LONDON--(BUSINESS WIRE)--The global enterprise performance management application market 2019-2023 is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Government bodies across the world are increasingly ratifying regulations regarding data collection, utilization, and storage. This is mainly to cater to the increasing volume, variety, and sensitive nature of data being generated and transferred across multiple industries. Enterprise performance management applications extract information pertaining to the regulations in a standardized format and store it in a central location, which can be used for all financial planning and reporting processes. Thus, compliance of regulations will increase the demand for enterprise performance management applications during the forecast period.
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As per Technavio, the use of RPA in enterprise performance management will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Enterprise performance management application Market: Use of RPA in Enterprise Performance Management
Automation has become the most trending topic across many industries, which has increased the adoption of RPA by many enterprises for automating their enterprise applications. RPA enables the automation of various business tasks, including data cleansing, data manipulation, triggering responses, and creating or updating metadata. Enterprises are increasingly implementing RPA to improve productivity and reduce costs incurred on manual and repetitive tasks. Hence, the use of RPA will be a key trend that will boost the growth of the market during the forecast period.
“Apart from the increasing use of RPA, the emergence of blockchain-based and AI-based enterprise performance management applications will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Enterprise performance management application Market: Segmentation Analysis
This market research report segments the global enterprise performance management application market by end-user (BFSI, telecom and IT, manufacturing, healthcare, retail, and other end-users) and geographical regions (MEA, South America, APAC, North America, and Europe).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The dominance of North America can be attributed to several factors such as the growing requirement for regulatory compliance and the rise in popularity of cloud-based enterprise performance management applications in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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