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EPM Application Market 2023 Forecast

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A former Mitchell & Co. Outstanding CEO honoree, John Klein serves as chairman of Cambridge Therapeutics, which he founded in 2011 to deliver combination drug therapies. Concurrently, John Klein is the chairman and CEO of the Alpine, NJ-based Bilogix, LLC, through which he provides enterprise performance management (EPM) solutions to business clients to better inform their decision-making processes and improve operational performance.

According to Technavio, the EPM application market is expected to grow by more than $2 billion by 2023, which equates to a compound annual growth rate of nearly 9 percent. Technavio has been monitoring the global market since 2015 and presented its findings in its recent 132-page market analysis report.

The report states that market growth will be driven by demand for cloud-based EPM solutions in addition to companies seeking to satisfy changing regulations. Given the volume and sensitive nature of data transferred across various industries, government bodies are increasingly approving new regulations concerning data collection, storage, and utilization.

Banking, financial services, and insurance companies are expected to generate the most revenue for EPM providers, while telecom and IT ranks second. Growth is also expected in manufacturing and healthcare. Moreover, the report projects the Asia-Pacific region as having the brightest outlook for the EPM market.

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