Cloud ERP Market Forecast, Trends, and Scope by 2030 (2024)

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The cloud ERP market is expected to grow from US$ 27.59 billion in 2022 and is expected to reach US$ 108.17 billion by 2030; it is estimated to record a CAGR of 18.6% from 2022 to 2030.The rising integration with the Internet of Things (IoT) is likely to remain a key trend in the market.

Cloud ERP Market Analysis

Various companies are launching new cloud-basedERP software. For instance, in June 2023, 10X ERP announced the launch of its cloud-based ERP software, which is specifically designed to cater to the needs of small to medium-sized industrial distribution businesses. The solution offers an intuitive, user-friendly, and fast experience. Its core capabilities encompass a wide range of features, including sales and purchase order entry, inventory management, customer and vendor relationship management, real-time dashboards, a custom shipping integrator, QC management tools, and a robust, fully integrated accounting system that provides real-time data. Such initiatives by the market players are fueling the growth of cloud ERP in the market. In addition, the growing adoption of cloud ERP software in various industry verticals, including manufacturing, IT and telecom, BFSI, healthcare, retail, and others, is fueling the growth of the market. Furthermore, the growing technological advancement in the software is further expected to fuel the growth of thecloud ERP market

Cloud ERP Market Overview

Cloud ERP is known as an enterprise resource planning software that can be accessed over the Internet. Hosted on a provider’s cloud computing platform, cloud ERP is typically delivered as a service (software-as-a-service or SaaS ERP). Cloud ERP software provides various advantages; one of the largest advantages of cloud ERP software is its almost limitless customizability. Add-on solutions, open APIs, industry-specific functions, and role-based dashboards allow companies to implement powerful decision-making tools, unparalleled data visibility, and a future-proof platform for success. Enterprises can implement chosen editions that have been designed to the needs of their specific industries—distribution, manufacturing, retail, and construction, among others. The field and office teams work in tandem to complete multiple projects under budget and on time, but challenges arise when they do not have efficient information. Construction-specific ERP software integrates applications and systems—including financials, job cost accounting, inventory, CRM, payroll, and project management, among others—for a complete, real-time view of the business that instantly connects all workers in the team.

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Cloud ERP Market: Strategic Insights

Cloud ERP Market

• 
  CAGR (2022 - 2030)

  18.6%

• Market Size 2022
  US$ 27.59 Billion

• Market Size 2030
  US$ 108.17 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing Organizational Needs to Improve Staff Productivity and Efficiency

FUTURE TRENDS

• Rising integration with Internet of Things (IoT)

OPPORTUNITIES

• Rising Adoption of Cloud ERP in Various Sectors

Key Players

• Acumatica Inc
• Infor Inc
• Microsoft Corp
• Oracle Corp
• Sage Group Plc
• SAP SE
• Workday Inc
• SYSPRO Proprietary Ltd
• Epicor Software Corp
• Unit4 Group Holding BV

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Business Function

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

Organization Size

• Large Enterprises
• SMEs

Vertical

• Manufacturing
• IT and Telecom
• BFSI
• Healthcare
• Retail
• Government
• Aerospace and Defense

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CloudERP Market Drivers and Opportunities

Increasing Organizational Needs to Improve Staff Productivity and Efficiencyto Favor Market

Businesses are continuously seeking ways to boost their output and effectiveness in the current fast-paced, intensely competitive commercial landscape. Cloud-based enterprise resource planning (ERP) systems have garnered significant attention as they assist in business growth, collaborations, and effective operations. Cloud ERP offers a variety of benefits over traditional on-premise systems. Cloud-based systems are accessible from anywhere with an Internet connection. This means that employees can retrieve critical business collaboration data and perform tasks remotely. For example, sales representatives can access real-time inventory data while on the go, which allows them to execute timely customer interactions. Cloud ERP provides real-time data updates and analytics, which can be utilized to make informed decisions. For example, using data obtained from cloud ERP systems, managers can monitor inventory levels and demand in real-time, allowing for proactive restocking and optimized production schedules. Cloud ERP includes collaboration tools, which improve teamwork and coordination. For example, a cloud ERP system facilitates project management and collaboration among remote teams, streamlining project workflows and reducing errors. Further, cloud ERP can reduce operational costs by automating processes and reducing the need for on-premise infrastructure.

Rising Adoption of Cloud ERP in Various Sectors

The Cloud ERP market has grown strongly in the past few years, and one major driving factor for this has to be digitalization in Cloud ERP systems. Owing to advanced technologies and increasing demand from businesses for streamlined and effective tax processes, the demand for digital solutions has been spiraling upward to make all activities related to taxes easier. Digitization of any Cloud ERP system has a lot of benefits associated with it for businesses of all scales and any person. One of the major advantages is the automation of all tasks related to taxation. This reduces manual effort and hence reduces the possibility of errors to a minimum. Through Cloud ERP, data entry, tax calculations, and reporting can be automated, ensuring accuracy and compliance with tax laws.

Cloud ERP Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Cloud ERP market analysis are business function, organization size, and vertical.

• Based on business function, the market is segmented into finance and accounting, sales and marketing, inventory and order management, human capital management, others. The inventory and order management segment dominated the market in 2022.
• Based on organization size, the market is bifurcated into large enterprises, SMEs. The large enterprises segment dominated the market in 2022.
• Based on vertical, the commercial enterprises market is bifurcated into manufacturing, IT and telecom, BFSI, healthcare, retail, government, aerospace and defense, and others. The manufacturing segment dominated the market in 2022.

Cloud ERP Market Share Analysis by Geography

The geographic scope of the Cloud ERP market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America dominated the market in 2022. Technological changes have a substantial impact on the North American economy. All developed countries in North America have a significant focus on creating technological innovations. The US economy depends on technology substantially. As a result, many states have started major initiatives to ignite innovation and empower entrepreneurs. The most frequently mentioned technologies are the Internet of things (IoT), big data analytics, mobility,artificial intelligence (AI), digital media, biotechnology, telemedicine, and cloud computing. Various companies in North America are deploying new cloud-based software. For instance, in April 2023, SAP SE announced that the Greater Austin Merchants Cooperative Association (GAMA) selected SAP S/4HANA Cloud, which is a public edition to help future-proof the organization and support its business transformation. With SAP S/4HANA Cloud, public edition, the company is helping midsize businesses harness the proven benefits of cloud ERP with built-in industry best practices.

CloudERP Market Report Scope

Cloud ERP Market News and Recent Developments

The Cloud ERP market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Cloud ERP market are listed below:

• SAP and its partner SGN Software Pvt Ltd launched a flagship Cloud ERP offering designed for small and mid-sized organisations. (Source: SAP, Press Release, July 2024)

• Forterro, the European provider of ERP software solutions to the industrial mid-market, announced the UK launch of Fortee, its entry-level cloud-based ERP solution. Fortee has been designed specifically for the needs of SME discrete manufacturers and industrial startups and is based on 15 years of cloud-ERP learning. (Source: Forterro, Press Release, May 2024)

Cloud ERP Market Report Coverage and Deliverables

The “Cloud ERP Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

• Cloud ERP market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Cloud ERP market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Cloud ERP market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the superconductor market
• Detailed company profiles

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