Global Cloud ERP Market Size, Share | Forecast to 2023

Cloud ERP Market

Cloud ERP Market is valued at 18500 million USD in 2017 and is expected to reach 32700 million USD by the end of 2023, growing at a CAGR of 10.0% between 2017 and 2023.

Owing to technological advancements and adaptation in cloud computing, cloud enterprise resource planning market is increasing at a significant pace. Cloud ERP is an enterprise resource planning (ERP) software that is programmed to provide a distributed computing platform, in place of on-premises inside an enterprise’s remote location. It helps an enterprise to manage different services of its business such as procuring, inventory management, and customer relationship management (CRM). Cloud ERP services are being implemented on a large scale in organizations across several end-use industries. The Cloud ERP Market is projected to witness a massive growth during the forecast period due to the higher adaptation of cloud computing, increasing advanced digitalization technique, and financial applications. Reducing surplus task, government’s approach towards the adoption of advanced technologies, and enterprise’s need to establish business process are further driving the growth of this market.

The global cloud ERP market is segmented  by functions (human capital management, sales and marketing, inventory and order management, finance and accounting), end-use industry (automotive, aerospace & defense, retail, banking & financial services, IT and telecommunication, education, government and public sectors, others), component (solutions, services), organization (SME, large enterprises), and geography.

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Based on components, the cloud ERP market is divided into solutions and services. Among these, services are expected to be the fastest growing segment in the market. This segment includes services such as professional services, sales forecasting, managed services, operation and integration services, advisory services, and support and maintenance services. It allows enterprises to tie the breach between legacy systems and modern applications, deploy ERP solution, and instruct the end user regarding the benefits of a cloud ERP solution. It also supports enterprises to retain their ERP solution in running. Various technological advancements and digitalization are producing high growth opportunities which gives a further push to the end-use industries such as banking & financial services, retail, government, and public sectors, automotive, and others.

The Asia-Pacific will occupy more market share in the following years, especially in China, also fast-growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Cloud ERP.

Europe also play important roles in the global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.

Market Segment by Companies, this report covers

Microsoft Corporation

Oracle Corporation

SAP SE

Infor

Sage Software, Inc.

Epicor Software Corporation

Intacct Corporation

Financialforce.Com

Plex Systems, Inc.

Ramco Systems

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Market Segment by Regions, regional analysis covers

North America United States, Canada and Mexico

Europe Germany, France, UK, Russia and Italy

Asia-Pacific China, Japan, Korea, India and Southeast Asia

South America Brazil, Argentina, Colombia

Middle East and Africa Saudi Arabia, UAE, Egypt, Nigeria and South Africa

Market Segment by Type, covers

Finance

Marketing

Sales

Operations

Human Resource

Market Segment by Applications, can be divided into

SMEs

Large Enterprises

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