Enterprise Performance Management Market by Application (Enterprise Planning &Budgeting, Financial Consolidation, Financial Reporting & Compliance), Business Function, Component, Deployment Mode, Vertical, and Region - Global Forecast to 2023
“The global Eenterprise Pperformance Mmanagement (EPM) market to grow at a CAGR of 10.0% during the forecast period”
MarketsandMarkets forecasts the global EPM enterprise performance management market size to grow from USD 7.28 billion in 2018 to USD 11.72 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period. The mMajor growth factors expected to drivers of the growth of the EPM enterprise performance management market include the demand for reducing operational costs, and adoption of cloud-based solutions, need to improve business performance and adoption of data-driven decision making, and need to make business strategies transparent to all employees. The lack of awareness and knowledge of EPM solutions among enterprises and competition from big EPM enterprise performance management software vendors are expected to restrain , however, could affectthe adoption of the enterprise performance managementEPM solutions in the emerging economies, which, in turn, may restrain the market growth.
The “HHuman RResource (HR) business function segment to grow at the highest CAGR during the forecast period”
The EPM In the enterprise performance management market by business function has been segmented into, there are segments such as, finance, HRhuman resource, supply chain, sales and marketing, and others (IT, operations, and support and maintenance). The HR segment is expected to human resource business function will grow at the highest CAGR, as the HRuman resource department needs to maximize the potential of their workforce while increasing efficiency. EPM solutions offer better insights into human capital performance and streamline HR processes, right from recruitment to retirement.
The “rRetail and eCommerce vertical to grow at the highest CAGR during the forecast period”
Among industry verticals, the rRetail and eCommerce vertical is expected to grow at the highest CAGR in the global enterprise performance management market during the forecast period. Retailers face immense pressure to balance their inventory levels, sales performance, vendor management, conversion rates, transactions, and potential stock; thus, they require EPM solutions to extract real-time insights into their sales and operational performance for making and make better decisions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the EPM Enterprise performance management market.
By Company Type: Tier I: 22%, Tier II: 42%, and Tier III: 36%
By Designation: C-Level: 28%, Director Level: 40%, and Others: 32%
By Region: North America: 38%, Europe: 27%, APAC: 25%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering EPM enterprise performance management solutions. It profiles major vendors in the global EPM enterprise performance management market, which include SAP (Germany), IBM (US), Oracle (US), Workiva (US), Adaptive Insights (US), Anaplan(US), Host Analytics (US), Infor (US), Longview (Canada), CCH Tagetik (Italy), Prevero (Germany), Prophix (Canada), Vena (Canada), Kaufman Hall (US), Deloitte (US), BOARD (Switzerland), Corporater (Norway), HCL (India), SAS Institute (US), MicroStrategy (US), Capgemini (France), CA Technologies (US), The Hackett Group (US), Emtec (US), and KPMG (UK). It also The report includes an an in-depth competitive analysis of these key EPM enterprise performance management market players, along with their company profiles, that include business overviews, product offerings, recent developments, and market strategies.
The report segments the global EPM enterprise performance management market by application, business function, component, deployment mode, enterprise size, industry vertical, and region. The application segment includes enterprise planning and budgeting, financial consolidation, financial reporting and compliance, supply chain performance management, predictive analytics, and others (workforce planning, cost and profitability management, and risk strategy management) applications. The business function segment of the enterprise performance management market includes finance, HRhuman resource, supply chain, sales and marketing, and others (IT, operations, and support and maintenance) business functions.The component segment comprises includes solutions and services. The EPM market by deployment mode has been segmented into the cloud and on-premises categories. The EPM enterprise performance management market by enterprise size has been categorized into Small and Medium-sized Enterprises (SMEs) and large enterprises segments. The industry vertical segment ofthe EPM market by enterprise size has been categorized into enterprise performance management includes, Banking, Financial Services, and Insurance (BFSI), retail and eCommerce, IT and telecommunications, media and entertainment,manufacturing, and healthcare and life sciences, and other vertical. The report covers the EPM enterprise performance management market with respect to in 5 major regions, namely: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
The report would help the market leaders and new entrants in the global EPM enterprise performance management market in the following ways:
1. The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across various applications and regions.
2. It The report helps in understanding the overall growth of the market. It also provides information about on key market drivers, restraints, challenges, and opportunities.
3. It The report helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.