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According to a new report North America Cloud Enterprise Resource Planning (ERP) Market, published by KBV Research, the North America Cloud ERP is expected to attain a market size of $11.1 billion by 2022, growing at a CAGR of 7.2% during the forecast period.
The North American region would be largest revenue-generating region for cloud ERP solution vendors in 2016, followed by Europe. The market share is significant as most of the large market players are in the North American region, and also the region, with countries such as U.S. and Canada is the early adopter of disruptive technologies.
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.
The Operations market dominated the North America Cloud Enterprise Resource Planning (ERP) Market by Function in 2015, and would continue to be a dominant market till 2022; thereby, achieving a market value of $3,102.5 million by 2022, growing at a CAGR of 5.4% during the forecast period. The Finance market is expected to witness a CAGR of 8.6% during (2016-2022).
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the countries in each the region. The key influencing factors of the North America 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.