Cloud ERP Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Cloud ERP Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : January, 2022 | Technology & Media

Report Digest


Global Cloud ERP Market : Snapshot

Cloud ERP or cloud enterprise resource planning refers to using cloud computing platforms and services for making business operations better and smoother. The introduction of these services has led to process transformation for several organizations and companies. Known as one of the leading technologies of the modern world, cloud computing entails usage of internet for storing records, documents, tools, and shared computing records. Adoption of this technology has allowed companies to host their complete computing infrastructure on virtual platforms through remote data centers. Today, cloud ERP is used for managing human capital, finance, and several other important aspects of a business.

In the coming years, analysts visualize that intelligent usage of cloud ERP application will reduce operational expenses. A key advantage of using these solutions will be the ability for organizations, businesses, and institutes to avoid the need to purchase servers, storage hardware, and thereby reduce the expenditure required for maintaining them. Despite the several benefits of using cloud ERP solutions, the technology comes with its set of disadvantages.

The downside of deploying ERP software is the issue of integration of company’s legacy systems and ERP modules. Solutions that are designed to ensure this smooth transfer are expected to open up several new markets for the global cloud ERP market in the near future. Yet another key factor likely to support the growth of the global market is the confidence enjoyed by companies that their data is backed up at all times and that the solution comes with a disaster recovery plan.

Global Cloud ERP Market: Overview 

The global cloud enterprise resource planning (ERP) market is expected to display double-digit growth rate in the coming years. Businesses are increasingly integrating cloud-based ERP applications with conventional ones, thereby creating hybrid ERP systems that can support new business models and can be scaled to serve new customer demands. 

The cloud ERP market can be segmented by function, organization site, component, deployment mode, vertical, and region. In terms of function, finance is projected to display the highest growth rate in the coming years; this is mainly due to the need for efficient and reliable management of different financial activities such as assets management, cash flow management, accounting, and investments. However, operations stood as the largest function segment in the recent years due to the exponentially increasing demand for such solutions from various industry verticals for the execution of business processes. 

In terms of component, managed services is expected to display the highest growth rate in the coming years, while professional services is expected to account for the largest share of the overall market. Furthermore, consulting professional services is expected to exhibit the highest growth rate in the coming years. In the recent past, implementation services accounted for a major share in the cloud professional services market due to the complexities involved in their integration with existing systems. 

The report on the global cloud ERP market looks into the various growth factors and market opportunities along with factors holding back the market’s growth. The meticulous segmentation of the market covered in this report helps to comprehend the growth prospects of different segments, which in turn, assist to make strategic moves in this industry. 

Global Cloud ERP Market: Drivers and Restraints 

The rising adoption of cloud services and mobile applications along with the increasing demand from small and medium enterprises (SMEs) to attain optimum business process efficiency and transparency are the major factors driving the global cloud ERP market. 

An increasing demand from SMEs and large enterprises from diverse industry verticals for hosted ERP services and solutions is further propelling the growth of the cloud ERP market. The increasing support from governments across the world for the advancement of IT infrastructure across enterprises is expected to boost the demand for such solutions. 

Global Cloud ERP Market: Regional Outlook 

The global cloud ERP market can be divided into the regional segments of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America followed by Europe account for the largest revenue contribution to the global market. This is mainly due to the presence of established cloud ERP vendors and service providers in these regions. This is complemented with the early adoption of innovative technological solutions in the developed economies of the U.S., the U.K., and Canada. 

However, Asia Pacific is projected to emerge as the fastest growing region in the global cloud ERP market due to the ever-increasing adoption of such solutions across both large and SMEs in this region. 

Global Cloud ERP Market: Competitive Outlook 

Some of the leading companies that offer cloud ERP solutions and services worldwide are Microsoft Corporation, SAP SE, Sage Software Inc., Intacct Corporation, PLex Systems Inc., Oracle Corporation, Infor, Epicor Software Corporation, Finacialforce.com, and Ramco Systems. The report looks into the both inorganic and organic growth strategies that have been employed by key vendors in this market. This includes innovative product launches, partnerships and collaborations, and mergers and acquisitions to expand their portfolio in the global cloud ERP market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?