Enterprise Performance Management Software - North America

In 2024, the projected revenue in the Enterprise Performance Management Software market in North America is estimated to reach US$3.07bn.
It is expected to experience an annual growth rate of 4.10% from 2024 to 2029, resulting in a market volume of US$3.75bn by 2029.
Additionally, the average Spend per Employee in this market is projected to reach US$12.02 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue, with an estimated amount of US$2.87bn in 2024.
The adoption of Enterprise Performance Management Software is rapidly increasing in North America, driving improved financial planning and analysis capabilities 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.

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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 North America has been experiencing steady growth in recent years.

Customer preferences: Customers in North America are increasingly looking for enterprise performance management software solutions that are user-friendly, scalable, and customizable to their specific business needs. They also want software that can integrate with other systems and provide real-time data analytics and reporting.

Trends in the market: One major trend in the North American Enterprise Performance Management Software market is the shift towards cloud-based solutions. This is due to the many benefits that cloud-based software offers, including lower costs, greater flexibility, and easier scalability. Another trend is the increasing use of artificial intelligence and machine learning technologies to enhance the software's capabilities and improve decision-making.

Local special circumstances: North America is a highly competitive market, with many established players and new entrants vying for market share. This has led to a focus on innovation and differentiation, with companies looking to offer unique features and capabilities to stand out from the competition.

Underlying macroeconomic factors: The North American market is being driven by a number of macroeconomic factors, including a growing economy, increasing adoption of digital technologies, and a focus on data-driven decision-making. Additionally, the COVID-19 pandemic has accelerated the adoption of enterprise performance management software, as companies look for ways to manage their operations remotely and make more informed decisions in a rapidly changing business environment.

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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