The ERP software market has seen a lot of growth in the past decade. In 2010, the market for ERP solutions was estimated to be over $21 billion. By 2018, the global ERP software market was valued at $35.81 billion.
A lot of that rapid growth has to do with recent advances in manufacturing and technology. Here are some trends we expect to continue into the new decade and shape the ERP industry.
Taking Things to the Cloud
The implementation and dominance of Cloud ERP has been a growing trend for years now, and there are no signs that is going to change.
Cloud-based ERP platforms are becoming faster and easier to deploy. For example, Cre8tive Technology & Design was able to implement a new cloud-based ERP system for a client in under 90 days this year.
Cloud-based systems also make implementing updates easier, while offering better security for your proprietary information.
Additive Manufacturing Becoming More Prevalent
Additive Manufacturing, also known as 3D printing is becoming more commonplace as the price of technology becomes more affordable.
While additive manufacturing can make producing small parts for customers, it also creates more logistics that you will have to keep track of. You will want to make sure your ERP system can handle the additional data that will be created, and ensure it is secure to prevent a data breach that could expose your business.
Internet of Things and Smarter AI
Just as the Internet of Things has become more prevalent in everyday life, expect it to become more integrated into ERP software. Smart sensors can track information and products in real time along the assembly line and automatically record that information into your ERP system, making it easier to track the manufacturing process.
IoT also provides the potential of no longer needing to forecast your need for raw materials. Your inventory can be integrated with your ERP platform to automatically order materials or parts that you need, without having to make estimates of what you will need to complete projects.
Work with Cre8tive Technology & Design this Decade
Get ready for the next decade with a trustworthy ERP provider in Cre8tive Technology & Design. As the Epicor Global Partner of the Year, we have the proven experience necessary for adapting to technological advances in the manufacturing industries. Contact us today to see how we can tailor ERP solutions to your business needs.