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The cloud erp market size is valued to increase by USD 19.98 billion, at a CAGR of 11.53% from 2023 to 2028. Growing focus on digital transformation in business organizations will drive the cloud erp market.
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In today's business landscape, Enterprise Resource Planning (ERP) systems in the cloud have become a cornerstone for organizations seeking to streamline operations, enhance data accessibility, and ensure compliance. Compared to traditional on-premises ERP solutions, cloud ERP systems offer a 30% reduction in IT infrastructure costs and a 25% faster implementation timeframe. Furthermore, cloud ERP systems enable real-time data access, resulting in a 20% improvement in business decision-making efficiency. Key features of cloud ERP include human capital management, inventory management systems, data warehousing, disaster recovery planning, role-based permissions, database management, process optimization, security compliance, software deployment, business continuity planning, project management tools, real-time dashboards, API integrations, data governance frameworks, customer relationship management, and user interface design. These capabilities provide organizations with multi-tenancy architecture, data migration strategies, service level agreements, workflow automation, reporting and analytics, access controls, system integration, data analytics tools, performance monitoring tools, financial management modules, capacity planning, application lifecycle management, data security protocols, supply chain management, change management processes, business process automation, and scalable systems. Cloud ERP systems offer significant advantages over traditional ERP solutions, including cost savings, increased efficiency, and improved compliance. Organizations can reap the benefits of these advanced capabilities while focusing on their core business functions.
The increasing prioritization of digital transformation within business entities serves as the primary catalyst for market growth.
Advanced technologies are increasingly being integrated into ERP solutions, reflecting a current market trend.
The escalating frequency of cyberattacks targeting cloud Enterprise Resource Planning (ERP) software poses a significant challenge to the industry's growth trajectory. This trend necessitates heightened security measures and continuous vigilance to mitigate potential risks and safeguard sensitive business data.
The cloud erp industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The solutions segment is estimated to witness significant growth during the forecast period.
Cloud Enterprise Resource Planning (ERP) markets witness continuous evolution, with solutions increasingly relying on cloud infrastructure for integration of human capital management, inventory management systems, data warehousing, disaster recovery planning, role-based permissions, database management, process optimization, security compliance, software deployment, business continuity planning, project management tools, real-time dashboards, API integrations, IT infrastructure, data governance frameworks, customer relationship management, user interface design, and financial management modules. A notable statistic: Cloud ERP adoption can lead to a 20% increase in business process efficiency.
This market caters to various industries, including BFSI, manufacturing, and services, offering scalable systems with multi-tenancy architecture, data migration strategies, service level agreements, workflow automation, reporting and analytics, access controls, system integration, data analytics tools, performance monitoring tools, capacity planning, application lifecycle management, data security protocols, supply chain management, change management processes, business process automation, and financial management modules.
The Solutions segment was valued at USD 12.07 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 44% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American cloud Enterprise Resource Planning (ERP) market is witnessing significant growth, with the United States and Canada being the major contributors. Early adoption of cloud ERP solutions by enterprises in this region is driving market expansion. However, the market's future growth will not only be fueled by the integration of advanced technologies like blockchain, Artificial Intelligence (AI), Internet of Things (IoT), and data analytics, but also by the need for business process efficiency and transparency through digital transformation. companies offering in-built APIs for these advanced technologies stand to gain additional revenues through product upgrades and maintenance fees.
According to recent studies, the North American the market is expected to grow at a robust pace, with an estimated 30% of Fortune 500 companies planning to migrate to cloud ERP by 2023. Additionally, a report suggests that businesses using cloud ERP have seen an average operational efficiency gain of 25%, underscoring the significant impact of these solutions on business productivity.
Customer Landscape of Cloud ERP Industry
Companies are implementing various strategies, such as strategic alliances, cloud erp market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Acumatica Inc. - The company specializes in cloud Enterprise Resource Planning (ERP) solutions, including the Acumatica Cloud xRP platform, providing businesses with innovative technology for streamlined operations and enhanced productivity.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 industry 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.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Cloud ERP Market insights. See full methodology.
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Market 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 19978.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.45 |
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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 |
"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."
The cloud Enterprise Resource Planning (ERP) market continues to gain traction as businesses seek to streamline operations, enhance data analytics, and improve integration with Customer Relationship Management (CRM) systems. Cloud ERP solutions offer numerous benefits, including automating financial processes, optimizing business processes, and managing data security more effectively than traditional on-premises systems. One significant advantage of cloud ERP is its ability to seamlessly integrate with CRM systems, enabling a single view of customer data and improving operational efficiency. In the supply chain sector, cloud ERP adoption has grown by over 20% in the last year, allowing businesses to better manage inventory, automate order processing, and improve demand forecasting. Data security is a top concern for businesses, and cloud ERP companies have responded with robust security features. Cloud ERP systems offer advanced encryption, multi-factor authentication, and access controls, making it easier for businesses to manage data security and ensure compliance with regulations. Financial processes can also be automated through cloud ERP, reducing manual errors and improving operational efficiency. For instance, cloud ERP can automate invoice processing, streamline accounts payable and receivable, and provide real-time financial reporting. Cloud ERP also offers advanced data analytics capabilities, enabling businesses to measure Key Performance Indicators (KPIs) through customizable dashboards. Human resources functions can be streamlined through cloud ERP, with features such as self-service portals, automated workflows, and customizable reporting. Project management is another area where cloud ERP shines, offering features such as real-time project tracking, automated workflows, and customizable reporting. Agile methodologies can be used to deploy cloud ERP, ensuring a flexible and iterative approach to implementation. Scaling cloud ERP infrastructure for growth is also a significant advantage, with cloud companies offering elastic resources that can be easily scaled up or down as business needs change. Migrating data to a cloud ERP platform can be a complex process, but companies offer tools and services to simplify the process and minimize downtime. Monitoring cloud ERP performance metrics is essential for ensuring optimal system performance and user experience. Cloud ERP companies offer real-time performance monitoring and reporting, enabling businesses to quickly identify and address any issues. Managing user access and permissions in cloud ERP is also critical for maintaining data security and ensuring compliance. Custom API integrations and configurable workflows enable businesses to extend the functionality of cloud ERP systems, while custom reporting capabilities offer insights into business operations that were previously unavailable. Data governance is a crucial aspect of cloud ERP implementation, ensuring data accuracy, security, and compliance with regulations. Finally, planning for disaster recovery in cloud ERP is essential, with companies offering robust disaster recovery solutions to minimize downtime and data loss.
What is the expected growth of the Cloud ERP Market between 2024 and 2028?
USD 19.98 billion, at a CAGR of 11.53%
What segmentation does the market report cover?
The report is segmented by Component (Solutions and Services), End-user (BFSI, Manufacturing and services, Government, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
Which regions are analyzed in the report?
North America, Europe, APAC, Middle East and Africa, and South America
What are the key growth drivers and market challenges?
Growing focus on digital transformation in business organizations, Increasing number of cyberattacks on cloud ERP software
Who are the major players in the Cloud ERP Market?
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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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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