Enterprise Performance Management Market-Latest Advancements

Enterprise Performance Management Market Synopsis

Enterprise Performance Management Market Size Was Valued at USD 6.4 Billion in 2023, and is Projected to Reach USD 13.3 Billion by 2032, Growing at a CAGR of 8.5% From 2024-2032.

Enterprise performance management can be defined as the processes, tools, and systems practices by companies to measure and control the performance of an enterprise. Some of the functions of EPM include planning, budgeting, forecasting, financial reporting and performance analysis since it assists organizations in the linking of strategy and objectives to operations. Therefore, EPM affords a consolidated view of several business functions, and assists in the assessment of the company’s financial and operating effectiveness. The main purpose of EPM is important for increasing the organizational performance and client-oriented, as well as ready to adapt to ever-changing conditions due to the correct use of the identified insights.

• The Enterprise Performance Management (EPM) market pertains to solutions and business practices for strategic planning, modelling, and reporting on an enterprise’s financial performance. EPM systems are solutions that combine financial and operational data and are used to present a company’s performance. Such systems are meant to enhance organizational decision-making by presenting results useful in strategic execution and operations. Some of the components of EPM are FP&A, budgeting and forecast, performance management, and scenario modeling. The global need for business entities and organizations to be more adaptable to the changes in the market is the main reason why many are concentrating on the use of EPM solutions.
• There is also increased market growth by shifting of EPM systems to be powered by artificial intelligence and machine learning technologies thus improving the predictions and booking aspects of such systems. Further, as EPM is more frequently integrated with cloud computing solutions, the level of flexibility, scalability and IT overhead is much higher, which means that such solutions can be used not only by large companies but also by middle and small ones. The current key vendors in the supply of EPM solutions are Oracle, SAP, IBM, and Anaplan, and these have not rested on their laurels observing the ever-evolving needs of consumers. Since there is a significant trend among companies attempting to upgrade their organizational performance, the EPM solutions market is forecasted to expand further.

Enterprise Performance Management Market Trend Analysis

Increasing adoption of cloud-based EPM solutions

• Cloud-based EPM solutions are seen as one of the major trends in the current market, as more and more companies turn to solutions of this kind. As compared with on-premise ways, systematic using of Cloud-based EPM provide some benefits, such as scalability, flexibility, cost effectiveness, etc. This essentially means that organisations are able to implement these solutions at a faster rate and more efficiently; with lower capital investment initially, or at all in some cases; and with minimal management overhead thereafter. Also, implementing EPM platforms in the cloud generally provides additional features including real-time information, high-level analysis, and better integration to other cloud services. This shift to the cloud allows companies to react to the changing environment much more quickly and is, therefore, a major trend influencing the development of EPM market.

Integration of artificial intelligence (AI) and machine learning (ML) technologies

• There is a great opportunity to enhance the Enterprise Performance Management (EPM) market through the implementation of artificial intelligence (AI) and machine learning (ML). The use of technology such as AI & ML in the developments of EPM solutions enables the solutions to provide predictive analytics, automated data processing, and improved decision-making features. Such technologies enable organisations analyze patterns and trends vis-a-vis operational and financial performance and deliver insights that were hard to understand. Because more firms are looking for new means of differentiation using data-driven techniques, EPM software solutions that embed AI and ML are poised to draw more market share. It can create better and more carefully planned required performance management functions, that may improve business results.

Enterprise Performance Management Market Segment Analysis:

Enterprise Performance Management Market Segmented on the basis of Offering, Function and Vertical.

By Offering, Solution segment is expected to dominate the market during the forecast period

• As for regional distribution, it is predicted that the Solution segment will remain the most popular among customers throughout the forecast period in the context of the Enterprise Performance Management (EPM) market. This can be attributed to the growth of the need for total and embraced EPM solutions for enhancing operating efficiency in issues that include financial planning, budgeting, forecasting, and reporting. There is a demand for advanced solutions capable of delivering real-time information about businesses, increase the quality of the gathered information, and develop efficient decision-making systems in organizations.
• The emergence of the digital shift along with the increased implementation of new-age solutions including cloud computing, AI, and ML also fuel the Solution segment growth. The solutions that companies are offering seem to become more complex as separate needs and requirements of the modern business world are met in an increasing variety. Thus, the increase in requirements for greater efficiency and flexibility in companies’ operations will further support the growth of this segment while prioritizing the use of all-in-one EPM solutions.

By Function, Finance segment expected to held the largest share

• There is also the finance segment which EPM expects to have the largest market share since it plays a very crucial role in the running of organizations and in decision making. Budgeting, forecasting, financial reporting, and even performance analysis, all these are seen to be at the center of EPM and are often collectively referred to as financial planning and analysis (FP&A). This is a process that is important to make sure that, companies’ strategies in terms of operations, resources and secondly, for planning and control to guarantee that the companies are healthy financially. More complex financial regulations and the requirement for timely financial data analysis also contribute to the growth of EPM’s necessity in the finance segment.
• On a similar note, AI and machine learning have boosted the features of financial EPM tools, thus increasing their precision and speed. As such, EPM solutions for finance departments have become a focus for organizations’ investments for the purpose of enhancing competitiveness through improved financial management and planning.

Enterprise Performance Management Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Currently, the Asia Pacific remains the most promising region that will lead the demand of Enterprise Performance Management (EPM) over the upcoming years due to the consistent economic growth, the bolting endeavors of digital enterprise transformation, and advanced technology implementation. As with many digital technologies, China, India, Japan, and South Korea are early leaders in cloud infrastructure, followed by AI and machine learning, which are critical to nearly all current and next-generation EPM offerings.
• Furthermore, with the development of more numbers of small and medium-sized enterprises SMEs in the region, extended number of these organizations have been realizing the usefulness of EPM systems in achieving better organizational performance and getting the competitive advantage. Digitalization measures by the government and the increasing emphasis on the optimization of operations in numerous sectors continue to drive the region’s market share. Therefore, EPM adoption will buoy the Asia Pacific region and is highly likely to be instrumental in stimulating the global market’s growth tremendously.

Active Key Players in the Enterprise Performance Management Market

• Adaptive Insights (a Workday company) (United States)
• Anaplan, Inc. (United States)
• Board International S.A. (Switzerland)
• CCH Tagetik (Wolters Kluwer) (Netherlands)
• Epicor Software Corporation (United States)
• IBM Corporation (United States)
• Infor, Inc. (United States)
• Kepion Solutions, Inc. (United States)
• OneStream Software LLC (United States)
• Oracle Corporation (United States)
• Planful, Inc. (United States)
• Prophix Software Inc. (Canada)
• SAP SE (Germany)
• Unit4 N.V. (Netherlands)
• Workday, Inc. (United States) and Other Major Players

Key Industry Developments in the Enterprise Performance Management Market:

• In November 2023, Fincons Group has entered into a strategic partnership with Jedox, a globally recognized provider of adaptable planning and performance management platforms. By promoting growth and profitability in these regions, the partnership between the two organizations is anticipated to provide innovative solutions to finance teams in countries including Italy, Switzerland, France, Germany, Belgium, the United Kingdom, and the United States.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Enterprise Performance Management Market by Type
 4.1 Enterprise Performance Management Market Snapshot and Growth Engine
 4.2 Enterprise Performance Management Market Overview
 4.3 95% Purity Type
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 95% Purity Type: Geographic Segmentation Analysis
 4.4 98% Purity Type
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 98% Purity Type: Geographic Segmentation Analysis
 4.5 99% Purity Type
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 99% Purity Type: Geographic Segmentation Analysis
 4.6 Others
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Others: Geographic Segmentation Analysis

Chapter 5: Enterprise Performance Management Market by Application
 5.1 Enterprise Performance Management Market Snapshot and Growth Engine
 5.2 Enterprise Performance Management Market Overview
 5.3 Anmial Medication
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Anmial Medication: Geographic Segmentation Analysis
 5.4 Human Medication
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Human Medication: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Enterprise Performance Management Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 ADAPTIVE INSIGHTS (A WORKDAY COMPANY) (UNITED STATES)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 ANAPLAN
 6.4 INC. (UNITED STATES)
 6.5 BOARD INTERNATIONAL S.A. (SWITZERLAND)
 6.6 CCH TAGETIK (WOLTERS KLUWER) (NETHERLANDS)
 6.7 EPICOR SOFTWARE CORPORATION (UNITED STATES)
 6.8 IBM CORPORATION (UNITED STATES)
 6.9 INFOR
 6.10 INC. (UNITED STATES)
 6.11 KEPION SOLUTIONS
 6.12 INC. (UNITED STATES)
 6.13 ONESTREAM SOFTWARE LLC (UNITED STATES)
 6.14 ORACLE CORPORATION (UNITED STATES)
 6.15 PLANFUL
 6.16 INC. (UNITED STATES)
 6.17 PROPHIX SOFTWARE INC. (CANADA)
 6.18 SAP SE (GERMANY)
 6.19 UNIT4 N.V. (NETHERLANDS)
 6.20 WORKDAY
 6.21 INC. (UNITED STATES)
 6.22 OTHER MAJOR PLAYERS.

Chapter 7: Global Enterprise Performance Management Market By Region
 7.1 Overview
 7.2. North America Enterprise Performance Management Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Type
   7.2.4.1 95% Purity Type
   7.2.4.2 98% Purity Type
   7.2.4.3 99% Purity Type
   7.2.4.4 Others
  7.2.5 Historic and Forecasted Market Size By Application
   7.2.5.1 Anmial Medication
   7.2.5.2 Human Medication
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Enterprise Performance Management Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Type
   7.3.4.1 95% Purity Type
   7.3.4.2 98% Purity Type
   7.3.4.3 99% Purity Type
   7.3.4.4 Others
  7.3.5 Historic and Forecasted Market Size By Application
   7.3.5.1 Anmial Medication
   7.3.5.2 Human Medication
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Enterprise Performance Management Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Type
   7.4.4.1 95% Purity Type
   7.4.4.2 98% Purity Type
   7.4.4.3 99% Purity Type
   7.4.4.4 Others
  7.4.5 Historic and Forecasted Market Size By Application
   7.4.5.1 Anmial Medication
   7.4.5.2 Human Medication
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Enterprise Performance Management Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Type
   7.5.4.1 95% Purity Type
   7.5.4.2 98% Purity Type
   7.5.4.3 99% Purity Type
   7.5.4.4 Others
  7.5.5 Historic and Forecasted Market Size By Application
   7.5.5.1 Anmial Medication
   7.5.5.2 Human Medication
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Enterprise Performance Management Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Type
   7.6.4.1 95% Purity Type
   7.6.4.2 98% Purity Type
   7.6.4.3 99% Purity Type
   7.6.4.4 Others
  7.6.5 Historic and Forecasted Market Size By Application
   7.6.5.1 Anmial Medication
   7.6.5.2 Human Medication
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Enterprise Performance Management Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Type
   7.7.4.1 95% Purity Type
   7.7.4.2 98% Purity Type
   7.7.4.3 99% Purity Type
   7.7.4.4 Others
  7.7.5 Historic and Forecasted Market Size By Application
   7.7.5.1 Anmial Medication
   7.7.5.2 Human Medication
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research