Enterprise Performance Management Market

The global enterprise performance management market size was valued at USD 5,797.6 million in 2021, is projected to reach USD 10,106.5 million by 2030, expanding at a CAGR of 6.51% during the forecast period, 2022–2030. The growth of the market is attributed to the increasing focus on core business & improved scalability.

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Enterprise performance management (EPM) is a strategy-to-plan-to-execution process that helps businesses, government agencies, and NGOs connect their strategies to their plans and execution. Budgeting, planning, forecasting, and modelling are examples of management processes covered by EPM. It assesses performance and aids in the formulation of well-informed decisions. The findings of EPM software may be reported to both internal and external stakeholders. In September 2020, Anaplan unveiled PlanIQ a new intelligence platform that provides sophisticated AI and Machine Learning (ML) capabilities for predictive forecasting and continuous, agile scenario modelling. Plan IQ was created to make complex analytics more approachable. It generates explainable insights and projections that is expected to help enhance plan accuracy and support confident decision-making.

The COVID-19 pandemic is a serious and urgent public health disaster. Some nations allow businesses to reopen, while others are still combating the virus. In order to preserve operational efficiency, businesses have been obliged to adapt their present ways of working and revaluate operational decisions as a result of social distance.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing operational efficiency by optimizing business processes is expected to drive the market.
• Improved profitability by reducing the operational cost is projected to propel the market during the forecast period.
• Lack of technological planning and application complexity is anticipated to hinder the market.
• High cost of deploying EPM systems is expected to hamper the market in the coming years.
• Rising requirements for regulatory compliance and security is projected to create lucrative opportunities for market players. 

Scope of the Report

The report on the global enterprise performance management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Supply chain segment to expand at a considerable CAGR

On the basis of products, the enterprise performance management market is segmented into supply chain, finance, and HR. The supply chain segment is projected to expand at a considerable CAGR during the forecast period. The use of methodologies, procedures, measurements, and technology to build a consistent link between supply chain strategy, execution, planning, and controlling is referred to as enterprise performance management. The finance segment is anticipated to account for a major market share during the forecast period. EPM refers to the procedures that businesses use to budget, plan, predict, and report on their business performance, as well as consolidate and complete their financial statements.

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Cloud-based segment to hold a significant share of the market

Based on deployments, the market is bifurcated into on-premise and cloud-based. The cloud-based segment is expected to hold a significant share of the market in the coming years, due to the increasing demand for cloud-based enterprise performance management software.  The on-premise segment accounts for a significant market share, owing to increasing operational efficiency of the enterprises. 

BFSI segment to expand at a substantial CAGR

On the basis of applications, the enterprise performance management market is segregated into retail, IT & telecom, manufacturing, and BFSI. The BFSI segment is anticipated to expand at a substantial CAGR during the forecast period. EPM systems assist the company in conforming to the business's compliance security criteria. The IT & telecom segment is expected to hold a significant share of the market. Data integrity and confidentiality are likewise protected by EPM systems. 

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the enterprise performance management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period, owing to digital hubs in the region. The market in North America is anticipated to expand at a rapid pace during the forecast period, due to robust government support.

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Segments

The global enterprise performance management market has been segmented on the basis of

• Supply Chain
• Finance
• HR

• On-premise
• Cloud-based

• Retail
• IT & Telecom
• Manufacturing
• BFSI

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

• Epicor Software
• Oracle
• SAP
• Infor
• IBM
• Workday
• Anaplan
• Unicom Systems
• Planful
• Unit4

Competitive Landscape

Key players competing in the global enterprise performance management market are Epicor Software; Oracle; SAP; Infor; IBM; Workday; Anaplan; Unicom Systems; Planful; and Unit4.

Product launches and other organic growth tactics such as patents and events are being prioritized by a number of firms. The UNICOM Digital Transformation Toolkit (UDTT) 10.2 was released in April 2021 by UNICOM Systems, Inc. The UNICOM Digital Transformation Toolkit facilitates the creation of multichannel applications, particularly in the banking industry. It delivers customized, multichannel marketing campaigns for retail banking using runtime architecture based on IBM WebSphere Application Server. UDTT provides a development environment with design templates to enable high-volume and transactional-oriented banking services.