The global business process management market is projected to reach a value of USD 24,413.93 million by 2025, growing at a CAGR of 15.7%. The rising requirement of automate processes and attain business agility in numerous industries is anticipated to propel the adoption of the business process management platform. There is rising implementation of cloud-based business process management software and services among Small and Medium-sized Enterprises (SMEs), hence the target market is projected to attain significant market value in the given time frame.
Adroit Market Research report on the global business process management market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. Prominent players operating in the global business process management market have been studied in detail.
Business Process Management (BPM) is a discipline that includes a mixture of process modeling, automation, execution, control, measurement and optimization of the business process flows in the alignment of the enterprise goals, spanning systems, employees, customers and business partners. The rising incorporation of business process management (BPM) along with the IoT is a major driver factor contributing to the target industry. It permits businesses to record and examine large amounts of data to make proficient decisions. Moreover, the developing trend of automation in various industries is another key factor driving the global market growth.
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 process improvement, automation, content and document management, integration, monitoring, and optimization. Based on application, the business process management market is segmented into government & defense, BFSI, IT & telecom, healthcare, retail, manufacturing, and others.
North America attained largest market share in the global business process management market in 2018. The growth is accredited towards the well-established economies, which support investment in new technologies. North America is home to big industries that are capable of financing in reliable and advanced IT infrastructure for automating business processes, thus creating new opportunities for the business process management.
Major 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)
- Process Improvement
- Content and Document Management
- Monitoring and Optimization
Application Overview, 2015-2025 (USD Million)
- Government & Defense
- IT & Telecom
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa