Global Enterprise Performance Management Software (EPMS) Market to expand at a 4.6% CAGR through 2034, reaching US$ 6,182.9 million- Fact.MR

ROCKVILLE, MD, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- 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.

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.

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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.

Some of the key companies in the enterprise performance management software industry are Anaplan, Inc, Vena Solutions, Board International, SAP, Prophix Software, IBM, Oracle, Workday, Sisense Ltd, and Corporater AS.

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Insights by country:

By the end of 2034, the US is expected to control 79.5% of the North American market. The need for EPM software was being driven by the increasing focus on making decisions based on data. American businesses were looking for reliable systems that could handle massive amounts of data and deliver insights that could be put to use for performance management and strategic planning.

EPM software adoption in the nation is being driven by national regulatory compliance criteria becoming more and more demanding. In particular, these technologies helped with finance-related tasks like budgeting, compliance management, and financial reporting, which helped businesses comply with regulatory obligations.

The demand for EPM software to support these procedures and offer the required capabilities for scenario modeling, forecasting, and predictive analytics stems from the increased emphasis on strategic business planning and maintaining competitiveness.

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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