Fort Collins, Colorado, Oct. 02, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Cloud ERP Market Size, Growth, Share, Statistics Report, By Enterprise Type (Small & Medium Enterprises, Large Enterprises), By Deployment (Cloud, On-Premise, Hybrid, Smart Home Control), By Business Function, By End-user, By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The cloud ERP market size was valued at USD 66.2 Billion in 2022 and is expected to reach USD 274.1 Billion by 2032 and is expected to have a CAGR of 15.4%. The global report on the cloud ERP market comprehensively analyzes the latest trends and market conditions. It also covers the latest insights from the industry and delves into market opportunities. The market is growing because more companies are using SaaS solutions. These solutions are effective because they use cloud computing. Many companies also use the cloud to save money and increase security. Another trend is the need for advanced ERP solutions to identify problems like delays and disruptions. Analytics can help with this. Artificial intelligence and machine learning are also used to develop cloud-based enterprise resource planning solutions, fueling market growth.
Cloud ERP software is a reliable and secure solution that operates on a remote server and can be accessed easily through the Internet. This software type allows businesses to use considerable computing power without needing on-premises installation. Switching to a cloud-based ERP system can lead to cost savings, faster deployment, and reduced dependence on human and physical resources. Another significant benefit of using high-quality cloud ERP software is the ability to recover from disasters. This involves a set of protocols, tools, and techniques the vendor uses to restore your data and systems in case of any significant interruption.
The construction industry can greatly benefit from using Cloud ERP solutions. One of the key advantages is the ability to manage project costs effectively by integrating financial data with project operations. This results in real-time tracking of resource usage, budget allocations, and expenses, leading to positive business growth. In collaboration with NCC, IFS Cloud replaced Infor Lawson ERP and IBM Maximo EAM solutions, significantly improving business visibility and streamlined accounting procedures.
With the rise of cyberattacks, cloud ERP providers have been increasingly focused on enhancing their security measures. It is essential to have advanced cybersecurity frameworks in place to ensure that sensitive information entrusted to the cloud is kept safe, compliant, and resilient. To identify vulnerabilities in the system, many cloud ERP providers conduct security audits and penetration tests regularly. This proactive approach enables them to identify and address potential issues before intruders can exploit them. Cloud ERP providers must also adopt robust encryption techniques to protect data security during server storage and transfer between users and the cloud. By implementing these measures, cloud ERP providers can offer their clients the peace of mind that their valuable data is always secure.
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Report Snapshot:
| Report Title | Cloud ERP Market |
| Market Size in 2022 | USD 66.2 Billion |
| Market Size by 2032 | USD 274.1 Billion |
| CAGR from 2023 to 2032 | 15.4% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Enterprise Type | Small & Medium Enterprises, Large Enterprises |
| By Business Function | Financial Management, Human Capital Management, Supply Chain Management, Customer Management |
| By End-user | Manufacturing, BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare & Lifesciences, Transportation, Government & Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Oracle (U.S.), Microsoft (U.S.), SAP (Germany), IFS (Sweden), Infor. (U.S.), Sage Group (U.K.), Workday, Inc. (U.S.), Plex (U.S.), Ramco Systems. (India), Epicor Human Capital Management Corporation (U.S.), SYSPRO (South Africa), Tally Solutions Private Limited (India), Odoo (U.S.), Tyler Technologies (U.S.), MIE Solutions (U.S.), Genius Solution, Inc. (U.S.), Deltek, Inc. (U.S.), QAD Inc. (U.S.), VIENNA Advantage (Germany), Acumatica, Inc. (U.S.) |
Segmentation Overview:
The market for cloud ERP can be segmented based on enterprise type, deployment, business functions, and end-users.
Cloud ERP is most popular with large enterprises. They must manage complex processes like inventory, production planning, and shipping. Large enterprises have more money to spend, driving the market's growth. Medium enterprises are also seeing growth. The software can reduce manual work and speed up the process.
The on-premise segment holds the largest market share, while the market for cloud ERP is growing due to advancements in supply chain businesses and their operations. Cloud ERP offers benefits such as faster implementation and reduced overhead costs. Additionally, it can be managed and accessed from anywhere in the world. The cloud segment provides integrated data for real-time information that businesses can use to improve their production and manufacturing processes.
North America mainly dominates the market for cloud ERP due to its high investment in technology research and development. This investment promotes the adoption of cloud security solutions, making it the leading region in the market. Additionally, mid-size organizations are significant users of cloud ERP solutions, as they have a large capacity for digital resources.
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Key Developments in the Cloud ERP Market:
- Epicor's content management and business process automation platform, Epicor ECM (DocStar), has been ranked in the "Leader" quadrant of Nucleus Research's annual Content Services and Collaboration Technology Value Matrix for the fourth year.
- Deltek, a prominent worldwide supplier of software and solutions tailored to project-based businesses, recently disclosed its extended collaboration with Deltek ComputerEase through the Procore platform. This development is a significant achievement for Deltek, showcasing their involvement in the prestigious Procore App Marketplace.
Cloud ERP Market Report Highlights:
- The cloud ERP market size is expected to reach USD 274.1 Billion with a CAGR of 15.4 by 2032. The global market is growing due to the increased use of SaaS solutions that utilize cloud computing. Businesses also adopt cloud-based ERP solutions powered by AI and machine learning for efficient project management and reduced costs. Cloud ERP software is secure, provides disaster recovery protocols, and undergoes regular security audits to ensure data safety.
- Cloud ERP is popular with large enterprises for managing complex inventory and production planning processes. The market is growing due to advancements in supply chain businesses and their operations. Cloud ERP offers faster implementation, reduced overhead costs, and real-time information for improving production and manufacturing processes.
- North America leads in cloud ERP due to high investment in research and development, promoting the adoption of cloud security solutions. Mid-size organizations are major users due to ample digital resources.
- Some of the prominent market players in the cloud ERP market are Oracle, Microsoft, SAP, IFS, Infor, Sage Group, Workday, Inc., Plex, Ramco Systems, Epicor Human Capital Management Corporation, SYSPRO, Tally Solutions Private Limited, Odoo, Tyler Technologies, MIE Solutions, Genius Solution, Inc., Deltek Inc., QAD Inc., and VIENNA Advantage Acumatica, Inc.
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Cloud ERP Market Report Segmentation:
Cloud ERP Market, By Enterprise Type (2023-2032)
- Small & Medium Enterprises
- Large Enterprises
Cloud ERP Market, By Business Function (2023-2032)
- Financial Management
- Human Capital Management
- Supply Chain Management
- Customer Management
Cloud ERP Market, By End-user (2023-2032)
- Manufacturing
- BFSI
- IT & Telecom
- Retail & Consumer Goods
- Healthcare & Lifesciences
- Transportation
- Government
- Others
Cloud ERP Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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