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The Enterprise Resource Planning (ERP) market has been around for about 40 years. Last year, in 2018, the market size surpassed $35 billion, according to Gartner.
While SAP and Oracle still are the market leaders in ERP, the entire software segment is in flux, particularly because of the cloud.
A report by KLAS found that “in the traditionally stagnant market of ERP (HR, finance, and/or supply chain), aging on-premises solutions are giving way to several cloud options now on the table. Given the significant lift required to move to a new ERP system, many organizations contemplating the cloud are taking the opportunity to consider all vendors, not just their incumbent.”
Allied Market Research estimates that currently 57 percent of ERP systems are on-premise, but that is changing rapidly.
Panorama Consulting found that the biggest obstacles to cloud ERP were risk of security breaches (29%), insufficient information about cloud offerings (16%), and perceived risk of data loss (9%).