India Manufacturing ERP Market to Reach US$ 712.7 Mn at a CAGR of 11.9% in 2027

The India Manufacturing ERP market accounted to US$ 262.7 Mn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 – 2027, to account to US$ 712.7 Mn by 2027.

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 growing implementation and usage of technology and automation in the manufacturing sector and stringent regulatory compliances and growing need for its adherence are two of the major factors responsible for the growth of India Manufacturing ERP market. 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. Thus, due to the increasing number of SMEs leads to propel the growth of the India Manufacturing ERP market. Consequently, presenting tremendous opportunities for the rise in the business of India Manufacturing ERP market players.

Market Insights

Growing implementation and usage of technology and automation in the manufacturing sector propel the India Manufacturing ERP market

In the current business settings, almost everything in the end-to-end industrial and manufacturing environment is becoming intelligent, smart, and connected. There are new forms of discrete and process manufacturing, sensors, connected objects and smart machines that are emerging, and changing the ecosystem of how exchange and collaboration between people, machines, data, and technologies were done earlier. Today’s digital plant of smart manufacturing heavily relies on collecting, sorting, and analyzing the data and information, and turning them into business values, this increased demand is expected to fuel the growth of India Manufacturing ERP market.

High upfront costs involved in the implementation and up gradation may restrain the future growth of the India Manufacturing ERP market

Enterprises across the globe, especially Small and Medium-Sized enterprises are quite skeptical in investing in any new software or solutions, as it involves a high initial CAPEX and cost associated with its constant up-gradation and maintenance in the later part, due to their budget constraints. SMEs is no exception in this list, and it’s obvious that new enterprises are a bit hesitant in adopting this solution.

Enterprises that want to adopt ERP solutions need to be well educated and informed by solution providers in advance, about the intricacies of its implementations, such as the cost associated with the software license and its renewal, maintenance, service charges, training and consulting among others. Thus, these factors may hinder the growth of the India Manufacturing ERP market.

Deployment Model Segment Insights

Speed has become an essential competitive differentiator in the present market scenario, and the companies investing in new solutions expect to see the results quickly. The cloud-based manufacturing ERPs are best suited for small and midsize enterprise businesses, which has lower upfront costs, ease of access, and system stability. Cloud service is used for offering high service accessibility at minimum costs, as well as many organizations are taking advantage of cloud service to offers services and storing critical data, thus, creating a massive demand for manufacturing ERP across different sector. Thus, anticipated to create significant market space for India Manufacturing ERP market players.  

End-User Industry Segment Insights

The India Manufacturing ERP market on the basis of end-user industry is segmented into automotive, consumer electronics, metallurgy, pharmaceuticals, energy, food & beverage, chemicals, retail & garments, and others. The food & beverages segment led the India Manufacturing ERP market, by offerings and is anticipated to continue its dominance during the forecast period. With the growing consumer choice, and demand for high quality fresh, chilled as well as frozen products, the F&B industry is demanding manufacturing ERP solution to streamline the overall process which varies from selecting the products to packaging and dispatching are the major factor driving the revenue generation of the end-user industry segment in the India Manufacturing ERP market.

India Manufacturing ERP Market by Deployment Model

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India Manufacturing ERP Market: Strategic Insights

India Manufacturing ERP Market

• Market Size 2018
  US$ 262.7 Million
• Market Size 2027
  US$ 712.7 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• India

Market Segmentation

Deployment Model

• On-premises
• Cloud

End-user Industry

• Automotive
• Consumer Electronics
• Metallurgy
• Pharmaceuticals
• Energy
• Food & Beverage
• Chemicals
• Retail & Garments

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India Manufacturing ERP MarketReport Scope

India Manufacturing ERP Market Report Scope