Oracle led the pack in the crowded Cloud ERP applications market in 2024, continuing to post gains at high teens for the past four quarters, marching toward becoming the world’s largest ERP software vendor covering both onpremise and SaaS delivery for the first time in history.
If the prevailing trend stands for the final three-month period of 2024, Oracle could end the year dominating the overall ERP applications market worldwide with at least 6.2% share, compared with about 6% for SAP, its German archrival, based on our preliminary estimates.
Already, Oracle’s strengths with its Fusion Cloud ERP and NetSuite ERP have proved to be formidable in sustaining its lead in the Cloud ERP market, chalking up uninterrupted double-digit expansion since 2019 that culminated in a winning streak of nearly 20% addition for each of the past four quarters, according to rounding growth rates and percentage increases released by the vendor.
Based on reported revenues from hundreds of ERP vendors surveyed by Apps Run The World through October 2024, Oracle’s total Cloud ERP applications revenues are projected to reach $7.7 billion for the full calendar year of 2024. That results in a market share of 22% for Oracle, a seven-point advantage over SAP, as shown in Exhibit 1. Oracle’s Cloud ERP revenues include those from Fusion Cloud ERP, NetSuite ERP and other industry-specific cloud solutions for banking, construction and healthcare.
Exhibit 1 – Preliminary Estimates of Top 10 Cloud ERP Apps Vendors and Their Worldwide Revenues 2023-2024 and 2024 Market Shares
| Rank | Vendor | 2023 | 2024 Projected, $M | 2024 Market Share, % | YoY Growth, % |
|---|---|---|---|---|---|
| 1 | Oracle | $6,750 | $7,793 | 21.70% | 15% |
| 2 | SAP | $4,034 | $5,365 | 15.00% | 33% |
| 3 | Intuit | $2,849 | $3,400 | 9.50% | 19% |
| 4 | athenahealth | $1,462 | $1,520 | 4.20% | 4% |
| 5 | Workday | $1,024 | $1,198 | 3.30% | 17% |
| 6 | Xero | $930 | $1,116 | 3.10% | 20% |
| 7 | RealPage | $1,043 | $1,064 | 3.00% | 2% |
| 8 | Visma | $869 | $991 | 2.80% | 14% |
| 9 | Microsoft | $780 | $950 | 2.60% | 22% |
| 10 | Infor | $872 | $925 | 2.60% | 6% |
| Subtotal | $20,613 | $24,323 | 67.80% | 18% | |
| Other | $12,074 | $11,555 | 32.20% | -4% | |
| Total | $32,687 | $35,878 | 100.00% | 10% |
Source: ARTW Buyer Insight Technographics Database, December 2024
Oracle CEO Safra Catz said during its latest earnings call in December that its strategic back-office SaaS applications now have annualized revenue of $8.4 billion and were up 18%, emphasizing the fact that the across-the-board benefits of running such modern systems have convinced its customers to follow best practices by upgrading to its Cloud ERP applications.
As business efficiency matters more than ever, Catz added there is nothing better than achieving real-time visibility into critical tasks such as rapid financial close as demonstrated by Oracle’s own use of Fusion Cloud ERP to report its earnings in five business days after its quarter ends.
Since Oracle purchased NetSuite in 2016, its Cloud ERP business has been on a tear. Exhibit 2 shows the quarterly revenues of NetSuite ERP based on our historical database and supplemental guidance from the vendor. In its latest four quarters ended in October 2024, Oracle NetSuite ERP has posted an estimated $3.6 billion in software revenues, compared with $763 million, or 3.7x of what it was able to achieve in the first four quarters after NetSuite became a part of Oracle in November 2016.
Exhibit 2 – Oracle NetSuite ERP Applications Revenues, $M, and Year Over Year Growth, %
Source: ARTW Buyer Insight Technographics Database, December 2024
Furthermore, Oracle’s own Fusion Cloud ERP applications revenues have surpassed NetSuite’s in its latest quarter to reach nearly $1 billion, according to our estimates. Exhibit 3 shows the twin engine of Oracle Cloud ERP strategy and their quarterly revenues since 1QFY19:
Exhibit 3 – Comparative Software Revenues of Oracle Fusion Cloud ERP and NetSuite ERP
Source: ARTW Buyer Insight Technographics Database, December 2024
Exhibit 4 shows the quarterly revenues of Fusion Cloud ERP since the first quarter of its fiscal 2019, capping the 26th period with standalone sales of about $994 million in 2QFY25, compared with $214 million in 2QFY19, a 464 percent jump. If the trend continues, Fusion Cloud ERP and NetSuite ERP each are expected to contribute at least $1 billion each every quarter as Oracle starts its fiscal 2026 next June.
Exhibit 4 – Oracle Fusion Cloud ERP Applications Revenues, $M
Source: ARTW Buyer Insight Technographics Database, December 2024
2025 Outlook
 In order for Oracle to sustain its momentum in the mission-critical ERP applications market, a number of developments are worth watching:
- More for less – While Oracle has proven to be adroit at scaling out the twin engine – Oracle Fusion ERP and NetSuite ERP – over the past nine years, its decision not to charge extra for Generative AI features embedded in its applications will test its ability to round out these back-office systems with the latest innovation by boosting performance and delivering exceptional value at the same time.
- Multitasking – Following its key industry-specific acquisitions of Cerner for healthcare, Micros for hospitality, and Aconex for construction, Oracle competes heavily in more than a dozen strategic verticals where cloud migration remains a work in progress because of issues like data sovereignty and regulatory concerns. The challenge for Oracle is to mitigate such inertia by turning ERP into not just a system of record, but also a flexible tool well suited to simplify business processes such as AP/AR automation, account reconciliation and expense management all on a single pane of glass as well as improving industry-specific procedures like core banking, patient accounting and projecting costing that only Oracle can master with its domain expertise.
- Open Mandate – In real estate it refers to allowing multiple brokers to market one’s home. With a growing number of ERP vendors including SAP, Microsoft and more recently Unit4 mandating legacy customers to migrate to the Cloud or face being desupported, Oracle may stand to benefit by becoming the open standard where legacy solutions and cloud applications can coexist. It will be difficult and perhaps costly for Oracle to follow through, but its long history of standing by its Unlimited Support should help assuage the fear, uncertainty and doubt of any customer into perpetuity.
Partial List of Oracle ERP Customer Wins in 2024
| Customer | Industry | Empl. | Revenue | Country | Product |
|---|---|---|---|---|---|
| ActewAGL | Utilities | 800 | $450M | Australia | Oracle Cloud ERP |
| AFFIN Group | Banking and Financial Services | 5485 | $430M | Malaysia | Oracle Cloud ERP |
| AGF Group | Construction and Real Estate | 2300 | $500M | Canada | Oracle Cloud ERP |
| Alliance Resource Partners, L.P. | Oil, Gas and Chemicals | 3595 | $2.6B | United States | Oracle Cloud ERP |
| Anduril Industries | Aerospace and Defense | 3500 | $500M | United States | Oracle Cloud ERP |
| ATE (UK) | Distribution | 35 | $5M | United Kingdom | Oracle NetSuite ERP |
| Austin Peay State University | Education | 1627 | $70M | United States | Oracle Cloud ERP |
| Avery Dennison | Manufacturing | 35000 | $8.4B | United States | Oracle Cloud ERP |
| Baptist Health | Healthcare | 1652 | $375M | United States | Oracle Cloud ERP |
| Bloom & Wild | Retail | 350 | $135M | United Kingdom | Oracle NetSuite ERP |
| Brokers International | Insurance | 115 | $100M | United States | Oracle NetSuite ERP |
| BRUNSWICK CORPORATION | Professional Services | 16608 | $6.4B | United States | Oracle Cloud ERP |
| Bukhatir Group | Construction and Real Estate | 5000 | $816M | United Arab Emirates | Oracle Cloud ERP |
| Chicken of the Sea | Consumer Packaged Goods | 250 | $50M | United States | Oracle Cloud ERP |
| City of Durham, NC | Government | 2600 | $570M | United States | Oracle Cloud ERP |
| Connecticut Children’s | Healthcare | 1000 | $114M | United States | Oracle Cloud ERP |
| CPS Energy | Utilities | 2100 | $1.0B | United States | Oracle Cloud ERP |
| Cresset | Leisure and Hospitality | 20 | $2M | United Kingdom | Oracle NetSuite ERP |
| Darigold | Consumer Packaged Goods | 1900 | $2.3B | United States | Oracle Cloud ERP |
| Department for Environment Food & Rural Affairs | Government | 29430 | $1.7B | United Kingdom | Oracle Cloud ERP |
| Department for Work and Pensions (DWP) | Government | 90000 | $212.5B | United Kingdom | Oracle Cloud ERP |
| Druce | Construction and Real Estate | 120 | $20M | United Kingdom | Oracle NetSuite ERP |
| EF Education First USA | Education | 7000 | $1.5B | United States | Oracle Cloud ERP |
| Etihad Airways Engineering | Aerospace and Defense | 2000 | $420M | United Arab Emirates | Oracle Cloud ERP |
| Gong cha Global | Distribution | 1478 | $550M | United Kingdom | Oracle NetSuite ERP |
| Grupo Globo | Media | 20000 | $5.0B | Brazil | Oracle Cloud ERP |
| Inail | Government | 9261 | $1.0B | Italy | Oracle Cloud ERP |
| Island Green Power | Utilities | 40 | $4M | United Kingdom | Oracle NetSuite ERP |
| Keywords Studios | Professional Services | 13000 | $1.0B | United Kingdom | Oracle NetSuite ERP |
| Lighthouse for the Blind | Non Profit | 480 | $45M | United States | Oracle Cloud ERP |
| Loudoun County Public Schools | Education | 6514 | $1.3B | United States | Oracle Cloud ERP |
| Loudoun County, VA | Government | 4673 | $2.6B | United States | Oracle Cloud ERP |
| Mauritius Commercial Bank | Banking and Financial Services | 3500 | $129M | Mauritius | Oracle Cloud ERP |
| Minera Boroo Misquichilca | Oil, Gas and Chemicals | 600 | $150M | Peru | Oracle Cloud ERP |
| Ministry of Justice, United Kingdom | Government | 79000 | $13.1B | United Kingdom | Oracle Cloud ERP |
| Moravian University | Education | 738 | $88M | United States | Oracle Cloud ERP |
| National Center for Privatization & PPP | Government | 250 | $30M | Saudi Arabia | Oracle Cloud ERP |
| National Veterinary Associates (NVA) | Healthcare | 20000 | $4.5B | United States | Oracle Cloud ERP |
| Nynas | Oil, Gas and Chemicals | 687 | $566M | Sweden | Oracle Cloud ERP |
| OCBC | Banking and Financial Services | 33330 | $9.9B | Singapore | Oracle Cloud ERP |
| Ontario Municipal Employees Retirement System | Banking and Financial Services | 1400 | $5.6B | Canada | Oracle Cloud ERP |
| Pacific Northwest National Laboratory | Life Sciences | 6000 | $1.6B | United States | Oracle Cloud ERP |
| Parkview Health | Healthcare | 16300 | $2.7B | United States | Oracle Cloud ERP |
| Pattern Energy Group LP | Professional Services | 860 | $250M | United States | Oracle Cloud ERP |
| RealPage | Professional Services | 7540 | $1.3B | United States | Oracle Cloud ERP |
| REFY | Consumer Packaged Goods | 130 | $15M | United Kingdom | Oracle NetSuite ERP |
| Ritchie Bros | Manufacturing | 7700 | $3.7B | United States | Oracle Cloud ERP |
| Rona | Retail | 21000 | $2.6B | Canada | Oracle Cloud ERP |
| Singapore Post | Transportation | 4900 | $1.2B | Singapore | Oracle Cloud ERP |
| South Yorkshire Police | Government | 272 | $33M | United Kingdom | Oracle Cloud ERP |
| SystemsAccountants | Media | 50 | $5M | United Kingdom | Oracle NetSuite ERP |
| The Centre for Addiction and Mental Health | Healthcare | 5000 | $1.5B | Canada | Oracle Cloud ERP |
| The Mothership | Professional Services | 50 | $5M | United Kingdom | Oracle NetSuite ERP |
| The Warehouse Group (TWG) | Retail | 4979 | $1.7B | New Zealand | Oracle Cloud ERP |
| UD Trucks | Manufacturing | 5100 | $1.7B | Japan | Oracle Cloud ERP |
| UK Home Office | Professional Services | 35000 | $2.8B | United Kingdom | Oracle Cloud ERP |
| University of California San Francisco | Education | 5063 | $9.5B | United States | Oracle Cloud ERP |
| Waldo`s Dollar Mart | Professional Services | 1500 | $300M | Mexico | Oracle Cloud ERP |
| Washington Metropolitan Area Transit Authority | Government | 10000 | $2.5B | United States | Oracle Cloud ERP |
| Wayne County | Government | 2000 | $1.1B | United States | Oracle Cloud ERP |
| Worldpay | Professional Services | 8500 | $4.9B | United States | Oracle Cloud ERP |
| WSP | Professional Services | 66500 | $10.0B | Canada | Oracle Cloud ERP |
| Zeus | Manufacturing | 2400 | $500M | United States | Oracle Cloud ERP |
Source: ARTW Buyer Insight Technographics Database, December 2024
| Logo | Company | Industry | Employees | Revenue | Country | Evaluated |
|---|---|---|---|---|---|---|
 | FMR | Banking and Financial Services | 74000 | $28.2B | United States | 2025-01-07 |
| Subscribe | Subscribe | Professional Services | 159000 | $53.0B | United States | 2025-01-07 |
| Subscribe | Subscribe | Professional Services | 107583 | $32.5B | Germany | 2025-01-07 |
| Subscribe | Subscribe | Professional Services | 10 | $1M | United States | 2025-01-07 |
| Subscribe | Subscribe | Professional Services | 10 | $1M | India | 2025-01-07 |
| Subscribe | Subscribe | Professional Services | 159000 | $53.0B | United States | 2025-01-06 |
| Subscribe | Subscribe | Professional Services | 107583 | $32.5B | Germany | 2025-01-06 |
| Subscribe | Subscribe | Professional Services | 38 | $6M | United States | 2025-01-06 |
| Subscribe | Subscribe | Professional Services | 60 | $7M | Netherlands | 2025-01-06 |
| Subscribe | Subscribe | Professional Services | 38 | $6M | United States | 2025-01-04 |
| Subscribe | Subscribe | Retail | 20 | $2M | United States | 2025-01-04 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2025-01-03 |
| Subscribe | Subscribe | Professional Services | 38 | $6M | United States | 2025-01-03 |
| Subscribe | Subscribe | Professional Services | 159000 | $53.0B | United States | 2025-01-02 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2025-01-02 |
| Subscribe | Subscribe | Professional Services | 38 | $6M | United States | 2025-01-02 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2025-01-01 |
| Subscribe | Subscribe | Professional Services | 150 | $17M | United States | 2024-12-31 |
| Subscribe | Subscribe | Professional Services | 20 | $2M | United Arab Emirates | 2024-12-31 |
| Subscribe | Subscribe | Professional Services | 159000 | $53.0B | United States | 2024-12-30 |
| Subscribe | Subscribe | Professional Services | 107583 | $32.5B | Germany | 2024-12-30 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2024-12-30 |
| Subscribe | Subscribe | Professional Services | 10 | $13M | United Kingdom | 2024-12-30 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2024-12-26 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2024-12-25 |
| Subscribe | Subscribe | Professional Services | 20 | $2M | United States | 2024-12-25 |
| Subscribe | Subscribe | Professional Services | 10 | $1M | United States | 2024-12-25 |
| Subscribe | Subscribe | Insurance | 10848 | $19.2B | United States | 2024-12-24 |
| Subscribe | Subscribe | Professional Services | 150 | $12M | United States | 2024-12-24 |
| Subscribe | Subscribe | Insurance | 30 | $5M | United States | 2024-12-24 |
| Subscribe | Subscribe | Manufacturing | 50 | $7M | Norway | 2024-12-24 |
| Subscribe | Subscribe | Communications | 150 | $15M | United States | 2024-12-24 |
| Subscribe | Subscribe | Professional Services | 20 | $2M | United States | 2024-12-24 |
