Enterprise Performance Management Market Expected to Reach $12,562 Million Globally, by 2025
Asia-Pacific is expected to grow at a highest CAGR, owing to rise in need to increase focus on core business and improve performance of an organization.
PORTLAND, PORTLAND, OR, UNITED STATE, February 28, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, Enterprise Performance Management Market by Component, Deployment, Function, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2016-2025, the global enterprise performance management market was valued at $4,738 million in 2016, and is projected to reach at $12,562 million by 2025, growing at a CAGR of 11.70% from 2018 to 2025.
Rise in need for making business strategy transparent to all employees, increased focus on core business & improved scalability, and need to improve business performance drive the growth of the global enterprise performance management market. In addition, surge in adoption of cloud-based EPM and rise in demand for mobility are expected to provide numerous opportunities for the growth of the market. However, implementations risks and shifting of workload from on premise to cloud hamper the market growth.
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The global enterprise performance management market was led by the North America in 2016, and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth, registering a CAGR of 15.70% during the forecast period.
Based on industry vertical, the BFSI segment led the enterprise performance management market in 2016, and is projected to maintain its dominance in the future. However, the energy & utilities segment is expected to witness the highest growth, owing to its increased need of transparency of strategies among all the employees for improving the productivity.
Key Findings of the Enterprise Performance Management Market:
• The services segment is expected to exhibit significant increase in terms of revenue during the forecast period.
• In 2016, the BFSI segment accounted for the highest revenue among the other industry verticals.
• Finance segment accounted the highest revenue in 2016 among other functions.
• North America generated the highest revenue in 2016.
• Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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Some of the key players operating in the enterprise performance management market include Adaptive Insights Inc., Anaplan, Inc., BOARD International S.A., Host Analytics Inc., IBM Corporation, Infor Inc., Oracle, SAP SE, CCH Tagetik (Wolters Kluwer NV), and Workiva.
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