Key regions: Netherlands, Germany, United States, Japan, Australia
The Enterprise Performance Management Software market in Israel has been steadily growing over the past few years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Israeli customers have shown a strong preference for cloud-based EPM solutions, as they offer greater flexibility, scalability, and cost-effectiveness. This trend is in line with the global shift towards cloud-based software solutions, which has been driven by the increasing need for remote work and digital transformation.
Trends in the market: One of the key trends in the Israeli EPM market is the increasing demand for integrated solutions that can handle multiple functions such as financial planning, budgeting, forecasting, and reporting. This trend is driven by the need for greater efficiency and accuracy in financial management, as well as the desire to streamline processes and reduce costs.Another trend in the Israeli market is the growing importance of data analytics and business intelligence. Israeli companies are increasingly using data-driven insights to inform their decision-making processes, and EPM solutions that can provide these insights are in high demand. This trend is in line with the global trend towards data-driven decision making, which has been driven by the increasing availability of data and advances in analytics technology.
Local special circumstances: Israel is known for its thriving startup ecosystem, and this has had an impact on the EPM market. Many Israeli startups are focused on developing innovative EPM solutions that can help businesses improve their financial management processes. This has led to a highly competitive market, with many new players entering the market each year.
Underlying macroeconomic factors: Israel has a strong and growing economy, with a high level of innovation and entrepreneurship. This has created a favorable environment for the EPM market, as businesses are increasingly looking for ways to improve their financial management processes and stay competitive. In addition, the Israeli government has been supportive of the tech industry, providing funding and incentives for startups and other tech companies. This has helped to fuel innovation and growth in the EPM market.
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.Forecasts:
We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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