European ERM Applications 2021-2025 Forecast

European ERM Applications 2021-2025 Forecast

  • July 2021 •
  • 34 pages •
  • Report ID: 6107169 •
  • Format: PDF
The European enterprise resource management (ERM) applications market grew 5.1% in constant US dollar terms in 2020, despite significant headwinds from the COVID-19 pandemic and the subsequent disruption to the global economy. Market growth in 2020 was primarily driven by cloud-based ERM solutions and by the consistent importance of larger transformational projects for key enterprise-level customers. The latter saw their digital transformation (DX) projects as necessary to build business resiliency and ensure continuity in a time of heavy disruption. However, many European economies saw significant hits to GDP, and the resulting uncertainty has impacted the once-burgeoning small and medium-sized business (SMB) market disproportionately. This IDC Market Forecast analyzes and sizes the European ERM applications market for 2018-2020, with a forecast for 2021-2025. The study segments the ERM applications market by functional market (eight functional markets), deployment model (software as a service [SaaS] and on premises), and country or region. "The slowdown in growth of the ERM applications market in 2020 to 5.1% is indeed substantial, given the robust double-digit growth in the previous cycle, but it also bears testament to the importance of technology in times of disruption. Overall, the ERM market performance was affected by the COVID-19 pandemic and the decline in spending capacity in the SMB part of the market. However, the important role ERM applications play in building resilience and providing a strong foundation for business continuity creates a solid base from which we expect ERM spending to begin to bounce back from an average year. Alongside the need for modernization, the proliferation of digital initiatives, and the innovation in almost every functional market, the European ERM market is on the path of recovery." -- Research Manager Alexandros Stratis, IDC Europe