Worldwide Enterprise Resource Management Applications Market Shares, 2016: Cloud Growth Continues Momentum
This IDC study reviews the market for ERM software, which was up in 2016 at $56 billion, an increase over 2015's $51.9 billion. IDC finds digital transformation initiatives are driving growth in ERM solutions as more than two-thirds of CEOs of Global 2000 enterprises have digital transformation at the center of their corporate strategy. Digital transformation requires a focus on not only the front office but the back office too, or ERM systems. This means the 3rd Platform movement to cloud, mobility, social business, and big data/analytics is driving increased demand for ERM. As more vendors configure workflows into intuitive user experiences, make the applications cloud and mobile ready, and tie data and analytics to these ERM workflows, end users are finding immediate and quicker time to real value. It's no longer about waiting for technology to be configured and updated correctly — it is now about how the enterprise makes sure it stays current internally with all the changes configured in the ERM solution. It is clear the pace of the ERM technology change has radically accelerated, particularly with the 3rd Platform and the innovation accelerators of cognitive systems including machine learning and IoT. This acceleration is no longer about when the enterprise jumps on board but about how quickly it can jump on board, or die trying to modernize its ERM solution.Mickey North Rizza, program VP for Enterprise Applications, says, "ERM solutions are in the middle of a shift in their deployment strategy with end users. More and more ERM applications are built for rapid deployment using cloud, agile business value, and continuous improvement beyond the original investment. It is no longer about making do with an on-premises solution but rather investing into digital transformation initiatives that match the back-office current with the front-office and managing the complete business."
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