Cloud ERP Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

 Overview

Cloud Enterprise Resource Planning (ERP) Market size is estimated to reach $41.09 billion by 2025, after growing at a CAGR of 9% during the forecast period (2020-2025).  Cloud ERP is a type of software as a service (SAAS) that provides increased accessibility through the internet, which enables the users to share and transfer data in real-time specifically across business departments. Factors such as the growing need for optimization of business process, effective resource utilization in the enterprises are attributing for the market demand of cloud ERP. This is because the integration of ERP and MES systems enables accessibility to gather data from the entire supply chain. On the other hand, overall equipment effectiveness (OEE) determines the effective usage of assets in a manufacturing execution systems and defines the manufacturing operations performance. In schools and colleges, the prevalence of ERP database management system is in a rise to handle and manage the academic and administrative system. All these factors are boosting the growth of the cloud ERP market.

Key Takeaways

  • North America dominates the Cloud ERP market share owing to the increasing number of cloud ERP vendors in this region.
  • The growing prominence of cloud ERP in managing BFSI business operations is playing a vital role in burgeoning the market growth of Cloud ERP.
  • Increasing adoption of cost-effective technology by SMEs to stand ahead of the curve in the customer-centric economy. Therefore, this factor is driving the market demand for Cloud ERP.

Vertical - Segment Analysis

BFSI segment occupied the major share in the cloud ERP market size, as of 2018. This is due to the rise in the adoption of ERP solutions by the enterprises in BFSI vertical to develop their day to day operations while maintaining operational efficiency. Moreover, these cloud-based solutions offers notable benefits to enterprises in BFSI vertical, which include business continuity, flexibility, and cost savings. The growing focus of enterprises to deliver their online services online to digitally connected customers coupled with the entry of FinTech companies resulted in the disruption in BFSI. On the other hand, insurance companies are concentrating on digital service offerings to customers which hold on these disruptions and traditional banking. The cloud-based content management system supports varied businesses to store and edit using a unified platform.

Organization Size - Segment Analysis

Small & Medium Enterprises (SME’s) has been elevating as the primary market for cloud ERP.  SMEs operate using limited budget and manpower, which represents the prone to risk. 
Thus, price-sensitive SME’s are adopting advantageous cloud ERP cost-effective solutions to modernize the business process, thereby stay competitive in the marketplace. This is because, ERP supports enterprises to manage different aspects involved in a business, such as inventory management, customer relationship management (CRM) and purchasing. In addition to this, ERP applications deal with modules for the finance and human capital management aspects of a business. Hence, cloud ERP is one of the promising technology trends that support organizations that are operating in the customer-centric economy.  

Geography - Segment Analysis

North America dominated the global Cloud ERP market share, accounts for more than 32%, followed by Europe and APAC. It is owing to the highest rate of adoption of cloud, analytics, IoT, big data, mobility, and digital transformation technologies in the U.S., Canada, and Mexico. The presence of more number of cloud ERP vendors, continuous technology advancements by enterprises is contributing to the growth of the North America cloud ERP market.  This adoption is not only highlighting single region share but also providing a significant number of opportunities to the cloud ERP vendors across the globe to engage with effective business operations.

Location: United States

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