Cloud Enterprise Resource Planning Market by Component (Services, Solution), Business Function (Finance & Accounting, Human Capital Management, Inventory & Order Management), Organization Size, Vertical - Global Forecast 2024-2030
The Cloud Enterprise Resource Planning Market size was estimated at USD 77.34 billion in 2023 and expected to reach USD 94.92 billion in 2024, at a CAGR 22.82% to reach USD 326.07 billion by 2030.
Cloud ERP software is accessible over the Internet and delivers advanced functionality for all the core business functions in an organization. This software gives companies access to mission-critical sites at any time, from any location, and offers the infinite ability to scale and innovate. Cloud ERP systems deliver tremendous value to organizations, helping them boost productivity and gain insights. A cloud ERP system intelligently automates processes, provides AI and ML insights, and allows companies to innovate business models. Moreover, the rising demand to improve operational efficiency and streamline business processes and ongoing digital transformation in various industries is enhancing the adoption of cloud ERP solutions. However, data security and privacy threats and more time and cost required for cloud ERP implementation significantly impede cloud ERP utilization. In addition, integrating advanced technologies and innovative features of cloud ERP systems creates robust opportunities for developing and adopting cloud ERP systems.
Regional Insights
The Americas have a significant landscape in the cloud enterprise resource planning market driven by the need for improved efficiency and cost reduction. Key sectors include manufacturing, healthcare, retail, and government agencies. Notable initiatives include investment in research and development by tech giants and the growing demand for cloud ERP systems among small to medium businesses (SMBs) seeking to optimize their operations with minimal upfront costs and companies increasingly focusing on data security and compliance amidst strict privacy regulations, further fueling the market growth. In the European Union (EU), digital transformation strategies are driving the adoption of cloud ERP solutions across industries. A rising number of startups entering the region contribute to increased investments in cloud-based technologies. The Middle East displays significant growth potential in cloud ERP adoption due to its ongoing digital transformation initiatives. The APAC has observed a developing landscape in the cloud ERP market, driven by strong government support for digital transformation initiatives and robust domestic demand from sectors including manufacturing, retail, and healthcare. Increasing internet penetration, thriving startup ecosystem, and government initiatives are now adopting cost-effective SaaS-based ERP solutions tailored to their needs. The rising skill gap in data analytics has also spurred investments in training programs to enhance workforce capabilities in utilizing these systems.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Cloud Enterprise Resource Planning Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing demand to improve operational efficiency and streamline business processes
- Ongoing digital transformation in the industries
- Increasing adoption across BFSI and government sector
- Market Restraints
- Time and cost requirements of cloud ERP implementation
- Market Opportunities
- Integration of advanced technologies in ERP systems
- Improvements in features of cloud ERP systems
- Market Challenges
- Data security and privacy threats that persist in cloud ERP systems
- Market Segmentation Analysis
- Component: Proliferating adoption of cloud ERP solutions
- Business Function: Penetrating utilization of cloud ERP in the finance & accounting sector
- Organization Size: Large enterprises utilizing cloud ERP for seamless integration between various systems
- Vertical: Potential adoption of cloud ERP in banking, financial services, and insurance
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cloud Enterprise Resource Planning Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cloud Enterprise Resource Planning Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- SAP and Bain Partner to Help Leaders Drive Cloud-Enabled ERP Transformation
SAP SE and Bain & Company have partnered to support business leaders in maximizing the impact of cloud-enabled ERP transformation. This collaboration aims to create a strategic technology vision and future-proof the journey for cloud ERP success.
ERP Buddies Announces Expansion into the United Kingdom as a Leading Cloud ERP Solution Provider
ERP Buddies recently announced their expansion into the United Kingdom, cementing their place as a major cloud ERP solution provider. The move demonstrates that ERP Buddies has the vision, ambition, and capabilities to deliver impressive results for clients seeking an integrated enterprise resource planning system. With this new regional foothold, customers are expected to benefit from improved access to innovative resources and superior customer support through localized teams. In addition, they offer tailor-made solutions according to each client’s specific needs, with full scalability options available.
GROW with SAP Brings Proven Cloud ERP Benefits to Midsize Customers
SAP's Grow with SAP program is designed to bring the benefits that large enterprises receive from Cloud Enterprise Resource Planning (ERP) solutions to midsize customers. With this program, enterprises of all sizes can jump-start their digital transformation initiatives, reduce complexity, and provide greater visibility by leveraging powerful cloud platforms. The advantages are clear: more efficient operations and cost savings. Grow with SAP provides an advanced platform for businesses of all sizes looking to optimize their efforts while improving customer satisfaction by decreasing wait times and enhancing serviceability.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cloud Enterprise Resource Planning Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cloud Enterprise Resource Planning Market, highlighting leading vendors and their innovative profiles. These include abas Software GmbH, Acumatica, Inc., Azentio Software Private Limited, Dassault Systèmes SE, Deltek, Inc., ECI Software Solutions, Inc., Epicor Software Corporation, Frappe Technologies Pvt. Ltd., Genius Solutions, Global Shop Solutions, Inc., GUS Group, IFS World Operations AB, Infor, LionOBytes LLC, Microsoft Corporation, OpenPro, Inc., Oracle Corporation, QAD Inc., Ramco Systems Limited, Rockwell Automation, Inc., Rootstock Software, SAP SE, Synergy Technology Ltd., SYSPRO Proprietary Limited, The Sage Group PLC, TOPIX Business Software AG, Unit4 Group Holding B.V., Verpura GmbH, Workday, Inc., and Xentral ERP Software GmbH.
Market Segmentation & Coverage
This research report categorizes the Cloud Enterprise Resource Planning Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Services
- Managed Services
- Professional Services
- Consulting
- Implementation & Integration
- Support & Maintenance
- Solution
- Business Function
- Finance & Accounting
- Human Capital Management
- Inventory & Order Management
- Sales & Marketing
- Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
- Vertical
- Aerospace & Defense
- Banking, Financial Services, and Insurance
- Education
- Government & Public Sector
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Colorado
- Connecticut
- Florida
- Illinois
- Michigan
- Minnesota
- New York
- Ohio
- Pennsylvania
- Texas
- Washington
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Services
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing demand to improve operational efficiency and streamline business processes
- 5.1.1.2. Ongoing digital transformation in the industries
- 5.1.1.3. Increasing adoption across BFSI and government sector
- 5.1.2. Restraints
- 5.1.2.1. Time and cost requirements of cloud ERP implementation
- 5.1.3. Opportunities
- 5.1.3.1. Integration of advanced technologies in ERP systems
- 5.1.3.2. Improvements in features of cloud ERP systems
- 5.1.4. Challenges
- 5.1.4.1. Data security and privacy threats that persist in cloud ERP systems
- 5.2. Market Segmentation Analysis
- 5.2.1. Component: Proliferating adoption of cloud ERP solutions
- 5.2.2. Business Function: Penetrating utilization of cloud ERP in the finance & accounting sector
- 5.2.3. Organization Size: Large enterprises utilizing cloud ERP for seamless integration between various systems
- 5.2.4. Vertical: Potential adoption of cloud ERP in banking, financial services, and insurance
- 5.3. Market Trend Analysis
- 5.3.1. Government adoption of cloud ERP and favorable partnership between product developers and end-users
- 5.3.2. Surging digitization initiatives and evolving IT infrastructure across industries in the Asia-Pacific region
- 5.3.3. Adoption of cloud ERP by SMEs with growing cloud penetration in support of government initiatives
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Cloud Enterprise Resource Planning Market, by Component
- 6.1. Introduction
- 6.2. Services
- 6.3. Solution
- 7. Cloud Enterprise Resource Planning Market, by Business Function
- 7.1. Introduction
- 7.2. Finance & Accounting
- 7.3. Human Capital Management
- 7.4. Inventory & Order Management
- 7.5. Sales & Marketing
- 8. Cloud Enterprise Resource Planning Market, by Organization Size
- 8.1. Introduction
- 8.2. Large Enterprises
- 8.3. Small and Medium-Sized Enterprises
- 9. Cloud Enterprise Resource Planning Market, by Vertical
- 9.1. Introduction
- 9.2. Aerospace & Defense
- 9.3. Banking, Financial Services, and Insurance
- 9.4. Education
- 9.5. Government & Public Sector
- 9.6. Healthcare
- 9.7. IT & Telecom
- 9.8. Manufacturing
- 9.9. Retail
- 10. Americas Cloud Enterprise Resource Planning Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Cloud Enterprise Resource Planning Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Cloud Enterprise Resource Planning Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. SAP and Bain Partner to Help Leaders Drive Cloud-Enabled ERP Transformation
- 13.3.2. ERP Buddies Announces Expansion into the United Kingdom as a Leading Cloud ERP Solution Provider
- 13.3.3. GROW with SAP Brings Proven Cloud ERP Benefits to Midsize Customers
- 13.3.4. Boomi Partners with Leading Japanese ERP Provider To Accelerate Digital Transformation in Japan
- 13.3.5. Net at Work Acquired Innovation ERP, a Sage X3 and Sage 300 Business Consulting Firm
- 13.3.6. Epicor Acquired Cloud-Based Financial Planning and Analysis Provider DSPanel
- 13.3.7. Aptean to Expand ERP Capabilities for Beverage Companies
- 13.3.8. MDF commerce announces a partnership with Acumatica offering its SMBs a fully integrated B2B eCommerce solution to Acumatica Cloud ERP
- 13.3.9. Rootstock Software Launches Digital Supplier Collaboration in the Fall ‘22 Release of its Manufacturing Cloud ERP
- 13.3.10. Microsoft announced the Microsoft Supply Chain Platform, a new design approach for supply chain agility, automation, and sustainability
- 13.3.11. Version 1 Named as Oracle SaaS Cloud ERP Partner for Enterprise Ireland
- 13.3.12. Academia ERP By Serosoft Gets INR 30 Crores Funding From SIDBI Ventures
- 13.3.13. Deltek Completes Its Acquisition of TIP Technologies
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
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