Cloud ERP Market is Projected to reach from USD 36.5 billion to USD 117.2 billion in 2029, and expanding at a higher CAGR of 15.7% | Growth, Size & Forecast

The Cloud ERP Market is estimated to reach USD 117.2 billion in 2029, growing at a CAGR of 15.7% from 2022-2029.

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/cloud-erp-market-share-analysis-industry-research/

The factors driving growth of the Cloud ERP Market includes rising focus by businesses on enhancing operational efficiency and streamlining business processes such as sales and marketing, procurement and supply chain management, emerging trend of Bring Your Own Device (BYOD) and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) by major companies, Government initiatives promoting digital transformations, rising focus by companies on enhancing IT infrastructure and rapid urbanization, are some of the additional factors supplementing the Cloud ERP Market size. In addition, the increasing investments by major corporations on research and development, strategic partnerships between enterprises, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth.

However, growth of the Cloud ERP Market is hindered due to insufficient customization options available for SaaS ERP solutions.

The major players operating in the market are Acumatica, Inc., SAP SE, Koch Industries, Inc., Sage Group Plc, Oracle Corporation, International Business Machines Corporation, Microsoft Corporation, Plex Systems, Ramco Systems Limited and Epicor Software Corporation among others.

Based on Type, the Finance and Accounting segment is predicted to grow at a significant CAGR during the forecast period

Cloud ERP solutions help businesses in maintain balance sheet, handling huge transaction volumes and provides automatic billing and invoicing, are some of the features pushing growth of the segment.

Based on Industry Verticals, the Manufacturing segment is projected to grow at a robust CAGR over the forecast period

Cloud ERP solutions aids companies in minimizing infrastructure and logistics costs, managing data operations in real-time and provide market trends, are propelling Cloud ERP Market Share.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of the leading players such as International Business Machines Corporation, Oracle Corporation and Microsoft Corporation, growing adoption of advanced technologies, rising tech-savvy population and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Development

In 2020, Koch Industries, Inc. acquired Infor from Golden Gate Capital. Infor is one of the leading software companies that develop SMB and Enterprise ERP software cloud products for industries including Manufacturing, Healthcare, Retail, and others

Market Segmentation

Segmentation by Business Function Type

Finance and Accounting
Sales and Marketing
Inventory Management
Others

Segmentation by Organization Size

Small and Medium Enterprises
Large Enterprises

Segmentation by Industry Vertical

BFSI
Telecom
Healthcare and Life Sciences
Manufacturing
Government and Public Sector
Aerospace and Defence
Retail
Education
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.