Enterprise Performance Management Software - Vietnam

The Enterprise Performance Management Software market in Vietnam is projected to reach a revenue of US$4.03m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.15%, resulting in a market volume of US$5.96m by 2029.
Additionally, the average Spend per Employee in the Enterprise Performance Management Software market is projected to be US$0.07 in 2024.
When compared globally, United States is anticipated to generate the highest revenue of US$2.87bn in 2024.
Vietnam is experiencing a growing demand for Enterprise Performance Management Software, with businesses recognizing the need for efficient performance tracking and strategic decision-making tools.

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

Vietnam, a rapidly developing country in Southeast Asia, has been experiencing a significant growth in the Enterprise Performance Management Software market in recent years.

Customer preferences: Vietnamese businesses have been increasingly adopting Enterprise Performance Management Software to streamline their operations, enhance their decision-making processes, and maximize their profits. With the rise of digitalization and the growing demand for data-driven solutions, more companies in Vietnam are recognizing the benefits of using Enterprise Performance Management Software to improve their financial planning, budgeting, forecasting, and reporting capabilities. Additionally, the COVID-19 pandemic has accelerated the need for remote work and online collaboration, which has further fueled the adoption of Enterprise Performance Management Software in Vietnam.

Trends in the market: One of the key trends in the Enterprise Performance Management Software market in Vietnam is the growing demand for cloud-based solutions. Cloud-based Enterprise Performance Management Software offers several advantages over on-premise solutions, including lower costs, greater flexibility, and easier scalability. As more Vietnamese companies seek to optimize their operations and reduce their IT expenses, cloud-based Enterprise Performance Management Software has become an increasingly popular choice.Another trend in the market is the emergence of mobile Enterprise Performance Management Software. With the widespread use of smartphones and tablets in Vietnam, many companies are looking for Enterprise Performance Management Software that can be accessed on-the-go. Mobile Enterprise Performance Management Software allows users to access real-time data, collaborate with team members, and make informed decisions from anywhere at any time.

Local special circumstances: Vietnam's Enterprise Performance Management Software market is characterized by intense competition among both domestic and international vendors. While there are many local vendors that offer Enterprise Performance Management Software tailored to the specific needs of Vietnamese businesses, there are also several global players that have established a strong presence in the market. This competition has led to a diverse range of Enterprise Performance Management Software solutions available to Vietnamese businesses, which has contributed to the growth of the market.

Underlying macroeconomic factors: Vietnam's rapidly growing economy, young and tech-savvy population, and favorable government policies have all contributed to the growth of the Enterprise Performance Management Software market. The Vietnamese government has been actively promoting the development of the country's IT industry, which has attracted foreign investment and helped to create a supportive environment for local tech startups. Additionally, Vietnam's membership in several regional and international trade agreements has opened up new opportunities for Vietnamese businesses to expand their operations and compete on a global scale. As Vietnam's economy continues to grow and its businesses become more sophisticated, the demand for Enterprise Performance Management Software is likely to continue to rise.

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.