The Enterprise Performance Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Enterprise Performance Management Global Market Report 2024, The enterprise performance management market size has grown strongly in recent years. It will grow from $6.81 billion in 2023 to $7.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to operational efficiency goals, demand for performance measurement, adoption of balanced scorecard methodologies , improved data visualization, focus on customer relationship management.
The enterprise performance management market size is expected to see strong growth in the next few years. It will grow to $9.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to continues shift to cloud-based solutions, mobile-centric solutions, heightened data security measures, sustainability integration, demand for integrated platforms .. Major trends in the forecast period include integration of advanced analytics, cloud-based solutions adoption, focus on real-time data, integration of business intelligence, strategic planning enhancement.
The increase in requirements for regulatory compliance and security are driving the enterprise performance management market. Regulatory compliance and security are a continual process of adhering to pertinent local, state, national, and international laws, security protocols, and business regulations. Enterprise performance management helps report compliance to demonstrate that the business complies with the conditions set forth by a governmental or regulatory body under a specific regulation. For instance, in May 2021, according to a report published by Gartner, a management consulting company, spending on security services grew to $72,497 million in 2021. Therefore, increasing regulatory compliance and security requirements will propel the growth of the enterprise performance management market.
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The enterprise performance management market covered in this report is segmented –
1) By Component: Solutions/ Software, Services
2) By Deployment: On-premise, Cloud
3) By Application: Enterprise Planning and Budgeting, Financial Consolidation, Reporting and Compliance, Integrated Performance Management System, Other Applications
4) By Industry Vertical: BFSI, IT and Telecom, Retail, Manufacturing, Healthcare, Energy and Utilities, Other Verticals
Technological advancement is a key trend gaining popularity in the enterprise performance management market. Major companies in the enterprise performance management market are advancing towards cloud-based enterprise performance management to gain a competitive edge in the market. For instance, in September 2021, Oracle, a US-based company operating in Enterprise Performance Management (EPM), introduced various innovative features for its Oracle Fusion Cloud ERP and EPM solutions, expanding its EPM platform. The innovative features include new enhancements to EPM enterprise journals, Intelligent Document Recognition (IDR) features, Fusion ERP’s analytics capabilities, Intelligent Performance Management (IPM) tools, compliance APIs, and risk management.
The enterprise performance management market report table of contents includes:
1. Executive Summary
2. Enterprise Performance Management Market Characteristics
3. Enterprise Performance Management Market Trends And Strategies
4. Enterprise Performance Management Market – Macro Economic Scenario
5. Global Enterprise Performance Management Market Size and Growth
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26. South America Enterprise Performance Management Market
27. Brazil Enterprise Performance Management Market
28. Middle East Enterprise Performance Management Market
29. Africa Enterprise Performance Management Market
30. Enterprise Performance Management Market Competitive Landscape And Company Profiles
Top Major Players:
- Oracle Corporation0
- IBM Corporation
- Infor Inc
- SAP AG
- Anaplan Inc
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