The market size of Global Corporate Performance Management Software Industry is projected to reach nearly USD 6 billion by 2028, exhibiting a robust CAGR of over 12% during 2021-2028. Corporate performance management is a type of software that monitors business performance, enterprise performance, and financial performance on the parameters of reporting, budgeting, scenario analysis, and financial planning. Corporates are fast adopting corporate performance management software to support dual performances such as mediating efficient financial business and to facilitate performance management based on individual organization. The CPM software facilitates individual and project performance crucial for corporate goals and strategies. Remodeling based on results and new forecasts also define corporate performance management software.
Many companies and organizations are adopting the vision of CPM (corporate performance management). Thus the future of global corporate performance management software industry market is attractive. The key influencing factors are the opportunities that the market exhibits over the forecast years. Convergence of CPM with BI and enterprise applications is likely to be the game changer. Historically, CPM (corporate performance management) was used within finance departments, but now it is designed for several enterprises to induce business intelligence systems, thus boosting the global corporate performance management software industry market. However, high costs required for deploying CPM (corporate performance management) systems, lack of technical training, and expertise are likely to hamper the market growth. Furthermore, in regards to the same, CPM has become the primary focus of executives. They have started building dedicated departments that are responsible for managing the CPM (corporate performance management) within the company. This has resulted into improved revenue and profits anticipated to be an opportunity for the global corporate performance management software industry market.
Adroit Market Research report presents a detailed analysis of the growth outlook of the global corporate performance management software industry market from 2021-2028. The report touches upon crucial touchpoints such as complete snapshot of over 100 companies, with estimated market sizes in terms of current demands, company rankings, and geographic analysis of the regions including Latin America, North America, Middle East, Europe, Asia, Africa, and the total world market. Factors such as drivers, restraints, strengths, weaknesses, and opportunities are studied in the report. The historic year considered for the study in the report is from 2019-2020, with 2020 as the base year. The report presents the current financial position of the market at the country and global levels. The study assesses the market based on the Porter's five forces analysis, primary & secondary research. The geographic footprint and strategic initiatives of the market player are presented in the report.
The CPM market has experienced solid growth and turbulence as vendors continue to provide different functionalities and viable solutions according to business requirements. These vendors have expanded their offerings through analysis of information systems enabling clients produce better reporting and stay ahead of the competition.
Based on type segment, the market is broadly classified into solutions and services. In 2020, the solutions segment witnessed massive market growth. The market growth of this segment is mainly accredited to the growing demand for the viable solutions to minimize administrate burden and improve functional outcome cost efficiently. Growth in the business requirements from large and mid-size companies is further expected to encourage growth in the forecast years.
The North American region witnessed major growth in the previous years and is anticipated to capture good growth in the forecasted years. This is due to increasing demand, increasing competition, and business optimization strategies adopted by the business operating in the region. However, the China region is projected to record highest growth in the market businesses in the region are adopting CPM software for better decision making and insights. These are key factors driving growth of corporate performance management software market in the region.
The key companies in the corporate performance management software industry market include VisualCue Technologies, Sightline Systems, Longview Solutions, EcoSys Management, Adaptive Insights, SAS Institute, Oracle, SAP SE, and International Business Machines among others. The market is consolidated by mega vendors blocking smaller vendors and new entrants making the harder to compete in the market. However, the emerging player and smaller vendors are providing flexible solutions, more responsive, and affordable solutions according to business requirements. It is furthering the development of new and smaller vendors in the Global Corporate Performance Management Software Industry Market.
Key Segments of the Global Corporate Performance Management (CPM) Software Industry Market
Type Overview, 2021-2028 (USD Billion)
Application Overview, 2021-2028 (USD Billion)
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Regional Overview, 2021-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa