Cloud ERP Market Trends, Size, Share, Growth, Industry Analysis, Advance Technology and Forecast 2027
MarketsandMarkets forecasts the global Cloud ERP Market to grow from USD 64.7 billion in 2022 to USD 130.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.0% during the forecast period. The major factors driving the growth of the Cloud ERP market include configuring resources easily, operational efficiency, and growing demand for cloud-based solutions and services, implementation of cloud ERP systems to perform core business operations.
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Large Enterprises segment forecasted to have multiplied growth in market size during the forecast period
Organizations with more than 1,000 employees are categorized as large enterprises. The traction of Cloud ERP in large enterprises is said to be higher than SMEs, as they are adopting Cloud ERP solutions, services to improve business operational efficiency across geographies.
This is due to the affordability and high economies of scale that enables organizations to leverage cloud ERP solutions benefits. Large enterprises spend significantly on R&D in manufacturing, which empowers them to leverage advanced digital solutions, including cloud ERP to improve their business processes. In today’s highly competitive world, large enterprises leave no stone unturned to capture a larger market share and hence spend significant amounts on becoming technologically proficient. Moreover, large enterprises spend significantly on ERP workshops, training, and educating their employees to empower them with the latest trends and technological advancements in the cloud ERP market
Major Cloud ERP vendors include Microsoft (US), Oracle (US), SAP (Germany), IFS (Sweden), Infor (US), Sage software (UK), Workday (US), Plex systems (US), Ramco systems (India), Epicor (US), Tally solutions (India), Odoo (Belgium), Tyler technologies (US), Syspro (South Africa), Acumatica (US), Brightpearl (UK), Deltek (US), QAD Inc. (US), Openpro (US), DELMIAworks (US), 3i Infotech (India) . These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the Cloud ERP market. Product enhancements and collaborations have been the most adopted strategies by major players from 2020 to 2022, which helped companies innovate their offerings and broaden their customer base.
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A prominent player in the Cloud ERP market, Oracle is an established and leading vendor of enterprise-grade products and solutions. The company specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. Its offerings are categorized into three business segments, namely cloud and on-premises software, hardware, and services. The cloud and on-premises software segment offers SaaS, Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS); applications; databases; and middleware software. The hardware segment offers Oracle-engineered systems, servers, and storage and industry-specific products. The services segment offers cloud services to organizations of all sizes, government agencies, educational institutions, and resellers. Oracle’s Fusion EPM, Cloud applications, OCI provide planning, profitability and cost management, financial consolidation and close, account reconciliation, tax reporting, narrative reporting, and enterprise data management to diverse clients, from SMEs, mid-sized businesses, and customers to large enterprises across all major verticals. In the cloud ERP market, Oracle offers Oracle Cloud ERP to help organizations quickly adapt business models and processes to reduce costs and increase innovations. The solution comprises technologically advanced features and capabilities, such as project management, risk management, supply chain management, and analytics for cloud ERP, which enable organizations to obtain enhanced insights, increase agility, and improve efficiency.
Then we have SAP, a leading producer of software for the management of business processes, developing solutions that facilitate effective data processing and information flow across organizations. It categorizes its diverse portfolio into applications; technologies and services; and SAP business network segment. SAP is the market leader in enterprise application software and aims to help companies of all sizes. It leverages the latest technologies, such as machine learning, the Internet of Things (IoT), and advanced analytics to aid customers’ businesses into intelligent enterprises. The company offers an end-to-end suite of applications and services to enable customers to operate profitably, adapt continuously, and make a difference. This is ensured by redefining ERP solutions or paradigms existing and creating networks (fresh) of intelligent enterprises that provide transparency, resiliency, scalability, and sustainability across supply chains. SAP’s end-to-end suite of applications and services enables its customers to operate profitably, adapt continuously, and provide an upper edge to make a difference worldwide. The company’s integrated applications connect all parts of a business or business unit into an intelligent and automated suite on a fully digital platform while replacing the process-driven, legacy platform existing. Today, SAP has more than 230 million cloud users, more than 100 solutions covering mostly all business functions, and one of the largest cloud portfolios of any provider globally.
Microsoft, a leading developer of personal-computer software systems and application operates through three major business segments, namely, productivity and business processes, intelligent cloud, and more personal computing. In the arena of cloud ERP, the company offers Microsoft Dynamics 365 for ERP and CRM management to help organizations make smarter decisions and fuel their business growth. This solution comprises salient features, such as sales, marketing, finance, operations, and HR. Microsoft caters to various verticals, including education, insurance, government, health, hospitality and travel, and retail and consumer goods. Microsoft Dynamics platform on Azure enables taking smarter decisions, redesign business processes quicker and fuel business growth using the cloud-based ERP solution built for and on, Azure—bringing together ERP, business intelligence, infrastructure, compute, and database services. Microsoft Dynamics 365 is hosted in the Microsoft Azure cloud. It brings together all the capabilities of ERP and CRM processes. Besides, it uses standard web technologies to bring together Microsoft and non-Microsoft cloud services.
With Microsoft Dynamics 365, clients have easy access to versatile applications for finance, sales, marketing, field services, supply chain, and more. These are the tools and technologies required for the management, analysis, and optimization of the business. It is designed for companies ready to adapt and innovate in real-time using agile, flexible, efficient, and evolving applications useful for copying, modifying, and extending processes. Microsoft ensures that all the Dynamics 365 apps offer a consistent and modern experience based on built-in and updated insights, intelligence, and workflows. Besides, a mutual data model and unified application platform guarantees seamless extensibility and interoperability among others.
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