Global Enterprise Performance Management Market Size By Deployment (Cloud based, On-premise), By Product (Finance, HR, Supply chain), By Application (BFSI, IT & Telecom, Retail, Manufacturing), By Geographic Scope And Forecast

Enterprise Performance Management Market Size And Forecast

Enterprise Performance Management Market size was valued at USD 5,797.5 Million in 2021 and is projected to reach USD 10,106.4 Million by 2030, growing at a CAGR of 6.50% from 2022 to 2030.

Okay, so here's the dealCompanies are feeling the pressure to be more open about their strategies with everyone on the team, and that push, along with a desire to boost performance and really nail their core business while becoming more scalable, is expected to fuel the growth of the enterprise performance management market worldwide.

Plus, we're seeing a big move towards making decisions based on data, and there's a growing appetite for cloud-based enterprise performance management software. Let's not forget the drive to streamline operations, become more efficient, and meet those ever-increasing regulatory compliance and security demands – all of that's contributing to the market's expansion.

Want the scoop? The Global Enterprise Performance Management Market report gives you a complete look at everything. It breaks down the key pieces, dives into the trends, highlights what's driving (and holding back) growth, and takes a hard look at who's competing and what's shaping the market.

Global Enterprise Performance Management Market Definition

Enterprise Performance Management (EPM) is a process designed to support organizations such as government entities, companies, and non-profit organizations to link their strategies, plans, and execution across the organization structure. In addition, it includes consolidating results and framing annual reports. In addition, it analyses performance and assists in informed decision-making. In addition, EPM software makes it easy to report results to internal and external stakeholders.

Increased demand for business transparency for all employees, increased focus on core business, and improved performance is some of the key drivers of business growth. Furthermore, the rise in the adoption of cloud-based EPM across the globe is expected to provide promising opportunities for this market. The challenges in shifting and implementing data from on-premise to cloud are expected to restrain the market growth in the forecasted period

The players have adopted various strategies to capture the market better. For an instance, Oracle has implemented various security compliance features, such as transport layer security (TLS) for communication, network restricted access, and encrypted passwords for secure EPM automated access. The product feature will enable the companies to have better security and reduce data breaches.

Global Enterprise Performance Management Market Overview

The Global Enterprise Performance Management Market is really taking off! Why? Well, things like the push for digital transformation and automating how companies run their factories and processes are big factors. Plus, cloud-based enterprise performance management? That's looking pretty attractive because it needs less upkeep and doesn't cost as much. Let's face it, the market's a moving target with new business trends, customers changing their minds and habits, and all sorts of tech advancements shaking things up. So, businesses everywhere are scrambling for solutions that are more flexible and mobile to keep up. And guess what? Cloud-based enterprise performance management solutions are stepping up to the plate, offering just that – way more wiggle room and on-the-go access for businesses.

However, complexities involved in the integration of technologies and toolsets for EPM, the influence of implementing digital transformation and automated performance parameters, and the rest of the other factors might strangle the growth of the global market over the forecasted period. Moreover, the technological advancements such as AI and IoT; rising demand from small and medium businesses; the booming it & telecom industry around the world, and other factors are creating new opportunities for the Global Enterprise Performance Management Market to grow soon.

Furthermore, the market leads to suffer a declination in the year 2020 owing to the consideration of the pandemic (COVID- 19) effect on the market. The decline is mainly owing to the economic slowdown. To prevent the spread of the virus the government has imposed a lockdown and advised people to stay indoors to practice social distancing. These factors halted economic activity across the globe. In addition, the impact has adversely affected businesses of different sizes.

The potential adoption of AI and Machine Learning in Enterprise Performance Management might provide the potential opportunity to meet the highest requirements. The introduction of IoT for the Enterprise Performance Management solutions for high performance and greater efficiency in operations will offer lucrative opportunities for the Global Enterprise Performance Management Market.

Global Enterprise Performance Management MarketSegmentation Analysis

The Global Enterprise Performance Management Market is segmented on the basis of Deployment, Product, Application, and Region.

Enterprise Performance Management Market, By Deployment

• Cloud-based• On-premise

When we look at how companies are deploying Enterprise Performance Management (EPM) solutions, we see two main approachesCloud-based and On-premise. In 2021, the Cloud was the most popular choice, and it's expected to keep growing like crazy, at a rate of 83.01% each year! On-Premise solutions were the second most used in 2021, but they're also expected to grow, just at a more modest 7.49%. Companies are really liking cloud-based EPM software because of all the advantages it offers. It lets them use virtual tech hosted by a provider somewhere else. Plus, cloud-based software means you can get to your apps and features whenever and wherever you need them. And, let's not forget, it's easier on the wallet because you don't have to pay a big chunk of money upfront.

Enterprise Performance Management Market, By Product

• Finance• HR• Supply chain• Others

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On the basis of Product, the Global Enterprise Performance Management Market has been segmented into Finance, HR, Supply chain, and Others. Finance accounted for the largest market share in 2021 and is projected to grow at a CAGR of 181.27% during the forecast period. HR was the second-largest market in 2021, it is projected to grow at a CAGR of 6.73%. However, Supply Chain is projected to grow at the highest CAGR of 6.80%.

The demand for Enterprise Performance Management is growing across different industry verticals in financial functions of the businesses; thus, is going to attract the market for better growth. Users and organizations have reaped new benefits from EPM software. Spreadsheets aided accounting and finance employees in obtaining, documenting, and calculating data more quickly.

Enterprise Performance Management Market, By Application

• BFSI• IT & Telecom• Retail• Manufacturing• Healthcare• Others

When we look at the Global Enterprise Performance Management Market by what it's used for, we see it's split into areas like BFSI, IT & Telecom, Retail, Manufacturing, Healthcare, and, well, Others. In 2020, BFSI took the crown with the largest slice of the pie, and it's expected to keep growing fast, maybe even at a rate of 33.63% each year! IT & Telecom was right behind it as the second biggest in 2020, with a predicted growth of around 6.65% annually. But get thisManufacturing is expected to grow the fastest, possibly reaching 7.92% each year. Why BFSI is such a big deal? Well, the need for Enterprise Performance Management is really taking off there, which means it's going to keep attracting investment for even more growth. The BFSI sector is really taking off thanks to things like changing populations, more factories, new tech, and the rise of digital banking across the globe. And technology overall? It's changing all the time as more people use it, companies invest in new ideas, and so on.

Enterprise Performance Management Market, By Geography

• North America• Europe• Asia Pacific• Latin America• Middle East & Africa

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Looking at where in the world the market is strongest, we've broken it down into regionsNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S. led the way in 2021, holding the biggest slice of the pie, and we expect it to keep growing at a rate of 4.86% each year. Canada came in second place in 2021, but it's actually predicted to grow even faster, at a CAGR of 6.81%! Shifting over to Asia, China grabbed the largest market share back in 2020, and they're projected to keep growing the quickest, with a CAGR of 7.70%. Japan followed behind as the second-largest market in 2020, and they're also expected to see healthy growth, around 6.57% per year.

Key Players

The “Global Enterprise Performance Management Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are IBM, Workday, Anaplan, Unicom Systems, Planful, Unit4, Epicor Software, Oracle, SAP, Infor, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.

Key Developments

• Workday announced it had achieved Ready status for the Federal Risk and Authorization Management Program (FedRAMP) at a Moderate impact level• With this achievement, Workday materially advances its position to help federal agencies accelerate IT transformation.

• Anaplan welcomes new partners in AMER and APAC to help global businesses realize the benefits of Connected Planning.

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We dive deep into the market, looking at both the numbers and the more human side of things by breaking it down into different groups using economic and non-economic factors. We'll give you the market value in USD Billion for each of these segments and sub-segments. You'll find out which region and segment is predicted to grow the fastest and be the biggest player. We'll also analyze each region to see how much of the product/service they're using and what's influencing the market there. Plus, we'll map out the competitive scene, showing you who the major players are, their market ranking, and what they've been up to in the last five years – new launches, partnerships, expansions, and acquisitions. You'll get detailed company profiles, including overviews, insights, product benchmarking, and SWOT analysis for these key companies. We'll also give you our view on the current and future state of the industry, considering recent developments like growth opportunities, drivers, challenges, and restraints in both emerging and developed regions. We use Porter's five forces analysis to give you an in-depth look at the market from different angles. You'll get a peek into the market's Value Chain, a look at the market dynamics, and potential growth opportunities in the future. Oh, and we also throw in 6 months of analyst support after the sale!

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