North America Cloud ERP Market Forecast to 2030 - Regional Analysis - by Business Function, Organization Size, and Vertical

The North America cloud ERP market is expected to grow from US$ 9.39 billion in 2022 to US$ 35.80 billion by 2030. It is estimated to record a CAGR of 18.2% from 2022 to 2030.

Increasing Organizational Needs to Improve Staff Productivity and Efficiency Fuel North America Cloud ERP Market

Businesses are continuously seeking ways to boost their output and effectiveness in the current fast-paced, intensely competitive commercial landscape. Cloud-based enterprise resource planning (ERP) systems have garnered significant attention as they assist in business growth, collaborations, and effective operations. Cloud ERP offers a variety of benefits over traditional on-premise systems. Cloud-based systems are accessible from anywhere with an Internet connection. This means that employees can retrieve critical business collaboration data and perform tasks remotely. For example, sales representatives can access real-time inventory data while on the go, which allows them to execute timely customer interactions. Cloud ERP provides real-time data updates and analytics, which can be utilized to make informed decisions. For example, using data obtained from cloud ERP systems, managers can monitor inventory levels and demand in real time, allowing for proactive restocking and optimized production schedules. Cloud ERP includes collaboration tools, which improve teamwork and coordination. For example, a cloud ERP system facilitates project management and collaboration among remote teams, streamlining project workflows and reducing errors. Further, cloud ERP can reduce operational costs by automating processes and reducing the need for on-premise infrastructure. According to the study of Nucleus Research, the return on investment (ROI) generated by cloud ERP is 3.2 times higher than the ROI conferred by on-premises ERP. Cloud ERP systems can be easily scaled up or down according to business needs. This flexibility is essential for organizations that experience fluctuations in demand. For example, upon implementation of a cloud ERP system, an e-commerce company can handle increased order volumes during the holiday season without investing in new infrastructure. Thus, an increasing organizational requirement to improve staff productivity and efficiency bolsters the demand for cloud ERP systems.

North America Cloud ERP Market Overview

Technological changes have a substantial impact on the North American economy. All developed countries in North America have a significant focus on creating technological innovations. The US economy depends on technology substantially. As a result, many states have started major initiatives to ignite innovation and empower entrepreneurs. The most frequently mentioned technologies are the internet of things (IoT), big data analytics, mobility, artificial intelligence (AI), digital media, biotechnology, telemedicine, and cloud computing. Various companies in North America are deploying new cloud-based software. For instance, in April 2023, SAP SE announced that the Greater Austin Merchants Cooperative Association (GAMA) selected SAP S/4HANA Cloud, which is a public edition to help future-proof the organization and support its business transformation. With SAP S/4HANA Cloud, public edition, the company is helping midsize businesses harness the proven benefits of cloud ERP with built-in industry best practices. Also, in September 2022, NetSuite, at its SuiteWorld conference, announced a wide variety of tools across its ERP suite to optimize business processes. NetSuite added a host of new applications and features to its cloud-based NetSuite ERP suite to enhance its automation capabilities and compete with midmarket rivals such as Epicor, IFS, and Microsoft Dynamics. The new capabilities were announced at the company's annual SuiteWorld conference in Las Vegas. Further, in March 2023, SAP launched its new public cloud enterprise resource planning (ERP) offering, which is designed to help midsize companies move to the cloud more quickly than ever before. Therefore, such instances show that the demand for cloud ERP software is increasing in North America.

North America Cloud ERP Market Segmentation

The North America cloud ERP market is segmented into business function, organization size, vertical, and country.

Based on business function, the North America cloud ERP market is segmented into finance and accounting, sales and marketing, inventory and order management, human capital management, and others. The finance and accounting segment held the largest share of the North America cloud ERP market in 2022.

In terms of organization size, the North America cloud ERP market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the North America cloud ERP market in 2022.

By vertical, the North America cloud ERP market is segmented into manufacturing, IT and telecom, BFSI, healthcare, retail, government, aerospace and defense, and others. The manufacturing segment held the largest share of the North America cloud ERP market in 2022.

Based on country, the North America cloud ERP market is segmented into the US, Canada, and Mexico. The US dominated the North America cloud ERP market in 2022.

ACUMATICA, INC; Epicor Software Corp; Infor Inc; Microsoft Corp; Oracle Corp; Sage Group Plc; SAP SE; SYSPRO Proprietary Ltd; Unit4 Group Holding BV; and Workday Inc are some of the leading companies operating in the North America cloud ERP market.