Strategic Planning Software Market to Witness Massive Growth by 2028 | Oracle, SAP SE, IBM
Published Via 11Press : According to HTF MI, “Global Strategic Planning Software Market: Industry Size, Trends, Growth, Share, Opportunity and Forecast 2023-2029“. Between 2023 and 2028, it is predicted that the global market for strategic planning software will expand at a compound annual growth rate (CAGR) of 18.1%, reaching USD 1.7 billion in 2023 and USD 3.6 billion by 2028.
The organization’s short- and long-term goals may be defined using strategic planning software. Although they are constrained by the restraining factors of cost and budget constraints along with data quality and integration challenges, the driving forces of the growing complexity of the business environment and the need for integrated planning processes are the primary factors shaping the market dynamics of strategic planning software. However, it is anticipated that the market will continue to rise, propelled by the sizable potential prospects provided by the potent aspects of rising acceptance of digital transformation and emphasis on data-driven decision-making.
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In the coverage, important and rising players have been featured, including
- Oracle Corporation (US)
- SAP SE (Germany)
- IBM Corporation (US)
- Microsoft Corporation (US)
- Anaplan, Inc. (US)
- Planview, Inc. (US)
- Workday, Inc. (US)
- Adaptive Insights (US)
- OneStream Software LLC (US)
- SAS Institute Inc. (US)
- Board International
- Prophix Software Inc
Market Drivers
- The requirement for integrated planning procedures and the complexity of the corporate environment are the two main factors propelling the market for strategic planning software.
- Complexity, ambiguity, and quick changes characterise the contemporary corporate environment.
- For organisations to negotiate this complexity and make wise decisions, they need powerful strategic planning tools.
- Advanced features and functions offered by strategic planning software assist organisations in data analysis, scenario analysis, and strategic plan development.
- The integration of diverse planning processes inside an organisation is facilitated by strategic planning software
Market Opportunities
- For the purpose of improving their strategic planning procedures, organisations from all sectors are adopting digital transformation efforts.
- The use of strategic planning software allows for the optimisation of resource allocation while streamlining and automating planning processes.
- Strategic Planning Software can be adopted in a favourable context thanks to the rising desire for digital transformation.
- Organisations are increasingly recognising the importance of using data to drive strategic objectives, which is why data-driven decision-making is becoming more popular.
- Organisations are empowered to get insights, spot patterns, and make wise decisions via strategic planning software that enables data analysis, visualisation, and predictive modelling.
- A significant potential for software vendors in the market for strategic planning is the capacity to utilise data efficiently.
Market Restraints
- The market expansion of strategic planning software is being hampered by cost and budget restrictions, as well as issues with data quality and integration.
- Software licences, implementation expenses, training expenses, and continuing maintenance are frequently included in the cost of strategic planning software.
- Adoption may be hampered for smaller companies or those with tighter budgets by the price of purchasing and maintaining the software.
- The analytical and decision-making capabilities of strategic planning software depend on accurate and trustworthy data.
- Data quality assurance, integrating data from diverse sources, and maintaining data consistency throughout the planning process may provide issues for organisations.
- Data that is erroneous or incomplete might make the programme less effective.
Market Challenges
- Rapidly evolving technological landscape, requiring continuous updates and innovation.
- Resistance to change and adoption of new software solutions within organizations.
- Data security and privacy concerns, especially when dealing with sensitive strategic information.
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Strategic Planning Software Market Segmentation:
Market Breakdown by Applications:
- Cloud-Based
- On-Premise
Market Breakdown by Types:
- Large Enterprise
- Small and Medium Enterprise (SMEs)
Key Target Audience
- Analysts and Strategic Business Planners
- New Entrants and Investors
- IT Sector
- Government Bodies
- Other
Report Scope
| The Market size value in 2023 | USD 1.7 Billion |
| Revenue Forecast by 2033 | USD 3.6 Billion |
| Growth Rate | CAGR Of 18.1% |
| Regions Covered | Europe, Latin America, the Middle East, and Africa, as well as the rest of the world, comprise North America. |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Competitive Landscape:
Along with studying the profiles of the key players in the Strategic Planning Software market, the industry’s competitive environment is deeply examined. Some of the players profiled are Oracle Corporation, IBM Corporation, SAP SE, Microsoft Corporation, Planview, Inc., Anaplan, Inc., Adaptive Insights (a Workday company), Workday, Inc., OneStream Software LLC, Board International (Switzerland), SAS Institute Inc., Prophix Software Inc. (Canada)
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Key highlights of the report:
- Strategic Planning Software Market Performance (2018-2022)
- Strategic Planning Software Market Outlook (2023-2028)
- Strategic Planning Software Market Trends
- Strategic Planning Software Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Detailed competitive landscape
If it is not currently covered by the report, we will provide you with any specific information you want as part of the revision.
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