In a recent published report, Kenneth Research has updated the market report for Cloud ERP Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud ERP Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Cloud ERP Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Cloud ERP Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The market is driven by surging adoption of cloud based ERP solutions in education and retail along with growing adoption of cloud based services in healthcare industry. In addition to this the growing adoption of cloud based services in SMBs is also one of the main drivers of this market. Moreover the need for enabling on-demand access to computing and large storage facilities which are not provided in traditional IT environments is also facilitating adoption of cloud based services.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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In terms of segmentation, market is categorized on basis of Region, Deployment model, By Country, By Industry Verticals and By End Users. In terms of region, North America has the fastest adoption rate of cloud based services with maximum market share in United States, while APAC region has more growth opportunities accompanied with huge growth potential in the Australia and Japanese market
The cloud based ERP market grew at a CAGR 6.38 % in the period 2011-2015 and in the period 2016-2021, the growth rate is expected to be at 8.30%, according to the recent research report published by Azoth Analytics “Global Cloud ERP Market: Trends, Opportunities and Forecasts (2016-2021)”. Leading players of the industry include Ramco System , Netsuite Inc. ,Salesforce.com , QAD etc.
Scope of the Report
The report provides coverage by End-Users:
Small, Medium, Large Enterprises
The report provides coverage by Deployment:
Private, Public, Hybrid
The report provides coverage by Industry Verticals:
Manufacturing, Financial Services, Healthcare, Retail, Oil and Gas, Transportation
The report provides coverage by Region:
The report provides coverage by Country:
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•The objective of the research is to present the historical growth (2010-2015) and the future projections (2016-2021) of the global cloud ERP market (global, regional, country-specific).
•Historical market trend of Cloud ERP has been figured out through secondary research (associations, annual reports, magazines, journals) and by various paid databases.
•Extensive primary research was conducted and experts from the industry were interviewed for presenting the dynamics of the industry and future projections.
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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