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Global Enterprise Performance Management Market 2018-2023 - New Product/Service Launches and Product/Service Enhancements
DUBLIN, Oct. 11, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The global 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 major factors expected to drive the market growth 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.
Major EPM applications are enterprise planning and budgeting, financial consolidation, financial reporting and compliance, supply chain performance management, predictive analytics, and others (workforce planning, profitability and cost management, and risk strategy management). The enterprise planning and budgeting application is expected to hold the largest market size during the forecast period. The increasing demand for data-driven decision making and faster response to changes in customer preferences and needs is expected to increase the adoption of the enterprise planning and budgeting application.
The Enterprise Performance Management market by business function has been segmented into finance, Human Resource (HR), supply chain, sales and marketing, and others, which include IT, operations, and support and maintenance. The HR segment to grow at the highest CAGR, as the HR 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.
Based on components, the Enterprise Performance Management market has been segmented into solutions and services. The services segment to grow at a higher CAGR during the forecast period, due to the growing technology advancements. The services segment is further sub-segmented into professional services and managed services.
The EPM market by deployment mode has been categorized into 2 segments, namely, cloud and on-premises. The cloud deployment mode is expected to hold the larger market size during the forecast period. The adoption of the cloud delivery model is growing rapidly, as organizations are focusing on deploying cost-effective and scalable solutions.
The Enterprise Performance Management market by enterprise size has been segmented into large enterprises and Small and Medium-sized Enterprises (SMEs). The large enterprises segment to grow at a higher CAGR during the forecast period. The increasing need to improve business performance and rising adoption of data-driven decision making are expected to drive the adoption of EPM solutions among large enterprises.
Enterprise Performance Management Market
North America to hold the largest market size, while APAC to grow at the highest CAGR during the forecast period. The presence of a maximum number of EPM vendors in North America and need to enhance the overall business performance by extracting insights from organizations' interal as well as external data are expected to increase the adoption of EPM solutions in the region. In APAC, the growth rate can be attributed to various factors, including the adoption of advanced technologies, economic developments, rapid digitalization, and high investments by EPM solution providers.
On the basis of verticals, the Enterprise Performance Management market is segmented into BFSI, retail and eCommerce, IT and telecommunications, media and entertainment, manufacturing, healthcare and life sciences, and others (food and beverage, government, energy and utilities, construction, automotive, legal, logistics, travel and hospitality, agriculture, education, and non-profit organizations). The retail and eCommerce vertical to hold the largest market size 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 from their sales and operational performance for making better decisions.
The global Enterprise Performance Management market faces many challenges, including competition from big EPM software vendors and the lack of awareness and knowledge of EPM solutions among enterprises may hinder the growth of the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Enterprise Performance Management Market
4.2 Market Top 3 Verticals
4.3 Market Top 3 Business Functions and Regions
4.4 Market Potential, By Region
4.5 Market By Deployment Mode
4.6 Market By Business Function
4.7 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for Reducing Operational Costs and Adoption of Cloud-Based Solutions
5.2.1.2 Need to Improve Business Performance and Adoption of Data-Driven Decision-Making
5.2.1.3 Need to Make Business Strategies Transparent to All Employees
5.2.2 Restraints
5.2.2.1 Lack of Awareness and Knowledge Among Enterprises
5.2.2.2 Competition From Big Epm Software Vendors
5.2.3 Opportunities
5.2.3.1 Higher Adoption By SMEs
5.2.3.2 Higher Adoption of Third-Party IT Platforms
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce
5.3 Use Cases
5.3.1 Introduction
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 General Data Protection Regulation (GDPR)
5.4.3 Solvency II
5.4.4 Federal Financial Management Improvement Act (FFMIA)
5.4.5 Governance, Risk, and Compliance (GRC)
5.4.6 Generally Accepted Accounting Principles (GAAP)
5.4.7 International Financial Reporting Standards (IRFS 16)
5.4.8 Sarbanes-Oxley Act (SOX)
6 Enterprise Performance Management Market, By Application
6.1 Introduction
6.2 Enterprise Planning and Budgeting
6.3 Financial Consolidation
6.4 Financial Reporting and Compliance
6.5 Supply Chain Performance Management
6.6 Predictive Analytics
6.7 Others
7 Market By Business Function
7.1 Introduction
7.2 Finance
7.3 Human Resources
7.4 Supply Chain
7.5 Sales and Marketing
7.6 Others
8 Enterprise Performance Management Market, By Component
8.1 Introduction
8.2 Solutions
8.3 Services
8.3.1 Professional Services
8.3.2 Managed Services
9 Market By Deployment Mode
9.1 Introduction
9.2 Cloud
9.3 On-Premises
10 Enterprise Performance Management Market, By Enterprise Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises
11 Market By Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Retail and Ecommerce
11.4 IT and Telecommunications
11.5 Media and Entertainment
11.6 Manufacturing
11.7 Healthcare and Life Sciences
11.8 Others
12 Enterprise Performance Management Market, By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.2 Canada
12.3 Europe
12.3.1 United Kingdom
12.3.2 Germany
12.3.3 Switzerland
12.3.4 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.2 Australia
12.4.3 Japan
12.4.4 Rest of Asia Pacific
12.5 Middle East and Africa
12.5.1 United Arab Emirates
12.5.2 Israel
12.5.3 Rest of Middle East and Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Mexico
12.6.3 Rest of Latin America
13 Competitive Landscape
13.1 Overview
13.2 Top Players Operating in the Enterprise Performance Management Market
13.3 Competitive Scenario
13.3.1 New Product/Service Launches and Product/Service Enhancements
13.3.2 Partnerships
13.3.3 Acquisitions
13.3.4 Business Expansions
14 Company Profiles
14.1 IBM
14.2 SAP
14.3 Oracle
14.4 Workiva
14.5 SAS Institute
14.6 Capgemini
14.7 CA Technologies
14.8 HCL Technologies
14.9 KPMG
14.10 Microstrategy
14.11 The Hackett Group
14.12 Emtec
14.13 Adaptive Insights
14.14 Anaplan
14.15 Host Analytics
14.16 Infor
14.17 Longview
14.18 CCH Tagetik
14.19 Prevero
14.20 Prophix
14.21 Vena
14.22 Kaufman Hall
14.23 Deloitte
14.24 Board
14.25 Corporater
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