Cloud ERP Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Cloud ERP Market Trends and Forecast

The future of the global cloud ERP market looks promising with opportunities in the banking, financial service, and insurance (BFSI), IT and ITeS, government and public sector, manufacturing, retail and consumer goods, healthcare & life science, and energy & utility sectors. The global cloud ERP market is expected to reach an estimated $86.3 billion by 2028 with a CAGR of 13.7% from 2023 to 2028. The major drivers for this market are escalating demand for cloud services to access on-demand computing, growing integration of cloud services among enterprises, and introduction of advanced technologies, like BYOD (bring your own device).

Cloud ERP Market

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Cloud ERP Market by Segments

The study includes trends and forecast for the global cloud ERP market by component, business function, organization size, end use industry, and region, as follows:

Cloud ERP Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

• Solutions
• Services

Cloud ERP Market by Business Function [Value ($B) Shipment Analysis from 2017 to 2028]:

• Accounting and Finance
• Sales and Marketing
• Inventory and Order Management

Cloud ERP Market by Organization Size [Value ($B) Shipment Analysis from 2017 to 2028]:

• SMEs
• Large Enterprises

Cloud ERP Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Banking, Financial Services, and insurance (BFSI)
• IT and ITeS
• Government and Public Sector
• Manufacturing
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Energy and Utilities
• Others

Cloud ERP Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cloud ERP Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, cloud ERP companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cloud ERP companies profiled in this report include.

• Microsoft
• Oracle
• SAP
• IFS
• Infor

Cloud ERP Market Insights

Lucintel forecasts that SMEs is expected to witness higher growth over the forecast period due to the increasing adoption of these cloud services by SMEs as they help in enhancing productivity and improving business performance.

BFSI is expected to witness higher growth over the forecast period due to the rising integration of banking ERP software for creativity and flexible insights to predict accurately and provide client expectations.

North America will remain the largest region due to the growing adoption of cloud ERP solutions by large and small enterprises so as to integrate them with modern technologies, like IoT and predictive maintenance, in the region.

Features of the Cloud ERP Market

• Market Size Estimates: Cloud ERP market size estimation in terms of value ($B)

• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

• Segmentation Analysis: Cloud ERP market size by various segments, such as by component, business function, organization size, end use industry, and region

• Regional Analysis: Cloud ERP market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

• Growth Opportunities: Analysis on growth opportunities in different components, business functions, organization sizes, end use industries, and regions for the cloud ERP market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the cloud ERP market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the cloud ERP market size?
• Answer: The global cloud ERP market is expected to reach an estimated $86.3 billion by 2028.
• Q2. What is the growth forecast for cloud ERP market?
• Answer: The global cloud ERP market is expected to grow with a CAGR of 13.7% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the cloud ERP market?
• Answer: The major drivers for this market are escalating demand for cloud services to access on-demand computing, growing integration of cloud services among enterprises, and introduction of advanced technologies, such as BYOD (bring your own device).
• Q4. What are the major segments for cloud ERP market?
• Answer: The future of the cloud ERP market looks promising with opportunities in banking, financial service, and insurance (BFSI), IT and ITeS, government and public sector, manufacturing, retail and consumer goods, healthcare & life science, and energy & utility sectors.
• Q5. Who are the key cloud ERP companies?
• Answer: Some of the key cloud ERP companies are as follows:
• Microsoft
• Oracle
• SAP
• IFS
• Infor
• Q6. Which cloud ERP segment will be the largest in future?
• Answer: Lucintel forecasts that SMEs is expected to witness higher growth over the forecast period due to the increasing adoption of these cloud services by SMEs as they help in enhancing productivity and improving business performance.
• Q7. In cloud ERP market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region due to the growing adoption of cloud ERP solutions by large and small enterprises so as to integrate them with modern technologies, like IoT and predictive maintenance, in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global cloud ERP market by component (solutions and services), business function (accounting and finance, sales and marketing, and inventory and order management), organization size (SMEs and large enterprises), end use industry (BFSI, IT and ITeS, government and public sector, manufacturing, retail and consumer goods, healthcare and life sciences, energy and utilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?