The global enterprise performance management market was led by the North America in 2016, and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth, registering a CAGR of 15.70% during the forecast period.
Enterprise performance management (EPM) Market is the process of monitoring performance across the enterprise with the goal of improving business performance. An EPM software integrates and analyzes data from various sources, which include front office and back office applications, data warehouses, and external data sources.
Advanced EPM systems support many performance methodologies and features such as the balanced scorecard, dashboards, and user-friendly handles to track the data of performance-related processes across all the department, including finance, sales, human resources, marketing, and others. EPM includes management processes such as budgeting, planning, forecasting, modeling, consolidating results & closing books on periodic basis, reporting results to internal & external stakeholders, and analyzing performance based on plan, divisions, or products.
EPM software aids to drive accountability across the enterprise by aligning financial, strategic, and operational goals, extending budgeting participants and permitting managers with additional timely information. Other indicators that are used as a measure in EPM software are return on investment (ROI), revenue costs, overhead costs, and operational costs.
The global enterprise performance management market is expected to witness significant growth during the forecast period, owing to rise in need for making business strategy transparent to all employees, increased focus on core business & improve scalability, and rise in need to improve business performance. In addition, the ability to spend more time analyzing financial data instead of overseeing a finance system drives the growth of the market.
Moreover, lack of planning accuracy & outcome predictability fuels the market growth. Furthermore, rise in demand for cloud-based EPM software is anticipated to offer lucrative opportunities in the coming years for the market growth across the globe.
However, implementation risks and shifting of workload from on premise to cloud restrain the market growth.
The global enterprise performance management market is segmented based on component, deployment, function, industry vertical, and geography. By component, the market is divided into software and services.
Depending on deployment, it is categorized into on-premise and cloud. On the basis of function, it is fragmented into finance, human resource (HR), supply chain, and others.
According to industry vertical, it is classified into BFSI, IT & telecom, retail, manufacturing, healthcare, energy & utilities, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the enterprise performance management market are Adaptive Insights Inc., Anaplan, Inc., BOARD International S.A., Host Analytics Inc., IBM Corporation, Infor Inc., Oracle, SAP SE, CCH Tagetik (Wolters Kluwer NV), Workiva, and Epicor Software Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global enterprise performance management market along with current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- Quantitative analysis from 2016 to 2025 is provided to determine the market potential.
KEY MARKET SEGMENTS
- Supply Chain
BY INDUSTRY VERTICAL
- IT & Telecom
- Energy & Utilities
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
KEY MARKET PLAYERS
- Adaptive Insights Inc.
- Anaplan, Inc.
- BOARD International S.A.
- Host Analytics Inc.
- IBM Corporation
- Infor Inc.
- SAP SE
- CCH Tagetik (Wolters Kluwer NV)
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