Enterprise Performance Management Software - Worldwide

The projected revenue for the Enterprise Performance Management Software market worldwide is set to reach US$5.29bn in 2024.
It is expected that the revenue will display an annual growth rate (CAGR 2024-2029) of 4.46%, resulting in a market volume of US$6.58bn by 2029.
In terms of average Spend per Employee, the projected value for the Enterprise Performance Management Software market worldwide is expected to reach US$1.49 in 2024.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$2.87bn in 2024.
Worldwide, the demand for Enterprise Performance Management Software is rapidly increasing as businesses seek to optimize their financial planning and analysis processes.

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 has been growing steadily in recent years due to the increasing demand for data-driven decision-making and the need for better financial planning and analysis.

Customer preferences: Customers are increasingly looking for cloud-based EPM solutions that offer real-time data analysis and reporting capabilities. They also prefer solutions that can integrate with other systems such as ERP and CRM to provide a holistic view of their business performance. Furthermore, customers are looking for solutions that are easy to use and provide intuitive interfaces that can be customized to their specific needs.

Trends in the market: In North America, the EPM software market is being driven by the increasing adoption of cloud-based solutions and the growing demand for predictive analytics and business intelligence. In Europe, the market is being driven by the need for better financial planning and analysis, as well as the increasing focus on regulatory compliance. In Asia-Pacific, the market is being driven by the growing adoption of EPM solutions in emerging economies such as China and India, as well as the increasing demand for cloud-based solutions.

Local special circumstances: In China, the EPM software market is being driven by the government's focus on increasing transparency and accountability in the corporate sector. In India, the market is being driven by the increasing adoption of EPM solutions in the manufacturing and healthcare sectors. In Brazil, the market is being driven by the need for better financial planning and analysis in the retail and consumer goods industries.

Underlying macroeconomic factors: The global economic slowdown and the increasing competition in the market are driving companies to adopt EPM solutions to improve their financial planning and analysis capabilities. The increasing adoption of cloud-based solutions is also being driven by the need for cost-effective and scalable solutions. Additionally, the increasing focus on regulatory compliance is driving companies to adopt EPM solutions that can help them meet regulatory requirements.

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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