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The corporate performance management (CPM) software market share is expected to increase by USD 1.94 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.37%.
This corporate performance management (CPM) software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers corporate performance management (CPM) software market segmentations by deployment (on-premise and cloud) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The corporate performance management (CPM) software market report also offers information on several market vendors, including Anaplan Inc., Board International SA, deFacto Global Inc, Epicor Software Corp., Global Software LLC, Hexagon AB, International Business Machines Corp., Kepion Inc., Mosaic, OneStream Software LLC, Oracle Corp., Planful Inc., Prophix Software Inc., SAP SE, Solver Inc., Unit4 NV, Vena Solutions Inc., Wolters Kluwer NV, Workday Inc., and Workiva Inc. among others.
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The benefits of CPM software are notably driving the corporate performance management (CPM) software market growth, although factors such as the need for extensive technical training may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the corporate performance management (CPM) software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Corporate Performance Management Software Market Driver
One of the key drivers fueling the CPM software market growth is the benefits of CPM software. Corporate performance management (CPM) is a part of business intelligence (BI), which provides monitoring and management of an organization's performance based on key performance indicators (KPIs), such as revenue, return on investment (ROI), and overhead and operating costs. CPM solutions take useful and meaningful information and turn it into a structured performance metric to support the decision-making process in an organization. A CPM solution will streamline the collection, aggregation, and reporting of data from multiple sources, with consistency and improved accuracy, thereby providing faster results in a shorter duration. CPM enables trust and confidence in financial data, along with traceability of actions and seamless workflow capabilities. This, in turn, will drive the CPM software market growth during the forecast period.
Key Corporate Performance Management Software Market Trend
One of the key corporate performance management software market trends contributing to the market growth is the artificial intelligence-enabled CPM software. AI and ML have the potential to make planning much more effective and efficient for organizations. Ideally, these technologies can help to improve the results of planning and the planning process itself to achieve more meaningful results quickly and reduce the workload of planners. Faster simulations, more accurate forecasts, and increased automation in corporate planning are now within reach of companies using AI, ML, and statistical methods. Many vendors in the market also offer AI-based CPM software. For instance, the Jedox EPM solution helps companies accelerate their planning, forecasting, and reporting. The solution incorporates AI and machine learning to help finance teams create better forecasting models. Such offerings will propel the corporate performance management software market growth.
Key Corporate Performance Management Software Market Challenge
One of the key challenges hampering the CPM software market growth is the need for extensive technical training. While evaluating CPM software, it is important to understand the level of technical expertise that is needed to create reports and dashboards or modify existing ones. Many CPM software products are very complex and require IT specialists to get involved anytime the organization needs to make a change. This drives up the total cost of ownership (TCO). For the finance team, TCO can lead to frustrating delays, as it leads to dependence on an outside department. Typically. building and maintaining the required competencies and skills, as well as ensuring the availability of monetary and human resources, are some of the biggest challenges in the market. These challenges may limit the CPM software market growth during the forecast period.
This corporate performance management (CPM) software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global corporate performance management software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the corporate performance management (CPM) software market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the corporate performance management software market encompasses successful business strategies deployed by the key vendors. The corporate performance management (CPM) software market is fragmented and the vendors are deploying growth strategies such as technological innovations and strategic partnerships and acquisitions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The corporate performance management software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the corporate performance management software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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43% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the corporate performance management software market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Various government organizations adopting the cloud-based model will facilitate the corporate performance management software market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Since the outbreak of COVID-19 in 2020, most companies have needed to sharpen their ability to collect relevant data, model it, and then draw scenarios from it. CPM software provides a competitive edge by allowing end-users to simulate and quantify COVID-19-related measures on performance and then respond properly. Such factors have increased the adoption of CPM software in 2020 and 2021. Moreover, the rising number of industries in APAC and GDP growth in each sector will drive CPM software market growth in the region during the forecast period.
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The corporate performance management software market share growth by the on-premise segment will be significant during the forecast period. Most organizations adopt on-premises CPM software as they are more secure when compared with cloud-based solutions and less vulnerable to hacking. Also, on-premises deployment of CPM is secure as there is no third-party interference while storing the data. Thus, customization and high data security features offered by the on-premises deployment model are driving its growth in the corporate performance management software market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the corporate performance management (CPM) software market size and actionable market insights on post COVID-19 impact on each segment.
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CPM Software Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.37% |
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Market growth 2022-2026 |
$ 1.94 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
12.02 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 43% |
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Key consumer countries |
US, Canada, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Anaplan Inc., Board International SA, deFacto Global Inc, Epicor Software Corp., Global Software LLC, Hexagon AB, International Business Machines Corp., Kepion Inc., Mosaic, OneStream Software LLC, Oracle Corp., Planful Inc., Prophix Software Inc., SAP SE, Solver Inc., Unit4 NV, Vena Solutions Inc., Wolters Kluwer NV, Workday Inc., and Workiva Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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