Enterprise Performance Management Software - G7

The projected revenue in the Enterprise Performance Management Software market for the year 2024 is estimated to reach US$3.90bn.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.02%, leading to a market volume of US$4.74bn by the year 2029.
The average Spend per Employee in this market is projected to be US$9.67 in 2024.
In comparison to other countries, United States is anticipated to generate the highest revenue, amounting to US$2.87bn in 2024.
The United States is a member of the G7, a group of influential economies.
In the United States, there is a growing demand for Enterprise Performance Management Software to optimize financial planning and analysis processes.

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 G7 countries is experiencing steady growth due to the increasing demand for business performance management solutions.

Customer preferences: Customers in G7 countries prefer EPM solutions that offer advanced analytics, real-time data visualization, and forecasting capabilities. The need for cloud-based solutions is also on the rise as it provides flexibility, scalability, and cost-effectiveness. Additionally, customers are looking for solutions that integrate with other business applications to streamline processes and improve efficiency.

Trends in the market: The EPM software market in the G7 countries is witnessing a shift towards predictive analytics and artificial intelligence (AI). Predictive analytics helps companies to forecast business outcomes and make informed decisions, while AI-powered solutions enable automation of routine tasks and provide insights into complex data sets. Furthermore, there is a growing trend towards mobile-based EPM solutions as it allows employees to access real-time data and insights on-the-go.

Local special circumstances: In the United States, the EPM software market is dominated by large players such as Oracle, SAP, and IBM. However, there is also a growing trend towards niche players that offer specialized solutions for specific industries. In Japan, the market is driven by the need for cost-effective solutions that can handle large amounts of data. In the United Kingdom, Brexit has created uncertainty in the market, leading to a cautious approach towards technology investments.

Underlying macroeconomic factors: The G7 countries are experiencing economic growth, which is driving the demand for EPM solutions. The increasing adoption of cloud-based solutions is also contributing to the growth of the market as it reduces the overall cost of ownership. Additionally, the need for regulatory compliance and risk management is driving the adoption of EPM solutions in industries such as banking and finance. Overall, the EPM software market in G7 countries is expected to continue its growth trajectory in the coming years.

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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