“The Cloud ERP Market is in a growing stage where it is witnessing
many vendors trying to create a cloud ecosystem and strategic collaborations to
reach out to the SMEs in Indian market, and the market revenue is estimated to
reach $97.8 million by 2015.” As the Indian market is expecting a high growth
in industrial and infrastructure sector in the next five years, major vendors
are looking to strengthen their partner base in this region.
Manufacturing industry vertical is the major contributor to the cloud ERP market in India. The ‘Make in India’ initiative by the Indian government is a big boost to this sector. It contributes nearly 24.1% of the total cloud ERP market in India. In addition, most of the cloud ERP in manufacturing vertical is driven by the growth of SMEs and adoption of cloud ERP by them. It contributes nearly 69.3% to the total cloud ERP market in manufacturing.
“Large and small players will continue to increase their vertical expertise in ERP industry. They will also try to increase the number of partners in India to maximize their reach and forge partnerships to increase their product portfolio.”
The cloud ERP considerably reduces the required investments in the alternative IT resources and offers great flexibility. Feature of accessing ERP from smartphones and tablets would increase the adoption of cloud ERP and become more competitive.
- It is estimated that by 2020, the manufacturing vertical will contribute the most among other verticals and the market is expected to grow at a CAGR of 19.4% from 2015 to 2020.
- Private cloud ERP market has the highest market share with 70.0% of the overall cloud ERP market, but hybrid cloud ERP has a higher growth prospects and the market is expected to grow at a CAGR of 62.1%% from 2015 to 2020.
- The SME market is mostly driven by the private cloud deployment mode and the market is expected to grow at a CAGR of 20.3% from 2015 to 2020.0.
- SME segment has a higher growth rate than large enterprises in implementing ERP through partners and the market is expected to grow at a CAGR of 30.8% from 2015 to 2020.