A recent report published by Infinium Global Research on enterprise performance management (EPM) market provides an in-depth analysis of segments and sub-segments in the global as well as regional enterprise performance management (EPM) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional enterprise performance management (EPM) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global enterprise performance management (EPM) market. According to the report, the global enterprise performance management (EPM) market is projected to grow at a CAGR of 8.4% over the forecast period of 2021-2027, growing from nearly USD 5.2 billion in 2021 to about USD 8.4 billion in 2027.
Advancements in IT and telecommunication have transformed the way organizations operate in the modern period. Various systems and tools are used by many organizations in different industries to streamline their business functions and boost their revenues. Enterprise performance management (EPM) helps companies to manage and monitor enterprises’ business performance. Businesses are able to streamline the business processes and standardize workflows by adopting EPM solutions. EPM solutions monitor the key performance indicators such as return on investment (ROI), revenue, overhead, and operational costs. On the basis of these indicators, the EPM tools manage business functions such as finance, IT, HR, and sales in the organization. Moreover, EPM helps organizations to make informed decisions, consolidate results, and close books.
The COVID-19 pandemic had a serious impact on many countries and their economies. The outbreak has emerged as a crisis worse than any other critical economic, strategic, and political crisis in the world. The pandemic has decreased the performance of many businesses across the world. Thus, several companies are adopting EPM solutions to boost their businesses during the pandemic. Moreover, the adoption of collaborative solutions and cloud services increased at a rapid pace due to the advancements in innovative technologies such as big data, AI, and IoT, which remained comparatively immune from the pandemic. Furthermore, the governments in many countries implemented several stringent rules and regulations to contain the pandemic. Thus, the companies utilized EPM solutions to optimize their businesses according to the new pandemic regulations. This, in turn, augmented the market growth for EPM over the pandemic period as well as in the long term. In addition, several organizations adopted remote working culture, in order to comply with government regulations and protect the employees from infection. This remote working environment created a demand for EPM solutions to manage critical business processes and boost revenue. This, in turn, augmented the growth of the EPM market during the pandemic.
The rapid expansion of multinational enterprises is majorly driving the demand for EPM. Many multinational companies are upgrading their management and performance optimization capabilities. Furthermore, the increasingly changing business landscape and regulatory policies across various industries are driving the need for effective management solutions. The EPM solutions address the need to keep up with the ever-changing business landscape and regulatory policies. In addition, the increasing adoption of off-premise, cloud-based operations is anticipated to boost the demand for EPM solutions. However, the higher risk associated with shifting the workload from an on-premise system to a cloud-based system hinders the adoption of EPM among many companies. Nevertheless, the advent of advanced technologies such as big data, AI, and IoT augment the demand for comprehensive performance management solutions. This, in turn, drives the EPM market over the forecast period.
In terms of region, the global EPM market is segmented into North America, Europe, Asia Pacific, and RoW. North America is accounted for the largest share among the region in the global EPM market. This is mainly due to the presence of a large consumer base and the increasing adoption of advanced technologies in various industries. Moreover, the presence of several major market players in North America attributes to a huge share of the region in the global EPM market. On the other hand, Asia Pacific is expected to grow at the highest CAGR over the forecasted period. The high growth in the Asia Pacific is majorly due to the growing demand for technologically advanced management solutions. Furthermore, the strong presence of several market players in the region supports the growth of Asia Pacific in the global EPM market.
The report on the global enterprise performance management (EPM) market covers segments such as component, function, deployment model, and end-user. On the basis of component, the sub-markets include software, and services. On the basis of function, the sub-markets include finance, human resources, supply chain, sales and marketing, and it. On the basis of deployment model, the sub-markets include cloud, and on-premises. On the basis of end-user, the sub-markets include BFSI, healthcare, retail, manufacturing, energy and utilities, and others.
The report provides profiles of the companies in the market such as IBM Corporation, Oracle Corporation, SAP SE, Anaplan, Inc., Workday, Inc., Unit4 N.V., BOARD International S.A., Prophix Software, Inc., Corporater Inc., and InPhase Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of enterprise performance management (EPM) market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.