into automotive, consumer electronics, metallurgy, pharmaceuticals, energy, food & beverage, chemicals, retail & garments, and others. The food & beverage holds a significant share in the market, whereas, retail & garments is expected to be the fastest-growing end user industry during the forecast period. The ERP solution for the F&B industry allows the entrepreneurs and managers of the company to perform different assignments, such as discovering new recipes as well as monitoring the production costs effectively and rapidly. The retail ERP software comprises of single database which permits different departments to communicate with each other efficiently.
The major players operating in the market for manufacturing ERP market are CBO Infotech Pvt. Ltd., CRIMS (Unicode Solutions), Gamut Infosystems Ltd., SAP SE, Netsoft Solutions India Private Limited, Teknovative Solution, Epicor Software Corporation, Oracle Corporation, The Sage Group plc, and Infor Inc. among others.
The report segments the India manufacturing ERP market as follows:
India Manufacturing ERP Market – By Deployment Model
India Manufacturing ERP Market – By End User Industry
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