Enterprise Performance Management Software - Saudi Arabia

The Enterprise Performance Management Software market in Saudi Arabia is estimated to generate a revenue of US$12.03m by the year 2024.
It is expected to experience a compound annual growth rate (CAGR) of 5.29% from 2024 to 2029, resulting in a market volume of US$15.57m by 2029.
The average Spend per Employee in this market segment is projected to reach US$0.73 in 2024.
In terms of global comparison, United States is anticipated to generate the highest revenue with US$2.87bn in 2024.
Saudi Arabia is experiencing a growing demand for Enterprise Performance Management Software, as businesses strive to optimize their financial and operational performance.

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 Saudi Arabia has been experiencing significant growth in recent years.

Customer preferences: Saudi Arabian businesses are increasingly recognizing the importance of data analysis and performance management in driving growth and competitiveness. As a result, there is growing demand for Enterprise Performance Management Software solutions that can help businesses to optimize their operations and improve decision-making processes.

Trends in the market: One of the key trends in the Enterprise Performance Management Software market in Saudi Arabia is the growing adoption of cloud-based solutions. Cloud-based solutions offer businesses a range of benefits, including greater flexibility, scalability, and cost-effectiveness. As a result, many businesses in Saudi Arabia are now looking to migrate their Enterprise Performance Management Software solutions to the cloud.Another trend in the market is the increasing focus on predictive analytics. Predictive analytics can help businesses to forecast future trends and identify potential risks and opportunities, allowing them to make more informed decisions. As a result, there is growing demand for Enterprise Performance Management Software solutions that incorporate predictive analytics capabilities.

Local special circumstances: One of the key factors driving the growth of the Enterprise Performance Management Software market in Saudi Arabia is the government's Vision 2030 program. The program aims to diversify the Saudi Arabian economy and reduce the country's dependence on oil revenues. As part of this program, the government is investing heavily in digital infrastructure and encouraging the adoption of new technologies, including Enterprise Performance Management Software solutions.

Underlying macroeconomic factors: Saudi Arabia's economy is heavily dependent on the oil industry, which has been experiencing significant volatility in recent years. As a result, many businesses in the country are looking to diversify their operations and reduce their reliance on oil revenues. Enterprise Performance Management Software solutions can help businesses to optimize their operations and improve their financial performance, making them an attractive investment for businesses looking to diversify 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.

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