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Forecast Period
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2024-2028
|
|
Market Size (2022)
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USD 2.14 Billion
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Largest Market
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Dubai
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CAGR (2023-2028)
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8.38%
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Fastest Growing Segment
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Healthcare
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UAE ERP Market
is anticipated to grow at a
8.38% CAGR during the forecast period of 2024-2028. United Arab Emirates has undergone instant
financial growth in recent years with a focus on differentiating its economy
and decreasing its dependency on oil. As part of these efforts, many companies
in the UAE are transferring to enterprise resource planning systems to
modernize their operations and improve efficiency.
Enterprise
Resource Planning (ERP) solutions are commonly used by organizations to manage
their business in structural and standard way. In the current period, an ERP
solution’s business functions have processed from minor aid and planning
operations to whole business process integration, which includes major
responsibilities and decision-making. An ERP software comprises several
software modules, and every module concentration on certain business
activities, including material purchasing, inventory control, accounting,
finance, and HR. Also, to fulfil the needs of the companies, modules can be
customized. The growing need for operational efficiency and transparency in
business processes and escalating demand for ERP software from small &
medium enterprises, are anticipated to drive the market growth. In addition,
the growing adoption of cloud and mobile applications is estimated to
progressively impact the growth of the market in the UAE. The high acceptance
of ERP solutions in small and medium enterprises and the rapid change of modern
business models are likely to provide better opportunities for the expansion of
marketing planning resources in the coming years.
In
conclusion, the country has shown tremendous results in the development of
renewable energy, such as solar and wind, as well as other energy sources. This
will impact the sales of ERP solutions in the region and thus, provide
substantial growth in the UAE ERP market. The market is vastly encouraging with
several companies providing energy-saving services in the region.
The Growing
Acceptance of Cloud Computing
The
acceptance of cloud computing is expected to increase the popularity of ERP
solutions in UAE. ERP solution is expected to be dominated by cloud-based solutions.
The implementation and operational cost of cloud-based solutions are comparatively
less as compared to on-premises solutions. The business infrastructure and
market size of small and medium size businesses are higher than large
enterprise and thus, they prefer less costly and effective solution. Cloud
based solutions fulfil the needs of such companies, and thus is expected to
drive the UAE ERP market as well. Cloud ERP solution suggestions lower
operational and implementation costs, automatic updates, easier and faster
execution and maintenance, and complete mobility for users. These benefits make
cloud ERP solutions more attractive to businesses, especially small and
medium-sized businesses, and are expected to drive the growth of the UAE ERP
market in the upcoming years.
Need
for Acquiescence with Government Authorities
The UAE
government has started several procedures that require business to fulfil with
specified requirements. Government provides facilities to various sectors such
as healthcare, retail, finance, and manufacturing. ERP solutions can alleviate
corporations to conform with these guidelines by requiring a single source of
fact for all their data. This can help organizations to avoid penalties for
non-acquiescence, and it can also help them to improve their efficiency and
productivity. These regulations require healthcare suppliers to restrain
precise records of persistent data, and also require them to report certain
types of incidents to the government. ERP solutions can help healthcare
providers to comply with these regulations by providing a centralized system
for storing and managing patient data. The necessity for accordance with
government policies is a major driver of the UAE ERP market. As the UAE
government continues to implement new regulations, the demand for ERP solutions
is expected to grow. In addition to the need for compliance, there are several
other factors that are driving the growth of the UAE ERP market. These reasons
include the growing demand for cloud-based ERP solutions, the rising demand
from small and medium-sized businesses, and the strengthening accessibility of
skilled IT professionals. The UAE ERP market is expected to grow at a high CAGR
during 2024-2028. This growth is being led by a quantity of factors, including
the necessity for accordance with government regulations. Some advantages that
ERP solutions can provide corporations in UAE are stepped forward settlement
with authorities’ regulations:
As
mentioned above, ERP solutions can help businesses to comply with a wide range
of government regulations. This can help businesses to avoid penalties and can
help them to improve the efficiency of their operations. Increased efficiency
and productivity: ERP solutions can help businesses to automate their business
processes, which can lead to augmented efficiency and productivity. This can
release up employees to focus on more strategic tasks, and it can also help
businesses to reduce costs.
Improved
decision-making: ERP solutions can provide businesses with perceptions into
their procedures that can help them to make better outcomes. This will lead to
enhanced growth and cost effectiveness. Overall, ERP solutions can offer
several advantages to corporations in the UAE. These advantages include
better-quality in accordance with government instructions, increased efficiency
and productivity, improved decision-making, and superior customer service. As
the UAE government continues to employ new regulations, the demand for ERP
solutions is expected to grow in the forecast period.
Rising Demand
from Small and Medium-Sized Businesses
The rising demand from small and medium-sized
businesses for ERP solution has significantly increased over the period. In
recent time, small and medium-sized businesses have grown in substantial value
in the UAE's economic landscape. These firms contribute to job creation
opportunities, innovation, and overall economic growth. Recognizing the
manifest of SMBs, the UAE government has numerous active offers and amendments
to finance their development and urge entrepreneurship. Moreover, a growing
number of small-medium businesses are arising through distinct sectors such as
retail, manufacturing, healthcare, and services.
With their growth, small & medium businesses
(SMBs) encounter the challenge of operating complicated business practices,
efficiently. ERP solutions are made for overcoming such situations. ERP
software assimilates diverse functional spaces such as finance, sales,
inventory management, human resources, and customer relationship management
into an integrated platform. It enables firms to automate processes, increase
data accuracy, and extend real-time insights into their operations.
The rising demand for ERP systems among SMBs in the
UAE can be attributed to several factors. As we know, SMBs are progressively
identifying the need for digital transformation to stay viable in an
increasingly growing business environment. The SMBs understand that manual
developments and unrelated advances impede progress and effectiveness. By
implementing an ERP solution, SMBs can rationalize their operations, optimize
resource allocation, and increase overall productivity. For ease of doing
business and transparency, the government started promoting the utilization of
ERP solutions to other firms in the recent year. The small firms are attempting
to affiliate themselves with these initiatives and leverage government support,
and thus have become more interested in buying ERP solutions. Small medium
businesses (SMB) now have more knowledge of cloud-based ERP solutions, and how
it will help them to enhance their business modules. Cloud ERP extends
flexibility, scalability, and cost-efficiency, making it an ideal choice for
SMBs with limited resources. Moreover, the UAE government's focus on
digitalization and smart initiatives has further accelerated the adoption of
ERP systems among small and medium businesses. In conclusion, the rising demand
for ERP systems in the UAE is primarily driven by small and medium-sized
businesses. These corporations’ evaluation the want for digital transformation,
stepped forward operational performance, and actual-time insights. With
government support, availability of cloud-based solutions, and increasing
awareness of its benefits, firms are embracing ERP systems to unlock their full
potential and drive growth in the UAE's dynamic business landscape.
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Recent
Developments
·
In June 2023, TrueBays IT Software Trading LLC, a leading provider
of ERP software solutions, announced the news of its custom-designed Enterprise
Resource Planning (ERP) software, precisely designed for small and medium-sized
businesses in Dubai, United Arab Emirates. This advanced software was developed
to offer companies tailor-made solutions that meet their individual
requirements and streamline their operations efficiently.
Market
Segments
UAE ERP Market is divided based on Component, Deployment
Type, Function, End User, and Region. Based on Component, the market is further
bifurcated into Software and Services. Based on Deployment Type, the market is divided
into On-Premises and Cloud. Based on Function, the market is divided
into Finance, Human Resource, Customer Management, Inventory Management, Supply
Chain and Others. Based on End User, the market is divided into Manufacturing, BFSI,
Healthcare, Retail, Government & Utilities, IT & Telecom, and Others.
Based on region, the market is divided among Dubai, Abu Dhabi, Sharjah, and
Rest of UAE.
Market Players
Major market
players of the UAE ERP Market are IBM Middle East FZ. LLC, SAP Middle East & North Africa (L.L.C), Oracle
Corporation, Sage Software Middle East FZ-LLC, Doosan Heavy Industries UAE, Microsoft
Gulf FZ LLC, Workday, Inc, Infor FZ LLC, Epicor Software Middle East Ltd and
D2M Solutions Ltd (ESI Services).
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 – 2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024 – 2028
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report coverage
|
Revenue forecast, company share, growth
factors, and trends
|
|
Segments covered
|
Component
Deployment Type
Function
End User
Region
|
|
Regional scope
|
Dubai, Abu Dhabi, Sharjah, Rest of UAE
|
|
Key companies profiled
|
IBM Middle East FZ. LLC, SAP Middle East
& North Africa (L.L.C), Oracle Corporation, Sage Software Middle East FZ-LLC,
Doosan Heavy Industries UAE, Microsoft Gulf FZ LLC, Workday, Inc, Infor FZ
LLC, Epicor Software Middle East Ltd and D2M Solutions Ltd (ESI Services)
|
|
Customization scope
|
10% free report customization with purchase.
Addition or alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore
purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, UAE ERP Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
UAE ERP Market, By Component:
o Software
o Services
·
UAE ERP Market, By Deployment
Type:
o On-Premises
o Cloud
·
UAE ERP Market, By Function:
o Finance
o Human Resource
o Customer Management
o Inventory Management
o Supply Chain
o Others
·
UAE ERP Market, By End User:
o Manufacturing
o BFSI
o Healthcare
o Retail
o Government & Utilities
o IT & Telecom
o Others
·
UAE ERP Market, By Region:
o Dubai,
o Abu Dhabi
o Sharjah
o Rest of UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE ERP Market.
Available Customizations:
UAE ERP with
the given market data, Tech Sci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
·
Detailed analysis and profiling
of additional market players (up to five).
UAE ERP Market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]