Enterprise Performance Management Market
Rising data-driven decision-making in the organization are driving the growth of the enterprise performance management market.
PORTLAND, PORTLAND, OR, UNITED STATE, June 2, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Enterprise Performance Management Market Reach USD 12,562 Million by 2025 | Top Players such as – Infor, IBM and Workiva.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global enterprise performance management market was valued at USD 4,738 million in 2016, and is projected to reach USD 12,562 million by 2025, growing at a CAGR of 11.70% from 2018 to 2025.
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Rise in need for making business strategy transparent to all employees, increased focus on core business & improved scalability, and need to improve business performance drive the growth of the global enterprise performance management market. In addition, surge in adoption of cloud-based EPM and rise in demand for mobility are expected to provide numerous opportunities for the growth of the market. However, implementations risks and shifting of workload from on premise to cloud hamper 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. On the basis of deployment, it is categorized into on-premise and cloud. Depending on the 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.
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The BFSI segment led the market in 2016, and is expected to dominate in the near future. However, the energy & utility segment is expected to grow at a significant pace during the forecast period. Furthermore, North America is expected to dominate the overall market during the forecast period, as it experiences the highest demand for enterprise performance management software.
Based on industry vertical, the BFSI segment led the enterprise performance management market in 2016, and is projected to maintain its dominance in the future. However, the energy & utilities segment is expected to witness the highest growth, owing to its increased need of transparency of strategies among all the employees for improving the productivity.
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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.
The global enterprise performance management market is dominated by key players such as Adaptive Insights Inc., Anaplan, Inc., BOARD International S.A., Host Analytics Inc., IBM Corporation, Infor Inc., Oracle, SAP SE, CCH Tagetik (Wolters Kluwer NV), and Workiva.
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Key Findings of the Enterprise Performance Management Market:
● The services segment is expected to exhibit significant increase in terms of revenue during the forecast period.
● In 2016, the BFSI segment accounted for the highest revenue among the other industry verticals.
● Finance segment accounted the highest revenue in 2016 among other functions.
● North America generated the highest revenue in 2016.
● Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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