Rockville, March 18, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a provider of market research and competitive intelligence, the global enterprise performance management software (EPMS) market is estimated at US$ 3,940.3 million in 2024, projected to grow steadily with a 4.6% CAGR through 2034. The market is projected to account for a valuation of US$ 6,182.9 million by 2034.
The demand for EPMS solutions is driven by increasing reliance on data-driven decision-making across industries. Businesses seek comprehensive solutions that can gather, analyze, and present data in meaningful ways to aid strategic decision-making.
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The increasing reliance on data-driven decision-making across industries is driving the demand for EPMS. Enterprises are looking for comprehensive solutions that can collect, analyze and deliver data in meaningful ways to help make strategic decisions. EPMS tools provide budgeting, forecasting, planning, and analytics services, enabling organizations to better optimize their processes and products Integrating advanced analytics, machine learning, and AI capabilities into EPMS solutions enhances. Companies must prioritize operational excellence to remain competitive.
These technologies for businesses deeper insights, predictions, trends, and accuracy. They also empower you to make predictions, increasing overall productivity. The transition to cloud-based EPMS offerings is an important development. Cloud solutions provide scalability, accessibility, and cost-effectiveness, enabling businesses to access powerful business management tools with minimal infrastructure investment.
As businesses expand globally, the need for business about management tools standardized, and centralized increases. EPMS solutions provide an integrated way to manage applications across multiple regions or sub-units. Given the growing need for real-time insights into business performance. An EPMS solution that provides real-time data analysis, reporting, and analytics capabilities is in high demand to enable faster decision-making.
Key Takeaways from Market Study
- The North America enterprise performance management software (EPMS) market is expected to grow at a CAGR of 3.8% through 2034.
- The enterprise performance management software (EPMS) industry in the United States holds a dominant share of 81.5% in 2024. The United States dominates the global enterprise performance management software (EPMS) market, valued at US$ 918.4 million in 2024.
- The enterprise performance management software (EPMS) industry in China is expected to rise at a CAGR of 5.0% through 2034.
- Based on deployment, the on-premise segment held a 77.3% market share in 2024.
- The services segment dominates applications with a 76.3% share in 2024.
“The growing demand for tools for budgeting, forecasting, and financial analysis to drive strategic decision-making and optimize resource allocation are boosting demand for EPMS,” remarks an analyst at Fact.MR.
Competitive Landscape
Major players in the market prioritize research and development to advance their software, incorporating AI, machine learning, predictive analytics, and user-friendly interfaces to cater to changing customer demands. They expand their offerings by acquiring companies, forming partnerships, or developing new products in-house to broaden their product portfolios.
- In October 2023 - Vena has recently become a member of the Cloud Security Alliance (CSA), a globally recognized organization focused on establishing and promoting best practices for securing cloud computing environments. By joining forces with CSA, Vena reinforces its dedication to prioritizing the security of its customers' data. This strategic partnership signifies Vena's strong commitment to upholding robust security measures within its cloud-based services.
Key Companies Profiled:
- Anaplan Inc.
- Vena Solutions
- Board International
- SAP
- Prophix Software
- IBM
- Oracle
- Workday
- Sisense Ltd
- Corporater AS
| Report Attribute | Details |
| Value Projection (2034) | US$ 6,182.9 Million |
| Growth Rate (2024-2034) | 4.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 24 Tables |
| No. of Figures | 120 Figures |
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Rising Demand in Various Enterprises to Boost the Market Growth in United States
By 2034, projections indicate that the United States will maintain a dominant 79.5% share of the North American market. This is propelled by a burgeoning reliance on data-driven decision-making, spurring demand for Enterprise Performance Management (EPM) software. American enterprises are actively pursuing comprehensive solutions capable of handling vast data volumes and furnishing actionable insights crucial for strategic planning and performance evaluation.
Furthermore, escalating regulatory standards are catalyzing the uptake of EPM software across the nation. These tools serve as indispensable aids for businesses in adhering to regulatory mandates, particularly within finance-centric domains such as financial reporting, budgeting, and compliance management.
Simultaneously, the escalating focus on strategic business planning and maintaining competitiveness underscores the imperative for EPM software. These platforms not only streamline processes but also furnish essential features for scenario modeling, forecasting, and predictive analytics, thereby empowering organizations to navigate dynamic market landscapes effectively.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global enterprise performance management software (EPMS) market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024-2034.
The study reveals essential insights based on component (Software, Services) by Deployment (On-premise, Cloud) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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