Cloud Enterprise Resource Planning Market by Component, Business Function, Organization Size, Vertical

Description

List of Tables

[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.

KEY MARKET STATISTICS
Base Year [2023]	USD 77.34 billion
Estimated Year [2024]	USD 94.92 billion
Forecast Year [2030]	USD 326.07 billion
CAGR (%)	22.82%

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 Systemes 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

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. 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.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Cloud Enterprise Resource Planning Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Cloud Enterprise Resource Planning Market?

3. What are the technology trends and regulatory frameworks in the Cloud Enterprise Resource Planning Market?

4. What is the market share of the leading vendors in the Cloud Enterprise Resource Planning Market?

5. Which modes and strategic moves are suitable for entering the Cloud Enterprise Resource Planning Market?

Product Code: MRR-034230D3E662

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand to improve operational efficiency and streamline business processes
  - 5.1.1.2. Ongoing digital transformation in the industries
  - 5.1.1.3. Increasing adoption across BFSI and government sector
- 5.1.2. Restraints
  - 5.1.2.1. Time and cost requirements of cloud ERP implementation
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of advanced technologies in ERP systems
  - 5.1.3.2. Improvements in features of cloud ERP systems
- 5.1.4. Challenges
  - 5.1.4.1. Data security and privacy threats that persist in cloud ERP systems
5.2. Market Segmentation Analysis
- 5.2.1. Component: Proliferating adoption of cloud ERP solutions
- 5.2.2. Business Function: Penetrating utilization of cloud ERP in the finance & accounting sector
- 5.2.3. Organization Size: Large enterprises utilizing cloud ERP for seamless integration between various systems
- 5.2.4. Vertical: Potential adoption of cloud ERP in banking, financial services, and insurance
5.3. Market Trend Analysis
- 5.3.1. Government adoption of cloud ERP and favorable partnership between product developers and end-users
- 5.3.2. Surging digitization initiatives and evolving IT infrastructure across industries in the Asia-Pacific region
- 5.3.3. Adoption of cloud ERP by SMEs with growing cloud penetration in support of government initiatives
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Cloud Enterprise Resource Planning Market, by Component

6.1. Introduction
6.2. Services
6.3. Solution

7. Cloud Enterprise Resource Planning Market, by Business Function

7.1. Introduction
7.2. Finance & Accounting
7.3. Human Capital Management
7.4. Inventory & Order Management
7.5. Sales & Marketing

8. Cloud Enterprise Resource Planning Market, by Organization Size

8.1. Introduction
8.2. Large Enterprises
8.3. Small and Medium-Sized Enterprises

9. Cloud Enterprise Resource Planning Market, by Vertical

9.1. Introduction
9.2. Aerospace & Defense
9.3. Banking, Financial Services, and Insurance
9.4. Education
9.5. Government & Public Sector
9.6. Healthcare
9.7. IT & Telecom
9.8. Manufacturing
9.9. Retail

10. Americas Cloud Enterprise Resource Planning Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Cloud Enterprise Resource Planning Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Cloud Enterprise Resource Planning Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. SAP and Bain Partner to Help Leaders Drive Cloud-Enabled ERP Transformation
- 13.3.2. ERP Buddies Announces Expansion into the United Kingdom as a Leading Cloud ERP Solution Provider
- 13.3.3. GROW with SAP Brings Proven Cloud ERP Benefits to Midsize Customers
- 13.3.4. Boomi Partners with Leading Japanese ERP Provider To Accelerate Digital Transformation in Japan
- 13.3.5. Net at Work Acquired Innovation ERP, a Sage X3 and Sage 300 Business Consulting Firm
- 13.3.6. Epicor Acquired Cloud-Based Financial Planning and Analysis Provider DSPanel
- 13.3.7. Aptean to Expand ERP Capabilities for Beverage Companies
- 13.3.8. MDF commerce announces a partnership with Acumatica offering its SMBs a fully integrated B2B eCommerce solution to Acumatica Cloud ERP
- 13.3.9. Rootstock Software Launches Digital Supplier Collaboration in the Fall '22 Release of its Manufacturing Cloud ERP
- 13.3.10. Microsoft announced the Microsoft Supply Chain Platform, a new design approach for supply chain agility, automation, and sustainability
- 13.3.11. Version 1 Named as Oracle SaaS Cloud ERP Partner for Enterprise Ireland
- 13.3.12. Academia ERP By Serosoft Gets INR 30 Crores Funding From SIDBI Ventures
- 13.3.13. Deltek Completes Its Acquisition of TIP Technologies

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio