Cloud ERP Market:
Growth opportunities in the cloud ERP market look promising over the next six years. This is mainly due to the growing demand for cloud-based solutions for improving operational efficiency and business processes, including sales and marketing, accessibility from permissible mobile devices, increasing digitization, and adoption of IoT.
Cloud ERP Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The crucial drivers augmenting the growth of the cloud ERP market include rapid digitalization and acquisition of IoT, mobile devices, and cloud computing environment, the growing emergence of big data and data analytics, and surging demand for cloud-based solutions to improve the operational efficiency and business processes like marketing and sales, supply chain and procurement, accounting and financial information across enterprises. Also, several advantages offered by cloud ERP which include the availability of real-time data, flexible implementation, protection of business data stored on its servers, accessibility from permissible mobile devices, such as laptops, cell phones, and tablets, reduction in the upfront cost of purchasing and installing hardware and software, and scalability in terms of data storage capacity will further stimulate the cloud ERP market growth.
Also, the surging trend of services like BYOD (bring your own device) and work from home will increase the shift of workload to cloud environment for better resource utilization, decreasing IT capital expenses, and availability of on-premise data, thereby strengthening the cloud ERP market share. In accordance with BSA, the Software Alliance, along with a member of the International Intellectual Property Alliance, the cloud computing demand is predicted to represent 60 percent of growth by 2020. This is likely to pave the way for market growth.
However, the huge cost associated with the cloud-based ERP system compared to an on-premise ERP system will curb the market share. Moreover, fewer customization capabilities than on-premises infrastructure and expanding concerns related to data theft and data loss may constrain market growth.
Regional Drivers
Based on regional coverage, North America is projected to witness a higher CAGR over the forecast period. This is primarily because of the rapid economic development, the presence of enterprises with enhanced IT infrastructure, and the rising adoption of cloud and mobile technologies across banking, healthcare, manufacturing, and IT sectors. Moreover, a wide range of cloud ERP providers, including Microsoft Corporation, Oracle Corporation, Koch Industries, Inc., International Business Machines Corporation, will promote market growth.
Cloud ERP Market’s leading Manufacturers:
- Acumatica, Inc.
- Ramco Systems Limited
- Sage Group Plc
- SAP SE
- International Business Machines Corporation
- Epicor Software Corporation
- Plex Systems
- Koch Industries, Inc.
- Microsoft Corporation
- Oracle Corporation
Cloud ERP Market’s 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:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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