Farmington, May 12, 2023 (GLOBE NEWSWIRE) -- The Global Corporate Performance Management (CPM) Software Market size was valued at USD 5.9 billion in 2022 and is projected to reach USD 10.1 billion by 2030, growing at a CAGR of 6.50% from 2023 to 2030. However, a dearth of technical expertise and ambiguous business requirements that result in business failure are likely to impede market expansion. Moreover, advancements in AI and BI are assisting CFOs and other business leaders to increase organizational performance and manage strategy in a more controlled and transparent manner, which is anticipated to present an opportunity for the global market for corporate performance management software.
The global market for corporate performance management (also known as CPM) is expected to keep expanding over the next several years. There is a correlation between business intelligence and corporate performance management, which is a component of the process of business planning. It entails controlling and evaluating the performance of an organization in order to enhance productivity, come closer to meeting performance goals, and make business operations run more efficiently.
Enterprise performance management software is a type of software that monitors several aspects of business performance, including financial performance, corporate performance, and business performance overall. Reporting, budgeting, scenario analysis, financial planning, and financial forecasting are some of the functions that are incorporated into enterprise performance management software. The CPM satisfies two of the requirements. Enterprise performance management software boosts the efficiency of financial operations and makes performance management easier to implement on an individual organizational level. The performance of individuals and projects is driven by CPM software, which is essential to the achievement of business goals and initiatives. Enterprise performance management software can be defined as a process that involves remodeling depending on results and new projections. The enterprise performance management software market is seeing a growing adoption of CMP software by vendors as they look to expand their product lines in order to maintain a competitive position.
Request Sample Copy of Report “Corporate Performance Management (CPM) Software Market Size, Share & Trends Estimation Reports By Type Outlook (Cloud-based Corporate Performance Management, Browser-based Corporate Performance Management), By Application Outlook (Small Enterprises, Medium Enterprises, Large Enterprises), By Region and Forecasts, 2022-2030.”, published by Contrive Datum Insights.
Segmentation Overview:
Deployment Outlook:
Depending on corporate performance management (CPM) software market given are types: On-Premises, Cloud Based. The On-premises type will capture the maximum market share through 2027.
Organization Size Outlook:
The market is divided in Large Enterprises, Medium Enterprises, Small Enterprises based on application. The global corporate performance management (CPM) software market players in cover segment like Large enterprises will dominate the market share during 2022-2027.
Regional Analysis:
The United States is the world's largest market for corporate performance management (CPM) software. The US market accounts for approximately 52% of the global market, while Europe and Asia-Pacific account for approximately 30% and 11%, respectively. One of the lucrative regions for the corporate performance management (CPM) software market is North America. The increasing adoption of advanced technologies among regional businesses is one of the primary factors driving this market's growth.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 10.1 billion |
| By Deployment Type |
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| By Organization Size |
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| By Industries |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Market Driver:
The benefits of CPM software are one of the main growth drivers for the market for CPM software. Corporate performance management (CPM) is a subset of business intelligence (BI) that monitors and manages the performance of an organization based on key performance indicators (KPIs) such as revenue, return on investment (ROI), overhead, and operational expenses. A CPM solution transforms useful and meaningful information into structured performance metrics to aid in the decision-making process of an organization. CPM solutions simplify the accumulation, aggregation, and reporting of data from multiple sources, delivering faster results in shorter timeframes. CPM provides confidence and trust in your financial data, as well as job traceability and workflow capabilities. This will drive the growth of the CPM software market over the forecast period.
Market Trend
Artificial intelligence-enabled CPM software is one of the most significant enterprise performance management software market trends driving market growth. AI and ML have the potential to significantly improve the effectiveness and efficiency of business strategies. Ideally, these technologies will aid in enhancing the outcome of planning and the planning process itself, allowing planners to achieve more meaningful results more quickly while reducing their burden. Companies utilizing AI, ML, and statistical methods can now achieve faster simulations, more accurate predictions, and greater automation of enterprise planning. Many market participants also offer CPM software that is propelled by AI. Jedox EPM solutions, for instance, help businesses accelerate planning, forecasting, and reporting. The solution combines AI and machine learning to assist finance teams in developing more accurate predictive models. These products will drive the expansion of the market for enterprise performance management software.
Market Challenge
The need for extensive technical training is one of the greatest obstacles impeding the development of the CPM software market. When evaluating CPM software, it is crucial to determine the level of technical expertise required to generate new reports and dashboards or modify existing ones. Numerous CPM software products are extremely complex and necessitate the participation of IT professionals whenever an organization requires modifications. Consequently, the total cost of ownership (TCO) increases. TCO can result in aggravating delays for the finance team due to its reliance on external departments. Generally. Developing and maintaining the requisite competencies and skills, as well as ensuring the availability of financial and human resources, are among the greatest market challenges. These factors may hinder the CPM software market's expansion over the forecast period.
Key Segments Covered:
Top Market Players:
- Oracle
- SAP
- IBM
- Microsoft
- One Stream Software
- Host Analytics
- Others.
By Deployment Type
- Cloud-based Corporate Performance Management
- Browser-based Corporate Performance Management
By Organization Size
- Small Enterprises
- Medium Enterprises
- Large Enterprises
By Industries
- Government
- Healthcare
- Retail
- Manufacturing
- Others
- BFSI
- IT and telecom
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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