Enterprise Performance Management Software - Bangladesh

The Enterprise Performance Management Software market in Bangladesh is anticipated to witness a significant growth in revenue, with projections indicating a reach of US$6.51m by the year 2024.
Moreover, it is expected that the market will exhibit a steady annual growth rate of 11.27% (CAGR 2024-2029), resulting in a substantial expansion to a market volume of US$11.10m by 2029.
Furthermore, the average Spend per Employee in the Enterprise Performance Management Software market is projected to reach US$0.08 by 2024.
This metric serves as a key indicator of the level of investment and adoption of such software within the enterprise sector in Bangladesh.
In terms of global comparison, it is noteworthy that United States is expected to generate the highest revenue in the Enterprise Performance Management Software market, with an estimated value of US$2.87bn in 2024.
This highlights the dominance and significance of the US market in this particular segment.
Bangladesh's growing demand for Enterprise Performance Management Software reflects the country's increasing focus on improving business performance and decision-making capabilities.

Definition:

The Enterprise Performance Management Software market covers software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy. These solutions typically include features for financial planning and analysis, budgeting, forecasting, and consolidation. These are primarily focused on providing insights and strategic guidance to help organizations make informed decisions and achieve their long-term goals.

Products in the Enterprise Performance Management Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Enterprise Performance Management Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include Oracle. SAP, Anaplan, IBM, and Workday.

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Performance management software, such as PerformYard, Engagedly, Leapsome, BambooHR, SAP SuccessFactors, Paylocity, and Workday
Financial planning and budgeting, such as SAP, Workday, and Centage (Budget Maestro)
Strategic planning and modeling, such as Workday Adaptive Planning, Jedox, and Host Analytics

Administrative software, such as ADP, Gusto, Workday, and SAP
Office software, such as Microsoft, Google, and Zoho
Collaboration software, such as Google, Slack, and Zoom

The Enterprise Performance Management Software market in Bangladesh has been steadily growing in recent years.

Customer preferences: Bangladesh's business landscape has been rapidly evolving, with companies increasingly looking for ways to streamline their operations and improve their financial performance. Enterprise Performance Management Software is seen as a valuable tool in achieving these goals, as it allows companies to more effectively manage their finances, plan and forecast future performance, and make data-driven decisions.

Trends in the market: One of the key trends in the Enterprise Performance Management Software market in Bangladesh is the growing demand for cloud-based solutions. Cloud-based software is becoming increasingly popular in the country due to its affordability, scalability, and ease of use. Additionally, there is a growing trend towards the integration of different software applications, with companies looking for solutions that can seamlessly integrate with their existing systems.Another trend in the market is the increasing adoption of mobile technology. With more and more people in Bangladesh using smartphones and tablets, companies are looking for software solutions that can be accessed from anywhere, at any time. As a result, many Enterprise Performance Management Software providers are developing mobile applications that allow users to access their software from their mobile devices.

Local special circumstances: One of the unique challenges facing the Enterprise Performance Management Software market in Bangladesh is the country's relatively low level of technological infrastructure. While the country has made significant progress in recent years, there are still many areas where internet connectivity and other technological resources are limited. This can make it difficult for companies to fully leverage the benefits of Enterprise Performance Management Software, particularly cloud-based solutions.

Underlying macroeconomic factors: Bangladesh's economy has been growing steadily in recent years, with a strong focus on developing the country's infrastructure and attracting foreign investment. This has created a favorable business environment for Enterprise Performance Management Software providers, as companies are increasingly looking for ways to improve their financial performance and stay competitive in the market. Additionally, the country's young and tech-savvy population is driving demand for more advanced software solutions, including Enterprise Performance Management Software.

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.

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