Global SaaS-based ERP software market: 14% CAGR growth expected between 2012-2016
Global SaaS-based Enterprise Resource Planning Software Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-29 03:54:02
The Global SaaS-based ERP Software market is to grow at a CAGR of 13.93 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand from SMEs. The market has also been witnessing increased influence from social media and mobile apps. However, data security issues and the lack of confidence of consumers could pose a challenge to the growth of this market.
The increasing influence of social networking sites such as Facebook, Twitter and LinkedIn, allows SaaS-based ERP vendors to introduce social networking in businesses that will help the employees to interact with their customers. The linkage of SaaS-based ERP software with social media gives employees a much more rich understanding of the end-customer, making customer interaction more personal. The use of social tools within ERP software also increases the degree of integration between co-workers, which in turn improves the quality of information captured about customers. Moreover, inspired by the Apple Application Store, the ERP Application Store has been introduced by SAP AG. SAP has also added the ability for customers and partners to buy and resell its Business One ERP software for smaller companies through the store. Vendors such as SAP AG, NetSuite Inc., and Microsoft Corp. Are actively building application stores to provide smartphone access to ERP data. SaaS-based ERP is being impacted by mobility and the propagation of smartphone applications, and is focusing more on building out an ecosystem of applications that will run with native functionality on the iPhone and Android.
One of the major drivers of the Global SaaS-based ERP Software market is the increasing demand from SMEs. This is because tasks such as implementation, continuous operation, backup, updates, and infrastructure maintenance of the ERP software are handled by SaaS vendors, thus reducing the total cost of ownership of ERP solutions.
Further, the report states that concern regarding data security is one of the biggest challenges faced by end-users. Customers fear that storing sensitive and personal data on a third-party cloud could make such information vulnerable to data security breaches.
The key vendors dominating this market space include Microsoft Corp., NetSuite Inc., Oracle Corp., and SAP AG. The other vendors mentioned in the report are Aplicor LLC, Deltek Inc., Epicor Software Corp., FinancialForce.com Inc., Infor Global Solutions, Intacct Corp., Plex Systems Inc., QAD Inc., Ramco Systems Ltd., RootStock Software, Sage Software Inc., and Workday Inc.
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