About Performance Management Software
Performance Management Software are comprehensive solutions which enables managers and top management of a firm to assess and determine the productivity of their projects, employees and systems. This allows them to make better management decision and track the implementation of a decision. That leads to seamless execution of pending issues and thus meeting of business goals. Few of the applications of performance management software include reporting and compliance, enterprise planning and budgeting, employee performance management among others. The performance management solutions can be deployed for human resource, finance, supply chain and production, as well as other related operations. Global growth in adoption of cloud computing based solutions has led to significant growth of the performance management software market. Geographically, Asia Pacific Accounts for largest market share.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Performance Management Software market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), Prevero AG (Germany), BMC Software, Inc. (United States), Microsoft Corporation (United States), SAS Institute Inc. (United States), Keynote Systems, Inc. (United States), Hewlett-Packard Company (United States) and CA Technologies, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Compuware Corporation (United States), Jedox AG (Germany) and Anaplan, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Performance Management Software market by , Application (Enterprise Planning and Budgeting, Integrated Performance Management System, Reporting and Compliance, Financial Consolidation and Others) and Region.
On the basis of geography, the market of Performance Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Org, the sub-segment i.e. SMEs will boost the Performance Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering , the sub-segment i.e. Human Resource will boost the Performance Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. Cloud Based will boost the Performance Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Popularity of Software as a Service (SaaS) Delivery Model
Market Growth Drivers:
Rising Adoption of Cloud Computing Based Solutions and Increasing Advancement in Technology based Solutions to Increase Productivity
Challenges:
High Cost of Deploying Good Performance Management Software Solution
Restraints:
High Competition in the Performance Management Software Market
Opportunities:
Mobile Performance Management Solutions are on Rise, Specifically due to Recent Pandemic as well as they being looked upon as Primary Option in SMEs
Market Leaders and their expansionary development strategies
In 2020, Advanced Business Solutions, a United Kingdom based market leader in business software and services provider has announced acquisition of Clear Review, which is a performance management and employee engagement software company. The acquisition is in line with Advanced’s growing cloud HR capabilities. With global pandemic, managers in various enterprises are searching for tools and solutions which would enable them to increase the productivity of their teams, thus presenting huge market scope for growth.
In 2020, IBM Corporation, the global cloud computing and AI giant has announced acquisition of Instana, which is German-American software firm specialising in application performance management software solutions. Insana deploys Artificial Intelligence to assess various performance metrics in order to determine the acceptable performance norms of applications. The acquisition is synced with IBM’s continued investments in Hybrid cloud, artificial intelligence and big data capabilities.
Key Target Audience
Performance Management Software Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.