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According to a new report Europe Cloud Enterprise Resource Planning (ERP) Market, published by KBV Research, the Europe Cloud Enterprise Resource Planning (ERP) Market is expected to grow at a CAGR of 7.7% during the forecast period.
Cloud ERP has proved to be a boon in multiple ways. The technology implementation reduces cost as all computing infrastructure such as hardware and data servers are off-site. The need for IT support services is also minimal. Upfront for application software licenses, cost of maintaining and supporting those applications would all fall within a small budget, since the cloud vendor handles the updates and upgrades.
The Germany market dominated the Europe Cloud Enterprise Resource Planning (ERP) Market in BFSI Market by Country in 2015, and would continue to be a dominant market till 2022; thereby, achieving a market value of $315.8 million by 2022, growing at a CAGR of 4.3% during the forecast period. The UK market is expected to witness a CAGR of 3.6% during (2016 - 2022). Additionally, The France market is expected to witness a CAGR of 6.2% during (2016 - 2022).
Within the function segment, the finance function segment would be the fastest growing segment with the highest CAGR during the forecast period. Efficient and reliable management of various financial activities such as accounting, assets management, investments, and cash flow management are the major factors that would drive the demand for the function segment during the forecast period. The operations function segment is the largest segment with maximum market share of cloud ERP market in 2016, due to significant demand for such solutions across business operations processes from various industry verticals.
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the countries in the region. The key influencing factors of the Europe Cloud ERP have been discussed in the report along with the elaborated company profiles of IBM Corporation, Microsoft Corporation, HP Enterprise Company, Oracle Corporation, SAP SE, CA, Inc., Salesforce.com, Inc., Epicor Software Corporation and VMware, Inc.
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