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.
Cloud ERP Market: Analyst Perspective
Various companies are launching new cloud-based ERP 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 the cloud 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
Market Size Value in US$ 27.59 billion in 2022 Market Size Value by US$ 108.17 billion by 2030 Growth rate CAGR of 18.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Cloud ERP Market: Strategic Insights
| Market Size Value in | US$ 27.59 billion in 2022 |
| Market Size Value by | US$ 108.17 billion by 2030 |
| Growth rate | CAGR of 18.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Cloud ERP Market Driver:
Increasing Organizational Needs to Improve Staff Productivity and Efficiency Drive Cloud ERP Market Growth
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. According to the study of Nucleus Research, the return on investment (ROI) generated by cloud ERP is 3.2 times higher than the ROI conferred by on-premises ERP. Cloud ERP systems can be easily scaled up or down according to business needs. This flexibility is essential for organizations that experience fluctuations in demand. For example, upon implementation of a cloud ERP system, an e-commerce company can handle increased order volumes during the holiday season without investing in new infrastructure. Thus, an increasing organizational requirement to improve staff productivity and efficiency bolsters the demand for cloud ERP systems and are contributing to cloud ERP market growth.
Cloud ERP Market Report Segmentation and Scope:
The cloud ERP market is segmented on the basis of business function, organization size, and vertical. Based on business function, the cloud ERP market is segmented into finance and accounting, sales and marketing, inventory and order management, human capital management, and others. Based on organization size, the market is bifurcated into large enterprises and small and medium enterprises. Based on vertical, the cloud ERP market is segmented into BFSI, manufacturing, government, aerospace & defense, IT & telecom, healthcare, retail, and others. By geography, the cloud ERP market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
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Cloud ERP Market Segmental Analysis:
Based on business function, the cloud ERP market is segmented into finance and accounting, sales and marketing, inventory and order management, human capital management, and others. The finance and accounting segment held a larger cloud ERP market share in 2022 and is anticipated to record a higher CAGR in the market during the forecast period. The cloud-based ERP software helps generate extensively detailed financial reports, enables greater automation, eliminates duplicate entries, reduces error count, and confers a higher degree of control. These ERP systems also offer cost accounting functionality that can be set up independently of financial accounting according to the organization’s wants and needs. This allows organizations to tailor their accounting software to meet their specialized financial management capabilities, enabling them to streamline their finances and make informed decisions, thus fueling the growth of the segment in the cloud ERP market.
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Cloud ERP Market Regional Analysis:
North America held the largest cloud ERP market share 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. Also, in September 2022, NetSuite, at its SuiteWorld conference, announced a wide variety of tools across its ERP suite to optimize business processes. NetSuite added a host of new applications and features to its cloud-based NetSuite ERP suite to enhance its automation capabilities and compete with midmarket rivals such as Epicor, IFS, and Microsoft Dynamics. The new capabilities were announced at the company’s annual SuiteWorld conference in Las Vegas. Further, in March 2023, SAP launched its new public cloud enterprise resource planning (ERP) offering, which is designed to help midsize companies move to the cloud more quickly than ever before. Therefore, such instances show that the demand for cloud ERP software is increasing in North America.
Cloud ERP Market Key Player Analysis:
Acumatica Inc, Infor Inc, Microsoft Corp, Oracle Corp, Sage Group Plc, SAP SE, Workday Inc, SYSPRO Proprietary Ltd, Epicor Software Corp, and Unit4 Group Holding BV are the key cloud ERP market players profiled in the report.
Cloud ERP Market Recent Developments:
The cloud ERP market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
- In July 2023, Infor, the industry cloud company, announced the continued momentum of Infor Marketplace, which now showcases more than 150 solutions. These include partner-developed applications that extend the functionality of Infor ERP (enterprise resource planning) systems and Infor content that leverages Infor platform technology and OpenAI's ChatGPT language model.
- In June 2023, SAP and Bain & Company are collaborating to help executives maximize the impact of cloud-enabled ERP transformation. By bringing together solutions like RISE with SAP and Bain's business-led transformation expertise, the partnership aims to enable clients to reach their business goals faster and achieve their full ERP potential.
- In May 2023, Kyndryl, the world's largest IT infrastructure services provider, announced an expanded strategic partnership with SAP focused on developing new solutions to help customers solve their most complex digital business transformation challenges.
- In March 2023, Net at Work, a full-service technology and business consultancy, announced the acquisition of Innovation ERP, a leading Sage X3 and Sage 300 consulting firm. The acquisition deepens Net at Work's bench of experienced Sage ERP business technology consultants. It provides Innovation ERP clients with direct access to a complete range of next-generation technologies and services to help them unleash the power of their business, including customer relationship management (CRM), Employer Solutions, eCommerce, Managed IT, and Cloud Hosting services.
- In February 2023, Acumatica's latest release of its SaaS ERP includes new features to improve ease of use and productivity for SMB customers while strengthening its competitive advantage.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Business Function, Organization Size, Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Increasing organizational needs to improve staff productivity and efficiency and rising adoption of cloud ERP solutions across various verticals are the major factors that propel the cloud ERP market.
The cloud ERP market was estimated to be US$ 27.59 billion in 2022 and is expected to grow at a CAGR of 18.6 % during the period 2022 - 2030.
Technological advancements and growing implementation of Two-Tier ERP systems which is anticipated to play a significant role in the cloud ERP market in the coming years.
The Cloud ERP market is expected to reach US$ 108.17 billion by 2030.
The incremental growth expected to be recorded for the cloud ERP market during the forecast period is US$ 80.58 billion.
The key players holding majority shares in the cloud ERP market are Microsoft, SAP, Oracle, Workday, and Infor.
The List of Compnies - Cloud ERP Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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