Epm Market Overview
As per MRFR analysis, the Epm Market Size was estimated at 14.32 (USD Billion) in 2022.The EPM market Industry is expected to grow from 15.38(USD Billion) in 2023 to 29.36 (USD Billion) by 2032. The Epm Market CAGR (growth rate) is expected to be around 7.45% during the forecast period (2024 - 2032).
Key Epm Market Trends Highlighted
The EPM market is experiencing a surge in demand, driven by the increasing adoption of cloud-based solutions and the growing need for efficient performance management. As organizations strive to optimize their operations and enhance decision-making, EPM solutions offer a comprehensive suite of tools for planning, budgeting, forecasting, and performance analysis.Key market drivers include the rising complexity of supply chains, regulatory compliance mandates, and the need for improved visibility and control across the enterprise. Opportunities lie in the integration of EPM with other enterprise systems, the development of mobile-enabled solutions, and the expansion into emerging markets.
Recent trends in the EPM market include the adoption of artificial intelligence (AI) and machine learning (ML) to automate tasks and provide predictive insights, the integration of risk management capabilities, and the increasing demand for customized solutions tailored to specific industry verticals. By leveraging these trends, organizations can gain a competitive advantage by improving their performance management practices and driving operational excellence.
Figure1: Epm Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Epm Market Drivers
Rising Demand for Efficient Project Execution
Organizations across the globe have increasingly faced the challenge of effectively and efficiently completing complex projects on time, on budget, and at a desirable level of quality. Enterprise project management software serves as a central repository for managing all phases of a given project, including but not limited to planning, scheduling, resource and time allocation and risk management. By putting EPM solutions in place, organizations may streamline the process of plan execution, enhance inter-team cooperation, and get insight into both individual and general project progress on a real-time basis.As a result, such solutions have become increasingly attractive for a broad array of industries, including construction, engineering, manufacturing and IT. The growing popularity of agile methods and the need for real-time monitoring must serve as drivers for such solutions in the Epm Market Industry.
Growing Need for Real-Time Project Visibility
In the current fast-paced dynamics of business, firms need to have a real-time view of the status of their projects in order to make useful decisions and reduce risks effectively. The advent of various EPM software has allowed stakeholders to measure how the project is proceeding, ascertain if there is a bottleneck in the continuation of the project, and address it right away. As such, decision making has also been way much better besides making projects more successful.This is one of the important reasons why many organizations have been adopting these tools to remain relevant in the evolving Epm Market Industry.
Increasing Adoption of Cloud-Based EPM Solutions
The rise of cloud technology is rapidly minting significant reputable acceptance of EPM solutions since they are relatively easy to use and cost-effective. This means by using a cloud-based EPM platform, an organization is able to access project data while on the move, whether at home in the office, or even in another country. This flexibility allows teams to collaborate more effectively, improve communication, and streamline project execution processes. Additionally, cloud-based EPM solutions eliminate the need for on-premise infrastructure and IT support, reducing the overall cost of ownership in the EPM market Industry.
Epm Market Segment Insights
Epm Market Deployment Type Insights
The Epm Market has been segmented on the basis of deployment type into cloud-based and on-premises. The cloud-based segment is projected to experience growth over the forecast period due to the increased adoption of cloud computing services by businesses of all sizes. Cloud-based EPM solutions have a number of advantages over on-premises solutions. For example, cloud-based solutions tend to have lower costs and offer more flexibility, as well as enhanced scalability. Cloud-based EPM solutions can also be accessed from anywhere, which makes them more suitable for businesses with remote employees or employees in multiple locations.The on-premises segment, in contrast, is expected to experience much slower growth over the forecast period due to many companies switching to cloud-based solutions.
There are still a number of advantages associated with the use of on-premises EPM solutions over cloud-based solutions. For example, using on-premises solutions can grant more control over data. Furthermore, although cloud-based technology is becoming much more secure, many companies may be slow to adopt the technology due to security concerns. Thus, it is expected that the on-premises segment will play a major role in the EPM market.In the year 2023, cloud-based deployment accounted for approximately 40% of the EPM market revenues. This share is expected to rise to over 60% by the year 2032, which demonstrates the faster growth of the cloud-based segment. The growth of the cloud-based segment of the EPM market is being driven by the increased adoption of cloud-based EPM solutions by businesses of all sizes.
Figure2: Epm Market, By Deployment Type, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Epm Market Organization Size Insights
The Epm Market is segmented by organization size into small and medium-sized enterprises (SMEs) and large enterprises. SMEs are expected to account for a significant share of the market in 2023, owing to their increasing adoption of cloud-based EPM solutions and the growing need for cost-effective and efficient business management tools. Large enterprises, on the other hand, are expected to witness steady growth in the market due to their complex business operations and the need for comprehensive EPM solutions. The increasing adoption of EPM solutions by large enterprises is expected to drive market growth in the coming years.
Epm Market Industry Vertical Insights
The Epm Market segmentation provides valuable insights into the performance and growth potential of specific industries within the overall market. In 2023, the Banking, Financial Services and Insurance (BFSI) sector accounted for a significant share of the EPM market revenue, estimated at USD 2.56 billion. The Healthcare industry is projected to witness robust growth in the coming years, driven by increasing demand for personalized medicine and advanced medical technologies.
The Manufacturing segment held a notable market share in 2023 and is anticipated to maintain its position due to growing automation and digitization in manufacturing processes.The Retail industry is expected to experience steady growth, fueled by the rise of e-commerce and omnichannel retailing. The Telecommunications sector is poised for significant growth, driven by the proliferation of mobile devices and the increasing adoption of cloud-based services. These industry-specific insights provide a granular understanding of the EPM market dynamics and enable stakeholders to make informed decisions for targeted growth strategies.
Epm Market Functional Area Insights
The Operations segment held the largest share of the Epm Market revenue in 2023, accounting for around 30%. This dominance is attributed to the increasing adoption of EPM solutions to optimize operational efficiency, reduce costs, and improve decision-making. The Finance segment is projected to witness significant growth over the forecast period, driven by the rising need for financial planning, budgeting, and forecasting capabilities.
The Human Resources segment is expected to gain traction due to the growing importance of talent management, workforce planning and performance evaluation.The Customer Relationship Management (CRM) segment is anticipated to contribute substantially to the EPM market growth, driven by the increasing adoption of CRM solutions to enhance customer engagement, manage customer data, and improve sales effectiveness. The Sales segment is expected to hold a significant share of the market, as EPM solutions help sales teams track leads, manage pipelines and close deals more efficiently.
Epm Market EPM Capabilities Insights
The EPM Capabilities segment plays a crucial role in the EPM Market. In 2023, the Enterprise Resource Planning (ERP) segment held the largest market share, driven by its comprehensive capabilities in resource planning, financial management, and supply chain management. The Supply Chain Management (SCM) segment is expected to witness significant growth in the coming years, owing to increasing ization and supply chain complexities.
The Customer Relationship Management (CRM) segment focuses on managing customer interactions and building strong customer relationships and it is anticipated to grow steadily.The Human Capital Management (HCM) segment, which involves managing employee data and processes, is expected to expand as organizations prioritize employee well-being and productivity. The Financial Management segment, covering financial planning, budgeting and reporting, is projected to witness consistent growth due to the need for accurate financial data for decision-making.
Epm Market Regional Insights
The Epm Market revenue is expected to witness a significant rise, reaching USD 18.59 billion by 2024, expanding at a CAGR of 8.6% during the forecast period. Geographically, North America and Europe hold a significant market share in the Epm Market, with a combined contribution of over 60% to the overall market revenue. The Asia Pacific region is anticipated to exhibit the highest growth rate during the forecast period, owing to the increasing adoption of EPM solutions by enterprises in the region. South America and MEA are expected to contribute a smaller share of the EPM market.
Figure3: Epm Market, By Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Epm Market Key Players And Competitive Insights
Major players in Epm Market industry are constantly striving to gain a competitive advantage by investing in research and development, expanding their product portfolios, and entering into strategic partnerships. The Epm Market industry is characterized by intense competition, with leading Epm Market players like SAP SE, Oracle Corporation, IBM Corporation, Infor, Epicor Software Corporation, Microsoft Corporation, IFS AB, QAD Inc., Epicor Software Corporation, and DELMIA (Dassault Systems) continuously vying for market share. Epm Market development is driven by factors such as increasing demand for real-time data and analytics, the need for improved decision-making, and the adoption of cloud-based solutions.
The EPM market Competitive Landscape is expected to remain fragmented, with new entrants and niche players emerging to cater to specific market segments.Epicor Software Corporation is a leading provider of enterprise resource planning (ERP) and enterprise performance management (EPM) software solutions. The company's EPM solutions are designed to help organizations improve their financial performance, operational efficiency, and compliance. Epicor Software Corporation's EPM solutions include modules for financial management, project management, and supply chain management.
The company's EPM solutions are used by a wide range of industries, including manufacturing, distribution, and healthcare.Infor is a leading provider of cloud-based business applications. The company's EPM solutions are designed to help organizations improve their financial performance, operational efficiency, and compliance. Infor's EPM solutions include modules for financial management, project management, and supply chain management. The company's EPM solutions are used by a wide range of industries, including manufacturing, distribution, and healthcare. Infor's EPM solutions are known for their ease of use, scalability, and flexibility. The company's EPM solutions are also highly customizable, allowing organizations to tailor the solutions to their specific needs.
Key Companies in the Epm Market Include
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Emtec Maschinenfabrike
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Kadant
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BW Paper Systems
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Stora Enso
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BillerudKorsnäs
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Valmet
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Papcel
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Andritz
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Metso Outotec
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Albany International
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Sulzer
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Voith
Epm Market Industry Developments
The EPM market is projected to reach USD 29.36 billion by 2032, exhibiting a CAGR of 7.45% during the forecast period (2024-2032). Key factors driving market growth include increasing demand for real-time data analytics, growing adoption of cloud-based EPM solutions, and rising need for improved financial planning and analysis. Recent developments in the market include the launch of new AI-powered EPM tools and strategic partnerships between EPM vendors and technology providers. Major players in the market include Oracle, SAP, IBM, and Infor.
Epm Market Segmentation Insights
Epm Market Deployment Type Outlook
Epm Market Organization Size Outlook
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Epm Market Industry Vertical Outlook
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Manufacturing
- Retail
- Telecommunications
Epm Market Functional Area Outlook
- Operations
- Finance
- Human Resources
- Customer Relationship Management (CRM)
- Sales
Epm Market EPM Capabilities Outlook
- Enterprise Resource Planning (ERP)
- Supply Chain Management (SCM)
- Customer Relationship Management (CRM)
- Human Capital Management (HCM)
- Financial Management
Epm Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.32(USD Billion) |
| Market Size 2023 |
15.38(USD Billion) |
| Market Size 2032 |
29.36(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.45% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Emtec Maschinenfabrike, Kadant, BW Paper Systems, Stora Enso, BillerudKorsnäs, Valmet, Papcel, Andritz, Metso Outotec, Albany International, Sulzer, Voith |
| Segments Covered |
Deployment Type, Organization Size, Industry Vertical, Functional Area, EPM Capabilities, Regional |
| Key Market Opportunities |
Enterprise performance management EPM software cloud deployment artificial intelligence AI machine learning ML data analytics |
| Key Market Dynamics |
Increasing demand for technological advancements, growing adoption |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The EPM Market is expected to reach a valuation of 15.38 Billion USD in 2023.
The EPM Market is projected to grow at a CAGR of 7.45% from 2024 to 2032.
North America is expected to account for the largest market share in the EPM Market in 2023.
The primary consumers of EPM solutions are expected to be the manufacturing, healthcare, and financial services industries.
Some of the key competitors in the EPM Market include SAP, Oracle, IBM, and Infor.
The key trends driving the growth of the EPM Market include the increasing adoption of cloud-based EPM solutions, the growing need for real-time data and analytics, and the increasing focus on improving operational efficiency.
The challenges faced by the EPM Market include the high cost of implementation and maintenance, the lack of skilled professionals, and the complexity of EPM systems.
The opportunities for growth in the EPM Market include the increasing adoption of EPM solutions by small and medium-sized businesses, the development of new and innovative EPM solutions, and the growing demand for EPM solutions in emerging markets.
The key factors to consider when selecting an EPM solution include the size and complexity of your organization, your budget, your implementation timeline, and your specific business needs.
The benefits of implementing an EPM solution include improved financial planning and forecasting, increased operational efficiency, reduced costs, and improved decision-making.
