Cloud ERP Market to grow by USD 15,379.75 million from 2022 to 2027|Increasing demand for process automation and digital transformation drives the market – Technavio

NEW YORK, Aug. 1, 2023 /PRNewswire/ — The cloud ERP market size is estimated to grow by USD 15,379.75 million from 2022 to 2027, at a CAGR of 10.02% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The increasing demand for process automation and digital transformation is notably driving the cloud ERP market growth. It supports enterprises to digitize core business processes and eliminates the requirement for manual intervention in highly complex and repetitive procedures. Further, it expands operational efficiency, enables to delivery of personalized customer experiences, and decreases time-to-market, chances of error, and operational costs. Thus, enterprises like BFSI, retail, and manufacturing are executing BPMaaS solutions to automate internal and external processes, growing demand for the Cloud enterprise resource planning (ERP) market. Nevertheless, these benefits of BPMaaS can be additionally augmented by integrating other technologies like BPM, RPA, and AI, generally known as intelligent automation. Also, it helps in making intelligent, automated, real-time data-driven decisions by usage of AI and analytics which enhances flexibility at every stage of the process. As a result, vendors in this space are increasingly delivering BPM services integrated with AI and RPA. Consequently, […]

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