Enterprise Performance Management Software - Central Asia

The Enterprise Performance Management Software market in Central Asia is expected to witness significant growth in the coming years.
According to projections, the revenue is set to reach US$11.82m in 2024.
Furthermore, the market is anticipated to experience a steady annual growth rate (CAGR 2024-2029) of 8.31%, resulting in a market volume of US$17.61m by 2029.
When it comes to spending per employee in the Enterprise Performance Management Software market, the average is projected to reach US$0.37 in 2024.
This indicates that businesses in Central Asia are investing in software solutions to enhance their performance management capabilities.
In terms of global comparison, United States is expected to generate the highest revenue in the Enterprise Performance Management Software market, reaching US$2.87bn in 2024.
This further emphasizes the dominance of the US market in this sector.
Central Asia's growing demand for Enterprise Performance Management Software reflects the region's increasing focus on business efficiency and data-driven decision-making.

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.

For more information on the displayed data, use the info button right next to the boxes.

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 Central Asia is showing signs of growth in recent years.

Customer preferences: Central Asian businesses are increasingly turning to Enterprise Performance Management Software to optimize their financial planning and budgeting. This software allows companies to manage their financial resources more effectively, providing real-time insights into business performance and helping to identify areas for improvement. Additionally, the software's ability to automate financial processes reduces the risk of errors and frees up time for employees to focus on more strategic tasks.

Trends in the market: One of the main trends in the Enterprise Performance Management Software market in Central Asia is the increasing adoption of cloud-based solutions. Cloud-based software is more flexible and cost-effective than on-premise solutions, making it an attractive option for businesses of all sizes. Additionally, the COVID-19 pandemic has accelerated the adoption of cloud-based software, as remote work has become more prevalent.Another trend in the market is the growing demand for mobile-friendly solutions. With more employees working remotely, mobile access to financial data has become increasingly important. As a result, many software vendors are developing mobile apps that allow users to access financial data on-the-go.

Local special circumstances: Central Asia is a diverse region with varying levels of economic development. While some countries in the region, such as Kazakhstan and Uzbekistan, have seen significant economic growth in recent years, others, such as Tajikistan and Kyrgyzstan, continue to face economic challenges. This has led to differences in the adoption of Enterprise Performance Management Software across the region. In more developed countries, businesses are more likely to adopt advanced software solutions, while in less developed countries, businesses may be more focused on basic financial management tools.

Underlying macroeconomic factors: The growth of the Enterprise Performance Management Software market in Central Asia is being driven by several macroeconomic factors. One such factor is the region's growing middle class, which is driving demand for more sophisticated financial management tools. Additionally, the region's increasing integration into the global economy is leading to greater competition and a greater need for businesses to optimize their financial performance. Finally, the COVID-19 pandemic has accelerated the adoption of digital technologies across the region, 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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.