The cloud ERP market size is expected to grow from USD 72.2 billion in 2023 to USD 130.5 billion by 2028 at a compound annual growth rate (CAGR) of 12.6% during the forecast period. Cloud ERP is a modern and dynamic approach to managing essential business processes and data through cloud-based software solutions. Unlike traditional on-premises ERP systems, which require substantial hardware and infrastructure investments, cloud ERP leverages the power of the cloud to deliver software as a service (SaaS). Cloud ERP systems are accessible from anywhere with an internet connection. This remote accessibility is essential in today's globalized and increasingly remote work environment. It allows employees to access critical business data and applications, collaborate, and make informed decisions from anywhere in the world; such factors are helping the market to grow rapidly.
Cloud ERP systems offer several key advantages, making them increasingly popular among businesses of all sizes and across various industries. One of the primary benefits is scalability. Cloud ERP solutions are highly adaptable, enabling organizations to adjust their resources and capabilities according to their evolving needs. This is particularly advantageous for small and mid-sized companies that may start with a more limited system and then seamlessly expand their ERP capabilities as they grow and their requirements change. The cloud-based nature of these systems allows for easy scaling up or down, ensuring that a business's ERP investment remains in sync with its operations.
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Major vendors in this market are based in North America and Europe are Oracle (US), Microsoft (US), SAP (Germany), Workday (US), Infor (US), IFS (Sweden), Plex Systems (US), Epicor Software Corporation (US), Sage Group (UK), QAD (US), Odoo (Belgium), Tyler Technologies (US), MIE Solutions (US), Acumatica (US), Genius Solutions (Canada), Deltek (US), Vienna Advantage (Germany), OpenPro (US), Dassault Systemes (US) are among a few leading players operating in the cloud ERP market. These vendors can concentrate on forming new connections and partnerships. Key players have adopted various strategies such as new product launches, contracts, partnerships, and mergers & acquisitions to strengthen market dominance.
In the cloud ERP market, Dassault Systemes provides the DELMIAWorks ERP system with a tailored solution for the factory’s environment to streamline sales, order processing, finance, human resources, planning, production, inventory, procurement, and more. It becomes the backbone for visibility, execution, and communication of manufacturing activities and data throughout the supply chain. The company also caters to the 3DEXPERIENCE platform, a collaborative and integrated environment that allows companies to design, simulate, and manage their products and processes in a virtual 3D environment. This platform covers various applications, from product design and engineering to simulation and manufacturing.
Plex Systems makes software that connects, automates, tracks and analyzes manufacturing operations to help clients build the products of the future today. Besides ERP solutions, Plex also offers Supply Chain Planning (SCP), Quality Management System (QMS), Manufacturing Execution System (MES), and Asset Performance Management (APM). Rockwell Automation acquired Plex in September 2021.
Plex Systems provides cloud-based manufacturing ERP software. It offers business management products, including accounting and financials, customers and sales, enterprise management, HCM, suppliers and purchasing, manufacturing operation products for planning and scheduling, inventory management, production management, quality management, and MES products. Plex Manufacturing Cloud is one of the ERP solutions that majorly helps manufacturers. As a result, customers witness complete visibility in their operations and plant data and can leverage those details to increase profits.
Cloud ERP Market by Component (Solutions, Services), Business Function (Finance & Accounting, Sales & Marketing, Operations), Deployment Mode (Public Cloud, Private Cloud), Organization Size, Vertical and Region - Global Forecast to 2028
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