Enterprise Performance Management Software - United States

In 2024, the projected revenue for the Enterprise Performance Management Software market is estimated to reach US$2.87bn.
This market is expected to demonstrate a compound annual growth rate (CAGR 2024-2029) of 4.06%, resulting in a market volume of US$3.50bn by 2029.
It is worth noting that the average Spend per Employee in this market is projected to be US$16.54 in 2024.
When compared globally, United States is anticipated to generate the highest revenue in the Enterprise Performance Management Software market, reaching US$2.87bn in 2024.
The United States is experiencing a surge in demand for Enterprise Performance Management Software, driven by its robust economy and the need for efficient financial planning and analysis.

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 United States has been experiencing significant growth in recent years, driven by a number of factors.

Customer preferences: Customers in the United States have been increasingly interested in Enterprise Performance Management Software due to its ability to streamline business processes and improve overall performance. This software is particularly popular among larger organizations that have complex financial reporting requirements, as it can help to automate these processes and reduce the risk of errors.

Trends in the market: One of the key trends in the Enterprise Performance Management Software market in United States is the move towards cloud-based solutions. This has been driven by a number of factors, including the increasing availability of high-speed internet connections and the growing popularity of Software-as-a-Service (SaaS) models. Cloud-based solutions offer a number of benefits over traditional on-premises software, including lower upfront costs, greater scalability, and easier maintenance.Another trend in the market is the increasing importance of data analytics. Enterprise Performance Management Software is increasingly being used to collect and analyze data from a wide range of sources, including financial systems, customer relationship management (CRM) systems, and supply chain management systems. This is helping organizations to gain greater insights into their operations and make more informed decisions.

Local special circumstances: The United States is home to a large number of large, multinational corporations, which has helped to drive demand for Enterprise Performance Management Software. These organizations often have complex financial reporting requirements and need to manage large amounts of data, making them ideal candidates for this type of software.

Underlying macroeconomic factors: The strong US economy has also played a role in the growth of the Enterprise Performance Management Software market. As companies have become more profitable, they have been more willing to invest in technology solutions that can help them to improve their operations and increase their competitiveness. Additionally, the low unemployment rate in the United States has made it more difficult for companies to find and retain skilled finance professionals, which has increased the demand for software solutions that can automate financial processes and reduce the need for manual intervention.

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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