LONDON, March 15, 2017 /PRNewswire/ -- "Increasing need for business process efficiency and transparency will drive the cloud ERP market"The cloud Enterprise Resource Planning (ERP) market size is estimated to grow from USD 18.52 billion in 2016 to USD 29.84 billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 10.0%. The cloud ERP market is driven by factors, such as, increasing need for creating efficiency across the enterprise and elimination of inefficient processes & data redundancy, along with a rising demand for ERP solutions and services from Small and Medium Enterprises (SMEs). However, increased operational costs and availability of open source cloud ERP solutions limit the growth of the market.
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"The managed services segment is expected to grow at the highest CAGR during the forecast period" Organizations are rapidly growing their partnership networks to deploy such cloud ERP solutions across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, the professional services segment is expected to have the largest market size in 2016.
"The finance function segment is expected to grow at the highest CAGR during the forecast period" The finance cloud ERP function segment is estimated to grow at the highest CAGR during the forecast period, due to the increased adoption of such solutions & services in financial accounting, assets management, investments, and cash flow management activities. The operations ERP function segment will have the largest market size in 2016, owing to an increasing demand from manufacturing and related end-users.
"Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period"APAC includes emergng economies, such as China, Japan, and India, along with countries from the South East Asia, which are rapidly transforming into business hubs with the regional expansion of global enterprises and the emergence of large number of SMEs. APAC is expected to grow at the highest CAGR during the forecast period. This is primarily due to increasing awarness and adoption of such solutions and services amongst enterprises, operating across various industry verticals in the region. Furthermore, North America is expected to have the largest market size in 2016.
In-depth interviews were conducted with CEOs, marketing directors, other innovation & technology directors, and executives from various key organizations operating in the cloud ERP market place.
- By company type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%- By designation: C-Level: 60%, D-Level: 25%, and others: 15%- By region: North America: 15%, Europe: 25%, APAC: 30%, Latin America: 20%, and MEA: 10%
The report includes the study of key players offering cloud ERP solutions, such as, Microsoft Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Infor (U.S.), Sage Software, Inc. (U.K.), Epicor Software Corporation (U.S.), Intacct Corporation (U.S.), Financialforce.com (U.S.), Plex Systems, Inc. (U.S.), and Ramco Systems (India).
Research Coverage The report provides a picture on cloud ERP solutions and associated services across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as component, function, deployment mode, organization size, vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the ReportThe report will help the market leaders/new entrants in this market, by providing them with the closest approximations of the revenue numbers for the overall cloud ERP market and subsegments. This report will help stakeholders to better understand the competitor landscape, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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