Global Third-Party Support for ERP Market is Expected to Grow at a CAGR of 20.41% Over the Forecast Period, Owing to the Rising Demand for Customization of ERP Software, Coupled with the Reduction of Costs Pertaining to the Maintenance of ERP Systems, says Absolute Markets Insights
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ERP systems help in the automation of work processes in an organization, and are being increasingly used in both small and medium, as well as large enterprises. However, each company often has its own requirements, and customization of ERP software is essential to meet these demands. Third-party ERP support providers are involved in the customization of ERP systems, and they also provide other services such as deployment support and security management, amongst others, at a lower rate as compared to the ERP solution providers. The rising demand for reducing ERP support costs through outsourcing is leading to the growth of the global third-party support for ERP market.
The COVID-19 pandemic is expected to have a positive impact on the global third-party support for ERP market in the coming years. Companies around the globe are looking towards digitizing their systems, and ERP solutions are being increasingly sought to reduce manual efforts in accounting, customer relationship management and budget forecasting, amongst others. Furthermore, prominent ERP solutions providers such as SAP SE, Oracle, Microsoft, etc., are providing attractive packages for small and medium enterprises. Hence, the third-party ERP support providers are seeing a growth in the number of end-users of ERP systems, mainly in the APAC and North American countries. Support in deployment and maintenance, software security, and cloud or hybrid cloud infrastructure is in demand due to the pandemic. Hence, the global third-party support for ERP market is expected to see a growth in revenue in the future as a result of the COVID-19 pandemic.
The detailed research study provides qualitative and quantitative analysis of third-party support for ERP market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- In terms of revenue, global third-party support for ERP market was valued at US$ 351.04 Mn in 2019 and is anticipated to grow at a CAGR 20.41% over the forecast period.
- North America accounted for the highest market share in the global third-party support for ERP market in 2019. The growth in the number of companies that are outsourcing deployment and maintenance of ERP systems to reduce costs, coupled with the higher number of third-party ERP support providers in the U.S. is a playing a crucial role in the higher market share of North America in the global third-party support for ERP market.
- Large enterprises accounted for the lion’s share in the global third-party support for ERP market in 2019. The rising demand on reducing ERP solution maintenance costs through the use of third-party support providers amongst large enterprises along with focus on the company’s core activities is a major reason for the higher share of large enterprises in the global third-party support for ERP market.
- Some of the players operating in the third-party support for ERP market are BCSynergy, ITelligence, Origina, Precision Solutions Group, Inc., Rimini Street, Inc., Spinnaker Support, LLC, Support Revolution, US Cloud LC, amongst others.
Global Third-Party Support for ERP Market:
- By Services
- Software Deployment and Management
- Application Management
- Software Security Management
- Interoperability and Integration
- License Management and Regulatory
- Database Management
- Cloud Advisory and Migration
- Software Health Monitoring
- Technology Advising
- Others
- By Organization Size
- Small and Medium Sized Enterprises
- Large Enterprises
- By Industry
- Banking, Financial Services and Insurance (BFSI)
- Information and Communication Technology
- Education
- Energy and utilities
- Government
- Healthcare
- Hospitality
- Manufacturing
- Media and entertainment
- Nonprofit
- Retail
- Transportation and logistics
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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