Enterprise Performance Management Software - Laos

The Enterprise Performance Management Software market is anticipated to witness a significant growth in revenue in Laos.
By the year 2024, it is projected to reach US$230.00k.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 6.07%, resulting in a market volume of US$308.80k by 2029.
Moreover, the average Spend per Employee in the Enterprise Performance Management Software market is estimated to be US$0.07 in 2024.
When compared globally, United States is expected to generate the highest revenue, amounting to US$2.87bn in 2024.
The adoption of Enterprise Performance Management Software in Laos is steadily increasing, driving improved financial planning and strategic decision-making for businesses.

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 Laos is experiencing steady growth due to a number of factors.

Customer preferences: Laotian businesses are increasingly recognizing the importance of data-driven decision making and are therefore seeking out Enterprise Performance Management Software solutions to help them manage their financial and operational data. Additionally, the growing trend of remote work has increased the demand for cloud-based EPM software solutions that can be accessed from anywhere.

Trends in the market: One of the key trends in the Laotian EPM software market is the increasing adoption of cloud-based solutions. This is due to the flexibility and scalability that cloud-based solutions offer, as well as the fact that they require less upfront investment than on-premise solutions. Another trend is the growing popularity of mobile EPM solutions, which allow users to access critical financial and operational data on-the-go.

Local special circumstances: Laos is a developing country with a relatively small economy, and as such, many Laotian businesses are small and medium-sized enterprises (SMEs). These businesses often have limited resources to invest in expensive EPM software solutions, and as a result, there is a growing demand for affordable EPM solutions that can meet their needs.

Underlying macroeconomic factors: Laos has experienced steady economic growth in recent years, which has helped to drive demand for EPM solutions as businesses seek to manage their finances and operations more efficiently. Additionally, the Laotian government has made efforts to promote the country as a destination for foreign investment, which has helped to attract multinational corporations that require sophisticated EPM solutions to manage their operations.

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.