Report ID: SQMIG45F2151
Report ID:
SQMIG45F2151 |
Region:
Global |
Published Date: September, 2024
Pages:
191
|
Tables:
91 |
Figures:
71
Global Cloud ERP Market size was valued at around USD 64.12 Billion in 2022 and is expected to rise from USD 72.2 billion in 2023 to reach a value of USD 186.57 billion by 2031, at a CAGR of 12.6% over the forecast period (2024–2031).
Businesses employ enterprise resource planning (ERP) technologies to help them manage their operations and procedures more effectively. The business activities of an ERP solution nowadays range from basic planning and assistance tasks to full business process integration, which includes critical tasks like hiring and decision-making. Essentially, an ERP package consists of countless software components, each of which is meant to perform a certain function within the business, such as purchasing materials, managing stock, books, money, or people and so on. These components are adjustable to fit the needs of the organization.
There is an increasing need for operational effectiveness and clarity in corporate processes, which is fuelling the demand for more ERP software from small and medium-sized enterprises, hence contributing to the growth of the global market. Furthermore, the favorable expansion of the market is attributed to the increased availability and use of mobile as well as cloud applications. The market for ERP software is growing, but it is hampered by the availability of open-source ERP solutions and the high cost of ERP software implementation. On the other hand, throughout the projected period, the growing use of ERP solutions in small and medium-sized businesses and the quick change of contemporary business models are anticipated to present lucrative prospects for the growth of the enterprise resource planning market.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45F2151