Cloud-based Enterprise Resource Planning (ERP) software enables businesses to centralize and automate core processes like finance, supply chain, services, procurement, and HR using a hosted platform in the cloud. Cloud ERP solutions, in contrast to traditional on-premises ERP systems, are stored on third-party servers and accessed through the Internet, offering flexibility, scalability, and lower IT expenses.
In recent years, substantial growth in the global Cloud ERP market has been fueled by the growing use of cloud technologies, the surge in remote work, and the demand for digital transformation in various industries. Organizations, regardless of size, are shifting to cloud ERP systems for enhanced operational efficiency, instant data access, and cost savings. Various market research reports suggest that there will be a 10% to 15% compound annual growth rate (CAGR) for the cloud ERP market in the next five years.
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Top Key Players Covered in The Cloud ERP Market:
§ Oracle (US)
§ Microsoft (US)
§ SAP (Germany)
§ Workday (US)
§ Infor (US)
§ IFS (Sweden)
§ Plex Systems (US)
§ Epicor Software Corporation (US)
§ Sage Group (UK)
§ Aware, Inc. (U.S.)
§ Gemalto Cogent, Inc. (U.S.)
§ BIO-key International, Inc. (U.S.)
§ (U.S.)
§ Fulcrum Biometrics, LLC. (U.S.)
§ Daon (Ireland)
§ Facebanx (U.S.)
§ HID Global Corporation/ASSA ABLOY AB. (U.S.)
§ IRITECH, INC. (U.S.)
§ M2SYS Technology (U.S.)
§ Precise Biometrics AB (Sweden)
§ Secunet Security Networks AG. (Germany)
§ Thales Group (France)
§ Cognitec Systems GmbH (Germany)
§ Safran (France)
§ (South Korea)
§ Ramco Systems (India)
§ NEC Technologies India Private Limited (India)
§ FUJITSU (Japan) and other Active Players.
Akvis Intelligence Market Research delivers all-inclusive market research studies that provide valuable insights and strategic direction to businesses worldwide. Our reports draw data from various solid primary and secondary sources. We develop the comprehensiveness of our estimations by exploiting industry-standard tools like Porter's Five Forces Analysis, SWOT Analysis, and Price Trend Analysis.
The Cloud ERP Market Trend Analysis:
§ Shift from On-premise to Cloud Solutions: Many companies are transitioning from legacy on-premise ERP systems to cloud-based solutions due to flexibility, lower upfront costs, and easier scalability. On-premise ERP systems often require significant capital investments in hardware and software, while cloud ERP solutions operate on a subscription-based pricing model, making them more accessible for small to medium-sized businesses (SMBs).
§ Adoption by Small and Medium-sized Enterprises (SMEs): Cloud ERP is gaining traction among SMEs as it offers a more cost-effective and scalable solution compared to traditional ERP systems. SMEs are increasingly recognizing the importance of integrating core business functions in a single, accessible platform without the need for extensive IT infrastructure.
Market Dynamics:
§ Digital Transformation: As businesses seek to modernize their operations, the demand for cloud-based ERP systems continues to rise. Cloud ERP solutions support automation, improve data accuracy, and provide real-time insights, all of which are essential for digital transformation efforts.
§ Cost Efficiency: Cloud ERP solutions eliminate the need for costly IT infrastructure and on-premise hardware, reducing capital expenditure. Moreover, subscription-based models make ERP systems more affordable for smaller businesses.
Market Opportunity:
§ Growing Demand in Emerging Markets: The rapid growth of cloud computing infrastructure in emerging economies presents a significant opportunity for cloud ERP vendors. As businesses in these regions seek to modernize their operations, they are increasingly turning to cloud-based solutions to reduce costs and improve efficiency.
§ Hybrid ERP Models: For organizations that are not ready to fully transition to the cloud, hybrid ERP solutions offer a combination of on-premise and cloud-based functionalities. This model allows businesses to gradually migrate to the cloud while still retaining control over certain critical processes.
The Cloud ERP Market is Segmented as follows:
By Deployment
§ Public Cloud
§ Private Cloud
§ Hybrid Cloud
By Function
§ Financial & Account Management
§ Order & Procurement Management
§ Human Capital Management
§ Enterprises Performance Management
§ Others
By Organization Type
§ SMBs
§ Enterprises
By Industry
§ Distribution
§ Manufacturing
§ Construction
§ Healthcare
§ E-Commerce & Retail
§ BFSI
§ IT & Telecom
§ Others
By Region
§ North America (U.S., Canada, Mexico)
§ Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
§ Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
§ Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
§ Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
§ South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
§ In October 2023, Acumatica made advancements in its cloud-based ERP product, Acumatica 2023 R2. The additions include Acumatica Payments, access to Amazon’s Seller Central marketplace, integration of Shopify’s online sales with Acumatica’s back-end fulfillment processes, and many others.
§ In October 2023, Infor partnered with AWS to develop a cloud-based ERP software to help manufacturing and logistics industries transform digitally. The combined capabilities enabled organizations to tackle supply chain issues and fierce competition.
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Within our study, we study the complete ecosystem of the Assisted Living Software Market, explaining various market stakeholders, their functions, and interdependencies. Additionally, our comprehensive segmentation analysis and geographical coverage provide profound insights into regional trends. We also analyze externally affecting factors.
Key Findings of the Study:
§ The Cloud ERP market is projected to grow from USD 72.1 billion in 2023 to USD 209.79 billion by 2032, at a CAGR of 12.6%.
§ Leading companies in the market include Oracle Corporation, Infor, Microsoft Corporation, and Acumatica, providing robust solutions for various industries.
§ Small and medium-sized enterprises (SMEs) are increasingly adopting cloud-based ERP systems for their efficiency, cost savings, and enhanced communication and teamwork.
§ Government digitalization efforts are boosting the adoption of cloud-based ERP solutions, improving efficiency, transparency, and services to citizens.
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