Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Cloud ERP Market by Component (Solution, Services), Business Function (Accounting and Finance, Sales and Marketing, Inventory and Order Management), Organization Size, Vertical (BFSI, Manufacturing, IT and Telecom) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The author forecasts the global Cloud ERP market to grow from USD 64.7 billion in 2022 to USD 130.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.0% during the forecast period.
Services segment to grow at a higher CAGR during the forecast period
Services are integral to the software life cycle, including deployment, integration, product upgradation, maintenance, training, and consulting. Services are categorized into managed services and professional services. Managed services are valued based on their use and are provided by third-party vendors. The cost implied while using managed services is limited to the time and amount of their use.
Professional services are obtained directly from parent companies. These services can be provided as advisory, implementation and integration, and support and maintenance. The demand for advisory services would increase as technology-based software solutions are expected to increase. Support services include assistance provided during installation and maintenance activities.
Manufacturing segment to record the second highest CAGR during the forecast period
Manufacturing cloud ERP software(s) integrates manufacturing, inventory management, and accounting to help businesses ensure raw materials are available for production, manage the manufacturing process, maintain revisions, and track financials. Integrated ERP for manufacturing helps streamline business processes, generates accurate pricing, and calculates total manufacturing costs.
Manufacturing companies have been moving their traditional ERP systems to the cloud as they realize their core competency is manufacturing, not managing software and hardware. Cloud ERP offerings from various prominent vendors are more secure and reliable than most in-house solutions and have become a distinct advantage for enterprises. For instance, Acumatica ERP software for the manufacturing industry integrates with financial and CRM modules to effectively support all major business areas, helping flexible business processes to plan and control manufacturing operations.
Europe to record for significant market size during the forecast period
The established internet and robust economic infrastructure with business demand for cloud services market. Europe's one of the top 3 markets for cloud-based services and the second largest market in the overall Cloud ERP market. The major countries considered in this report for analysis are the UK, Germany, and others. The UK and Germany are the countries with the highest potential for the Cloud ERP market among all other countries.
Business demands in the European market are diverse, reasonably like North America. Enterprises in this region have strong technical expertise along with bigger IT budgets. The increasing digitalization and the growing focus of organizations on IT problems and streamlining IT processes and services with business objectives are projected to drive the demand for cloud applications in the region. The UK and Germany have the highest growth potential in the cloud ERP market among all the other countries in the region.
Due to the rise in European government initiatives, cloud ERP vendors are employing several security and access protocols to maintain service quality. Major players, such as Microsoft, Oracle, IBM, and OVH, have established their data centers in European regions to cater to customers' growing demands and increase the customer base. The region is an early adopter of cloud technology due to the strong technical expertise and better IT budget of enterprises.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Cloud ERP Market
4.2 Market, by Deployment Model, 2022
4.3 Market, by Application, 2022 Vs. 2027
4.4 Market, by Organization Size, 2022
4.5 Market, by Vertical, 2022 Vs. 2027
4.6 Market: Regional Scenario, 2022-2027
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Implementation of ERP Systems to Perform Core Business Operations
5.2.1.2 Surge in Adoption of Cloud ERP Solutions Across Verticals
5.2.1.3 Increasing Cloud Spending Driving Demand for Cloud-Based Applications
5.2.1.4 Unified Enterprise-Wide Integration Approach
5.2.1.5 Need for Disaster Recovery and Backup Services Amid COVID-19 Pandemic
5.2.2 Restraints
5.2.2.1 Limited Customization Options Available for Saas ERP Solutions
5.2.2.2 Dependency on Wireless Routers Creates Network Barrier
5.2.3 Opportunities
5.2.3.1 Advent of Big Data and Analytics in Cloud ERP Solutions
5.2.3.2 Increasing Government Investment in Digitalization
5.2.4 Challenges
5.2.4.1 Integration Issue with Legacy and On-Premises ERP Systems
5.2.4.2 Security Concerns in Adopting Cloud ERP Solutions
5.3 Case Study Analysis
5.3.1 Case Study 1: Sap Customer Experience Assisted Topcon Global Ecosystem Rejuvenate
5.3.2 Case Study 2: Enhanced Transaction Processing Through Integration of Ml and Automation in Dropbox's ERP Solution
5.3.3 Case Study 3: Robust and Flexible ERP System Sought Due to Company/Business Expansion
5.3.4 Case Study 4: Integrating Epm and Crm in Logistics and Supply Chain
5.3.5 Case Study 5: Deployment of Interconnected Cloud-Based ERP Platform
5.3.6 Case Study 6: Optimizing Processes in Manufacturing
5.4 Technology Analysis
5.5 Patent Analysis
5.6 Value Chain Analysis
5.7 Ecosystem
5.8 Porter's Five Forces Analysis
5.9 Key Stakeholders and Buying Criteria
5.10 Key Conferences and Events in 2022-2023
5.11 Pricing Analysis
5.12 Trends/Disruptions Impacting Buyers
5.13 Regulatory Landscape
6 Cloud ERP Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.2 Solution
6.2.1 Solution: Market Drivers
6.3 Services
6.3.1 Services: Market Drivers
6.3.2 Professional Services
6.3.2.1 Integration and Implementation
6.3.2.2 Consulting
6.3.2.3 Support and Maintenance
6.3.3 Managed Services
7 Cloud ERP Market, by Business Function
7.1 Introduction
7.1.1 Business Function: Market Drivers
7.2 Finance and Accounting
7.3 Sales and Marketing
7.4 Inventory and Order Management
8 Cloud ERP Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Cloud ERP Market, by Vertical
9.1 Introduction
9.1.1 Vertical: Market Drivers
9.2 Bfsi
9.3 It and Telecom
9.4 Healthcare
9.5 Manufacturing
9.6 Government and Public Sector
9.7 Aerospace and Defense
9.8 Retail
9.9 Education
9.10 Other Verticals
10 Cloud ERP Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Market Share of Top Players
11.4 Revenue Analysis of Top Players
11.5 Company Evaluation Quadrant
11.5.1 Matrix Definitions and Methodology
11.5.2 Stars
11.5.3 Pervasive Players
11.5.4 Emerging Leaders
11.5.5 Participants
11.6 Startup/Sme Evaluation Quadrant
11.6.1 Definitions and Methodology
11.6.2 Progressive Companies
11.6.3 Responsive Companies
11.6.4 Dynamic Companies
11.6.5 Starting Blocks
11.7 Competitive Benchmarking
11.8 Competitive Scenario
11.8.1 Product Launches and Enhancements
11.8.2 Acquisitions
12 Company Profiles
12.1 Introduction
12.2 Key Companies
12.2.1 Oracle
12.2.2 Microsoft
12.2.3 Sap
12.2.4 Ifs
12.2.5 Infor
12.2.6 Sage Software
12.2.7 Workday
12.2.8 Plex Systems
12.2.9 Ramco Systems
12.2.10 Epicor
12.3 Other Companies
12.3.1 Tally
12.3.2 Odoo
12.3.3 Syspro
12.3.4 Tyler Technologies
12.3.5 Mie Solutions
12.3.6 Acumatica
12.3.7 Genius Solutions
12.3.8 Brightpearl
12.3.9 Deltek
12.3.10 Qad Inc.
12.3.11 Vienna Advantage
12.3.12 Openpro
12.3.13 Delmiaworks
12.3.14 3I Infotech
12.3.15 Global Shop Solutions
12.3.16 Rootstock Software
12.3.17 Eci Software Solutions
12.3.18 Unit4
13 Adjacent and Related Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/3s0t9t
Attachment
