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Cloud ERP Market Study: An Introduction to Fundamental Charting
Cloud ERP Market
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Summary
Industry Background:
Cloud enterprise resource planning (ERP) is a software as a service (SaaS) which allows users to software applications that run on shared computing resources includes memory, disk storage, and processing power over the internet. It also provides organisations access to their business-critical applications at any time from any location. High penetration of cloud based deployment model across the globe is boosting the cloud ERP market growth in upcoming year.According to HTF, the market for Cloud ERP is expected to register a CAGR of 8.1% during the forecast period to 2024. This growth is primarily driven by Growing Demand Among Enterprises to Improve Operational Efficiency and Streamline Business Processes and Increasing Adoption of Cloud-Based Solutions.
Globally, a noticeable market trend is evident The Growth in Adoption of Cloud-Based ERP in Manufacturing, Government, and Retail Sector. Major Players, such as Oracle (United States), SAP (Germany), Microsoft (United States), Infor (United States), Unit4 (Netherlands), Workday (United States), Sage Software (United Kingdom), Epicor (United States), QAD Inc (United States), Plex Systems (United States) and Acumatica (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2018, Blackbaud, a leading cloud software vendor, formed a partnership with Microsoft in developing cloud solutions targeting non-profit organizations.
n April 2019, Oracle enhanced its NetSuite portfolio with the addition of planning and budgeting service. The new service would be integrated with NetSuite, enabling enterprises to analyze performance in real time. and In March 2019, Oracle added AI capabilities to its cloud ERP portfolio. The new capabilities include expense reporting assistant and project management digital assistant.
Market Drivers
Growing Demand Among Enterprises to Improve Operational Efficiency and Streamline Business Processes
Increasing Adoption of Cloud-Based Solutions
Market Trend
The Growth in Adoption of Cloud-Based ERP in Manufacturing, Government, and Retail Sector
Restraints
Limited Customization Options for SaaS-Based ERP
High Capex of PaaS-Based ERP
Opportunities
Advent of Big Data and Analytics and Various Government Initiatives to Increase Digitalization Among Organizations in Developing Economies
Challenges
Integration Issue With Legacy and On-Premises Systems
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Strategic Points Covered in Table of Content of Global Cloud ERP Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Cloud ERP Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025market. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the basic information of the Global Cloud ERP Market Insights by Application, Product Type, Competitive Landscape & Region
....Continued
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