Cloud ERP Market to surpass USD 93.8 billion in 2030, at a CAGR of 11.2%

In the latest report published by Intent Market Research, the Cloud ERP Market stood at USD 44.6 billion in 2023-e and projected to grow at a CAGR of 11.2% through 2030 to reach USD 93.8 billion.

The greater emphasis on streamlining enterprise operations is driving the cloud ERP market. Cloud ERP solutions are designed to integrate and optimize various business processes, providing a unified platform for managing and automating core functions across an organization. Cloud ERP integrates various business processes such as finance, human resources, supply chain, and customer relationship management into a centralized platform. This integration ensures data consistency and real-time collaboration across departments.

Cloud ERP automates routine tasks such as data entry, order processing, and financial transactions. This automation improves efficiency, reduces the risk of errors, and allows employees to focus on more strategic activities. Cloud ERP systems offer real-time visibility into various aspects of business operations. Decision-makers can access accurate and up-to-date reports, dashboards, and analytics, enabling them to respond quickly to changing conditions.

Cloud ERP for sales & marketing is poised to show substantial growth in the coming years. Implementing cloud ERP solutions for sales & marketing offers several advantages, enabling organizations to streamline processes, enhance collaboration, and make data-driven decisions. Sales & marketing teams have access to a comprehensive view of customer interactions, purchase history, and preferences, enabling personalized engagement and targeted marketing campaigns.

Additionally, sales & marketing teams can access up-to-date insights into performance metrics, campaign effectiveness, and sales forecasts. This data-driven approach supports informed decision-making. By leveraging cloud ERP for sales & marketing, organizations can create a more efficient, collaborative, and data-driven environment. This not only improves the effectiveness of sales & marketing strategies but also contributes to overall business success and customer satisfaction.

North America is home to many technology-driven businesses and enterprises that are early adopters of advanced technologies. Cloud ERP solutions, often incorporating emerging technologies such as AI, machine learning, and analytics, align well with the innovation-focused culture in the region.

North America is characterized by a diverse range of industries, including technology, manufacturing, healthcare, finance, and services. Cloud ERP solutions are adaptable to the specific needs and workflows of different industries, contributing to widespread adoption. The region is estimated to record the largest share of the market in 2023.

Major players operating in the global cloud ERP market are AWS, IFS, Infor, Microsoft, Oracle, Salesforce, SAP, Unit4, Workday, and Zoho, among others. Additionally, Acumatica, Brightpearl, Dassault systemes, Dolibarr, ECI Software, Epicor, Odoo, QAD, Sage, and Xero are the emerging companies in the market.

These players are adopting organic and inorganic strategies to expand their business. Some of the important developments in the recent past are mentioned below

• In September 2023, SAP and Microsoft partnered to deliver RISE with SAP to customers across multiple global markets, including Africa. RISE with SAP is a complete offering of ERP software, industry best practices, and outcome-driven services designed to help companies migrate their core SAP ERP to the cloud, utilizing the cloud hosting capabilities of hyper-scalers such as Microsoft.
• In March 2023, SAP launches cloud ERP offering for midsize companies. With this launch, the SMEs are expected to get several benefits of cloud ERP solutions offered by SAP.