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The global business process management market was valued at USD USD 9,100.00 million in 2018. Increasing demand for process automation is a key driving factor boosting the market growth. The business process management software helps organizations to follow the guidelines, rules, and standards such as filing financial reports, regulatory compliances, labor laws, etc. that are established by the government. The need for the software is to identify the practice precisely and to keep the same practice standards across all the units.
The factors contributing to the global business process management market include advancing organizational approachability & business synchronization and control, cost-effectiveness, business agility and venture returns from the business process management software. Continuous developments in business growth are one of the key growth factors of the business process management market. The more transitory driver can be a merger and an acquisition. The software associates organizational & technical skills of a business thus allowing them to support their purposes with the necessities of the clients. It offers suppleness & technical incorporation and encourages business productivity and accomplishment by enhancing business operations. The foremost advantages of the software are unifying the process formation, analysis & distribution in one central area, augmenting business processes, freeing up time for implementation and additional time to improve.
Factors such as misconception about the business process management among the operators, resistance to accepting from the IT workforce and the lack of clarity in terms of the value proposition as an IT solution are hindering the global market growth.
One of the significant trends is that supports the target industry growths are the growing integration of automation and the Internet of Things, with business process management. Currently, the business process management has received a considerable response, owing to its potential to ominously increase productivity and cut down expenses. Recent advanced BPM systems are plentifully available, by various organizations. As per the Capgemini, nearly 68% of companies showed that BPM is vital at the managerial level, and about 56% of companies predicted that they will upsurge their spendings in efficacy, in the coming years.
The global business process management market has been segmented based on type, application, and region. Based on type, the global business process management market is categorized into automation, content & document management, process improvement, integration, monitoring, and optimization. Based on the application, the business process management market is segmented into BFSI, government & defense, healthcare, IT & telecom, manufacturing, retail, and others. Geographically, North America dominated the global business process management market in 2018, however, Asia Pacific is expected to be the fastest-growing region by 2025.
Key players operating in the global business process management market include Pegasystems, Appian, IBM, Oracle, Software AG, Nintex, OpenText, Newgen Software, Genpact, TIBCO, Bizagi, ProcessMaker, Creatio, AgilePoint, BP Logix, K2, Bonitasoft, Kissflow, Kofax, and AuraPortal among others.
Key Segments of the Global Business Process Management Market
Type Overview, 2015-2025 (USD Million)
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
Reasons for the study
What does the report include?
Who should buy this report?
As the demand for BPM is directly associated with the demand for process automation in various industries, the greater the demand for process automation across the world, the greater is the demand for BMP solutions. Organizations are progressively concentrating on greater efficiency, cost-efficiency, data safety, and threat management, which is ensuing in the extensive acceptance of business process management solutions that automate and unify business processes. Moreover, numerous technological developments, such as the introduction of modern cloud-based business process management software and solutions, are also propelling the target market growth. Cloud business process management provides the solutions through the platform-as-a-service model and allows companies to make workflows easier on a server without using an in-house storage device. Another factor including rapid urbanization, widespread research and development (R&D) activities and flourishing industrial verticals, such as information technology (IT), financial services, defense, and banking, and insurance (BFSI), are expected to drive the market in the upcoming years.
The global business process management market has been segmented based on type, application, and region. Based on type, the global business process management market is categorized into automation, content & document management, process improvement, integration, monitoring, and optimization. Business process automation allow organization by handling the whole business activities competently, decreasing human error and making it flexible to environmental change. It aids the human resource department by substituting outdated paper-driven documents to automated onboarding activities.
Based on the application, the business process management market is segmented into BFSI, government & defense, healthcare, IT & telecom, manufacturing, retail, and others. The BFSI sector is expected to attain the largest market share value in the global business process management market. BPM enables the banking and finance sector to serve their customers quicker and more efficiently while also driving the end-to-end process and being intelligent. BFSI has accepted the service to advance the business process mechanization which helps them in more new customers and old customer retention.
The global business process management market is cumulative to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global business process management market in 2018, however, Asia Pacific is expected to grow at a rapid pace through 2025.
Asia Pacific is anticipated to rise at the highest CAGR over the forecast period, owing to the upsurge in the demand for business process management software and services. The region is projected to experience wide growth opportunities in the given time frame. In the meantime, North America is expected to attain the largest market share in the given time frame. The accessibility of suitable infrastructure, the existence of several global financial institutions, and augmented implementation of IoT devices and internet users, are likely to push the growth of the North American. Furthermore, in the United States, where workforces are more than 100 in number, are implementing cloud-based applications. It has been assessed that approximately 35% of small and medium enterprises in the country have now installed cloud solutions.
The global business process management market was valued at USD USD 9,100.00 million in 2018. Increasing demand for process automation is a key driving factor boosting the market growth. The business process management software helps organizations to follow the guidelines, rules, and standards such as filing financial reports, regulatory compliances, labor laws, etc. that are established by the government. The need for the software is to identify the practice precisely and to keep the same practice standards across all the units.
The factors contributing to the global business process management market include advancing organizational approachability & business synchronization and control, cost-effectiveness, business agility and venture returns from the business process management software. Continuous developments in business growth are one of the key growth factors of the business process management market. The more transitory driver can be a merger and an acquisition. The software associates organizational & technical skills of a business thus allowing them to support their purposes with the necessities of the clients. It offers suppleness & technical incorporation and encourages business productivity and accomplishment by enhancing business operations. The foremost advantages of the software are unifying the process formation, analysis & distribution in one central area, augmenting business processes, freeing up time for implementation and additional time to improve.
Factors such as misconception about the business process management among the operators, resistance to accepting from the IT workforce and the lack of clarity in terms of the value proposition as an IT solution are hindering the global market growth.
One of the significant trends is that supports the target industry growths are the growing integration of automation and the Internet of Things, with business process management. Currently, the business process management has received a considerable response, owing to its potential to ominously increase productivity and cut down expenses. Recent advanced BPM systems are plentifully available, by various organizations. As per the Capgemini, nearly 68% of companies showed that BPM is vital at the managerial level, and about 56% of companies predicted that they will upsurge their spendings in efficacy, in the coming years.
The global business process management market has been segmented based on type, application, and region. Based on type, the global business process management market is categorized into automation, content & document management, process improvement, integration, monitoring, and optimization. Based on the application, the business process management market is segmented into BFSI, government & defense, healthcare, IT & telecom, manufacturing, retail, and others. Geographically, North America dominated the global business process management market in 2018, however, Asia Pacific is expected to be the fastest-growing region by 2025.
Key players operating in the global business process management market include Pegasystems, Appian, IBM, Oracle, Software AG, Nintex, OpenText, Newgen Software, Genpact, TIBCO, Bizagi, ProcessMaker, Creatio, AgilePoint, BP Logix, K2, Bonitasoft, Kissflow, Kofax, and AuraPortal among others.
Key Segments of the Global Business Process Management Market
Type Overview, 2015-2025 (USD Million)
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
Reasons for the study
What does the report include?
Who should buy this report?
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
4. Business Process Management Market by Type, 2015-2025 (USD Million)
4.1. Process Improvement
4.2. Automation
4.3. Content and Document Management
4.4. Integration
4.5. Monitoring and Optimization
5. Business Process Management Market by Application, 2015-2025 (USD Million)
5.1. Government & Defense
5.2. BFSI
5.3. IT & Telecom
5.4. Healthcare
5.5. Retail
5.6. Manufacturing
5.7. Others
6. Business Process Management Market by Region 2015-2025 (USD Million)
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. France
6.2.4. Rest of Europe
6.3. Asia Pacific
6.3.1. China
6.3.2. Japan
6.3.3. India
6.3.4. Rest of APAC
6.4. Latin America
6.4.1. Brazil
6.4.2. Mexico
6.4.3. Rest of Latin America
6.5. Middle East & Africa
7. Competitive Landscape
7.1. Company Ranking
7.2. Market Share Analysis
7.3. Strategic Initiatives
7.3.1. Mergers & Acquisitions
7.3.2. New Product Launch
7.3.3. Investments
7.3.4. Expansion
7.3.5. Others
8. Company Profiles
8.1. Pegasystems
8.1.1. Overview
8.1.2. Products Portfolio
8.1.3. Recent Initiatives
8.1.4. Company Financials
8.2. Appian
8.3. IBM
8.4. Oracle
8.5. Software AG
8.6. Nintex
8.7. OpenText
8.8. Newgen Software
8.9. Genpact
8.10. TIBCO
8.11. Bizagi
8.12. ProcessMaker
8.13. Creatio
8.14. AgilePoint
8.15. BP Logix
8.16. K2
8.17. Bonitasoft
8.18. Kissflow
8.19. Kofax
8.20. AuraPortal
9. Appendix
9.1. Primary Research Approach
9.1.1. Primary Interview Participants
9.1.2. Primary Interview Summary
9.2. Questionnaire
9.3. Related Reports
9.3.1. Published
9.3.2. Upcoming