At 16.4% CAGR, South & Central America Cloud ERP Market is Projected to be Worth US$ 5,029.99 Million by 2030, says Business Market Insights

According to Business Market Insights' 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.

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