Month: March 2024

“Oracle (US), Microsoft (US), SAP (Germany), Workday (US), Infor (US), IFS (Sweden), Plex Systems (US), Epicor Software Corporation (US), Sage Group (UK), Ramco Systems (India), QAD (US), Tally Solutions (India), Odoo (Belgium), SYSPRO (South Africa), Tyler Technologies (US), MIE Solutions (US), Acumatica (US), Genius Solutions (Canada), Deltek (US).”

The cloud ERP market size is expected to grow from USD 72.2 billion in 2023 to USD 130.5 billion by 2028 at a compound annual growth rate (CAGR) of 12.6% during the forecast period. Cloud ERP is a modern and dynamic approach to managing essential business processes and data through cloud-based software solutions. Unlike traditional on-premises ERP systems, which require substantial hardware and infrastructure investments, cloud ERP leverages the power of the cloud to deliver software as a service (SaaS). Cloud ERP systems are accessible from anywhere with an internet connection. This remote accessibility is essential in today’s globalized and increasingly remote work environment. It allows employees to access critical business data and applications, collaborate, and make informed decisions from anywhere in the world; such factors are helping the market to grow rapidly.

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Moreover, customer relationship management (CRM) and project management are integral components of a comprehensive cloud ERP solution. CRM enhances customer interactions by centralizing and analyzing customer data, enabling better sales and service. This data integration with ERP improves decision-making, inventory management, and demand forecasting. Project management within ERP facilitates efficient resource allocation, task tracking, and collaboration, ensuring project timelines and budgets are met. When integrated into a cloud ERP system, both CRM and project management modules benefit from real-time data access, scalability, and accessibility from anywhere, which streamlines operations, boosts productivity, and drives growth. Combining CRM and project management with a cloud ERP solution helps businesses improve customer relationships, streamline processes, and enhance organizational efficiency.

By component, the services segment is expected to capture the highest CAGR during the forecast period.

The component segment of the cloud ERP market is segmented into solutions and services. The services segment is estimated to hold the highest CAGR during the forecasted period. Services are categorized into managed services and professional services. The services segment in the cloud ERP market plays a crucial role in complementing the software solutions by offering a wide array of training, support, and maintenance, implementation & integration, and consulting & advisory services. This segment is instrumental in helping organizations adopt and maximize cloud ERP systems’ benefits. Service providers assist businesses in effectively deploying ERP solutions, tailoring them to specific organizational needs, and ensuring seamless integration with existing infrastructure. They offer training programs to empower users, facilitate data migration, and provide strategic guidance to align ERP strategies with business objectives. These services are instrumental in helping organizations harness the full potential of cloud ERP, enabling streamlined operations, data-driven decision-making, and long-term scalability while ensuring compliance and data security.

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Cloud ERP systems offer several key advantages, making them increasingly popular among businesses of all sizes and across various industries. One of the primary benefits is scalability. Cloud ERP solutions are highly adaptable, enabling organizations to adjust their resources and capabilities according to their evolving needs. This is particularly advantageous for small and mid-sized companies that may start with a more limited system and then seamlessly expand their ERP capabilities as they grow and their requirements change. The cloud-based nature of these systems allows for easy scaling up or down, ensuring that a business’s ERP investment remains in sync with its operations.

Unique Features in the Cloud ERP Market

Scalability is a feature of cloud ERP solutions that makes it simple for companies to modify capabilities and resources in response to shifting demands, whether those needs involve growing their user base, integrating more modules, or adding more users.

Cloud ERP increases flexibility and efficiency by enabling remote work, mobile access, and team collaboration across geographically dispersed teams. It also gives users anytime, anywhere access to vital corporate data and apps.

Because cloud ERP usually uses a subscription-based pricing model, it is more affordable for businesses, particularly small and medium-sized organisations (SMEs), as it eliminates the need for upfront capital investments and lowers the cost of IT equipment and maintenance.

In comparison to conventional on-premises ERP systems, cloud ERP solutions provide quicker deployment timelines, shorter implementation cycles, easier settings, and automatic updates, all of which help businesses reap the benefits of ERP technology more rapidly.

Without requiring manual involvement, cloud ERP vendors handle software upgrades, patches, and maintenance duties to guarantee that businesses always have access to the newest features, security improvements, and compliance updates.

Major Highlights of the Cloud ERP Market

Business intelligence (BI) and analytics tools are integrated into cloud ERP platforms, offering dashboards, reports, and real-time insights to facilitate data-driven decision-making, performance tracking, and strategic planning.

With the features that cloud ERP solutions offer, organisations may customise and configure the system to meet their own workflows, business processes, and industry requirements. This helps to enhance user adoption and support specific company demands.

Cloud ERP providers make significant investments in strong security measures, such as data encryption, access controls, threat detection, and compliance certifications, to reduce cybersecurity risks and guarantee the confidentiality, integrity, and availability of key corporate data.

In order to provide smooth data interchange and interoperability with CRM, HR, supply chain management, and other business applications, cloud ERP platforms offer integration capabilities with other cloud-based and on-premises systems.

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Top Key Companies in the Cloud ERP Market

Major vendors in this market are based in North America and Europe are Oracle (US), Microsoft (US), SAP (Germany), Workday (US), Infor (US), IFS (Sweden), Plex Systems (US), Epicor Software Corporation (US), Sage Group (UK), QAD (US), Odoo (Belgium), Tyler Technologies (US), MIE Solutions (US), Acumatica (US), Genius Solutions (Canada), Deltek (US), Vienna Advantage (Germany), OpenPro (US), Dassault Systemes (US) are among a few leading players operating in the cloud ERP market. These vendors can concentrate on forming new connections and partnerships. Key players have adopted various strategies such as new product launches, contracts, partnerships, and mergers & acquisitions to strengthen market dominance.

Dassault Systemes

In the cloud ERP market, Dassault Systemes provides the DELMIAWorks ERP system with a tailored solution for the factory’s environment to streamline sales, order processing, finance, human resources, planning, production, inventory, procurement, and more. It becomes the backbone for visibility, execution, and communication of manufacturing activities and data throughout the supply chain. The company also caters to the 3DEXPERIENCE platform, a collaborative and integrated environment that allows companies to design, simulate, and manage their products and processes in a virtual 3D environment. This platform covers various applications, from product design and engineering to simulation and manufacturing.

Plex Systems

Plex Systems makes software that connects, automates, tracks and analyzes manufacturing operations to help clients build the products of the future today. Besides ERP solutions, Plex also offers Supply Chain Planning (SCP), Quality Management System (QMS), Manufacturing Execution System (MES), and Asset Performance Management (APM). Rockwell Automation acquired Plex in September 2021.

Plex Systems provides cloud-based manufacturing ERP software. It offers business management products, including accounting and financials, customers and sales, enterprise management, HCM, suppliers and purchasing, manufacturing operation products for planning and scheduling, inventory management, production management, quality management, and MES products. Plex Manufacturing Cloud is one of the ERP solutions that majorly helps manufacturers. As a result, customers witness complete visibility in their operations and plant data and can leverage those details to increase profits.

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“Tenable (US), CrowdStrike (US), Palo Alto Networks (US), Forescout (US), EY (UK), VIAVI (US), Verisk (US), IBM (US), eSentire (Canada), Mandiant (US), CyCognito (US), Censys (US), XM Cyber (Israel), Cymulate (Israel), Skybox Security (US), Armis (US), Picus Security (US), Adarma (Scotland), IONIX (Israel), Outpost24 (Sweden), and Risk Profiler (US)”

The global Exposure Management market size is projected to grow from USD 2.2 billion in 2024 to USD 7.6 billion by 2029 at a CAGR of 28.3% during the forecast period. The exposure management market is driven by various factors, among which the rising number of cybersecurity threats and targeted attacks stands out as a primary catalyst. It is compounded by rapid digitalization and cloud adoption, expanding the attack surface and introducing new vulnerabilities. Additionally, the landscape is further shaped by stringent regulatory compliance and data protection laws, requiring businesses to adopt proactive measures to safeguard sensitive data and ensure privacy. This regulatory pressure mandates the adoption of robust security practices and highlights the importance of compliance as a driver for the market. Together, these drivers fuel the demand for exposure management solutions to navigate the complex cybersecurity challenges of today’s digital world.

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Exposure Management Market Definition

Exposure management is a security practice used for mapping a company’s digital attack surface and creating and executing plans to mitigate these security threats. Exposure management includes identifying, assessing, and managing possible risks and vulnerabilities before attackers take advantage of them. The exposure management process involves scoping, discovery, prioritization, validation, and mobilization.

By end-user industry segment, the healthcare industry will grow at the highest CAGR during the forecasted period.

The healthcare industry is anticipated to grow at the highest CAGR in the exposure management market during the forecasted period due to several critical factors. First, the healthcare sector is increasingly digitizing patient records and using connected medical devices, significantly expanding its attack surface. This digital transformation, coupled with the sensitive nature of health data, makes the industry a prime target for cyberattacks. Moreover, healthcare organizations face stringent regulatory requirements for data protection, such as HIPAA in the US, necessitating robust cybersecurity measures. The pandemic has further accelerated the adoption of telehealth services, increasing the potential for cyber exposure. Additionally, the consequences of data breaches in healthcare, ranging from financial penalties to risks to patient safety, underscore the urgent need for comprehensive exposure management solutions to safeguard critical infrastructure and maintain patient trust. These factors collectively contribute to the significant growth of the healthcare industry during the forecasted period.

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By component, the solution segment holds the largest market size during the forecast period.

The solution segment in the exposure management market is anticipated to achieve the largest market size due to the urgent need for comprehensive cybersecurity solutions to identify, assess, and mitigate vulnerabilities effectively. As cyber threats grow in sophistication, organizations are increasingly seeking advanced, integrated solutions offering real-time visibility and control over their digital environments. Further, the demand is amplified by the rapid digital transformation, expanding the attack surface across various industries. Moreover, solutions incorporating AI and ML for predictive threat analysis are in demand, offering proactive rather than reactive protection. The need for these solutions is also driven by regulatory pressures, requiring businesses to maintain stringent cybersecurity measures to protect sensitive data and ensure compliance. All these factors contribute to the growing market size of the solutions segment in the exposure management landscape.

Unique Features in the Exposure Management Market

By combining information from several sources, such as financial, operational, and regulatory data, exposure management solutions provide a full picture of the risk exposure of an organisation. This allows for a more thorough approach to risk assessment.

Real-time monitoring capabilities are offered by these technologies, which enable proactive risk management and mitigation by continuously tracking changes in risk exposure elements such market fluctuations, regulatory changes, and operational occurrences.

Through the use of sophisticated scenario analysis and modelling tools provided by exposure management platforms, organisations may optimise decision-making by simulating a range of risk scenarios, evaluating risk mitigation techniques, and assessing potential consequences.

In order to guarantee data accuracy, timeliness, and completeness, exposure management solutions interact with both internal and external data sources, such as financial systems, market data providers, regulatory databases, and third-party risk management platforms.

In order to help stakeholders make educated decisions and prioritise risk mitigation activities, these solutions offer automated reporting and customisable dashboards that offer actionable insights into risk exposure metrics, trends, and performance indicators.

Major Highlights of the Exposure Management Market

Exposure management solutions emphasise developing resilience and business continuity capabilities to enable organisations to endure and recover from unfavourable events, given the rising frequency and severity of disruptions such as cyberattacks, natural disasters, and geopolitical crises.

By giving centralised access to risk data, workflows, and communication tools, exposure management platforms support collaborative risk management procedures and encourage cooperation between risk management teams, business units, and external stakeholders.

The increasing popularity of cloud-based exposure management solutions can be attributed to their scalability, flexibility, and accessibility, which allow organisations to efficiently and affordably implement and manage risk management capabilities.

Exposure management systems offer automated compliance checks, alerts, and reporting capabilities to assist organisations in monitoring compliance with industry standards, internal policies, and regulatory obligations.

With the use of exposure management systems, which provide sophisticated modelling and scenario analysis capabilities, organisations may optimise decision-making by simulating different risk scenarios, evaluating risk mitigation techniques, and assessing potential repercussions.

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Tenable (US)

Tenable is a cybersecurity firm known for its vulnerability scanner software, Nessus. With a focus on the exposure management market, Tenable provides comprehensive solutions to identify, assess, and remediate vulnerabilities across an organization’s attack surface. It includes IT assets, cloud resources, web apps, and identity platforms. Tenable’s approach combines broad exposure coverage with threat intelligence and data science, enabling businesses to anticipate attacks, accurately communicate cyber risk, and support optimal performance. With over 40,000 customers worldwide, including a significant portion of the Fortune 500 and Global 2000, Tenable continues to innovate, offering products like Tenable One for exposure management, highlighting its commitment to reducing cyber risk across the evolving digital landscape.

Tenable caters to industries, including automotive manufacturing, building management systems, energy, finance, general manufacturing, healthcare, oil & gas, retail, transportation, water, state / local / education, and US Federal with a worldwide presence in America, Europe, the Middle East & Africa, and Asia Pacific regions. The company was recognized as the best security company at the 2023 SC Awards. Furthermore, the Tenable One exposure management platform received accolades as the best risk/policy management solution.

Tenable’s role in the exposure management market is further strengthened through strategic partnerships and acquisitions, such as Tenable’s partnership with Splunk to enhance data-driven incident response by integrating Tenable’s vulnerability management insights with Splunk’s log and flow consolidation capabilities. This collaboration aims to simplify risk prioritization, accelerate threat response, and reduce overall business risk, providing security teams with improved visibility, event correlation, and prioritization capabilities in a unified dashboard. Also, Tenable recently acquired Ermetic (Israel). These collaborations and acquisitions enable Tenable to continuously enhance its exposure management offerings, making it a key player in the global exposure management landscape.

CrowdStrike (US) is a cybersecurity company focusing on exposure management through its Falcon Exposure Management platform, an AI-powered platform offering comprehensive attack surface visibility and vulnerability management designed to proactively mitigate risks by identifying, assessing, prioritizing, and remediating vulnerabilities. The company aims to reduce external attack surfaces and vulnerability noise by combining real-time asset discovery, security configuration assessment, and predictive analytics to streamline vulnerability management and enhance organizational security posture.

CrowdStrike’s recent advancements, including its leadership recognition by IDC MarketScape for vulnerability management, underscore its focus on reducing intrusion risks and enhancing visibility into adversary attack paths. Its integrated approach, combining real-time security data and AI-driven insights across IT and security operations, streamlines vulnerability management and breach prevention. Additionally, CrowdStrike’s introduction of Falcon for IT signifies a strategic move towards bridging the gap between security and IT operations, facilitating comprehensive endpoint monitoring and automated remediation actions to bolster cybersecurity defenses.

CrowdStrike caters to finance, manufacturing, education, energy, retail, insurance, and airlines. 23,000+ customers trust the company and boast a worldwide presence, including strong footprints in North America, Europe, the Middle East & Africa, and Asia Pacific.

Strategic partnerships and acquisitions further strengthen CrowdStrike’s role in the exposure management market. For instance, the acquisition of Reposify (US) and partnerships with Armis (US) and Palo Alto Networks (US). These collaborations and acquisitions enable CrowdStrike to continuously enhance its exposure management offerings, making it a key player in the global exposure management landscape.

Apart from prominent vendors, other players include CyCognito, Censys, XM Cyber, Cymulate, Skybox Security, Armis, Picus Security, Adarma, IONIX, Outpost24, ResilientX, Ridge Security, Redhunt Labs, Brandefense, and Risk Profiler which are also evolving in the exposure management market.

CyCognito (US) provides a comprehensive platform for external attack surface management (EASM) and continuous security testing. It is designed to uncover, test, prioritize, and remediate web assets and applications, revealing risks. The company aims to significantly reduce overall risk by automating the discovery, contextualization, active security testing, prioritization, and acceleration of remediation efforts. It offers an automated platform that discovers 80% more assets and tests them eight times more than traditional methods, leading to an 85% reduction in the mean time to remediate (MTTR). CyCognito’s platform empowers teams to understand the significance of each asset, its location, connections, and attractiveness to attackers, ensuring the assets are organized and prioritized based on their likelihood of being targeted.

CyCognito’s platform is trusted by leading organizations worldwide, providing them with cutting-edge technology for global visibility into web-facing assets through an easy-to-use interface. The company profoundly understands how attackers exploit vulnerabilities and the paths of least resistance. It serves large enterprises and Fortune 500 organizations, including notable names like Colgate-Palmolive and Tesco.

Adarma (Scotland) is a cybersecurity company renowned for its expertise in providing comprehensive security solutions to businesses. The company offers a wide range of services tailored to meet the unique security needs of its clients. With a focus on proactive threat detection and response, Adarma helps organizations safeguard their digital assets and mitigate cybersecurity risks effectively. The company’s service portfolio includes assessment and advisory services, SOC engineering, threat intelligence, exposure management services, and incident detection and response.

Adarma has partnered with key players in the industry, like Microsoft (US), CrowdStrike (US), and Splunk (US), among others, to offer such a comprehensive service portfolio.

MnM says most businesses use inorganic growth strategies to hold their market share. In 2021–2022, the number of agreements rose significantly. MnM is expecting the rate of the accords will further increase in the exposure management market in the coming years as startups are evolving in the following market space, having technical advancements which, with time, get acquired or partnerships with tech giants to bring the innovations in their existing solutions and increase their market share in the exposure management market.

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Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
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State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/exposure-management-market-193629602.html

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To view the original version on ABNewswire visit: Exposure Management Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2029