The enterprise performance management market is segmented by component, deployment mode, function, industry vertical and region. Based on component, the market is segmented into software and service. On the basis of deployment mode, the market is segmented into on- premise and cloud. On the basis of function, the market is segmented into finance, human resources, supply chain and others.
Further, on the basis of industry vertical, the market is segmented into BFSI, IT & telecom, retail and e-commerce, manufacturing, healthcare, energy and utilities and others. The enterprise performance management market is anticipated to record a CAGR of around 11% during the forecast period i.e. 2019-2027. The market is segmented by component, function and end users. By end users, the retail and e-commerce segment are anticipated to have significant growth on account of requirement of EPM solutions to extracts real time insights into their sales and operational performance. They face immense pressure to balance their inventory levels, sales performance, vendor management, conversion rates, transactions, and potential stock EPM solutions will help them to make better decisions.
North America is expected to hold the largest share in the total revenue in the enterprise performance management market owing to increasing adoption of digital transformation, investments in digital technologies, resources and assets, improvements made to the existing talent and recruiting external digital talent in the companies operating in the region. Furthermore, increasing investments made in enterprise resource planning has triggered the demand for enterprise performance management solutions in the region. Europe is expected to witness moderate growth on the back of growing adoption of corporate performance management (CPM) solutions by European companies and many CPM software providers are collaborating with other industry players to offer effective corporate performance management solutions to their customers.
Asia Pacific is expected to grow at a high rate attributing to higher adoption of cloud technologies in the banking sector and as well as increasing implementation of cloud computing in the financial services institutions. The retail e-commerce industry in Asia Pacific is booming which is expected to encourage several enterprises to adopt effective solutions to improve their business performances which will boost the enterprise performance management market growth in the region. Latin America is expected to grow significantly on the back of growing adoption of cloud analytics in business processes, increasing social media analysis for brand development and technological advancements.
Rise in focus on core business
With the growing competition in the business world it has become a necessity for the enterprises to focus on the core business rather than focusing more on the supporting activities. EPM software would provide predictive analytics to decrease the time spent for the finance function enabling more focus on higher value tasks, deliver operational efficiencies by automating routine tasks, reducing planning efforts & reporting and provide key performance indicators (KPI) and metrics for better assessment and financial closures and give organization qualitative business insights periodically.
However, risk in implementation and shifting of the workload from on- premise to cloud is expected to act as a key restraint to the growth of enterprise performance management market during the forecast period.
The report titled “Enterprise Performance Management Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the enterprise performance management in terms of market segmentation by component, by deployment mode, by function, by industry vertical and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the enterprise performance management market which includes company profiling of Workiva, CCH Tagetik, SAP SE, Oracle Corporation, Infor, IBM, Host Analytics Inc., Board International S.A., Anaplan and Adaptive Insights.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the enterprise performance management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.