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Cloud ERP Market Analysis 2020 By Application, Function & Component Forecasts To 2025
Cloud ERP Market
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The cloud ERP market is spread across various industry verticals such as BFSI, manufacturing, government & public sector, retail, healthcare, aerospace & defense, and IT & telecom. It is majorly used in the BFSI sector to provide better customer experience. It is used to manage the sensitive data of customers with its features such as secure transaction, live operational following, and investigation & evaluation. Additionally, cloud ERP is used in the retail sector to forecast the demand by analyzing the past and future trends of customers. This helps to gain customer satisfaction, maximize sales, and reduce inventory costs.
North America dominates in the cloud ERP market due to the high rate of adoption of new technologies such as cloud, mobility, big data, IoT, and analytics. The availability of key players in the region supports the growth of the ERP market. The APAC region is forecast to grow due to the transformation of developing countries into business hubs. Additionally, the emergence of various small & mid-size businesses in the region will propel the growth of the market.
Some of the vendors operating in the cloud ERP market are Oracle, SAP, Microsoft, Infor, Sage Group Plc., NetSuite Inc. TOTVS, IBM, Rootstock, Acumatica, Ramco Systems, and IQMS. The players are innovating their existing products to enhance customer offerings. For instance, in April 2019, Oracle updated its NetSuite with new analytics and cloud capabilities. The product update aims at enhancing user engagement across digital commerce, finance, HR, supply chain, and marketing domains. Similarly, in January 2017, Microsoft announced its new product Microsoft Dynamics NAV launch. The new product launch intends to increase the ERP product line.
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The cloud ERP market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025 for the following segments:
By Component, 2014-2025 (USD Million)
• Solution
• Service
Cloud ERP Market By Function, 2014-2025 (USD Million)
• Human Capital Management (HCM)
• Sales and Marketing
• Finance and Accounting
• Order Management
Cloud ERP Market By Application, 2014-2025 (USD Million)
• BFSI
• Healthcare
• IT& Telecom
• Government and Public Utility
• Aerospace and Defense
• Education
• Retail
• Others
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