The enterprise resource management market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing industries, innovations in technologies like AR, IoT, AI, predictive maintenance, digital twin, and telematics and global digitalization. According to the report of Ministry of Corporate Affairs (MCA); 10,954 companies were registered in June 2020. Out of which 3,399 companies belonged to business service segment, followed by 2,360 in manufacturing, 1,499 in trading, 1,411 in community, personal & social services and 644 in construction.
On the basis of deployment type, market is segmented into on-cloud and on-premise. The on-premise segment is highly adopted by an organization that requires control over the security of information about companies and customers. Unlike cloud deployment, on-premises deployment of enterprise resource management solutions requires high initial investment by organizations, but does not require incremental costs throughout the ownership, which is estimated to boost the segment growth. On the basis of industry size, market is segmented into small and medium scale industry and large-scale industry, where the large-scale segment holds a higher share in the market owing to the global functionality and large scalability.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the enterprise resource management market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Industries in countries like Japan, China, India, and Korea are increasing, leading to the increased complexity of managing data, workload, and applications, which would act as a significant factor driving the adoption of enterprise resource management among enterprises in this region. The market in North America and Europe is evaluated to occupy the largest share in terms of revenue due to the presence of top vendors in that region.
Increase in Number of Industries, Digital Globalization and Innovations in Technology to Drive Market Growth
Digital India is a flagship program of the Government of India, visions to transform India into a digitally empowered society and knowledge economy.
Global digitalization is increasing across various verticals, creating opportunities for the organizations to optimize relationship with customer and increase in emerging technologies like AR, IoT, AI, digital twin and others. These factors are estimated to boost the growth of enterprise resource management market.
This report also provides the existing competitive scenario of some of the key players of the global enterprise resource management which includes company profiling of IBM, Intelligent Process Solutions, Maintenance Connection, Aveva, Aptean, Emanit, Rfgen Software, Assetworks, Ultimo Software Solutions, UpKeep, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global enterprise resource management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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On the basis of industry, the automotive industry in the global connected machines market is projected to grow with a significant CAGR over the forecast period.
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The growth of the regional market could be supported by the early adoption of latest technologies and digitalization practiced in several industry verticals.
On the other hand, commercial users in Asia Pacific region are projected to surge the demand for IoT connected machines owing to strong initiatives introduced to improve IT infrastructure and rising adoption of the leading technologies.Increasing Use of Cloud Computing and rising demand of real time analytics in healthcare industry to Drive Market GrowthIncreasing demand in healthcare industry has opened up excess of opportunities.
Research Nester released a report titled “Dementia and Alzheimer’s Disease Treatment Market: Global Demand Analysis & Opportunity Outlook 2028″which delivers a detailed overview of global dementia and Alzheimer’s disease treatment market in terms of market segmentation by drug class, by distribution channel, and by region.Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.As per the World Health Organization, around 50 million people have dementia globally.
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