Enterprise Performance Management Software - China

The Enterprise Performance Management Software market in China is expected to experience significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$217.40m.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 9.37%, resulting in a market volume of US$340.30m by 2029.
In terms of spending, the average Spend per Employee in the Enterprise Performance Management Software market is projected to reach US$0.28 in 2024.
This indicates that companies in China are investing heavily in this software to enhance their performance and efficiency.
When compared globally, United States is expected to generate the highest revenue in the Enterprise Performance Management Software market.
In 2024, the revenue United States is projected to reach a staggering US$2.87bn.
This highlights the dominance of the United States in this market segment.
Overall, the Enterprise Performance Management Software market in China is poised for substantial growth, and with its strong focus on technology and innovation, it has the potential to become a key player in this industry.
China's growing demand for Enterprise Performance Management Software reflects its commitment to enhance business performance and drive strategic 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.

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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 China has been experiencing significant growth in recent years.

Customer preferences: Chinese companies are increasingly recognizing the need for effective Enterprise Performance Management Software to improve their business operations. The software is used to streamline financial planning and analysis, budgeting, forecasting, and other critical business processes. Furthermore, Chinese companies are becoming more sophisticated and demanding in their software requirements, leading to a growing demand for more advanced and customizable software solutions.

Trends in the market: One of the key trends in the Enterprise Performance Management Software market in China is the increasing adoption of cloud-based software solutions. This is due to the numerous benefits of cloud-based software, including lower upfront costs, greater flexibility, and easier scalability. Another trend is the growing use of artificial intelligence and machine learning in Enterprise Performance Management Software. These technologies are being used to automate repetitive tasks, improve accuracy, and provide more advanced analytics and insights.

Local special circumstances: One of the unique challenges facing the Enterprise Performance Management Software market in China is the country's complex regulatory environment. Chinese companies must comply with a wide range of regulations related to financial reporting, data privacy, and other areas. This has led to a growing demand for software solutions that can help companies navigate these regulations more easily. Additionally, many Chinese companies have unique business practices and cultural norms that must be taken into account when developing and implementing Enterprise Performance Management Software.

Underlying macroeconomic factors: The growth of the Enterprise Performance Management Software market in China is being driven by a number of macroeconomic factors. One of the most important is the country's rapid economic growth, which has led to a growing demand for more advanced business software solutions. Additionally, the Chinese government has been actively promoting the development of the country's technology sector, which has helped to spur innovation and investment in the Enterprise Performance Management Software market. Finally, the growing sophistication of Chinese companies and their increasing focus on improving business operations has created a strong demand for more advanced and customizable software solutions.

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.

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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.