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Enterprise Performance Management Software - Eastern Asia

Eastern Asia
  • In 2024, the Enterprise Performance Management Software market in Eastern Asia is anticipated to generate a revenue of US$281.00m.
  • Looking ahead, the market is expected to witness a steady annual growth rate (CAGR 2024-2029) of 3.83%, resulting in a market volume of US$339.10m by 2029.
  • The projected average Spend per Employee in this market segment is set to reach US$0.31 in 2024.
  • In a global context, United States is projected to generate the highest revenue, with an estimated amount of US$2.87bn in 2024.
  • In Eastern Asia, China is experiencing a surge in demand for Enterprise Performance Management Software as businesses prioritize 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.

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In-Scope

  • 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

Out-Of-Scope

  • 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
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Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Jul 2024

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Enterprise Performance Management Software market in Eastern Asia has been experiencing steady growth in recent years.

    Customer preferences:
    Customers in Eastern Asia have shown a preference for cloud-based Enterprise Performance Management Software solutions due to their flexibility, scalability, and ease of implementation. Additionally, there is a growing demand for software that can integrate with other business systems and provide real-time data analysis and reporting capabilities.

    Trends in the market:
    China has emerged as the largest market for Enterprise Performance Management Software in Eastern Asia, driven by the country's rapid economic growth and increasing adoption of technology in business operations. Japan and South Korea are also significant markets, with a focus on software solutions that can improve financial planning and analysis processes.

    Local special circumstances:
    In Japan, there is a cultural emphasis on precision and accuracy in financial reporting, which has led to a demand for software that can provide detailed and accurate financial data analysis. In South Korea, there is a focus on improving business performance through data-driven decision-making, which has driven demand for software that can provide real-time performance insights.

    Underlying macroeconomic factors:
    The growth of the Enterprise Performance Management Software market in Eastern Asia is closely tied to the region's economic development and increasing adoption of technology in business operations. Additionally, government initiatives aimed at promoting the adoption of digital technologies in businesses have also played a role in driving market growth. However, the market is also facing challenges such as data privacy concerns and the need for skilled professionals to implement and maintain software solutions.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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