Enterprise Performance Management Application Market by End-users and Geography - Global Forecast and Analysis 2019-2023
Global Enterprise Performance Management Application Market: About this market
Technavio’s enterprise performance management application market analysis considers sales from BFSI, telecom and IT, manufacturing, healthcare, retail, and other end-users. Our analysis also considers the sales of enterprise performance management application in APAC, Europe, North America, South America, and MEA. In 2018, the BFSI segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing adoption of EPM applications by the BFSI sector will play a significant role in the BFSI segment to maintain its market position. Also, our global enterprise performance management application market report looks at factors such as increased demand for cloud-based enterprise performance management, and compliance of regulations. However, data security issues, the presence of substitutes, and implementation issues may hamper the growth of the enterprise performance management application industry over the forecast period.
Global Enterprise Performance Management Application Market: Overview
Compliance of regulations
Compliance with sector-specific financial planning regulations is important. Governments across the world are increasingly ratifying regulations regarding data collection, utilization, and storage. This is primarily to cater to the increasing volume, variety, and sensitive nature of data being generated and transferred across multiple industries. Organizations need to comply with these regulations to manage their financial planning and reporting legally. Large organizations with a global presence are also required to ensure compliance with all financial planning and reporting regulations across their operating countries. Thus, compliance of regulations will lead to the expansion of the global enterprise performance management application market at a CAGR of almost 9% during the forecast period.
Use of RPA in enterprise performance management
RPA is a technology used for automating the business processes of enterprises. It enables data cleansing, data manipulation, triggering responses, and creating or updating metadata more efficiently. The use of RPA increases efficiency by eliminating risks, improving process flows, and reducing errors. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global enterprise performance management application market during the forecast period 2019-2023, click here.
With the presence of several major players, the global enterprise performance management application market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading enterprise performance management application manufacturers, that include Anaplan Inc., IBM Corp., Oracle Corp., SAP SE, Workiva Inc.
Also, the enterprise performance management application market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook