Cloud-based Enterprise Resource Planning (ERP) Market 2023 to Experience Exponential Growth | At a CAGR of 13.6%

According to a new report published by Allied Market Research, the global cloud-based ERP market was valued at $13,238 million in 2016 and is projected to reach $32,184 million by 2023, growing at a CAGR of 13.6% from 2017 to 2023. The services segment is anticipated to grow at the highest rate during the forecast period.

The cloud-based ERP (Enterprise Resource Planning) market refers to the segment of the ERP software industry that provides cloud-based solutions for businesses. ERP is a software system that helps organizations manage and streamline various aspects of their operations, including finance, human resources, supply chain management, manufacturing, and more. In a cloud-based ERP system, the software and data are hosted and accessed over the internet, rather than being installed on-premises on a company's own servers.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4577

North American market generated the highest share of revenue in the global cloud-based ERP market in 2016 owing to technological advancements and a rise in applications of cloud-based ERP in manufacturing, government, and retail fields. The Asia-Pacific cloud-based ERP market is expected to grow at the highest rate, followed by LAMEA during the forecast period. The need for transparent and modernized manufacturing processes in diverse industries is expected to drive the growth of cloud-based ERP software in Asia-Pacific.

The software segment contributed the highest share in 2016. This segment accounted for $8,211 million in 2016 and is projected to grow at a CAGR of 12.8% during the forecast period. The cloud-based ERP market for managed services is projected to grow at the highest rate of 14.8%.

The other functions segment generated the maximum share of revenue in 2016 and is expected to dominate the market throughout the forecast period at a CAGR of 16.8%. Cloud-based ERP market for finance is expected to witness the highest CAGR of 17.7% during the forecast period, followed by retail.

For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/4577

The cloud-based ERP market can be divided based on deployment models, primarily into Public Cloud, Private Cloud, and Hybrid Cloud. Public cloud ERP solutions are hosted by third-party providers and are accessible over the internet. Private cloud ERP solutions are hosted on a dedicated infrastructure for a single organization. Hybrid cloud ERP solutions combine elements of both public and private clouds, offering flexibility and customization options.

ERP solutions cater to businesses of various sizes. The market segments include Small and Medium-sized Enterprises (SMEs) and Large Enterprises. SMEs often seek cost-effective and easy-to-implement cloud ERP solutions, while larger enterprises may require more extensive and complex solutions to manage their operations.

The cloud-based ERP market serves a diverse range of industries. Segmentation by end-user industry includes Manufacturing, Retail, Healthcare, Financial Services, Education, and more. Each industry has unique requirements and compliance standards, driving the need for industry-specific ERP solutions.

Buy this Report at: https://www.alliedmarketresearch.com/cloud-based-enterprise-resource-planning-erp-market/purchase-options

The report features a competitive scenario of the global cloud-based ERP industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Oracle, IBM, Microsoft, SAP SE, Sage Group Plc., Aptean, Epicor Software Corp., Infor, Syspro, Unit4 and others. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the cloud-based ERP market.

The cloud-based ERP market is in its growth phase and is expected to grow at a CAGR of 13.6% during the forecast period. Rapid adoption of cloud deployments in SMEs across various countries, increase in need for operational efficiency and transparency among various industry verticals, and growth in focus of organizations toward advanced technological solutions to help them in key decision-making drive the growth of the global cloud-based ERP market.

Access the full summary at: https://www.alliedmarketresearch.com/cloud-based-enterprise-resource-planning-erp-market

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.