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Trends Will Continue to Help ERP Grow

A recent study by Allied Market Research shows encouraging signs for ERP software. The global ERP market is expected to reach $41.7 billion by 2020. On-premise ERP software is expected to retain a high market share according to the research firm. There are a few explanations why the industry, consisting of small, medium and large companies, is expected to grow within the next five years.

More adoption
Aerospace and defense verticals are increasingly adopting ERP software, leading to a demand increase. Aerospace and defense interest further showcases why ERP software is not only used by manufacturing companies . Allied Market Research believes the need for ERP software is due to companies wishing to maintain data transparency. PC Magazine defines data transparency as the ability to to easily access and and manipulate the data no matter the location.

ERP software within the aerospace and defense industry is projected to increase at a compound annual growth rate of 8.86 percent during 2015 to 2020. There are also some specific trends that will continue to drive ERP software adoption.

Mobile ERP becoming a focus
Mobile workers’ needs must be met, according to CIO. As a result, mobile adoption is another factor driving up ERP software adoption. Manufacturers and other companies are increasingly looking to create a mobile ERP strategy as the market shifts towards that area. Connectivity, usability, security and functionality are all factors companies must consider when implementing a mobile strategy. ERP software vendors will increasingly look to entice customers by designing mobile applications to be as close as possible to on-premise software in terms of functionality.

According to analysis by Forbes, a strong mobile strategy is especially important depending on how complex a company’s service chain, distribution and supply chain networks are. Because of the rise of mobile devices, ERP software has to quickly react to any given situation.

Better educated buyers
Businesses are also developing a better understanding of the ERP software needed. An ERP solution must suit long-term needs. As a result, Toolbox says ERP software is starting to become more personalized.

Overseas demand
Chinese manufacturing companies are also contributing to the growth of ERP software and can be considered as the emerging market for ERP software solutions. Manufacturing companies need ERP software to properly meet the increasing demands for goods, especially the ever-growing need for electronics.

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