Global Corporate Performance Management (CPM) Software Market Size By Product Type, By Deployment, By Organization, By Geographic Scope And Forecast
Global Corporate Performance Management (CPM) Software Market Size By Product Type, By Deployment, By Organization, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Corporate Performance Management (CPM) Software Market Size And Forecast
Corporate Performance Management (CPM) Software Market size was valued at USD 8887.60 Million in 2023 and is projected to reach USD 22559.50 Million by 2030, growing at a CAGR of 16.8% during the forecast period 2024-2030.
Global Corporate Performance Management (CPM) Software Market Drivers
The market drivers for the Corporate Performance Management (CPM) Software Market can be influenced by various factors. These may include
The importance of data-driven decision making is growingA rising number of companies are in need of CPM software, which makes data analysis, reporting, and performance monitoring easier, as they realise how important data is to decision-making.
Increasingly Intricate Business ProcessesOrganisations are looking for CPM solutions to streamline their financial and operational processes in order to enable better management and control as a result of the growth and complexity of corporate operations.
Globalization of EnterprisesBusinesses have become more diversified and dispersed as a result of globalisation. A centralised platform for managing and aligning performance goals across many business divisions and regions is offered by CPM software to organisations.
Needs for Regulatory ComplianceAdoption of CPM software is prompted by strict regulatory requirements across a range of businesses, which aim to guarantee compliance, accurate financial reporting, and industry standards observance.
Put an emphasis on efficiency and cost reductionBusinesses are always searching for methods to reduce expenses and boost productivity. CPM systems help businesses achieve these goals by providing tools for forecasting, budgeting, and performance analytics.
Technological ProgressThe development of more complex and feature-rich CPM software solutions is facilitated by technological advancements, notably in fields like cloud computing, artificial intelligence, and big data analytics. These solutions draw in companies searching for cutting-edge instruments.
Increasing Knowledge of the Advantages of Performance ManagementA growing number of companies are realising the advantages of good performance management and are recognising CPM software as a strategic instrument for decision-making, goal alignment, and performance enhancement.
Including Enterprise Resource Planning (ERP) Systems in IntegrationOrganisations seeking a comprehensive and seamless approach to controlling their business performance find CPM software more appealing due to its integration capabilities with pre-existing ERP systems and other enterprise software solutions.
Global Corporate Performance Management (CPM) Software Market Restraints
Several factors can act as restraints or challenges for the Corporate Performance Management (CPM) Software Market. These may include
Costs of ImplementationThe initial outlay for putting CPM software into place can be high and includes charges for customisation, licencing, and training. This could serve as a financial constraint for smaller businesses.
Complexity of IntegrationIt might be difficult to integrate CPM software with databases and corporate systems that are already in place. Businesses could have difficulties guaranteeing a smooth integration, which could result in possible disturbances to corporate procedures.
Opposition to ChangeStaff members and supervisors could be reluctant to implement new technology or alter long-standing procedures. Implementing and using CPM software inside an organisation might be slowed down by resistance to change.
Data Security IssuesBecause CPM software handles sensitive financial and operational data, worries regarding data security and privacy might be a major limitation. To win over customers’ trust and adhere to legal requirements, businesses must solve these issues.
Challenges with CustomisationEvery organisation has different needs when it comes to reporting and analysis. Certain CPM software can not be as customisable as others, which makes it difficult to fulfil particular corporate demands.
Problems with ScalabilityAs companies expand, CPM software scalability becomes essential. Performance may be impacted by certain systems’ inability to handle the growing amount of data and user demands.
Absence of Skilled WorkersIt is frequently necessary for workers to possess specialised knowledge and abilities in order to use CPM software effectively. Insufficient numbers of proficient experts in this domain may impede the effective execution and application.
Regulatory ComplianceCPM software needs to abide by a number of industry standards because businesses operate in a regulated environment. It can be difficult to stay on top of changes in legal standards and make sure software is compliant.
Global Corporate Performance Management (CPM) Software Market Segmentation Analysis
The market is segmented on the basis of Product Type, Deployment, Organization Size, and Geography.
Corporate Performance Management (CPM) Software Market, By Product Type
Planning and BudgetingAssists companies in developing financial models, projections, and budgets.
Analytics & ReportingOffers resources for gathering, examining, and summarizing financial data.
Consolidation & CloseStreamlines and automates the accounting closure procedure.
Workflow and IntegrationEstablishes a link between CPM software and other business systems.
Corporate Performance Management (CPM) Software Market, By Deployment
On-PremisePrograms set up and operated on the business’s servers.
CloudSoftware that may be accessed online, usually through a subscription.
Corporate Performance Management (CPM) Software Market, By Organization Size
Small & Medium Businesses (SMBs)Simpler, more reasonably priced CPM software options for small and medium-sized businesses (SMBs).
Larger businessesCPM software with more features and complexity.
Corporate Performance Management (CPM) Software Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Corporate Performance Management (CPM) Software Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major keyplayers in the Corporate Performance Management (CPM) Software Market are
Oracle Corporation
SAP SE
IBM Corporation
Microsoft Corporation
Adaptive Insights (a Workday company)
Anaplan, Inc.
SAS Institute Inc.
Infor Inc.
Cognizant Technology Solutions
Board International SA
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Oracle Corporation, SAP SE, IBM Corporation, Microsoft Corporation, Adaptive Insights (a Workday company), Anaplan, Inc., SAS Institute Inc., Infor Inc., Cognizant Technology Solutions, Board International SA
SEGMENTS COVERED
By Product Type, By Deployment, By Organization Size, and By Geography.
CUSTOMIZATION SCOPE
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