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The cloud ERP market size is forecast to increase by USD 19.98 billion, at a CAGR of 11.53% between 2023 and 2028. Market growth is influenced by several factors, including the rising demand for process automation and digital transformation, the increasing need for cloud ERP software among small and medium-sized enterprises (SMEs), and the necessity for ERP that enhances business efficiency. Cloud ERP serves as a comprehensive, integrated business management system that allows users to manage essential processes related to human resources, supply chain management, manufacturing, finance, accounting, and project management, along with specific industry-related functions such as enterprise asset management and product lifecycle management. This software facilitates the definition of business processes and promotes the integration of operations and data flow throughout the organization, ensuring optimal use of human, financial, and operational resources. Key sectors that utilize cloud ERP include banking, financial services, insurance (BFSI), manufacturing, and service-oriented companies.
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The cloud ERP market growth analysis report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The cloud ERP market is shaped by various factors, including the growing use of biometrics and encryption to enhance authentication and security in applications across sectors such as consumer electronics and aerospace. Companies in the market utilize customer relationship strategies and analytical tools on e-commerce platforms to evaluate data and inform strategic decisions. Geographic reach and expansion are vital to market dynamics, as firms employ cloud-based platforms for expert analysis and PESTLE assessments to navigate trade regulations and import/export challenges. As the market develops, investments in biometrics technology and e-passport solutions support revenue growth and foster innovation in polyurethane dispersions, enhancing performance and durability.
The solutions segment is expected to experience significant market share growth during the forecast period. This segment primarily encompasses software platforms designed for the effective execution and implementation of enterprise resource planning (ERP) systems, integrating aspects such as pricing, timing, speed, quantity, and other models into business operations. It is widely utilized by end-users in the banking, financial services, and insurance (BFSI), manufacturing, and service sectors, facilitating the efficient acquisition of trade orders. By incorporating ERP software, organizations can achieve substantial profits in a shorter timeframe compared to traditional software solutions.
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The solutions segment experienced a steady increase in market share, reaching USD 12.07 billion in 2018. This segment can be tailored to meet specific speed and automation requirements while maintaining reliability and cost efficiency. Additionally, it provides built-in guidance for installation and customization, facilitating easier implementation. As digitalization continues to grow, this segment of the cloud ERP market is expected to expand further during the forecast period.
The BFSI sector is increasingly embracing cloud ERP to enhance financial planning and budgeting processes in alignment with organizational strategies. This technology facilitates funds transfer pricing and improves the accuracy of profitability assessments. Banking institutions are driving demand for cloud ERP to support various banking functions, including IT asset management, maintenance of balance sheets, profit and loss tracking, asset and capital management, market liquidity, and credit quality oversight. It enables effective planning and analysis of profitability, ensures compliance with relevant regulations, and aids in the planning, budgeting, and forecasting of business strategies. Consequently, these factors are expected to propel the growth of the cloud enterprise resource planning market in this segment during the forecast period.
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North America is projected to account for 44% of the global market growth during the forecast period. Analysts at Technavio have provided an in-depth analysis of the regional trends and factors influencing the market. In North America, the United States and Canada represent the largest markets, generating significant revenue for the cloud enterprise resource planning (ERP) sector. Many enterprises, particularly small and medium-sized enterprises (SMEs), are increasingly adopting ERP solutions, often integrating them with advanced technologies such as blockchain, artificial intelligence, and Internet of Things (IoT) applications, as well as data analytics.
In response to this rising demand, several companies are offering built-in application programming interfaces (APIs) to facilitate product upgrades and maintenance. The growing emphasis on digitization, along with a heightened focus on business efficiency and transparency, is also driving growth in the regional cloud ERP market. These systems provide a unified platform that consolidates data from various databases across departments, which minimizes data duplication and decreases data retrieval times. These factors are likely to contribute positively to the growth of the cloud ERP market throughout the forecast period.
The cloud ERP market is driven by growing demand for improved customer relationship management, supported by the integration of e-commerce platforms and advanced analytics tools like Data Bridge. The use of biometric technology enhances authentication and security, particularly within consumer electronics and aerospace and defense sectors. Despite ongoing challenges such as rising cyber threats and complex trade regulations, organizations are increasingly shifting to cloud-based platforms. This transition enables businesses of all sizes to make informed strategic decisions based on expert insights, ensuring compliance while optimizing revenue through careful investment.
The rising demand for process automation and digital transformation is driving market growth, enabling companies to digitize core business operations and reduce the need for manual intervention in complex, repetitive tasks. This leads to enhanced operational efficiency, personalized customer experiences, and reductions in time-to-market, errors, and costs. As a result, industries such as BFSI, retail, and manufacturing are adopting BPMaaS solutions to streamline internal and external processes, increasing market demand.
The benefits of BPMaaS are further amplified when combined with technologies like BPM, RPA, and AI, commonly referred to as intelligent automation. This approach enables real-time, data-driven decision-making through AI and analytics, improving flexibility throughout the process. As a result, more companies are offering BPM services integrated with AI and RPA. These factors are expected to drive cloud ERP market growth during the forecast period.
The growing adoption of remote work models is a significant trend in the market. With this shift, the need for cloud-based collaboration and sharing software has become increasingly vital to ensure effective enterprise-wide data transfer, business management, and communication. The implementation of CRM, ERP, and SCM systems has enabled companies to maintain seamless communication and connectivity with remote employees.
Moreover, the cloud enterprise resource planning (ERP) market is expected to see further growth, driven by its rising popularity among small and medium-sized businesses and startups adopting remote work practices. Even after the COVID-19 lockdown, many companies have transitioned to hybrid business models, which is expected to contribute to the growth of the cloud ERP market during the forecast period.
The growing frequency of cyberattacks targeting cloud ERP software is hindering market growth. Cybercriminals who breach ERP platforms gain access to sensitive and business-critical data, which can disrupt a company's operations and impact overall efficiency. Without proper IT security measures, businesses are susceptible to attacks such as distributed denial-of-service (DDoS).
As companies increasingly transition to digital operations, data is being exchanged across multiple locations and with external entities. This shift heightens system vulnerabilities, creating opportunities for cyberattacks that exploit security gaps to access sensitive information. Consequently, the rise in cyberattacks presents a significant challenge to cloud ERP market growth during the forecast period.
The cloud ERP market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the cloud enterprise resource planning market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acumatica Inc. - The company offers cloud ERP solutions such as the Acumatica Cloud xRP platform.
Epicor Software Corp. - The company offers cloud ERP solutions for offsite management.
Oracle Corp. - The company offers cloud ERP solutions such as Fusion for Dummies and finance and operations.
The cloud ERP market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The cloud enterprise resource planning (ERP) market is experiencing significant growth, driven by advancements in biometric authentication and AI-based biometric solutions that serve identification needs across sectors like public administration, finance, insurance, and construction. Technologies such as machine learning and artificial intelligence are enhancing ERP systems, delivering scalability and operational efficiency for businesses of all sizes. Integration with Google Cloud supports big data analytics and ensures seamless access across public, private, and hybrid cloud environments, enabling system integrators to optimize sales and improve enterprise performance. As consumer demands shift, ERP solutions tailored for industries such as healthcare, IT, and telecom are leveraging human capital and strategic partnerships to offer innovative cloud-based solutions that shape the future of enterprise management.
Businesses increasingly adopt cloud ERP platforms to streamline operations and strengthen customer relationships. E-commerce platforms benefit from these solutions to refine sales strategies, backed by analytics that boost operational efficiency and inform strategic decision-making. In sectors like consumer electronics and aerospace and defense, cloud ERP systems optimize manufacturing processes, ensuring broad geographical coverage and facilitating global expansion. The integration of biometric technology within cloud ERP systems enhances security, addressing cybersecurity threats and enabling advanced encryption. Expert tools, including PESTLE analysis, help organizations navigate trade regulations and make informed strategic decisions. Cloud ERP also supports companies in optimizing manufacturing processes to meet the distinct needs of varying organization sizes.
As businesses increasingly adopt cloud-based platforms, they gain the ability to strengthen customer relationships and streamline manufacturing processes. These platforms help companies meet trade regulation requirements, enabling broader geographical expansion. The integration of biometric technology enhances safety and security, making cloud ERP an essential tool for industries like consumer electronics, aerospace, and defense. With advanced analytics and expert insights, businesses can optimize operations, safeguard against cyber threats, and make informed strategic decisions.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.53% |
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Market growth 2024-2028 |
USD 19.98 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.45 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 44% |
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Key countries |
US, Canada, Germany, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acumatica Inc., Certinia Inc., Dassault Systemes SE, Deacom Inc., ECI Software Solutions Inc., Epicor Software Corp., Infor Inc., Microsoft Corp., Oracle Corp., Productoo, QAD Inc., Ramco Systems Ltd., Rockwell Automation Inc., Rootstock Software, Sage Group Plc, SAP SE, SYSPRO Pty. Ltd., Unit4 Group Holding B.V., Workday Inc., and Xledger |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our cloud enterprise resource planning market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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