Kenneth Research, in its repository of market research reports, has recently added a report on Cloud ERP Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. 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.
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.
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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.
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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