Manufacturing ERP Market in Automotive Segment is Expected to Grow Substantially by 2024

The Manufacturing ERP Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

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Segmentation of the manufacturing ERP market by secondary vertical includes metallurgy, automotive, consumer electronics, electrical devices, energy, pharmaceuticals, chemicals, food and beverage, retail and garment, and others. The automotive segment is anticipated to dominate the manufacturing ERP market during the forecast period owing to the increase in customer demands, stringent compliance requirements, and evolving industry standards. Manufacturing ERP software also allows the integration of various value chain activities, inventory management, and tracking of vehicles in terms of recall and reimbursements.

The growth of manufacturing activities and the broad scale of operations that an organization operating in the manufacturing sector is required to maintain has led to the technological development by players in the manufacturing ERP market. An ideal system can aid the company in decision making, eliminate risk, reduce wastage, and lead to overall growth. Awareness about these benefits is a major factor promoting the manufacturing ERP industry.

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Penetration of big data analytics is expected to generate an organizational demand for the manufacturing ERP market. The shift toward a customer-centric business has led to rising applications of big data analytics, which can aid in supply planning, output forecasting, and manufacturing process defect tracking and ERP software can allow organizations to gain higher flexibility and increase the visibility of critical data. This software can also let companies exchange data across business lines when users create it, allowing different parties to take advantage of that information.

North America manufacturing ERP market is expected to dominate in terms of revenue generation due to the increasing adoption of cloud solutions and high focus on the accumulation of customer data to aid in the decision-making process. The manufacturing ERP industry in Asia Pacific is anticipated to have a high growth owing to the increasing number of entrants into automotive, pharmaceutical, garment, and consumer electronics manufacturing markets.

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Vendors operating in the global manufacturing ERP market include SAP SE, IQMS, Ramco Systems, NetSuite, Inc., Epicor Software Corporation, and Oracle.