Market Insights Technology Software Enterprise Software

Enterprise Performance Management Software - Lithuania

Lithuania

Revenue in the Enterprise Performance Management Software market is projected to reach US$1.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.99%, resulting in a market volume of US$1.64m by 2028.
The average Spend per Employee in the Enterprise Performance Management Software market is projected to reach US$1.03 in 2024.
In global comparison, most revenue will be generated in the United States (US$2,708.00m in 2024).

Key regions: Netherlands, Germany, United States, Japan, Australia

Market

Region

Region comparison

Currency

Analyst Opinion

The Enterprise Performance Management Software market in Lithuania has seen a significant increase in demand in recent years.

Customer preferences: Lithuanian companies have shown a growing interest in Enterprise Performance Management (EPM) software due to the need to streamline their financial processes and improve their decision-making capabilities. The software is particularly popular among large corporations and financial institutions, which require advanced tools to manage their complex financial operations.

Trends in the market: The EPM software market in Lithuania is expected to continue growing in the coming years, driven by the increasing demand for cloud-based solutions and the growing adoption of advanced analytics and reporting tools. The market is also expected to benefit from the growing trend of digital transformation, as companies seek to automate their financial processes and improve their operational efficiency.

Local special circumstances: One of the key factors driving the growth of the EPM software market in Lithuania is the country's strong economic growth and favorable business environment. Lithuania has been ranked as one of the top countries in Europe for ease of doing business, which has attracted a growing number of foreign investors and multinational corporations to the country. This has created a strong demand for advanced financial management tools, such as EPM software.

Underlying macroeconomic factors: The growth of the EPM software market in Lithuania is also being supported by a number of underlying macroeconomic factors, such as the country's highly skilled workforce, advanced IT infrastructure, and favorable government policies. The Lithuanian government has been actively promoting the development of the country's IT sector, which has helped to attract a growing number of IT companies and startups to the country. This has created a strong ecosystem for innovation and technology development, which has helped to drive the growth of the EPM software market in Lithuania.

Methodology

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.