The global enterprise resource planning (ERP) software market is forecast to grow to around 101 billion U.S. dollars by 2026. SAP and Oracle are two of the leading vendor in the market.

Enterprise resource planning (ERP)

Enterprise resource planning (ERP) refers to the business process management software that allows businesses to integrate different aspects of business operations in one database, application and user interface. It is a type of enterprise software, which also includes human resource management (HRM) systems, customer relationship management (CRM), office suites, etc. The market is forecast to witness growth in the coming year – overall IT spending on enterprise software is projected to grow to 462 billion U.S. dollars by 2020. In comparison to other IT segments such as data center systems and hardware devices, enterprise software has a more consistent growth pattern, signaling businesses’ steady and high demand of software support.