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Cloud ERP Market reached USD 36.5 billion in 2021 and is estimated to touch USD 117.2 billion in 2029, and growing at a whopping CAGR of 15.7% from 2022-2029
The factors driving growth of the Cloud ERP Market includes rising focus by businesses on enhancing operational efficiency and streamlining business processes such as sales and marketing, procurement and supply chain management, emerging trend of Bring Your Own Device (BYOD) and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) by major companies, Government initiatives promoting digital transformations, rising focus by companies on enhancing IT infrastructure and rapid urbanization, are some of the additional factors supplementing the Cloud ERP Market size. In addition, the increasing investments by major corporations on research and development, strategic partnerships between enterprises, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth.
However, growth of the Cloud ERP Market is hindered due to insufficient customization options available for SaaS ERP solutions.
The major players operating in the market are Acumatica, Inc., SAP SE, Koch Industries, Inc., Sage Group Plc, Oracle Corporation, International Business Machines Corporation, Microsoft Corporation, Plex Systems, Ramco Systems Limited and Epicor Software Corporation among others.
Based on Type, the Finance and Accounting segment is predicted to grow at a significant CAGR during the forecast period
Cloud ERP solutions help businesses in maintain balance sheet, handling huge transaction volumes and provides automatic billing and invoicing, are some of the features pushing Cloud ERP Market Share.
Based on Industry Verticals, the Manufacturing segment is projected to grow at a robust CAGR over the forecast period
Cloud ERP solutions aids companies in minimizing infrastructure and logistics costs, managing data operations in real-time and provide market trends, are propelling segment’s growth.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Presence of the leading players such as International Business Machines Corporation, Oracle Corporation and Microsoft Corporation, growing adoption of advanced technologies, rising tech-savvy population and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Development
In 2020, Koch Industries, Inc. acquired Infor from Golden Gate Capital. Infor is one of the leading software companies that develop SMB and Enterprise ERP software cloud products for industries including Manufacturing, Healthcare, Retail, and others
Market Segmentation
Segmentation by Business Function Type
Finance and Accounting
Sales and Marketing
Inventory Management
Others
Segmentation by Organization Size
Small and Medium Enterprises
Large Enterprises
Segmentation by Industry Vertical
BFSI
Telecom
Healthcare and Life Sciences
Manufacturing
Government and Public Sector
Aerospace and Defence
Retail
Education
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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