Research Nester recently published report titled “Enterprise Performance Management Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the EPM in terms of market segmentation by component, by function, by end-users.
The global enterprise performance management (EPM) market is segmented by component into software and services; by function into sales & marketing, operation, finance, supply chain, human resource and others; by end-users into BFSI, retail, e-commerce, manufacturing, logistics and others and by region. The global EPM market is anticipated to record a CAGR of 11% over the forecast period i.e. 2019-2027.
Rising adoption of Cloud Computing
With the introduction of cloud computing, the future of EPM market has started to change. Organizations are shifting towards cloud-based models to increase efficiency of workflow. EPM software helps in constantly monitoring and analyzing the work performance to identify the overhead cost, revenue cost and operational cost in an organization. These factors boost the market growth over the forecast period.
Adoption of Data Driven Decision Making
In recent years, there is change in data storage and processing, the new way of collecting the data helps the managers in decision making. Top performing companies operate in a data driven culture and make their business decision by the help of data. Large IT companies frequently invest in data tracking and processing as an effective strategy in order to assist with the decision-making process. Such factors are expected to positively impact the enterprise performance management market over the forecast period.
The market in North America is expected to display a strong growth on the back of increasing trend of cloud technology. Further, the Europe market for EPM is anticipated to induce a budding growth with the increasing utilization of data management solution.
The market in Asia Pacific is estimated to grow significantly during the forecast period on account of increasing adoption of effective enterprise performance management solutions. Also, on account of easy availability of skilled labor in the Asian countries, it can be observed that an increasing number of companies changing their base of production & development to these areas.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the EPM market which includes company profiling of Oracle, IBM, SAP, KPMG, HCL Technologies, Capgemini, Deloitte and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Enterprise Performance Management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.