Worldwide Enterprise Resource Management Applications Forecast, 2018–2022
This IDC study examines the market for ERM software, which is forecast to grow quickly at a CAGR of 7.5%. The market is expected to reach $88.1 billion by 2022 and is driven by the demand for public cloud, modern UIs, intelligent applications, and intuitive user experiences. Demand for public cloud software (CAGR of 15.1%) contrasts greatly with that for on-premises applications (CAGR of 0.005%). Digital transformation initiatives aimed at bringing back-office applications in parity with front-office applications are creating interest in cloud offerings and new technology partnerships. However, the on-premises software market remains important as medium-sized and large enterprises are still maintaining existing back-office software until contracts run out and they have a full digital transformation strategy."Digital transformation initiatives are driving organizations to purchase ERM solutions deployed in the public cloud. Organizations want more innovation across their businesses and understand that the quickest way to it is with cloud-based solutions," says Mickey North Rizza, program vice president, Enterprise Applications.
Please Note: Extended description available upon request.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook