Enterprise Resource Planning (ERP) systems are software applications that help businesses manage and automate their day-to-day operations. ERP systems have become increasingly popular in recent years, and this trend is expected to continue into 2023. In this article, we will discuss the market share and buyer trends for ERP systems in 2023.
Market Share of ERP Systems
The ERP software market is highly competitive, with many vendors offering a variety of solutions for different industries and business sizes. According to a report by Gartner, the top five ERP vendors by market share in 2023 are projected to be:
SAP
Oracle
Microsoft
Infor
Workday
These vendors are expected to account for approximately 50% of the total ERP software market share in 2023.
SAP is expected to maintain its position as the market leader, with a projected market share of approximately 16%. Oracle and Microsoft are projected to have market shares of approximately 13% and 9%, respectively. Infor and Workday are projected to have market shares of approximately 6% and 5%, respectively.
Buyer Trends for ERP Systems
ERP systems are used by businesses of all sizes, from small startups to large enterprises. In 2023, there are several buyer trends that are expected to shape the ERP software market:
Cloud-based Solutions
Cloud-based ERP solutions are becoming increasingly popular, as they offer several benefits over traditional on-premise solutions. Cloud-based solutions are more flexible, scalable, and cost-effective than on-premise solutions, and they allow businesses to access their ERP systems from anywhere with an internet connection.
Mobile Accessibility
Mobile accessibility is becoming a key requirement for ERP systems, as more and more employees are working remotely or on-the-go. Mobile accessibility allows employees to access the ERP system from their smartphones or tablets, which can improve productivity and collaboration.
Industry-specific Solutions
ERP vendors are developing more industry-specific solutions to meet the unique needs of different industries. Industry-specific solutions offer pre-configured templates and workflows that are tailored to specific industries, which can save businesses time and money on customization and implementation.
Artificial Intelligence and Machine Learning
Artificial intelligence (AI) and machine learning (ML) are becoming increasingly integrated into ERP systems. AI and ML can be used to automate routine tasks, improve decision-making, and provide predictive analytics, which can help businesses operate more efficiently and effectively.
Integration with Other Business Applications
ERP systems are becoming more integrated with other business applications, such as CRM, HR, and supply chain management. Integration with other business applications can improve data visibility and accuracy, and allow businesses to streamline their operations and make better-informed decisions.
In conclusion, the ERP software market is expected to continue growing in 2023, with cloud-based solutions, mobile accessibility, industry-specific solutions, AI and ML, and integration with other business applications being key buyer trends. The top five ERP vendors are expected to account for approximately 50% of the total ERP software market share, with SAP maintaining its position as the market leader. As businesses continue to rely on technology to operate more efficiently and effectively, ERP systems will continue to play a critical role in their success.
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