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 from USD 45,302 million in 2020 to USD 101,132 million by 2025, at a Compound Annual Growth Rate (CAGR) of 17.4% during the forecast period. The major factors driving the growth of the cloud ERP market include    growing demand among enterprises to improve operational efficiency and streamline business processes, the impact of COVID-19 pandemic, and increasing adoption of cloud-based solutions

Majorcloud ERPvendors includeOracle (US), Microsoft (US), SAP (Germany), IFS (Sweden), Infor (US), Sage Software (UK), Workday (US), Plex System (US), Ramco System (India), Epicor (US), Acumatica (US), Deltek (US), Unit 4 (Europe), SYSPRO (South Africa), QAD Inc (US), IQMS (US), MIE Track Pro (US), Genius Solutions (Canada), OpenPro (US), Global Shop Solutions (US).These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the cloud ERPmarket. Product enhancementsand collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.

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IFSis one of the leading playersin thecloud ERPmarket. Currently, IFSis working toward enhancing its market share and presence with the help of inorganic and organic growth strategies, such as acquisition, partnership, and product enhancements. For instance, in June2019,IFS partnered with Acumatica. It can benefit from accessing one another’s resources, capabilities, and strategies provided by them, but still enjoy full autonomy and rapid growth trajectories while avoiding disruptions to business operations or brand equity.

ServiceMaxis a growing player in the cloud ERP market.The company is focusing on organic and inorganic growth strategies to improveits position in the cloud ERPindustry. For instance, in October 2018,Sage Software added capabilities to its Sage Intacct portfolio by adding innovations directed toward specific industry verticals. The innovations include Sage Intacct revenue recognition for nonprofit organizations, such as Sage Intacct billing workbench, for software and technology companies.

Related Reports:

Cloud ERP Market by Component (Solution and Services), Business Function (Accounting and Finance, Sales and Marketing, and Inventory and Order Management), Industry Vertical, Organization Size, and Region - Global Forecast to 2025

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