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What’s driving the enterprise performance management market research? | BOARD International, Adaptive Insights, Host Analytics, HPE, Mesosphere, Oracle, IBM., Infor, SAP, Wolters Kluwer NV, Workiva, Cisco Systems, Datavail, Microsoft., Dell, Nimboxx, St
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Asia Pacific Enterprise Performance Management Market is anticipated to observe a lucrative growth from 2018 to 2024 due to the widespread adoption of these solutions by the BFSI sector. For instance, China International Finance Group streamlines planning and budgeting to accelerate profitability and support its international business with Oracle ERP and the Oracle EPM Cloud.
A rise in the number of SMEs will also accelerate the adoption of solutions as these solutions help finance and IT executives improve business predictability and allocate resources more efficiently. The growth of the retail sector in countries including China and India is expected to drive the massive uptake of solutions to manage the huge amount of data generated through several marketing & distributional channels. The profound growth of the retail sector in this region will also fuel the market growth.
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The implementation of cloud technology is also accelerating the adoption of cloud-based EPM software that makes it easier to deploy, lowers the cost of ownership, and enhances collaboration across the enterprise. Another factor accelerating the growth of the Enterprise Performance Management Market is the use of next-generation technologies such as AI and machine learning, enhancing the existing capabilities of EPM solutions.
The BFSI segment is expected to hold a major share of the Enterprise Performance Management Market due to the implementation of cloud technology by finance departments across a broad spectrum of the growing SMBs. To avoid on-premise upgrades that involve high operating costs and consume more time, organizations are adopting a cloud-model where the functionality can be easily updated, eliminating the need for hardware maintenance. The software complies all performance metrics to gauge potential outcomes and allow organizations to improve the accuracy of forecast and budgets.
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The Enterprise Performance Management Market is dominated by the prominent companies such as BOARD International, Adaptive Insights, Host Analytics, HPE, Mesosphere, Oracle, IBM., Infor, SAP, Wolters Kluwer NV, Workiva, Cisco Systems, Datavail, Microsoft., Dell, Nimboxx, and Stratoscale. The companies in the market are entering into strategic partnerships to offer custom EPM solutions to the clients globally. For instance, in September 2018, Wipro and Anaplan entered into a strategic partnership to deliver cloud EPM solutions. The company leveraged its expertise to implement Anaplan’s Connected Planning platform across the customers’ business functions.
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