Market Insights Technology Software Enterprise Software

Enterprise Performance Management Software - ASEAN

ASEAN

The projected revenue in the Enterprise Performance Management Software market for ASEAN is expected to reach US$64.97m in 2024.
This market segment is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 6.53%, resulting in a market volume of US$89.16m by 2029.
Moreover, the average Spend per Employee in the Enterprise Performance Management Software market is projected to reach US$0.19 in 2024.
In a global comparison, United States is expected to generate the highest revenue, reaching US$2,867.00m in 2024.
In the ASEAN market, the adoption of Enterprise Performance Management Software is rapidly increasing, as companies seek to improve their financial planning and analysis capabilities.

Key regions: China, Germany, United States, United Kingdom, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Enterprise Performance Management Software market in ASEAN has been experiencing significant growth over the last few years.

Customer preferences: Enterprises in ASEAN have been increasingly adopting Enterprise Performance Management Software to streamline their financial planning and analysis processes. This software provides a range of services including budgeting, forecasting, and financial consolidation, which helps companies to make more informed decisions. Additionally, the software is highly customizable, enabling companies to tailor solutions to their specific needs.

Trends in the market: Indonesia, the Philippines, and Thailand have been the fastest-growing markets for Enterprise Performance Management Software in ASEAN. In Indonesia, the growth of the market has been driven by the country's rising middle class, which has led to increased demand for financial planning and analysis tools. In the Philippines, the market has been driven by the country's rapidly expanding business process outsourcing industry. In Thailand, the market has been driven by the government's efforts to modernize the country's financial sector.

Local special circumstances: One of the unique aspects of the Enterprise Performance Management Software market in ASEAN is the high level of competition. There are a large number of local and international vendors offering solutions, which has led to intense price competition. Additionally, many companies in ASEAN have been hesitant to adopt cloud-based solutions due to concerns around data security.

Underlying macroeconomic factors: The growth of the Enterprise Performance Management Software market in ASEAN can be attributed to several macroeconomic factors. Firstly, the region's strong economic growth has led to increased demand for financial planning and analysis tools. Secondly, the increasing adoption of cloud-based solutions has made Enterprise Performance Management Software more accessible to companies of all sizes. Finally, the rise of big data and analytics has made it easier for companies to analyze and interpret large amounts of financial data, which has increased the demand for Enterprise Performance Management Software.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.