[188 Pages Report] The Cloud Enterprise Resource Planning Market size was estimated at USD 77.34 billion in 2023 and expected to reach USD 94.92 billion in 2024, at a CAGR 22.82% to reach USD 326.07 billion by 2030.
Cloud ERP software is accessible over the Internet and delivers advanced functionality for all the core business functions in an organization. This software gives companies access to mission-critical sites at any time, from any location, and offers the infinite ability to scale and innovate. Cloud ERP systems deliver tremendous value to organizations, helping them boost productivity and gain insights. A cloud ERP system intelligently automates processes, provides AI and ML insights, and allows companies to innovate business models. Moreover, the rising demand to improve operational efficiency and streamline business processes and ongoing digital transformation in various industries is enhancing the adoption of cloud ERP solutions. However, data security and privacy threats and more time and cost required for cloud ERP implementation significantly impede cloud ERP utilization. In addition, integrating advanced technologies and innovative features of cloud ERP systems creates robust opportunities for developing and adopting cloud ERP systems.
Component: Proliferating adoption of cloud ERP solutions
Services in cloud ERP are essential for enhancing and extending the life of applications and focus on seamlessly managing business-critical applications that enable the company to meet ever-changing industry and consumer demands. These services help enterprises and organizations address the rising challenges posed by the rapid pace of change in technology. Managed services in cloud ERP refers to the outsourcing of various aspects of a company’s IT infrastructure, applications, or systems to an external provider. The managed service provider (MSP) assumes ongoing responsibility for monitoring, managing, and supporting these components either fully or partially based on agreed-upon service levels. Professional Services primarily deal with the initial implementation, customization, and integration of these solutions. Consulting services enable organizations to understand their unique requirements and assess the suitability of different ERP platforms. After an organization has selected an appropriate cloud ERP system based on expert consultancy, the cloud ERP system needs to be implemented and integrated into the existing system, which entails configuring the chosen software according to the company’s unique processes and workflows. Support and maintenance services are vital for ensuring optimal performance of the cloud ERP system. Organizations that migrate their on-premises enterprise applications to modern cloud solutions consider the tasks required for a cloud ERP implementation project. Cloud ERP solution offers affordable and comprehensive solutions for companies operating in the present digital economy.
Business Function: Penetrating utilization of cloud ERP in the finance & accounting sector
Incorporation of the cloud enterprise resource planning (ERP) finance & accounting system module actively manages cash flow in the business and makes it more efficient. Cloud ERP in human capital management is a complete cloud solution that connects every human resource process and every person across the business enterprise. Cloud ERP in inventory & order management assists business organizations in controlling system-wide inventory across geographically dispersed locations to efficiently manage their distribution process without losing track of costs. Cloud ERP sales & marketing modules help a company stay competitive and streamline their sales and marketing activities of domestic and export sales.
Organization Size: Large enterprises utilizing cloud ERP for seamless integration between various systems
Cloud enterprise resource planning (ERP) solutions can provide detailed and accurate projections and automate the workflow of a large organization. The cloud ERP offers large enterprise space that handles large employee data supporting large enterprise accounts’ global localization and globalization needs. Most small and medium-sized enterprises are transitioning from on-premise models to cloud-based ERP solutions due to low infrastructure costs. Small businesses rely on cloud ERP software that eliminates organizing data within the company’s unreliable server and updates the software independently.
Vertical: Potential adoption of cloud ERP in banking, financial services, and insurance
Cloud ERP deployment in the aerospace & defense industry allows manufacturers to achieve accurate quality assurance and flexible supply chain management. Cloud ERP is used to reorganize institutions, standardize business practices, and align technology to manage complete data across educational institutions. Cloud ERP empowers state and local governments with the technology to improve the budget, allocate resources, and respond to the changing demands of citizens. Cloud ERP for healthcare business management provides an integrated view of all clinic and hospital operations. Cloud-based ERP systems deployed across IT and telecom help organizations access real-time data that connect across diverse departments and channels in a single system. Retailers use ERP solutions to provide reports based on real-time insights into market situations, which helps them make swift strategic decisions and ensure the profitability of their businesses.
Regional Insights
The Americas have a significant landscape in the cloud enterprise resource planning market driven by the need for improved efficiency and cost reduction. Key sectors include manufacturing, healthcare, retail, and government agencies. Notable initiatives include investment in research and development by tech giants and the growing demand for cloud ERP systems among small to medium businesses (SMBs) seeking to optimize their operations with minimal upfront costs and companies increasingly focusing on data security and compliance amidst strict privacy regulations, further fueling the market growth. In the European Union (EU), digital transformation strategies are driving the adoption of cloud ERP solutions across industries. A rising number of startups entering the region contribute to increased investments in cloud-based technologies. The Middle East displays significant growth potential in cloud ERP adoption due to its ongoing digital transformation initiatives. The APAC has observed a developing landscape in the cloud ERP market, driven by strong government support for digital transformation initiatives and robust domestic demand from sectors including manufacturing, retail, and healthcare. Increasing internet penetration, thriving startup ecosystem, and government initiatives are now adopting cost-effective SaaS-based ERP solutions tailored to their needs. The rising skill gap in data analytics has also spurred investments in training programs to enhance workforce capabilities in utilizing these systems.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Cloud Enterprise Resource Planning Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Cloud Enterprise Resource Planning Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Cloud Enterprise Resource Planning Market, highlighting leading vendors and their innovative profiles. These include abas Software GmbH, Acumatica, Inc., Azentio Software Private Limited, Dassault Syst?mes SE, Deltek, Inc., ECI Software Solutions, Inc., Epicor Software Corporation, Frappe Technologies Pvt. Ltd., Genius Solutions, Global Shop Solutions, Inc., GUS Group, IFS World Operations AB, Infor, LionOBytes LLC, Microsoft Corporation, OpenPro, Inc., Oracle Corporation, QAD Inc., Ramco Systems Limited, Rockwell Automation, Inc., Rootstock Software, SAP SE, Synergy Technology Ltd., SYSPRO Proprietary Limited, The Sage Group PLC, TOPIX Business Software AG, Unit4 Group Holding B.V., Verpura GmbH, Workday, Inc., and Xentral ERP Software GmbH.
Market Segmentation & Coverage
This research report categorizes the Cloud Enterprise Resource Planning Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Services
- Managed Services
- Professional Services
- Consulting
- Implementation & Integration
- Support & Maintenance
- Solution
- Services
- Business Function
- Finance & Accounting
- Human Capital Management
- Inventory & Order Management
- Sales & Marketing
- Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
- Vertical
- Aerospace & Defense
- Banking, Financial Services, and Insurance
- Education
- Government & Public Sector
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Colorado
- Connecticut
- Florida
- Illinois
- Michigan
- Minnesota
- New York
- Ohio
- Pennsylvania
- Texas
- Washington
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Cloud Enterprise Resource Planning Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Cloud Enterprise Resource Planning Market?
- What are the technology trends and regulatory frameworks in the Cloud Enterprise Resource Planning Market?
- What is the market share of the leading vendors in the Cloud Enterprise Resource Planning Market?
- Which modes and strategic moves are suitable for entering the Cloud Enterprise Resource Planning Market?
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