TECH SUPPLIER Dec 2019 - Market Forecast - Doc # US45691619
Worldwide Enterprise Resource Management Applications Forecast, 2019–2023
By: Mickey North RizzaProgram Vice President, Enterprise Applications and Digital Commerce, Kevin PermenterResearch Manager, Enterprise Applications, Jordan JewellResearch Manager, Digital Commerce and Enterprise Applications
This IDC study examines the market for ERM software, which is forecast to grow at a five-year CAGR of 7.4%. The market is expected to see sustained growth through the forecast period and is driven by the demand for public cloud, modern UIs, intelligent applications, and intuitive personalized user experiences. Demand for cloud software contrasts greatly with that for on-premises applications. Digital transformation initiatives aimed at bringing business applications into the modern world 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 their software until contracts run out and they have a full digital transformation strategy.
"Digital transformation initiatives are completely shifting the purchase of ERM solutions deployed on-premises to the public cloud. Organizations want more digital workflows, innovation, and faster time to value across their business; they understand the best way is with innovative cloud-based solutions," says Mickey North Rizza, program vice president, Enterprise Applications and Digital Commerce at IDC.
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