Cloud ERP Market – Overview
Flexibility in business operations is a key factor that has urged businesses to actively adapt and migrate to the cloud ERP system. Market Research Future, a firm which specializes in market reports related to the information and communication technology sector, among others, recently published a report on this market. The cloud ERP market is expected to earn USD 28 billion by 2022, at approx. 8 percent CAGR between 2016 and 2022.
Since business activities have become relatively decentralized due to the expansion of business organizations on a global scale, there has been a huge boost in the demand for cloud ERP systems. These systems have benefits; such as upfront costs for hardware and data servers, decreased dependence on IT support, maintenance costs; boosting the industry sales. Faster processing times and reduced work backlogs following the implementation of cloud ERPs have further motivated their growth.
Global Competitive Analysis
With the entry of new players; a trend of solid, volume-driven growth has been observed in the market, with the addition of new and advanced products. Companies are aiming to gain & solidify their shares by competing and experimenting with advantage points. The best long-term growth opportunity for this sector can be tapped by ensuring process improvements and investing flexibly in optimal strategies.
Prominent players in the worldwide cloud ERP market are Microsoft Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Infor (U.S.), and Ramco Systems (India). Few of the other notable players comprise Sage Group Plc. (U.K.), Netsuite Inc., among others.
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Latest Industry News:
Dec 2017 – ‘Velocity Technology Solutions’ has acquired fellow cloud-centric ‘MSP Mercury Technology Group,’ a key Oracle partner that boasts more than 100 enterprise customers across the U.S. and Europe. Financial terms were not disclosed. Velocity, best known for its Velocity Cloud Application Management Platform, is privately held and bills itself as the world’s largest pure-play cloud services provider (CSP). The company says that the addition of Mercury’s Oracle applications suite to its solutions will help expand its position.
Jan 2018 – ‘Rootstock Software,’ a leading cloud manufacturing and supply chain Enterprise Resource Planning (ERP) solution provider announced that ‘Mipox,’ a global producer of polishing films for the high-tech industry, has selected Rootstock to provide cloud ERP applications for over 400 users at 22 sites in 12 countries, including the company’s headquarters in Japan. Mipox selected Rootstock ERP to eliminate the disconnect between CRM and ERP, enabling the company to better serve their customers and increase the level of automation in manufacturing operations.
– ‘QAD Inc.,’ a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies, reported that Imperial Brands PLC will implement QAD Cloud ERP in 21 of its facilities. Headquartered at Bristol, United Kingdom, Imperial is the Dec 2017 parent company of an international business, specializing in tobacco and non-tobacco brands.
Jan 2018 – A supply chain management firm, ‘Iptor Supply Chain Systems’ has signed a deal with IBM to provide a range of cloud infrastructure and managed service offerings to Iptor’s existing and future customers. Iptor said the deal brings together a leading supply chain management vendor and a leading cloud services and infrastructure provider. This would not only allow Iptor to deliver pre-set cloud ERP offerings to its new customers, but also future proof existing customers by supporting the migration of those who do not currently operate in a cloud environment.
Dec 2017 – Enterprise technology giant, ‘Oracle’ announced its participation in a binding scheme of implementation deed to acquire Australian cloud services provider, ‘Aconex’ for AU$ 1.6 billion. The acquisition will take place via AU$ 7.8 per share to be paid in cash, which Oracle said is a 47 percent premium on Aconex’s closing price of AU$5.29 per share on December 15. The acquisition remains subject to examination by an independent expert and shareholder vote in late March.
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Industry Segments
The cloud ERP market is categorized on the basis of deployments, organization size, and verticals.
By Deployments: Public, private, and hybrid.
By Organization Size: Small & medium enterprises and large organizations.
By Verticals: Manufacturing, BFSI, healthcare, retail, government, aerospace & defense, and IT & telecommunications.
Detailed Regional Analysis
The Cloud ERP Market is divided into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). North America is predicted to have the largest shares and dominate the global market. This could be attributed to the presence of various cloud ERP vendors and early innovative-technology adopters across the U.S. and Canada. Asia-Pacific includes emerging economies; such as China, Japan, and India; which are rapidly transforming into business hubs with the regional expansion of global enterprises and emergence of multiple small and medium enterprises.
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