At 17.2% CAGR, Middle East & Africa Cloud ERP Market is Projected to be Worth US$ 7,507.12 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa cloud ERP market was valued at US$ 2,102.57 million in 2022 and is expected to reach US$ 7,507.12 million by 2030, registering a CAGR of 17.2% from 2022 to 2030. Rising adoption of cloud ERP solutions across various verticals and increasing organizational needs to improve staff productivity and efficiency are among the critical factors attributed to the Middle East & Africa cloud ERP market expansion.

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.

On the contrary, availability of limited customized options for SaaS ERP solutions hampers the growth of Middle East & Africa cloud ERP market.

Based on business function, the Middle East & Africa 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 36.5% share of Middle East & Africa cloud ERP market in 2022, amassing US$ 767.51 million. It is projected to garner US$ 2,966.22 million by 2030 to expand at 18.4% CAGR during 2022-2030.

In terms of organization size, the Middle East & Africa cloud ERP market is bifurcated into large enterprises and SMEs. The large enterprises segment held 66.1% share of Middle East & Africa cloud ERP market in 2022, amassing US$ 1,390.29 million. It is projected to garner US$ 4,806.03 million by 2030 to expand at 16.8% CAGR during 2022-2030.

By vertical, the Middle East & Africa cloud ERP market is segmented into manufacturing, IT and telecom, BFSI, healthcare, retail, government, aerospace and defense, and others. The manufacturing segment held 22.7% share of Middle East & Africa cloud ERP market in 2022, amassing US$ 477.52 million. It is projected to garner US$ 1,753.95 million by 2030 to expand at 17.7% CAGR during 2022-2030.

Based on country, the Middle East & Africa cloud ERP market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 38.6% share of Middle East & Africa cloud ERP market in 2022. It was assessed at US$ 812.01 million in 2022 and is likely to hit US$ 2,934.22 million by 2030, exhibiting a CAGR of 17.4% during 2022-2030.

Key players operating in the Middle East & Africa cloud ERP market are Epicor Software Corp, Infor Inc, Microsoft Corp, Oracle Corp, Sage Group Plc, SAP SE, SYSPRO Proprietary Ltd, Unit4 Group Holding BV, and Workday Inc, among others.

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