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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cloud ERP Market Size
The global cloud ERP market reached approximately USD 68.09 billion in 2023. The market is projected to grow at a CAGR of 15.4% between 2024 and 2032, reaching a value of around USD 247.04 billion by 2032.
Key Takeaways
- The BFSI sector leverages cloud ERP for managing financial risk and ensuring compliance with ever-changing regulations.
- Cloud ERP enables telecom companies to handle various billing models, including prepaid, postpaid, and usage-based billing.
- The government and public sector is witnessing digitisation, leveraging cloud ERP for budgeting, procurement, and expenditure management.
Cloud ERP refers to a type of enterprise resource planning software (ERP) that operates on a provider's cloud computing platform instead of an onsite network of a particular enterprise. Organisations can access the ERP software and tools over the internet, which allows them to consolidate different business processes such as accounting, inventory management, procurement, and other functions into one cohesive system that provides a single data source. Cloud ERP allows companies to access business-essential information from any part of the world.
One of the major factors driving the cloud ERP market growth is its growing usage by various organisations around the globe. These organisations are seeking efficient strategies for improved functioning, which would help them conduct various business operations comprehensively in the ERP software. Cloud ERP services offer a centralised system to businesses, allowing them to carry out multiple tasks such as accounting, marketing, and managing client data, among others, in a more simplified and flexible manner, with increased transparency adding to the overall business efficiency. Cloud ERP further decreases the time needed in data collection and generating analytical reports, which helps in streamlining business operations of different natures.
Cloud ERP Market Report Snapshots
Cloud ERP Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market attained a value of nearly USD 68.09 billion.
The market is projected to grow at a CAGR of 15.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 247.04 billion by 2032.
The major drivers of the market are the surging availability of skilled workforce and the rising deployment of cloud ERP services in various end-use sectors.
The key trends propelling the market growth are the growing usage of cloud ERP software in finance and accounting and the rising demand for improved operational efficiency.
The major regions in the cloud ERP market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Services and solution are the major components of cloud ERP considered in the market report.
The several segments based on the business function of the product include finance and accounting, sales and marketing, and inventory and order management.
Large enterprises and small and medium-sized enterprises are the different organisation sizes considered in the market report.
The significant industries included in the market report are banking, financial services, and insurance, telecom, government and public sector, retail, manufacturing, aerospace and defence, education, and healthcare and life sciences, among others.
The major players in the market are IFS, Oracle Corporation, Microsoft Corporation, SAP, and Infor, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124