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According to a new report, Global Cloud Enterprise Resource Planning (ERP) Market, published by KBV Research, the global Cloud Enterprise Resource Planning (ERP) is expected to attain a market size of $28.8 billion by 2022, growing at a CAGR of 8.6% during the forecast period.
The major factors driving the growth of the Cloud Enterprise Resource Planning (ERP) market are raising adoption of cloud infrastructure and mobile applications, and rapidly growing demand from Small & Medium Enterprises (SMEs), largely due to the increasing need optimize business process efficiency and transparency.
The cloud ERP market is segmented based on components, functions, deployment modes, organization size, verticals, and region. Within the components, the solution component holds the maximum market share in 2016. The service segment on the other hand would grow at the highest CAGR during the forecast period. The rapidly growing adoption of cloud ERP within the large enterprises and SMEs from diverse industry verticals for such hosted ERP solutions & services has significantly contributed to the growth of the cloud ERP market. In addition, favorable government policies on implementation of IT infrastructure across enterprises would have significant impact on the market growth. 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 globe with country wise analysis in each discussed region. The key influencing factors of the Global Cloud Enterprise Resource Planning (ERP) Market 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.
LAMEA Cloud ERP Market