Cloud ERP Market To Grow To $28 Bn By 2028 At A CAGR Of 5.1%: Report
The growth of market size will be augmented by the rising use of cloud-based solutions and the growing need among businesses to increase operational efficiency and optimise corporate processes
The global Cloud ERP market size is projected to reach USD 28.3 billion by 2028, from USD 19.9 billion in 2021, at a CAGR of 5.1 per cent between 2022 and 2028.
A report by Valuates says that the Cloud ERP market size is set to grow at a CAGR of over 5 per cent between 2022 and 2028. The market size is set to grow to USD 28.3 billion by 2028 from USD 19.9 billion in 2021.
The growth of market size will be augmented by the rising use of cloud-based solutions and the growing need among businesses to increase operational efficiency and optimise corporate processes.
“Businesses all around the world are concentrating on streamlining their administrative procedures to increase operational effectiveness and control operating costs”, said the report.
Image Credit: Valuates
Between 2022 and 2028, North America is expected to account for the biggest market size throughout.
Some of the major companies in the space are SAP, Oracle, Microsoft, Infor, Sage Software, Ramco Systems, Financialforce.Com, Financialforce.Com.