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PUBLISHER: Verified Market Research | PRODUCT CODE: 1615899

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PUBLISHER: Verified Market Research | PRODUCT CODE: 1615899

Global Cloud ERP Market Size By Component (Solution, Services), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By End-User (BFSI, IT and Telecom), By Geography And Forecast

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Cloud ERP Market Size And Forecast

Cloud ERP Market size was valued at USD 55.40 Billion in 2022 and is projected to reach USD 168.34 Billion by 2030, growing at a CAGR of 12.53% from 2023 to 2030. The growing demand for cloud ERP across the various end-use industries is one of the primary factors which boosts the market's growth. Furthermore, the rising focus of the companies to streamline the business processes and improves overall efficiency also driving the adoption of the cloud ERP across enterprises. The Global Cloud ERP Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Cloud ERP Market Definition

Cloud ERP is an enterprise resource planning (ERP) software that is accessible over the internet. It automates and integrates all the essential operation and financial business functions and provides a single source of data. It includes order and

supply chain management

and helps with procurement, production, distribution, and fulfillment. The software basically runs on a vendor's cloud platform as opposed to an on-premises network, allowing organizations to access the internet. The cloud ERP system worked with a combination of technologies that are connected by a high-speed network. The cloud-based ERP solution is always online and the ERP providers handle security updates.

Some of the key features of cloud ERP include the ability to access customer information, financial data, human resources management tools, sales histories, live operating metrics, supply chain status, and more. One of the biggest benefits of a cloud ERP solution is a reduction in the overall cost which starts from the time of implementation. With cloud ERP, businesses can save the cost of purchasing servers, IT staffing, consultants, and database creation. Furthermore, companies with the on-premise ERP solution have to encounter additional costs for the on-call resources, maintenance upgrades, and updates, as well as additional servers as the company grows.

Cloud ERP generally cost around 30% less than the on-premise ERP solution. In addition to this, the cloud ERP solution allows users across the globe to access information on time, from anywhere, and at any time. Furthermore, a cloud ERP solution is tending to integrate well with other cloud-based solutions and new modules can be added to a cloud ERP system without downtime or additional hardware. Upgrading the on-premise ERP solution requires more time and may also require a higher professional to carry out the process, whereas the cloud ERP updates can take only about 30 minutes and usually occur during off-hours to prevent business disruptions.

Global Cloud ERP Market Overview

The rising shift toward digital transformation across industries is one of the key factors which is driving the growth of the Global Cloud ERP Market. Transformative technologies such as the cloud are drastically changing the way businesses interact, innovate, and gain valuable insights. They give organizations the agility to embrace and sustain state-of-the-art technologies which can drive innovation. The increasing adoption of cloud ERP in the construction industry is primarily driving the growth of the market. The Covid-19 pandemic has bought an opportunity for the construction industry players to steer into an era of technological transformation.

With the technological integration, construction companies are looking to stabilize operations and recapture the growth lost in the crisis. Companies across industries are moving toward Enterprise Resource Planning (ERP) to the cloud in order to leverage the benefits that come with cloud-based ERP. It helps businesses to focus on fast flexible implementations, simplicity, automation, continuous business innovations, and new functionality, offers savings, better insights, access to new technologies, deeper security, secure mobile device support, and scalability.

Global Cloud ERP Market: Segmentation Analysis

The Global Cloud ERP Market is segmented on the basis of Component, Organization Size, End-User, And Geography.

Cloud ERP Market, By Component

  • Solution
  • Services

Based on Component, The market is segmented into Solution and Services. The Solution segment held the largest market share in the Global Cloud ERP Market in 2021. The demand is mainly due to the low cost of deployment and flexibility offered by cloud ERP solutions. Therefore, many companies prefer the cloud ERP solution over the cloud ERP Services.

Cloud ERP Market, By Organization Size

  • Large Enterprises
  • Small and Medium-sized Enterprises

Based on Organization Size, The market is segmented into Large Enterprises and Small and Medium-sized Enterprises. The Large Enterprises segment accounted for the major market share in the year 2021. This is mainly attributed to the high economies of scale which enable a large organization to adopt cloud ERP. On the other hand, Small and Medium-sized Enterprises are estimated to grow at the highest CAGR over the forecast period.

Cloud ERP Market, By End-User

  • BFSI
  • IT & Telecom
  • Healthcare
  • Government and Public Sector
  • Aerospace and Defense
  • Retail
  • Others

Based on End-User, The market is segmented into BFSI, IT & Telecom, Healthcare, Government and Public Sector, Aerospace and Defense, Retail, and Others. The BFSI segment accounted for the largest market share in the year 2021. BFSI is a data-driven industry and generates huge data such as helpline data, transaction details, emails, loan data, customer information, etc.

  • In addition, today, customer wants a digital experience for account data in real-time, and personalized recommendations for better ways for them to spend, invest and save. At the same time, banks are also wanting more efficient processes for themselves that give them operational efficiency and strategic advantage. Cloud ERP enables the BFSI industry to improve the customer experience as well as improve the efficiency of bank processes.

Cloud ERP Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world
  • On the basis of Regional Analysis, The Global Cloud ERP Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region accounted for the leading market share in the Global Cloud ERP Market and is expected to continue its dominance over the forecast period. This is mainly due to the presence of a large number of key vendors of cloud ERP in the region.
  • Furthermore, highly developed IT infrastructure across the countries such as U.S. and Canada, boosts the demand for cloud ERP in the region. On the other hand, the Asia Pacific region is estimated to grow at the highest CAGR in the Global Cloud ERP Market. The rising adoption of cloud solutions across the region is a primary factor, which significantly contributes to the growth of the market.

Key Players

  • The "Global Cloud ERP Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
  • Oracle Corporation, Microsoft Corporation, Sage Software, Inc., Intacct Corporation, Plex Systems, Inc., SAP SE, Infor, Unit4, Workday, QAD Inc., Acumatica, Deltek, Rootstock Software, Epicor Software Corporation, Financialforce.Com, Ramco Systems.
  • The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

  • In April 2022, Rotair, an Italian company of production and support of mobile air compressors announced that it has implemented Infor CloudSuite Industrial Enterprise, powered by Amazon Web Services (AWS). This solution will enable them to optimize processes and operations across the companies of the group.
  • In January 2022, Sauermann Group, manufacturers of innovative solutions in the industrial and HVACR markets announced that it has selected QAD Adaptive ERP to support and consolidate its international structure into a globally manageable business.
Product Code: 4857

TABLE OF CONTENTS

1 INTRODUCTION OF GLOBAL CLOUD ERP MARKET

  • 1.1 Overview of the Market
  • 1.2 Scope of Report
  • 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

  • 3.1 Data Mining
  • 3.2 Validation
  • 3.3 Primary Interviews
  • 3.4 List of Data Sources

4 GLOBAL CLOUD ERP MARKET OUTLOOK

  • 4.1 Overview
  • 4.2 Market Dynamics
    • 4.2.1 Drivers
    • 4.2.2 Restraints
    • 4.2.3 Opportunities
  • 4.3 Porters Five Force Model
  • 4.4 Value Chain Analysis

5 GLOBAL CLOUD ERP MARKET, BY COMPONENT

  • 5.1 Overview
  • 5.2 Solution
  • 5.3 Services

6 GLOBAL CLOUD ERP MARKET, BY ORGANIZATION SIZE

  • 6.1 Overview
  • 6.2 Large Enterprises
  • 6.3 Small and Medium-sized Enterprises

7 GLOBAL CLOUD ERP MARKET, BY END-USER

  • 7.1 Overview
  • 7.2 BFSI
  • 7.3 IT & Telecom
  • 7.4 Healthcare
  • 7.5 Government and Public Sector
  • 7.6 Aerospace and Defense
  • 7.7 Retail
  • 7.8 Others

8 GLOBAL CLOUD ERP MARKET, BY GEOGRAPHY

  • 8.1 Overview
  • 8.2 North America
    • 8.2.1 U.S.
    • 8.2.2 Canada
    • 8.2.3 Mexico
  • 8.3 Europe
    • 8.3.1 Germany
    • 8.3.2 U.K.
    • 8.3.3 France
    • 8.3.4 Rest of Europe
  • 8.4 Asia Pacific
    • 8.4.1 China
    • 8.4.2 Japan
    • 8.4.3 India
    • 8.4.4 Rest of Asia Pacific
  • 8.5 Rest of the World
    • 8.5.1 Latin America
    • 8.5.2 Middle East and Africa

9 GLOBAL CLOUD ERP MARKET COMPETITIVE LANDSCAPE

  • 9.1 Overview
  • 9.2 Company Market Ranking
  • 9.3 Key Development Strategies

10 COMPANY PROFILES

  • 10.1 Oracle Corporation
    • 10.1.1 Overview
    • 10.1.2 Financial Performance
    • 10.1.3 Product Outlook
    • 10.1.4 Key Developments
  • 10.2 SAP SE
    • 10.2.1 Overview
    • 10.2.2 Financial Performance
    • 10.2.3 Product Outlook
    • 10.2.4 Key Developments
  • 10.3 Microsoft Corporation
    • 10.3.1 Overview
    • 10.3.2 Financial Performance
    • 10.3.3 Product Outlook
    • 10.3.4 Key Developments
  • 10.4 Infor
    • 10.4.1 Overview
    • 10.4.2 Financial Performance
    • 10.4.3 Product Outlook
    • 10.4.4 Key Developments
  • 10.5 Unit4
    • 10.5.1 Overview
    • 10.5.2 Financial Performance
    • 10.5.3 Product Outlook
    • 10.5.4 Key Developments
  • 10.6 Workday
    • 10.6.1 Overview
    • 10.6.2 Financial Performance
    • 10.6.3 Product Outlook
    • 10.6.4 Key Developments
  • 10.7 Sage Software, Inc.
    • 10.7.1 Overview
    • 10.7.2 Financial Performance
    • 10.7.3 Product Outlook
    • 10.7.4 Key Developments
  • 10.8 Epicor Software Corporation
    • 10.8.1 Overview
    • 10.8.2 Financial Performance
    • 10.8.3 Product Outlook
    • 10.8.4 Key Developments
  • 10.9 QAD Inc.
    • 10.9.1 Overview
    • 10.9.2 Financial Performance
    • 10.9.3 Product Outlook
    • 10.9.4 Key Developments
  • 10.10 Plex Systems
    • 10.10.1 Overview
    • 10.10.2 Financial Performance
    • 10.10.3 Product Outlook
    • 10.10.4 Key Developments

11 KEY DEVELOPMENTS

  • 11.1 Product Launches/Developments
  • 11.2 Mergers and Acquisitions
  • 11.3 Business Expansions
  • 11.4 Partnerships and Collaborations

12 Appendix

  • 12.1 Related Research
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