Enterprise Performance Management Market by Component, Application, Business Function, Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2027
DUBLIN, Nov. 14, 2022 /PRNewswire/ --The "Enterprise Performance Management Market by Component, Application (Enterprise Planning & Budgeting, Reporting & Compliance), Business Function, Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Enterprise Performance Management (EPM) Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period, to reach USD 8.3 billion by 2027 from USD 6.0 billion in 2022.
The financial consolidation segment is expected to to perform efficiently during the forecast period.
Financial organizations use legacy tools for the financial consolidation process. This process is complex, time-consuming, and loaded with risks of data integrity errors. Financial consolidation is a process that enterprises conduct on a monthly or quarterly basis to reconcile, translate, eliminate, consolidate, and report financial information. The financial consolidation application is designed to help organizations manage and streamline their financial close process.
This close process includes the closing of sub-ledgers and General Ledger (GLs), collection and consolidation of financial results, management, and financial reporting, as well as regulatory filings. Consolidation aims to collect and transform data into financial presentations. EPM solutions offer decision-makers complete visibility into the entire close, consolidation, data collection, and reporting activities. Additionally, they offer robust automation, process-driven workflow, stringent controls, and detailed audit logs to modernize the legacy approaches.
The IT vertical expected to grow with steady CAGR during the forecast period
The IT department needs to align IT plans with strategic business goals to ensure a proper service level for business operations. EPM solutions combine data from different sources, analyze and process data at the granular level, and provide actionable insights for better decision-making. Anaplan and BOARD are some of the vendors offering EPM solutions for these IT business functions.
The demand for EPM solutions has increased among enterprises due to the rising demand to make business strategies transparent to all employees in the organization. In times of increasing economic uncertainties and disruptive technology evolution, organizations need to quickly adopt new digital business models without overlooking their daily operational efficiency and cost control.
Europe to hold the second largest market size during the forecast period
Europe is projected to account for the second-largest market size in the global EPM market by 2027. Countries, such as the UK, Germany, and France, are the major adopters of EPM solutions in Europe. These countries have been the frontrunners in terms of EPM adoption. Robust economic infrastructure and high internet penetration make Europe one of the top markets for solutions. However, technology adoption is low in Europe compared to the US. European brands are adopting digital transformation through migration from legacy systems to virtual environments slowly.
According to the data of the EIB Investment Survey, digital adoption rates are lower in Europe than in the US. Only 66% of manufacturing firms in the EU, compared to 78% in the US, have adopted at least one digital technology. As digital transformation is becoming a key to achieving future growth, the European government is investing in digital technologies. Thus, European organizations take several steps to achieve economic development and growth.
For instance, the European Commission continuously invests in its Digitizing European Industry (DEI) initiative to help European businesses across industries and regions benefit from digital innovations. In addition to the above developments, enterprises in verticals across Europe have started realizing the benefits of deploying EPM solutions into their operations to enhance decision-making.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insight
4.1 Attractive Growth Opportunities in the Enterprise Performance Management Market 4.2 Market, by Application, 2022 Vs. 2027 4.3 Market, by Deployment Model, 2022 4.4 Market, by Organization Size, 2022 4.5 Market, by Vertical, 2022 Vs. 2027 4.6 Enterprise Performance Management Market: Regional Scenario, 2022-2027
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Operational Efficiency by Optimizing Business Processes 5.2.1.2 Improved Profitability by Reducing the Operational Cost 5.2.1.3 Requirements for Regulatory Compliance and Security 5.2.2 Restraints 5.2.2.1 High Cost of Deploying Epm Systems 5.2.2.2 Lack of Technological Planning and Application Complexity 5.2.3 Opportunities 5.2.3.1 Increase in Adoption of Cloud-Based Epm Software to Support Business Functions 5.2.3.2 Rising Need for Mobility to Implement a Flexible Work System 5.2.4 Challenges 5.2.4.1 Lack of Proper Training and Skillset of Employees 5.2.4.2 Lack of Coordination and Integration of Cloud Applications 5.3 COVID-19-Driven Market Dynamics 5.3.1 Drivers and Opportunities 5.3.2 Restraints and Challenges 5.4 Case Study Analysis 5.4.1 Case Study 1: Reconciliation of Business Processes 5.4.2 Case Study 2: Future-Oriented Financial Planning and Analysis 5.4.3 Case Study 3: Improved Budgeting and Planning Process 5.4.4 Case Study 4: Consistent and Timely Financial Reporting 5.5 Technological Analysis 5.6 Patent Analysis 5.7 Value Chain Analysis 5.8 Ecosystem 5.9 Porter's Five Forces Analysis 5.10 Key Stakeholders & Buying Criteria 5.11 Key Conferences and Events in 2022-2023 5.12 Pricing Analysis 5.12.1 Average Selling Price Trend 5.13 Trends/Disruptions Impacting Buyers 5.14 Regulatory Landscape
6 Enterprise Performance Management Market, by Component 6.1 Introduction 6.1.1 Components: Market Drivers 6.1.2 Component: COVID-19 Impact 6.2 Solutions 6.2.1 Growing Demand for Reducing Operational Costs, Adoption of Cloud-Based Solutions, and Implementation of Data-Driven Solutions 6.3 Services 6.3.1 Advising and Helping End-Users to Integrate and Deploy Epm Solutions 6.3.2 Professional Services 6.3.3 Managed Services
7 Enterprise Performance Management Market, by Application 7.1 Introduction 7.1.1 Application: Market Drivers 7.1.2 Application: COVID-19 Impact 7.2 Enterprise Planning and Budgeting 7.2.1 Effectively Executing Business Strategies and Aligning Them with the Execution Plan 7.3 Financial Consolidation 7.3.1 Increasing Need to Reconcile, Translate, Eliminate, Consolidate, and Report Financial Information 7.4 Reporting and Compliance 7.4.1 Need to Increase the Accuracy of Financial Reporting while Decreasing the Turnaround Time 7.5 Integrated Performance Management System 7.5.1 Increasing Need to Help An Enterprise in Planning, Measuring, and Analyzing Performance 7.6 Other Applications 7.6.1 Increasing Data Generation Through ERP, Crm, Warehouse Management System (Wms), and Transportation Management System (Tms)
8 Enterprise Performance Management Market, by Business Function 8.1 Introduction 8.1.1 Business Function: Market Drivers 8.1.2 Business Function: COVID-19 Impact 8.2 Finance 8.2.1 Increasing Need to Address a Wide Range of Budgeting, Planning, and Forecasting Requirements 8.3 Human Resources 8.3.1 Need to Maximize the Potential of the Workforce while Increasing Efficiency 8.4 Supply Chain 8.4.1 Need to Make Timely Value-Based Decisions to Respond Quickly to the Shifts in Demand and Customer Needs 8.5 Sales and Marketing 8.5.1 Aligning Marketing Campaigns and Program Plans to Sales Staffing and Revenue Plans 8.6 It 8.6.1 Aligning It Plans with Strategic Business Goals to Ensure a Proper Service Level for Business Operations
9 Enterprise Performance Management Market, by Organization Size 9.1 Introduction 9.1.1 Organization Size: Market Drivers 9.1.2 Organization Size: COVID-19 Impact 9.2 Large Enterprises 9.2.1 Monitoring and Controlling Financial Performance and Coordinating Tasks Across Other Departments 9.3 Small and Medium-Sized Enterprises 9.3.1 Increasing Need to Provide Structured Reporting, Customization, Improved Efficiency, and Visibility
10 Enterprise Performance Management Market, by Deployment Type 10.1 Introduction 10.1.1 Deployment Type: Market Drivers 10.1.2 Deployment Type: COVID-19 Impact 10.2 Cloud 10.2.1 Multiple Users Accessing the Information Through the Internet and Reduced Operational Costs 10.3 On-Premises 10.3.1 Increasing Need to Improve Efficiency and Consistency in Financial Reporting, Security, and Regulatory Compliance
11 Enterprise Performance Management Market, by Vertical 11.1 Introduction 11.1.1 Verticals: Market Drivers 11.1.2 Verticals: COVID-19 Impact 11.2 Banking, Financial Services, and Insurance 11.2.1 Financial Institutions Streamlining Their Financial Planning and Analysis, Performance Management, Reporting, and Compliance Processes 11.3 It and Ites 11.3.1 Need for Improving Response Time, Analyzing Traffic, Continuous Evolvement, and Studying Product Affinity 11.4 Retail and Consumer Goods 11.4.1 Extracting Real-Time Insights into Sales and Operational Performance and Making Better Decisions 11.5 Government and Public Sector 11.5.1 Need to Deal with Large Silos of Data and Produce Actionable Insights 11.6 Media and Entertainment 11.6.1 Improving Performance, Complying with Regulations, and Understanding Financial Impact of Decisions 11.7 Healthcare and Life Sciences 11.7.1 Increasing Need to Keep Track of Equipment and Reduce the Risk of Equipment Downtime 11.8 Manufacturing 11.8.1 Need to Optimize Supply, Demand, and Production Decisions and Integrate Operational and Production Planning with Financial Plans 11.9 Telecommunications 11.9.1 Implementation of Ai and Machine Learning to Optimize the Decision-Making Process 11.10 Other Verticals 11.10.1 Planning, Monitoring, and Assessing the Investment Affects on Cash Flow, Interest Expense, and Profitability
12 Enterprise Performance Management Market, by Region
13 Competitive Landscape 13.1 Introduction 13.2 Market Evaluation Framework 13.3 Market Ranking 13.4 Market Share Analysis 13.5 Historical Revenue Analysis of Top Vendors 13.6 Company Evaluation Quadrant 13.6.1 Company Evaluation Quadrant Methodology 13.6.2 Stars 13.6.3 Emerging Leaders 13.6.4 Pervasive Players 13.6.5 Participants 13.7 Sme Evaluation Quadrant 13.7.1 Responsive Players 13.7.2 Progressive Players 13.7.3 Dynamic Players 13.7.4 Starting Blocks 13.8 Competitive Benchmarking 13.9 Competitive Scenario
14 Company Profiles 14.1 Major Players 14.1.1 Oracle 14.1.2 Sap 14.1.3 Ibm 14.1.4 Anaplan 14.1.5 Infor 14.1.6 Unicom Systems 14.1.7 Workday 14.1.8 Planful 14.1.9 Unit4 14.1.10 Epicor Software 14.2 Other Players 14.2.1 Onestream 14.2.2 Workiva 14.2.3 Broadcom 14.2.4 Sas 14.2.5 Board International 14.2.6 Lucanet 14.2.7 Prophix 14.2.8 Vena Solutions 14.2.9 Solver 14.2.10 Longview 14.2.11 Jedox 14.2.12 Corporater 14.2.13 Wolters Kluwer 14.2.14 Insight Software 14.2.15 Centage 14.2.16 Inphase 14.2.17 Datarails 14.2.18 Idu 14.2.19 Calumo 14.2.20 Defacto Global 14.2.21 Syntellis 14.2.22 Achieveit 14.2.23 Kepion 14.2.24 Bright Analytics
15 Adjacent/Related Markets
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/yj9yuh?
Media Contact:
Research and Markets Laura Wood, Senior Manager [email protected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/enterprise-performance-management-market-by-component-application-business-function-deployment-type-organization-size-vertical-and-region---global-forecast-to-2027-301677258.html
SOURCE Research and Markets
[ Back To TMCnet.com's Homepage ]
|