Enterprise resource planning software is extensively used for back office operations such as accounting, production, inventory control and others.
The cloud ERP software provides large volume of data storage and easy access and management of all the processes. According to the report that has been published by Market Research Future (MRFR), the global Cloud ERP Market is registered to expand at a noteworthy CAGR of 8% during the forecast period of 2016-2022 and is anticipated to reach the valuation of USD 28 Bn by the end of the forecast period.
Major Key Players:
The prominent players profiled by MRFR in the report on the global cloud ERP market are Microsoft Corporation (the U.S.), Oracle Corporation (the U.S.), SAP SE (Germany), Infor (the U.S.), Ramco Systems (India), IBM Corporation (the U.S.), Sage Group Plc. (the U.K.), Netsuite Inc. (the U.S.), Totvs S.A. (Brazil), Syspro (South Africa) and others.
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Market Drivers and Restraints:
Increasing incorporation of cloud-based services in the growing organizations in order to manage and access large amount of data and multiple types of processes is majorly driving the growth of the global cloud enterprise resource planning (ERP) market. Rise in need for operational efficiency by streamlining business processes is inducing high demand for cloud ERP in SMEs and large enterprises, resulting in the expansion of the global cloud ERP market.
Increasing application of cloud ERP in various industrial sectors such as manufacturing, BFSI, aerospace and defense, and others are fueling the growth of the global cloud ERP market. However, availability of open source applications, concerns regarding data security and high implementation cost are likely to hamper the growth of the global cloud ERP market during the forecast period.
The global cloud ERP market has been segmented on the basis of deployment type, organization type and vertical. Based on deployment type, the cloud ERP market is segmented into public, private and hybrid. Based on organization type, the cloud ERP market is segmented into small and medium enterprises (SME) and large enterprises.
Based on vertical, the cloud ERP market is segmented into manufacturing, BSFI, healthcare, retail, government, aerospace and defense, IT and telecommunication and others. Among, these, the manufacturing industry vertical is anticipated to account for the largest market share in the global cloud ERP market during the forecast period.
Geographically, the global cloud ERP market is segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. The North America region is anticipated to project dominance over the global cloud ERP market owing to the increasing demand for cloud-based solutions and presence of large number of service providers of cloud ERP in this region.
The rapid transformation of emerging economies into business hubs in the Asia Pacific region is resulting in significant growth of cloud ERP market in this region. Increasing number of small to large enterprises is inducing high demand for cloud ERP in the rest of the world leading to the expansion of the global cloud ERP market.
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On 9th August 2018, Rootstock Software, a leading cloud enterprise resource planning (ERP) provider for manufacturing, distribution and supply chain organizations on Salesforce platform has announced today that the company is experiencing global customer growth for its Rootstock Cloud ERP solution which is a modern, flexible and connected ERP solution.
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