Vancouver, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The global cloud ERP market size reached USD 44.83 Billion in 2020 and is expected to register a CAGR of 15.6% during the forecast period, according to latest analysis by Emergen Research. Global cloud ERP market revenue growth is driven by increasing demand for solutions for data-driven business decisions and rising demand for efficient, paper-free accounting, and order management solutions. Rising adoption of cloud ERP in BFSI sector for finance and operation applications is expected to further boost growth of the global cloud ERP market during the forecast period.
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However, integration issues of cloud ERP solutions with on-premises based systems is expected to hamper global cloud ERP market growth to some extent during the forecast period.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 44.83 Billion |
| CAGR (2022–2032) | 15.6% |
| Revenue forecast in 2032 | USD 253.01 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Deployment, Organization Size, Application, End-use, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Microsoft Corporation, Oracle Corporation, SAP SE, Sage Group plc, Workday, Inc., QAD Inc., Genius Solutions, Inc., OpenPro, Inc., Acumatica, Inc., Ramco Systems Limited |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global cloud ERP market is fairly fragmented, with a large number of large and medium-sized market players accounting for a major revenue share. Key players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, adopting more advanced technologies in cloud ERP solutions, developing, testing, and introducing new and more efficient solutions in the market. Some prominent players operating in the cloud ERP market are:
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Sage Group plc
- Workday, Inc.
- QAD Inc.
- Genius Solutions, Inc.
- OpenPro, Inc.
- Acumatica, Inc.
- Ramco Systems Limited
Strategic Development
- In February 2020, JAAS Systems LTD was acquired by Acumatica, Inc. Through this acquisition, Acumatica will strengthen its capabilities to offer advanced manufacturing features for project-based ERP and ETO ERP. The acquisition will help Acumatica to expand its business in the manufacturing industry.
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Some Key Highlights From the Report
- Rising adoption of hybrid cloud-based cloud ERP solutions by end-users to get better data security and flexibility is driving revenue growth of the hybrid cloud segment, which is expected to register a significantly rapid CAGR over the forecast period.
- Small and medium-sized enterprise segment is expected to register significant revenue growth over the forecast period due to increasing adoption of cloud ERP among SMEs to gain access to a wide range of applications.
- The finance segment is expected to register significant growth in terms of market share during the forecast period due to increasing adoption of cloud ERP in the BFSI industry for managing ledger, payables, and customer invoices seamlessly.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to rising implementation of cloud ERP solutions across various industries in countries in the region.
- In September 2020, Acumatica, Inc. announced a substantial rise in investment and focus on its business management solution in the United Kingdom, which is expected to boost Acumatica’s expansion in the United Kingdom.
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Emergen Research has segmented the global cloud ERP market on the basis of deployment, organization size, application, end-use, and region:
- Deployment Outlook (Revenue, USD Billion; 2019–2032)
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Organization Size Outlook (Revenue, USD Billion; 2019–2032)
- Small and Medium-sized Enterprises
- Large Enterprises
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Finance
- Operations
- Sales & Marketing
- Others
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Manufacturing
- Healthcare
- IT and Telecom
- Retail
- Transportation and Logistics
- Government
- Media & Entertainment
- BFSI
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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