South & Central America Cloud ERP Market Forecast to 2030
South & Central America Cloud ERP Market Forecast to 2030 – Regional Analysis – by Business Function (Finance and Accounting, Sales and Marketing, Inventory and Order Management, Human Capital Management, and Others), Organization Size (Large Enterprises and SMEs), and Vertical (Manufacturing, IT and Telecom, BFSI, Healthcare, Retail, Government, Aerospace and Defense, and Others)
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Description
Increasing Government Initiatives for Digitalization of SMEs Fuel South & Central America Cloud ERP Market
Increasing government initiatives to promote digitization in small and medium-sized enterprises (SMEs) presents a substantial opportunity for the cloud ERP market. Governments of various countries offer financial incentives, grants, or subsidies to SMEs that invest in digital solutions, including cloud ERP systems. These incentives can offset the initial costs of adoption. The Brazilian government has taken several initiatives to support the digitalization of MSMEs, such as the Brazil Mais program. Further, in May 2023, the Pilot Programme for the Digital Transformation of Argentine MSMEs was announced by the Secretariat of Industry and Productive Development of Argentina. A US$ 130 million loan from the Central American Bank for Economic Integration (CABEI) will co-finance the program. In order to support technical assistance initiatives pertaining to innovation, technological development, and digital transformation, it will give cash grants to industrial microenterprises and SMEs. Government initiatives play an essential role in creating a conducive environment for SMEs to embrace digital technologies, including cloud ERP. These programs offer financial support, educational resources, and industry-specific guidance to increase the adoption of cloud ERP solutions among SMEs. Thus, government initiatives for the digitalization of SMEs are creating opportunities for the growth of the cloud ERP market.
South & Central America Cloud ERP Market Overview
The South & Central America cloud ERP market is segmented into the Brazil, Argentina, and the Rest of South & Central America. In SAM, cloud ERP software is used in the banking sector to improve budget execution, supplier management, and payment processes. In Colombia, the banking industry players are using the cloud ERP for insight and control over budget execution, supplier management, and payments. For instance, in May 2021, Colombia’s Banco Agrario public bank moved to Oracle Cloud ERP for insight and control over budget execution, supplier management, and payments.
The increasing digitalization in the banking sector of SAM is accelerating the growth of cloud ERP. In May 2022, according to the Bank of America, digital banking was booming across Brazilian banks such as Nubank, PagBank, Mercado Pago, Ame Digital and Banco Pan. In SAM, cloud ERP software is used in the banking sector to improve budget execution, supplier management, and payment processes. In Colombia, the banking industry players are using the cloud ERP for insight and control over budget execution, supplier management, and payments. For instance, in May 2021, Colombia’s Banco Agrario public bank moved to Oracle Cloud ERP for insight and control over budget execution, supplier management, and payments. Banco Agrario chose Oracle Fusion Cloud ERP to provide the integrated consistency across functions that it was looking for while also optimizing its operations. By using Oracle Cloud ERP, Banco Agrario has seen a huge improvement in the traceability of information. Thus, such type of deployment is helping to accelerate the adoption of cloud ERP software in the banking sector of Colombia.
The companies operating in the cloud EPR market are expanding their presence in South & Central America to start the transformation of their financial management. For instance, in April 2022, SAP SE announced N+ chose its public cloud solution to start the transformation of its financial management. Silver producer Grupo Minero Bacis also acquired ERP and analytics cloud solutions to modernize its business process. The public cloud allows SAP to offer more affordable and flexible versions of ERP software, enabling the company to target small and medium-sized companies in Chile, Colombia, Brazil, and Argentina. Such a type of business development is helping to boost the adoption of cloud ERP in SAM.
South & Central America Cloud ERP Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Cloud ERP Market Segmentation
The South & Central America cloud ERP market is segmented into business function, organization size, vertical, and country.
Based on business function, the South & Central 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 South & Central America cloud ERP market in 2022.
In terms of organization size, the South & Central America cloud ERP market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the South & Central America cloud ERP market in 2022.
By vertical, the South & Central 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 South & Central America cloud ERP market in 2022.
Based on country, the South & Central America cloud ERP market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America cloud ERP market in 2022.
Epicor Software Corp, Infor Inc, Microsoft Corp, Oracle Corp, Sage Group Plc, SAP SE, and Unit4 Group Holding BV are some of the leading companies operating in the South & Central America cloud ERP market.
Summary Info
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According to the Research Team’ research, the South & Central America cloud ERP market was valued at US$ 1,492.77 million in 2022 and is expected to reach US$ 5,029.99 million by 2030, registering a CAGR of 16.4% from 2022 to 2030. Rising adoption of cloud ERP solutions across various verticals and technological advancements are among the critical factors attributed to the South & Central America cloud ERP market expansion.
The reach of ERP solutions has expanded from traditional solutions to support most business functions and manufacturing to front-office functions such as marketing automation, sales force automation (SFA), and e-commerce. ERP systems with integrated artificial intelligence and machine learning capabilities assist in fulfilling the growing need for personalization and enhance a variety of business operations in the background. In the past, businesses could add AI functionality to select ERP systems, but manufacturers are now offering ERP software products that are already embedded with AI features. Organizations rely on AI to deliver insightful business decisions based on the vast amounts of operational and customer data they collect. AI technologies can scan large volumes of unstructured data, swiftly recognizing patterns and forecasting different trends that are impossible to detect with processing numerical data alone. AI helps to improve and automate a whole range of processes. For instance, a just-in-time inventory strategy is implemented with the intent to deliver components to minimize inventory carrying costs. AI, in the form of ML, can optimize labor schedules and supply delivery to increase productivity and lower costs. IFS’s Global Enterprise Software Solution Provider study found that 40% of manufacturers planned to implement AI for inventory logistics and planning, and 36% intended to use it for customer relationship management and production scheduling. Therefore, technological advancements are likely to bring new trends into the cloud ERP market in the coming years.
On the contrary, availability of limited customized options for SaaS ERP solutions hampers the growth of South & Central America cloud ERP market.
Based on business function, the South & Central 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 32.1% share of South & Central America cloud ERP market in 2022, amassing US$ 478.83 million. It is projected to garner US$ 1,749.22 million by 2030 to expand at 17.6% CAGR during 2022-2030.
In terms of organization size, the South & Central America cloud ERP market is bifurcated into large enterprises and SMEs. The large enterprises segment held 67.7% share of South & Central America cloud ERP market in 2022, amassing US$ 1,010.68 million. It is projected to garner US$ 3,297.99 million by 2030 to expand at 15.9% CAGR during 2022-2030.
By vertical, the South & Central America cloud ERP market is segmented into manufacturing, IT and telecom, BFSI, healthcare, retail, government, aerospace and defense, and others. The manufacturing segment held 27.7% share of South & Central America cloud ERP market in 2022, amassing US$ 414.01 million. It is projected to garner US$ 1,417.66 million by 2030 to expand at 16.6% CAGR during 2022-2030.
Based on country, the South & Central America cloud ERP market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 68.5% share of South & Central America cloud ERP market in 2022. It was assessed at US$ 1,022.55 million in 2022 and is likely to hit US$ 3,547.84 million by 2030, exhibiting a CAGR of 16.8% during 2022-2030.
Key players operating in the South & Central America cloud ERP market are Epicor Software Corp, Infor Inc, Microsoft Corp, Oracle Corp, Sage Group Plc, SAP SE, and Unit4 Group Holding BV, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America Cloud ERP Market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Cloud ERP Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain:
5. South & Central America Cloud ERP Market – Key Industry Dynamics
5.1 Drivers
5.1.1 Increasing Organizational Needs to Improve Staff Productivity and Efficiency
5.1.2 Rising Adoption of Cloud ERP Solutions Across Various Verticals
5.2 Restraints
5.2.1 Availability of Limited Customized Options for SaaS ERP Solutions
5.2.2 Possibility of Security Breach Issues
5.3 Opportunity
5.3.1 Increasing Government Initiatives for Digitalization of SMEs
5.3.2 Use of Mobile and Cloud Applications
5.4 Trends
5.4.1 Technological Advancements
5.4.2 Growing Implementation of Two-Tier ERP Systems
5.5 Impact of Drivers and Restraints:
6. Cloud ERP Market – South & Central America Market Analysis
6.1 South & Central America Cloud ERP Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Cloud ERP Market Forecast and Analysis
7. South & Central America Cloud ERP Market Analysis – Business Function
7.1 Finance and Accounting
7.1.1 Overview
7.1.2 Finance and Accounting Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Sales and Marketing
7.2.1 Overview
7.2.2 Sales and Marketing Market Revenue and Forecasts to 2030 (US$ Million)
7.3 Inventory and Order Management
7.3.1 Overview
7.3.2 Inventory and Order Management Market Revenue and Forecasts to 2030 (US$ Million)
7.4 Human Capital Management
7.4.1 Overview
7.4.2 Human Capital Management Market Revenue and Forecasts to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
8. South & Central America Cloud ERP Market Analysis – Organization Size
8.1 Large Enterprises
8.1.1 Overview
8.1.2 Large Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
8.2 SMEs
8.2.1 Overview
8.2.2 SMEs Market Revenue and Forecasts to 2030 (US$ Million)
9. South & Central America Cloud ERP Market Analysis – Vertical
9.1 Manufacturing
9.1.1 Overview
9.1.2 Manufacturing Market Revenue and Forecasts to 2030 (US$ Million)
9.2 IT and Telecom
9.2.1 Overview
9.2.2 IT and Telecom Market Revenue and Forecasts to 2030 (US$ Million)
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI Market Revenue and Forecasts to 2030 (US$ Million)
9.4 Healthcare
9.4.1 Overview
9.4.2 Healthcare Market Revenue and Forecasts to 2030 (US$ Million)
9.5 Retail
9.5.1 Overview
9.5.2 Retail Market Revenue and Forecasts to 2030 (US$ Million)
9.6 Government
9.6.1 Overview
9.6.2 Government Market Revenue and Forecasts to 2030 (US$ Million)
9.7 Aerospace and Defense
9.7.1 Overview
9.7.2 Aerospace and Defense Market Revenue and Forecasts to 2030 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
10. South & Central America Cloud ERP Market – Country Analysis
10.1 South & Central America
10.1.1 South & Central America Cloud ERP Market Revenue and Forecasts and Analysis – By Countries
10.1.1.1 Brazil: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.1.1 Brazil: South & Central America Cloud ERP Market Breakdown by Business Function
10.1.1.1.2 Brazil: South & Central America Cloud ERP Market Breakdown by Organization Size
10.1.1.1.3 Brazil: South & Central America Cloud ERP Market Breakdown by Vertical
10.1.1.2 Argentina: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Argentina: South & Central America Cloud ERP Market Breakdown by Business Function
10.1.1.2.2 Argentina: South & Central America Cloud ERP Market Breakdown by Organization Size
10.1.1.2.3 Argentina: South & Central America Cloud ERP Market Breakdown by Vertical
10.1.1.3 Rest of South & Central America: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Rest of South & Central America: South & Central America Cloud ERP Market Breakdown by Business Function
10.1.1.3.2 Rest of South & Central America: South & Central America Cloud ERP Market Breakdown by Organization Size
10.1.1.3.3 Rest of South & Central America: South & Central America Cloud ERP Market Breakdown by Vertical
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. COMPANY PROFILES
12.1 Infor Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Microsoft Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Oracle Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sage Group Plc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SAP SE
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Epicor Software Corp
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Unit4 Group Holding BV
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 Word Index
LIST OF TABLES
Table 2. South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Million) – Business Function
Table 4. South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Million) – Organization Size
Table 5. South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Million) – Vertical
Table 6. South & Central America Cloud ERP Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 7. Brazil: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Business Function
Table 8. Brazil: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 9. Brazil: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Vertical
Table 10. Argentina: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Business Function
Table 11. Argentina: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 12. Argentina: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Vertical
Table 13. Rest of South & Central America: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Business Function
Table 14. Rest of South & Central America: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 15. Rest of South & Central America: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn) – By Vertical
Table 16. List of Abbreviation
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LIST OF FIGURES
Figure 2. Ecosystem: South & Central America Cloud ERP Market
Figure 3. South & Central America Cloud ERP Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. South & Central America Cloud ERP Market Revenue (US$ Million), 2022 & 2030
Figure 6. South & Central America Cloud ERP Market Share (%) – Business Function, 2022 and 2030
Figure 7. Finance and Accounting Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Sales and Marketing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Inventory and Order Management Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Human Capital Management Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. South & Central America Cloud ERP Market Share (%) – Organization Size, 2022 and 2030
Figure 13. Large Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. SMEs Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. South & Central America Cloud ERP Market Share (%) – Vertical, 2022 and 2030
Figure 16. Manufacturing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. IT and Telecom Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. BFSI Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Healthcare Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Retail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Government Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Aerospace and Defense Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. South & Central America Cloud ERP Market, By Key Country – Revenue (2022) (US$ Million)
Figure 25. South & Central America Cloud ERP Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 26. Brazil: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 27. Argentina: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 28. Rest of South & Central America: South & Central America Cloud ERP Market Revenue and Forecasts to 2030 (US$ Mn)
1. Epicor Software Corp
2. Infor Inc
3. Microsoft Corp
4. Oracle Corp
5. Sage Group Plc
6. SAP SE
7. Unit4 Group Holding BV
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