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HG has identified 1.4M businesses spending $183B on Enterprise Resource Planning (ERP) systems over the next 12 months.
Enterprise resource planning (ERP) systems are one of the stickiest IT products that any company will purchase in its lifetime. According to HG’s data, the ERP market share of global IT spend is on the rise.
Over a forecast period of the next 12 months, 1.4 million companies will spend $183 billion on ERP systems. This figure makes up a whopping 17.9% of total IT software spend, and 5% of overall IT spending. Market growth is being driven by an increase in the number of SMEs, the drive to improve operational efficiencies, and the understanding of competitive advantages to be gained by adopting cloud-based ERP.
The AMER region (North American and Latin America) is currently the largest for ERP providers, comprising 43% of the ERP market. However, APAC (Asia-Pacific) comes in second with about one-third (32.7%) of ERP spending and is growing at a quick pace, driven by rising ERP adoption among startups and SMEs, manufacturing growth and increased investment in the region by ERP providers.
HG Insights released its market report revealing the ERP market size, key players, and biggest opportunities in 2024. To see the complete 2024 ERP market forecast, you can download the report for free here.
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The ERP Market Size and Key Players in 2024
HG Insights took a deep look to uncover the ERP market size and key players across subcategories. We divide the ERP market into eight subcategories:
- Customer Relationship Management (CRM) Applications
- Financial Applications
- Human Capital Management (HCM)
- Sourcing and Procurement
- Project and Portfolio Management
- Supply Chain Management Applications
- Manufacturing Product Life Cycle Management
- Distribution Management
According to HG’s data, Customer Relationship Management (CRM) applications and Financial Applications make up the largest subcategories, with 22.2% and 21% of total ERP spend, respectively. It’s worth noting that there is crossover between categories, with some vendors offering one tool that covers more than one area or multiple tools across the ERP category.
Next, HG identified the leading vendors by customer count that captured a significant portion of ERP market share. To see the leading vendors in all eight subcategories, view the 2024 ERP Market Report.
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The 2024 ERP Market Report covers:
- ERP market size in 2024, including spend by region
- Leading vendors in all eight subcategories
- Trends impacting the market in 2024
Get these insights and more in the ERP Market Report: Spend, Trends & Opportunities in 2024. Download your free copy today.
About HG Insights
HG Insights, the provider of data-driven insights to 75% of tech companies in the Fortune 100, is your go-to-market Technology Intelligence partner.
We use advanced insights into Technology Intelligence — on IT spend, technographics, cloud usage, intent signals, Functional Area Intelligence, contract details, and AI maturity — to provide global B2B companies with a better way to analyze markets and target prospects. Our customers achieve unprecedented results in their marketing and sales programs thanks to the indexing of billions of unstructured documents each day with insights into product adoption, usage, spend data, and more to build high-resolution maps of activity across an organization’s entire digital infrastructure to power business decisions with precision and confidence.
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