Enterprise Performance Management Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023
The recent evolution of IT and cloud services as a business has changed the entire industry. Improvements in enterprise capacity and performance, container-based service, and flash storage capabilities have further improved the enterprise performance management market. There are numerous factors that redefine the enterprise performance management market. Rapid improvement in the efficiency, the introduction of cloud-based enterprise performance management solutions and services offerings, use of cloud computing, software-define networking (SDN), and virtualization mean that the organizations require new approaches to meet the demands for enterprise performance management.
With cloud computing entering the market, the opinion regarding the future of enterprise performance management has started to change. The market is sending mixed signals with the changing business landscape. Thus, the cloud-based deployment mode will have the highest growth. The cloud service providers will help enterprises of all size in understanding the changing technology and its effect on future demand. Presently, decisions regarding the use of cloud require a structured approach. Organizations need to assess the workloads and identify the applications that can be moved out of the on-premises model into the cloud. The workloads are not cloud-ready, and can be run on on-premises or moved to colocation depending upon the nature and business criticality.
The benefits of cost and efficiency of cloud computing are compelling, fostering business managers to move certain applications to the cloud keeping in mind that this move would not expose the business to risk, increased cost, and disruption. The first stage is the re-platforming of applications, for instance, transitioning them from Unix or mainframe-based architecture to an X86 architecture allowing users to move away from physical infrastructure using virtualization technologies. This process is complex, which requires an integration with cloud partners to undertake cloud migration across heterogenous environment.
Most of the organizations are running test for cloud commuting. Few have migrated their entire infrastructure to a public or private cloud and many still require on-premises infrastructure to meet the needs of the future. Enterprise performance management on cloud has significant opportunities for organizations to save costs, and become efficient and agile by optimizing the traditional facilities. The aging infrastructure cost makes it difficult to capitalize on the transformational trends such as mobility and cloud.
Infoholic Research forecasts the global enterprise performance management market to grow at a CAGR of 11.4% during the forecast period. The market is segmented into solutions, services, deployment modes, end-user verticals, and regions.
The report covers the present scenario and the growth prospects of the enterprise performance management during the period 2017–2023. Moreover, to calculate the market size, the report considers the revenue generated from the below-mentioned segments:
Solutions: The segment includes the revenue generated from planning, budgeting, and forecasting, financial reporting, strategy and measurement, and analytics
Services: The segment includes the revenue generated from the consulting services, implementation services, managed services, training and support, and others
The report covers drivers, restraints, and opportunities affecting the market growth during the forecast period.
The report gives insight about the application verticals where enterprise performance management products are being used.
The report covers the adoption and usage of enterprise performance management in different regions. The regions include North America, Europe, Asia Pacific (APAC), and the Latin America, and the Middle East & Africa (MEA).
It also contains an analysis of the forecast revenues, vendor profiles, companies to watch for, and business strategies, and views.
It contains an analysis of vendor profiles, which include financial health, business units, geographical revenue, business focus, SWOT, business strategy, and views.
In the vendor profile section, for companies that are privately held, financial information and revenue of segments will be limited.
The report covers political, economic, social, and technological (PEST) factors affecting the market growth during the forecast period.