Cloud ERP Market

Oracle (US), SAP (Germany) and Microsoft (US) adopted new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the Cloud ERP Market

The global cloud ERP market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period (2019–2024), to reach USD 37.7 billion by 2024 from USD 24.5 billion in 2019. A growing demand among enterprises to improve the operational efficiency and streamline the business processes and increased adoption of cloud-based solutions are expected to spur the demand for cloud ERP offerings across the globe.

The major cloud ERP vendors include Oracle (US), SAP (Germany), Microsoft (US), Infor (US), Unit4 (Netherlands), Workday (US), Sage Software (UK), Epicor (US), QAD Inc (US), Plex Systems (US), Acumatica (US), Deltek (US), Rootstock Software (US), IQMS (US), and Ramco Systems (India).

Major players in the market have implemented various growth strategies to expand their presence and market shares. Key players such as Oracle, SAP, and Microsoft have majorly adopted new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the cloud ERP market.

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Oracle (US) is one of the pioneers in the software and services industry with the company providing its services across the IT environment including application, platform, hardware, and services. Cloud ERP is a part of the company’s cloud and license business segment which has been the highest revenue contributor for the last 3 years with the segment contributing approximately 82% to the company’s overall revenues in 2018. Oracle has a strong customer base with more than 430,000 customers and has a global footprint with offices in 175 countries across 5 continents. Recently, Oracle enhanced its NetSuite portfolio with the addition of planning and budgeting service. The new service would be integrated with NetSuite, enabling enterprises to analyze performance in real-time. In April 2019, Oracle integrates Artificial Intelligence (AI) with its cloud ERP offering. These new capabilities include expense reporting assistant, project management digital assistant, advanced financial controls and project-driven supply chain management. These smart and intelligent assistant helps the enterprises to take better decision depend on the data.

Microsoft (US) is one of the leading technology company, founded in 1975. The company provides software, licenses and support services for wide variety of enterprises operating across the globe. Microsoft reports in revenue in 3 business segments: productivity and business processes, intelligent cloud, and more personal computing. The company recorded a strong growth rate (about 14%) in the last year. Cloud ERP is a part of the company’s intelligent cloud portfolio, along with other products, such as public, private, and hybrid server products. Microsoft has more than 190 offices around the globe with customers spread across North America, Europe, APAC, MEA, and Latin America. Microsoft is focusing on expanding its customer base by offering solutions in untapped market. For instance, in March 2018 Microsoft launched Tenerife an ERP offering specifically designed for small and midsize businesses (SMBs). This new offering will help the Microsoft to improve its customer base.

Related Reports:

Cloud ERP Market by Component (Solution and Services), Business Function (Accounting and Finance, Sales and Marketing, Inventory and Order Management, and Human Capital Management), Vertical, Organization Size, and Region - Global Forecast to 2024

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Report Code
TC 4798
RI Published ON
4/25/2019
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