Cloud ERP Market is expected to reach US$ 108.17 billion by 2030

Increasing Government Initiatives for Digitalization of SMEs Provides Opportunities for Cloud ERP Market During 2022–2030

According to our latest market study on "Cloud ERP Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Business Function, Organization Size, and Vertical," the market was valued at US$ 27.59 billion in 2022 and is expected to reach US$ 108.17 billion by 2030; it is estimated to record a CAGR of 18.6% from 2022 to 2030.

Increasing government initiatives to promote digitization in small and medium-sized enterprises (SMEs) presents a substantial opportunity for the cloud ERP market. Governments of various countries offer financial incentives, grants, or subsidies to SMEs that invest in digital solutions, including cloud ERP systems. These incentives can offset the initial costs of adoption. For example, in 2021, the US Small Business Administration (SBA) launched the Community Navigator Pilot Program, allocating funds to help SMEs access technology and digital tools, such as cloud ERP, to improve their operations. Governments are taking initiatives to make SMEs aware of the benefits of digital transformation, emphasizing cloud ERP adoption. For instance, the European Union's "Digital Europe" program aims to promote the digital transformation of European businesses, including SMEs, by providing access to digital tools and services. Adopting cloud ERP systems allows SMEs to enhance their operational efficiencies, reduce costs, and gain a competitive edge. Also, the European government is supporting the acceleration of their ability to innovate and compete on a global scale. The "Industry 4.0" initiative in Germany encourages SMEs to embrace digital transformation, including cloud ERP adoption, to stay competitive in advanced manufacturing. Government initiatives play an essential role in creating a conducive environment for SMEs to embrace digital technologies, including cloud ERP. These programs offer financial support, educational resources, and industry-specific guidance to increase the adoption of cloud ERP solutions among SMEs. Thus, government initiatives for the digitalization of SMEs are creating opportunities for the cloud ERP market growth. 

Cloud ERP Market — by Geography, 2022

Source: The Insight Partners Analysis

Acumatica Inc, Infor Inc, Microsoft Corp, Oracle Corp, Sage Group Plc, SAP SE, Workday Inc, SYSPRO Proprietary Ltd, Epicor Software Corp, and Unit4 Group Holding BV are among the key cloud ERP market players profiled in the report. Several other major cloud ERP market players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The cloud ERP market report provides detailed market insights, which help the key players strategize their growth.

In Canada, various players operating in the market are expanding their presence by doing a strategic partnership. For instance, in April 2023, Microsoft distributor Companial expanded its Dynamics-focused services to Canada, establishing a new office in Toronto. The company aimed to engage with partners in the country on their ERP cloud migration projects. Further, in September 2021, Unit4 Cloud ERP Platform was selected to deliver operational transformation for Public School Districts in Canada. Unit4 announced that Simcoe Muskoka Catholic District School Board and Durham Catholic District School Board both selected FP&A and Unit4 ERP solutions for use by the human resources, ICT, facilities, custodial, payroll, academic, school administrators, planning departments, and finance as part of a strategic 10-year agreement to extend for next five years. Hence, such instances show that the demand for cloud ERP software is increasing by expanding companies' presence, fueling the cloud ERP market growth.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com