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Cloud ERP Market|Key players are Oracle, SAP SE , Workday ,
Ramco Systems , IQMS , Rootstock Software , Infor , Unit4 ,
Microsoft, Sage Software , Acumatica , Deltek , Plex Systems ,
and QAD Inc . - Global Forecast to 2025
Meticulous Research® – leading global market research company is researching on
cloud ERP market titled “Cloud ERP Market by Functions (Human Capital
Management, Sales and Marketing, Inventory and Order Management , Finance and
Accounting), End-use Industry (Automotive, Banking & Financial Services, Retail, IT
and Telecommunication, Aerospace & Defence, Government and Public Sectors,
Education, and Others), Component(Solutions & Services), Organization (Small &
Medium Enterprises and Large Enterprises), and Region - Global Forecast to 2025”.
Increasing adoption of cloud-based services with integrated business management
and on-demand access to computing services across the world are the key factors
driving the global cloud ERP market. Cloud ERP is a shared database that supports
several functions used across different business units that relies on the cloud rather
than proprietary server infrastructure to support businesses share information across
segments. The need for empowering on-demand access to computing and large storing
facilities are driving companies towards Cloud ERP. For instance, in 2017, Blackbaud,
the world’s leading cloud software company, expanded partnership with Microsoft for
pursuing non-profit cloud solutions to create high growth opportunities in the future
market.
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The Services Segment is Expected to Register Exponential Growth during
the Forecast Period
Based on components, the Cloud ERP market is segmented into solutions and services.
Among these, services are expected to be the fastest growing segment in the market.
The service sector is on high growth trajectory, driven by enhanced adaptation of cloud
computing, raising innovation accessible by digitalization technique, and financial
applications. It also reduces redundant task, supplies process management, and
improves the precision of financial data. These factors are creating the high growth
opportunities which gives a further push to the banking & financial services, retail,
government and public sectors, and automotive, among others.
Banking & Financial Services Segment is Expected to Witness the Highest
CAGR during the Forecast Period
Based on end-use industry, the banking & financial services segment of the Cloud ERP
market is expected to grow at the highest rate in the coming years. Cloud ERP
maintains operational efficiency and provides solutions and services that can benefit
enterprises across the BFSI to compete with today’s digital world. It also minimizes
huge infrastructure cost by providing business flexibility and professional and
advisory services, which ultimately increases the growth opportunities for cloud-based
ERP market during the forecast period.
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Asia-Pacific: The Fastest Growing Regional Market
Geographically, North America, comprising the U.S. and Canada, accounted for the
largest share of the global market. However, Asia-Pacific is expected to witness rapid
growth during the forecast period. The growth of this market is mainly attributed to
the adoption of advanced technologies, such as cloud computing, artificial intelligence,
big data analytics, IoT, machine learning, and digital transformation. The related rise
in the use of new technological advancements and a surge in applications of cloudbased ERP in BFSI, government, and retail fields are majorly attributed to the large of
share this region. For instance, in 2017, Oracle launched a GST acquiescent ERP cloud
for India, which will help companies to prepare for the GST and the country’s
transformational tax reforms. Moreover, the necessity for crystalline and efficient
business processes in various industries is also anticipated to drive the growth of
cloud-based ERP software market, especially in Asia-Pacific region.
Key Players
The key players operating in the global cloud ERP market are Oracle Corporation (US),
SAP SE (Germany), Workday (US), Ramco Systems (India), IQMS (US), Rootstock
Software (US), Infor (US), Unit4 (Netherlands), Microsoft Corporation (US), Sage
Software (UK), Acumatica (US), Deltek (US), Plex Systems (US), and QAD Inc (US).
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