Global Enterprise Performance Management Market Size, Share, and COVID-19 Impact Analysis, By Offering (Solution and Services), By Deployment (On-premises and Cloud), By Enterprise Size (SMEs and Large Enterprises), By Function (Finance, Human Resources, Supply Chain, Sales and Marketing, and Other), By Vertical (BFSI, Retail & Consumer, Government & Education, Healthcare, Manufacturing, Telecom and IT, and Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Enterprise Performance Management Market Insights Forecasts to 2033

• The Global Enterprise Performance Management Market Size Was Estimated at USD 6.29 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.31% from 2023 to 2033
• The Worldwide Enterprise Performance Management Market Size is Expected to Reach USD 13.97 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Enterprise Performance Management Market Size is Anticipated to Exceed USD 13.97 Billion by 2033, Growing at a CAGR of 8.31% from 2023 to 2033. The market growth is rising due to the EPM empowers organizations to align strategy with execution through data-driven insights and operational efficiency. Its effective implementation ensures agility, compliance, and sustained growth in evolving market conditions.

Market Overview

The enterprise performance management market refers to the collection of procedures and computer programs that support businesses in forecasting, planning, budgeting, reporting, and analyzing their operations. Coordinating operational and financial objectives, offering performance insights, and enhancing flexibility in adapting to change facilitate better decision-making.

In government, enterprise performance management, or EPM, is becoming crucial because it helps agencies show results and match activities to mission-driven goals in the face of growing financing and public scrutiny. Performance metrics need to be relevant, according to experts Aaron Howard and Todd Hoffman. The first step is to ask, "Why are we measuring this, and why does it matter?" To increase transparency, control risk, and monitor results in the data-driven, highly accountable world of now, local governments need to combine people, processes, and technology. Agencies can enhance their ability to track accomplishments and promote community impact by transitioning from conventional organizational charts to process-oriented performance models.

EPM is widely used in many sectors to make strategic planning, forecasting, budgeting, and performance monitoring more efficient. It facilitates resource efficiency, compliance, and cash flow analysis in the financial industry. EPM increases profitability in industries including manufacturing, retail, and insurance by facilitating data-driven decision-making, anticipating trends, and coordinating operations with financial objectives. It is crucial for outperforming under erratic market situations because it integrates real-time analytics and automation, which decreases manual duties, enhances cooperation, and boosts agility.

Report Coverage

This research report categorizes the enterprise performance management market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the enterprise performance management market. Recent market developments and competitive strategies such as expansion, Type of Software launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the enterprise performance management market.

Driving Factors

The enterprise performance management market is experiencing rapid growth, driven by the firms to make well-informed decisions and match strategy with execution. Enterprise performance management, or EPM, is crucial. It supports growth and profitability by improving financial visibility, forecasting accuracy, and operational efficiency. EPM systems provide comprehensive tools for performance tracking and optimization in light of growing data complexity and digital transformation. They are particularly important for maintaining compliance and producing accurate reports in regulated businesses. However, strong cybersecurity and high-quality data are essential to EPM's success. Businesses may maintain their agility, competitiveness, and resilience under dynamic market situations with proper implementation.

Restraining Factors

The market growth is hindered by the EPM deployment may be hampered by a lack of technological training and application complexity, as these factors necessitate sophisticated infrastructure and knowledge that many firms do not possess. EPM system customization for certain business processes can be expensive and time-consuming. Furthermore, improper data coordination and storage might compromise the accuracy of EPM insights, making it difficult to integrate cloud apps with the current infrastructure. Reliability of data and successful execution depend on efficient coordination and integration.

Market Segmentation

The global enterprise performance management market is classified into offering, deployment, enterprise size, function, and vertical.

• The solution segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period.

Based on the offering, the enterprise performance management market is categorized into solution and services. Among these, the solution segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period. The segmental growth can be attributed to the rising need for EPM software programs that help businesses effectively handle budgeting, forecasting, financial planning, and performance evaluation. Businesses may track performance indicators, optimize operations, and make well-informed decisions with the support of the integrated features offered by the solutions. The demand for strong EPM solutions to boost operational effectiveness and facilitate data-driven decision-making is fueling the category's expansion as businesses embrace digital transformation projects at an increasing rate.

• The on-premises segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe.

Based on the deployment, the enterprise performance management market is categorized into on-premises and cloud. Among these, the on-premises segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe. The segmental growth can be attributed to the implementation and administration of EPM solutions inside an organization's infrastructure, usually on-site at their location. Organizations can customize their solutions to meet their unique needs using on-premises EPM systems. A unified and effective workflow is guaranteed by this smooth interaction with the current IT infrastructure and other business applications.

• The large enterprise segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the estimated period.

Based on the enterprise size, the enterprise performance management market is categorized into SMEs and large enterprises. Among these, the large enterprise segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the estimated period. The segmental growth can be attributed to the EPM is essential for large organizations to ensure compliance, improve decision-making, and streamline operations. Large businesses frequently face more complex issues, such as a variety of corporate divisions, several locations, a broad range of goods and services, and ever-changing regulatory requirements. Organizations face significant hurdles as a result of the increasingly complex regulatory environments and the need for compliance adherence.

• The supply chain segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe.

Based on the function, the enterprise performance management market is categorized into finance, human resources, supply chain, sales and marketing, and other. Among these, the supply chain segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe. The segmental growth can be attributed to the increase in customer satisfaction, a cut down on delays, and optimization of operations by utilizing EPM solutions. It boosts consumer loyalty and gives businesses a competitive advantage, which propels market expansion.

• The IT and telecom segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the estimated period.

Based on the vertical, the enterprise performance management market is categorized into BFSI, retail & consumer, government & education, healthcare, manufacturing, telecom and IT, and other. Among these, the IT and telecom segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period. The segmental growth can be attributed to the organizations can monitor progress, set performance goals, and assess how well their plans are working. To accomplish their objectives, like raising market share or enhancing customer happiness, they use this to pinpoint problem areas and make data-driven choices, which eventually helps the enterprise performance management market grow.

Regional Segment Analysis of the Enterprise Performance Management Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the enterprise performance management market over the forecast period.

North America is anticipated to hold the largest share of the enterprise performance management market over the forecast period. The regional growth can be attributed to the growing uptake of initiatives for digital transformation. EPM solutions effectively manage the organizations that must comply with a multitude of regulatory standards about risk management, financial reporting, and data privacy, which propels the expansion of the regional market.

Asia Pacific is expected to grow at the fastest CAGR of the enterprise performance management market during the forecast period. In these regions, the growing economic development, digitalization, and greater investment by big vendors like SAS, SAP, IBM, and Oracle are expected. Businesses from important nations like China, Japan, Australia, and India are drawn to localized services and customized solutions. Businesses are improving operational performance, visibility, and cost-efficiency by implementing EPM solutions. Asia Pacific is therefore anticipated to have the greatest compound annual growth rate (CAGR) in the global EPM market throughout the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the enterprise performance management market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Oracle
• Jedox
• SAP
• Wolters Kluwer N.V.
• IBM Corporation
• Board International
• SAS Institute Inc.
• OneStream
• Anaplan, Inc.
• Workday, Inc.
• Unicorn Systems a.s.
• Kepion
• Epicor Software Corporation
• Anaplan
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Developments

• In December 2023, OneStream established a partnership with KPMG Spain to help Spanish businesses drive financial transformation and reduce business complexity. Furthermore, as part of this collaboration, both firms will provide advanced complete solutions that leverage each other's experience.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the enterprise performance management market based on the below-mentioned segments: 

Global Enterprise Performance Management Market, By Offering

• Solution
• Services

Global Enterprise Performance Management Market, By Deployment

• On-premises
• Cloud

Global Enterprise Performance Management Market, By Enterprise Size

• SMEs
• Large Enterprise

Global Enterprise Performance Management Market, By Function

• Finance
• Human Resources
• Supply Chain
• Sales and Marketing
• Other

Global Enterprise Performance Management Market, By Vertical

• BFSI
• Retail & Consumer
• Government & Education
• Healthcare
• Manufacturing
• Telecom and IT
• Other

Global Enterprise Performance Management Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa