Enterprise Performance Management (EPM) Application Market by End-user, Deployment and Geography - Forecast and Analysis 2023-2027

Enterprise Performance Management Market Size 2023-2027

The Enterprise Performance Management Market size is estimated to increase by USD 2.21 billion and continued to grow at a CAGR of 7.19% between 2022 and 2027. The growth of the market depends on several factors, including compliance with regulations, the increased demand for cloud-based applications, and an increasing need for performance visibility. It is a tool for planning, budgeting, forecasting, and reporting enterprises' performance. This application links enterprises' business strategy with their financial plans and executions. This application enables enterprises to plan, budget, forecast, and manage key performance indicators (KPIs) by consolidating results, generating reports based on the results, and analyzing business performance.

What will be the Size of the Enterprise Performance Management Market During the Forecast Period?

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Market Segmentation

This market report extensively covers market segmentation by end-user (BFSI, telecom and IT, manufacturing, healthcare, and retail and others), deployment (on-premises and cloud), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By End-user

The BFSI segment is estimated to witness significant growth during the forecast period. Some of the main applications across organizations include financial planning, budgeting, forecasting, and financial and operational reporting. There is a growing adoption in the BFSI sector as they use it to streamline their financial planning and budgeting processes in line with their business strategies and plans. 

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The BFSI segment was the largest segment and was valued at USD 1.04 billion in 2017. Furthermore, enterprise management applications are increasingly adopted by the banking sector for several banking functionalities such as maintenance of balance sheets, profit, and loss, capital management, market liquidity, assets management, trading income management, and credit quality management. Also, this software can be leveraged for planning and analyzing profitability, overseeing regulations adherence, and aligning finance, treasury, and tax reporting. Hence, such applications are expected the fuel the growth of this segment which in turn will drive the global market growth during the forecast period.

The growing smartphone penetration is expected to increase the telecom and IT end-user segment during the forecast period. Some of the IT and telecommunications companies in the telecom and IT end-user segment are  AT and T Inc. (AT and T), Vodafone Group Plc (Vodafone), and Salseforce.com Inc. (Salesforce). Factors such as the growing use of smartphones, evolving business models, and the need to adhere to regulatory requirements. are expected to drive the growth of this segment which in turn will significantly contribute to the global market growth during the forecast period.

By Deployment

The high data security of the on-premise segment is expected to increase the global market growth during the forecast period. The on-premise segment is expected to have slow growth as the adoption of on-premises requires investments to be made in product purchases, installation, maintenance, and upgrades. In addition, organizations need to further invest in training an in-house IT workforce to support users of the software. But the segment is known for its high data security due to end-to-end quality control and no third-party interference. Hence, such factors will drive the growth of the segment and thereby increase the global market growth during the forecast period.

The scalability and flexibility of the cloud-based application segment are expected to increase the market growth during the forecast period. Some of the key advantages of cloud-based applications are their scalability and flexibility which makes it a popular choice among enterprises. Cloud infrastructure enables organizations to easily scale up or down their resources depending on their needs. Additionally, this cloud-based software has the functionality of easily adding or removing users, increasing storage capacity, or expanding computing power without the need for significant hardware investments. Hence, such applications will significantly contribute to the growth of this segment and fuel the global market growth during the forecast period.

Regional Overview

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors for the significant growth of the global market in North America is due to factors such as the growing requirement for regulatory compliance and the rising popularity of cloud-based applications over spreadsheets. Furthermore, the increasing complexities in financial planning procedures are significantly fuelling the growth of the adoption. Some of the key challenges faced by organizations include managing emerging, atypical risks during their financial planning and structuring. Hence enterprise management applications help to overcome these issues and streamline the process. Hence, such applications are expected to drive global market growth during the forecast period.

Market Dynamics and Customer Landscape

In today's hyperconnected world, 5G networks herald a new era of rapid data transmission and connectivity, impacting industries like the telecommunication industry. Enterprises, both Small and Medium and Large, leverage EPM solutions for business process optimization, driving operational efficiency, and enhancing financial performance.

These solutions foster accountability and provide visibility into operations, enabling cost and profitability tracking and empowering organizations to predict and forecast future trends. With a focus on cost management and the adoption of Robotic Process Automation and Software-as-a-Service (SaaS) models, enterprises enhance Manufacturing competitiveness and embrace cloud deployment strategies for agility and scalability.

EPM solutions facilitate strategic planning, budgeting, and forecasting, enabling organizations to align Strategies and Plans effectively. They empower enterprises to conduct thorough performance analysis and maximize Return on Investment (ROI) for both internal and external shareholders. In this era of digital transformation, EPM solutions play a pivotal role in shaping the future of enterprise management, driving efficiency, and facilitating informed decision-making.

Key Market Driver

One of the key factors driving the market growth is the increasing need for performance visibility. The growing need for performance visibility is one of the main factors significantly contributing to the market growth. There is growing importance across organizations for gaining a holistic view of their performance across various functions and departments.

As a result, EPM applications play an essential role in fulfilling this requirement by offering the necessary tools and capabilities to capture, consolidate, and analyze performance data. By utilizing EPM, organizations can effectively monitor key metrics and KPIs, enabling them to track progress, identify trends, and evaluate performance against targets. Hence, such applications are expected to drive the global market growth during the forecast period.

Significant Market Trends

A key factor shaping the EPM application market growth is the blockchain-based applications. The development of financial planning IT solutions is significantly fuelling the increasing applications in blockchain and accounting technology. As there is a vast amount of transactional data that is analyzed for financial planning and forecasts, blockchain tools help businesses to record and process their transactions efficiently. 

Some of the key benefits of blockchain include a self-auditing process, faster transaction settlement, reduced risk handling, reduced error handling, and reduced operational costs. Hence, the growing adoption of blockchain in these applications can lead to better collaboration, efficiency, and cost-effectiveness for enterprises. Thus, such factors are expected to drive the global market growth during the forecast period.

Major Market Restrain

Implementation issues associated with these applications are the key challenges hindering market growth. One of the most crucial factors which influence the financial planning efficiency and business strategies of companies is the implementation of the application. Some of the key issues regarding these application integration include the age of the system and the need for integrating such applications into companies' in-house applications.

Another key challenge is that the implementation of this application takes longer time than the stipulated timeline. Additionally, businesses not only need to integrate their application with internal systems but also with external systems as well, such as mobile platforms and cloud-based applications which can lead to more delay. Thus, such factors are expected to hinder the global market growth during the forecast period.

Market Customer Landscape

The Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

 

Who are the Major Enterprise Performance Management Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Board International SA: The company offers enterprise performance management software for budgeting, planning and forecasting, profitability analysis, and financial consolidation.

Broadcom Inc: The company offers enterprise performance management to improve mainframe economics and increase business agility.

Capgemini Service SAS: The company offers enterprise performance management based on Aligned Organization, Informed Organization, and Integrated Organization.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Anaplan Inc.
• BearingPoint Holding BV
• Corporater AS
• Deloitte Touche Tohmatsu Ltd.
• Emtec Inc 
• HCL Technologies Ltd.
• Infor Inc.
• International Business Machines Corp.
• Jedox GmbH
• Kepion Inc.
• Oracle Corp.
• SAP SE
• SAS Institute Inc.
• Telstra Ltd.
• The Hackett Group Inc.
• Vena Solutions Inc.
• Workiva Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

• End-user Outlook
  • BFSI
  • Telecom and IT
  • Manufacturing
  • Healthcare
  • Retail and others
• Deployment Outlook
  • On-premises
  • Cloud
• Geography Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

Enterprise Performance Management (EPM) solutions play a pivotal role in business process optimization and driving operational efficiency and financial performance. They ensure accountability by enabling cost and profitability tracking while empowering organizations to predict and forecast future trends. EPM solutions operate on a real-time basis, leveraging robust technological infrastructure and facilitating seamless software and hardware upgrades to support digital transformation.

With the rise of cloud applications and off-premises solutions, storing and managing EPM data, including metadata and master data, becomes more efficient. EPM software caters to diverse industries like manufacturing, automotive, aerospace, and electronics, ensuring compliance with government regulations and enhancing inventory management and supply chain integration. By offering advanced analytics and real-time information, EPM solutions enable organizations to make data-driven decisions and optimize cash flow and sales operations. Whether deployed on-premise or via cloud services, EPM solutions are vital for organizations across sectors, from BFSI to telecommunications, driving performance analysis and maximizing return on investment.

In today's dynamic business landscape, effective cost management is essential for sustainable growth. Enterprises rely on software upgrades and off-premises applications to streamline operations while efficiently storing and managing data. Robust system functions and flexible configuration options ensure seamless integration across diverse platforms, from traditional mainframe systems to modern browser-based systems.

Cost-conscious organizations seek cost reduction strategies, minimizing implementation costs by opting for cloud-based EPM software. These solutions benefit departments like the HR and finance, providing insights into project statuses and enhancing performance in the manufacturing sector, spanning heavy machinery, chemicals, and semiconductors. EPM solutions facilitate integrated supply chain management, optimizing product designing and operational planning while enabling accurate modeling and forecasting. They empower enterprises to align sales and operations effectively and streamline project planning and monthly financial reporting.

Amidst increasing digitalization, eGovernment initiatives and advancements in cloud deployment and Robotic Process Automation reshape the BFSI sector, driving diversification strategies and enhancing Manufacturing competitiveness. Whether deployed on-premise or via Software-as-a-Service (SaaS) models, EPM solutions enable enterprises, both Small and Medium and Large, to optimize revenue costs and overhead costs while maximizing return on investment for internal and external shareholders.

Enterprise Performance Management Market Scope
Report Coverage	Details
Page number	181
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.19%
Market growth 2023-2027	USD 2.21 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.4
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 44%
Key countries	US, Canada, UK, Germany, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Anaplan Inc., BearingPoint Holding BV, Board International SA, Broadcom Inc., Capgemini Service SAS, Corporater AS, Deloitte Touche Tohmatsu Ltd., Emtec Inc , HCL Technologies Ltd., Infor Inc., International Business Machines Corp., Jedox GmbH, Kepion Inc., Oracle Corp., SAP SE, SAS Institute Inc., Telstra Ltd., The Hackett Group Inc., Vena Solutions Inc., and Workiva Inc.
Market dynamics	Parent market analysis, Market forecasting, 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 market forecast period.
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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