Vietnam Enterprise Resource Planning (ERP) Market is expected to grow at a robust CAGR of 9.91%
Acceptance
of Digital Transformation & Real-time Analytics is one of the factors
driving the Vietnam Enterprise Resource Planning (ERP) Market during the
forecast period 2024-2028.
According
to TechSci Research report, “Vietnam
Enterprise Resource Planning (ERP) Market – By Region, Competition, Forecast and Opportunities, 2018-2028”,
the Vietnam Enterprise Resource Planning (ERP) Market has valued at USD
47.11 Million in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 9.91% through 2028. The Vietnam Enterprise
Resource Planning (ERP) Market is currently in a phase of significant
expansion, and this growth can be attributed to a variety of factors that are
reshaping the landscape of how businesses and individuals manage their
essential assets and services. ERP solutions have emerged as transformative tools,
revolutionizing the way industries safeguard critical infrastructure across
various sectors. Let's delve into the key driving forces behind the expansion
and adoption of ERP solutions in Vietnam.
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The
Vietnam Enterprise Resource Planning (ERP) Market is currently experiencing
robust growth, driven by a confluence of factors that are reshaping the
landscape of business operations and services across multiple sectors. ERP
services have become an integral part of how businesses and organizations in
Vietnam ensure uninterrupted and efficient operations in an ever-evolving
environment. Let's explore the key drivers behind this surge in adoption within
the Vietnam ERP market: Vietnam is undergoing rapid infrastructure development
and urbanization. Ongoing construction projects, encompassing commercial,
residential, and industrial sectors, are transforming the country's landscape.
As cities expand and new facilities emerge, there is a growing demand for
reliable and adaptable temporary power solutions. Construction sites rely on a
constant and stable supply of electricity for tools, machinery, and lighting.
Simultaneously, temporary cooling solutions are indispensable, providing a safe
and comfortable working environment, especially in the face of extreme heat in
some regions. The requirement for these services is propelling the adoption of
ERP solutions as the backbone of a dynamic and modernizing society.
The
increase in the urban population further intensifies the need for power and
cooling services in both residential and commercial areas. Temporary power
solutions are vital for addressing power shortages, outages, or complementing
existing grid infrastructure. This heightened demand is closely linked to the
surge in urbanization, driving the adoption of ERP solutions as a means to
maintain operational continuity and ensure efficient service delivery.
Vietnam
has become a magnet for global events, conferences, and large gatherings,
ranging from international sports events to cultural festivals and business
exhibitions. The success of these events heavily relies on reliable temporary
power solutions to provide electricity for stages, lighting, sound systems, and
other event essentials. Additionally, temporary cooling solutions play a
crucial role in ensuring the comfort and safety of event attendees,
particularly in outdoor settings where extreme weather conditions can be
challenging. The thriving event and hospitality industry in Vietnam is a
significant driver behind the increased demand for ERP services, as these
solutions are pivotal in creating memorable experiences for both local and
international visitors, thereby enhancing the nation's reputation as a
preferred destination for diverse gatherings.
Vietnam's
industrial and manufacturing sectors are experiencing significant expansion and
modernization. The country's economic diversification and investments in
sectors like manufacturing, petrochemicals, automotive, and pharmaceuticals are
fueling the need for ERP solutions. Many of these industries rely on
sophisticated machinery and equipment, which often demand precise temperature
control and a continuous power supply. ERP solutions are central to these
industrial settings, ensuring that manufacturing processes and equipment
function optimally, even during grid outages. Temperature control is critical
for preserving product quality and equipment performance. The integration of
advanced technologies in these sectors further accentuates the necessity for
temporary power to support automation, data centers, and precision machinery.
In
summary, the Vietnam ERP market is witnessing substantial growth driven by
rapid infrastructure development and urbanization, the expansion of the event
and hospitality industry, and the growth and modernization of the industrial
sector. These driving forces underscore the vital role of ERP solutions in
supporting Vietnam's development and modernization efforts across various
sectors, ultimately contributing to the resilience and operational continuity
of essential services.
The
manufacturing segment dominated the Vietnam Enterprise Resource Planning (ERP)
Market with a market share of 32.36% in 2022.
Manufacturing
in Vietnam has played a pivotal role in the country's remarkable growth,
contributing over 20 percent to its GDP and bolstering its trade balance
through attracting foreign direct investment (FDI).
Vietnam
has emerged as an attractive destination for multinational corporations seeking
to establish production facilities, owing to factors such as cost-effective
labor, strategic geographical location, and favorable trade agreements.
As
a result, organizations are actively exploring opportunities in Vietnam's
manufacturing sector, leading to a growing demand for Enterprise Resource
Planning (ERP) solutions.
Notably,
Vietnam is a significant exporter of rubber and plastic goods, with an annual
export value exceeding USD5 billion. Leveraging its substantial production
capacity, Vietnam's manufacturing sector is poised for rapid growth, making it
a promising market for ERP solutions. Thus, market players are advised to focus
on this burgeoning sector to capitalize on lucrative market opportunities.
Key
market players in the Vietnam Enterprise Resource Planning (ERP) Market are:-
- Oracle
Vietnam Pte Ltd
- Infor
Vietnam Inc
- Enterprise
Management Software Joint Stock Company (FAST)
- SAP
Vietnam Co. Ltd.
- Epicor
Software Vietnam Company Limited
- IBM
Vietnam Co., Ltd.
- Microsoft
Vietnam Limited Liability Company
- Sage
Software Asia Pte Ltd
- ESI
Services Vietnam Co. Ltd
- DEHA
Vietnam Joint Stock Company(Syspro Software Company)
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“The
Southern region dominates the Vietnam Enterprise Resource Planning (ERP)
market. This is due to the following factors:
Concentration
of businesses: The Southern region is home to the largest concentration of
businesses in Vietnam. This is due to the region's favorable geographical
location, its proximity to major seaports and airports, and its well-developed
infrastructure.
Higher
level of economic development: The Southern region is the most economically
developed region in Vietnam. This has led to a higher demand for ERP solutions
from businesses in the region. Greater awareness of ERP benefits: Businesses in
the Southern region are more aware of the benefits of ERP than businesses in
other regions of Vietnam. This is due to the region's exposure to global best
practices and its higher concentration of foreign-invested enterprises.
Here
are some of the key industries that are driving the growth of the ERP market in
the Southern region:
Manufacturing:
The manufacturing industry is the largest industry in the Southern region, and
it is also the largest user of ERP solutions in the region.
Retail:
The retail industry is another major user of ERP solutions in the Southern
region.
Financial
services: The financial services industry is also a major user of ERP solutions
in the Southern region. Healthcare: The healthcare industry is a growing user
of ERP solutions in the Southern region.
Education:
The education industry is another growing user of ERP solutions in the Southern
region. The ERP market in the Southern region is expected to continue to grow
in the coming years. This is due to the region's favorable economic conditions,
its high concentration of businesses, and its growing awareness of the benefits
of ERP.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Vietnam
Enterprise Resource Planning (ERP) Market Segmented By Component (Software and
Services), By Deployment Type (On-Premises and Cloud), By Function (Finance,
Human Resource, Customer Management, Inventory Management, Supply Chain,
Others), By End User (Manufacturing, BFSI, Healthcare, Retail, Government &
Utilities, IT & Telecom, Others), By Enterprise (Large, Small & Medium),
By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of Vietnam Enterprise Resource Planning (ERP) Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam Enterprise Resource Planning (ERP)
Market.
Contact
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