The ERP market is booming, and many companies are trying to get a piece of the pie. ERP systems are used in all industries, but some more than others. Different ERP systems offer different features that can be advantageous for certain industries over others. If you’re looking to expand your ERP knowledge, this blog post will provide you with some insight into important trends in 2020’s ERP market share!
Market Share Data
Gartner has released their ERP market share data for 2020, and there are some interesting trends to note. The ERP market is becoming increasingly competitive, with more companies vying for a piece of the pie. In terms of market share, SAP remains in the lead with a 31.0% share, but Oracle is quickly catching up with a 29.0% share. Microsoft Dynamics is in third place with an 11.0% share, while IBM comes in fourth with a (still impressive) global market share of nearly $11 billion across all its ERP products.
The ERP Market by Industry
When it comes to the ERP market by industry, manufacturing continues to be the top sector, accounting for over 25% of ERP software licenses. The manufacturing industry is changing, however, and many companies are beginning to look for more flexible ERP systems with better customer support options. This has led to a rise in the popularity of cloud ERPs over on-premise ERPs , especially among manufacturers who work with smaller teams or have less IT resources available.
Important Trends to Watch
The ERP market continues to be competitive due largely in part because major players like Oracle are willing to drop their prices by as much as 30% annually. Despite this great opportunity for customers, it’s important that organizations keep an eye out for certain trends within the 2020 ERP market share data which may affect why they choose one solution over another! Here are some interesting trends you should watch out for:
- ERP systems are becoming more specialized in order to cater to specific industries. This is especially true for cloud ERPs, which are often designed for smaller businesses or those in specific sectors.
- The demand for customer relationship management (CRM) features continues to grow, as companies look to better manage their interactions with customers. Many ERP providers are now offering CRM modules as part of their standard product offerings.
- There has been a rise in the popularity of artificial intelligence (AI) and machine learning among ERP providers. AI can be used to automate many tasks that would traditionally be done by human employees, such as data entry and invoice processing. As this technology becomes more prevalent, we can expect to see ERP software become more versatile.
- ERP providers are increasingly seeking to expand their product offerings by acquiring other companies that specialize in different areas of the ERP market, including CRM modules and manufacturing tools. This is another trend you should watch out for as it will continue to affect how ERPs evolve over time.
The 2020 ERP market share data contains some interesting trends worth paying attention to! Based on this information, what do you think your business’s next move should be? To learn more about ERP systems past, contact us today!