Key regions: China, Germany, United States, United Kingdom, Canada
The Enterprise Performance Management Software market in Thailand has been experiencing steady growth in recent years.
Customer preferences: Thai companies are increasingly adopting Enterprise Performance Management Software to improve their financial performance and decision-making processes. This is due to the increasing complexity of business operations and the need for real-time data analysis. Furthermore, Thai companies are becoming more aware of the benefits of cloud-based EPM solutions, which offer greater flexibility and scalability.
Trends in the market: One of the key trends in the Thai EPM market is the increasing demand for integrated solutions that can handle multiple functions, such as financial planning, budgeting, forecasting, and reporting. This is driving the development of more comprehensive EPM suites that can provide end-to-end support for financial management. Another trend is the growing use of advanced analytics and business intelligence tools to extract insights from large datasets.
Local special circumstances: The Thai EPM market is highly competitive, with both local and international vendors vying for market share. Local vendors have an advantage in terms of understanding the local business environment and regulatory landscape, while international vendors offer a wider range of product features and capabilities. In addition, Thai companies are often more focused on cost than on functionality, which can make it difficult for vendors to differentiate themselves based on product features alone.
Underlying macroeconomic factors: Thailand's economy has been steadily growing in recent years, with a focus on export-oriented industries such as automotive, electronics, and tourism. This has driven demand for EPM solutions that can help companies manage complex supply chains and global operations. In addition, the Thai government has been promoting digital transformation as part of its Thailand 4.0 initiative, which has led to increased investment in technology infrastructure and digital capabilities. This has created a favorable environment for EPM vendors, as Thai companies are increasingly looking to adopt digital solutions to stay competitive.
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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