In the historic year 2017, the global business process management market size was appreciated at USD 7,947 Million. It is projected to propel the market and reach up to USD 18 Billion by registering a CAGR of 14.7 % in terms of revenue in the coming future. The business process management market is projected to record the notable growth over the forecast period, recognized to augment for the enhanced process of automation and efficacy, the requirement of following the stringent policies and norms of government and the progress in return on the organization's investment.
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The main factors responsible for the growth of the global business process management market size are cost-effectiveness, improved organizational business coordination & responsiveness, control, investment returns and business dexterity from the software of business process management. Continuous improvements in the development of business are the factor responsible for the business process management market growth. The software of business process management is combining the technical & administrative skills of the organization thus allowing them to line up their goals as per the client's requirements. It offers the technical incorporation, flexibility, encourages business productivity and accomplishment by enhancing the operations of the business. The main advantage of the software is consolidating the distribution, analysis & creation in the optimization of business processes, central area and releasing time for application and time for improvement.
Business process management is the procedure of improving the procedure of business by monitoring the developed process, applying developments, at work in separate scenarios, modeling & designing its mechanism, continuously improving and analyzing it. BPM market is including the use of software like CRM, HR, and accounting. Business process management is a systemized approach used for assisting in workflow, examine, discover and improve the efficiency of any business. Business process management mechanizes the process of tracking and end-to-end manual. The main objective of business process management is to lessen the miscommunication and human inaccuracy during the optimization and maintenance of the core operations and organization’s equipment.
Lack of clarity on the basis of the value proposition, opposition from the IT staff and the misinterpretation regarding the BPM software are hindering the growth of the global business process management market. The global BPM market is getting competitive because of the occurrence of several vendors. To decrease the complication of IT processes, dealers have initiated in using the private and public cloud solutions. Dealers are providing several cooperative tools with the products of business process management to control the software and allow the interaction of customer.
Read More Details at : Global Business Process Management (BPM) Market 2017-2023
Global business process management market is segmented into industry vertical, deployment type, organization size, business department, IT service overview, IT solution overview and regions. On considering the industry vertical, the market is divided into manufacturing, retail, healthcare, IT & Telecom, BFSI, Defense & Government and more. Based on the deployment type, the market is divided into on-premise and cloud. On the basis of organization size, the market is divided into large enterprises and SMEs. By business department, the market is divided into operation & support, supply chain management, marketing & sales, finance & accounting, and human resource. On the basis of IT service overview, the market is divided into training & education, consulting and system integration. Based on IT solution, the market is divided into optimization and monitoring, integration, document and content management, automation and process improvement.
Geographically, regions involved in the global business process management market analysis are Europe, North America, Central America, South America, Asia Pacific and Middle East & Africa.
Key players involved in the business process management market analysis are Appian Corporation, Global 360, IBM Corporation, TIBCO Software, Pegasystems, BPLogix and more.
Key segments of the global BPM market
IT Solution Overview, 2012-2023 (USD million)
Process Improvement
Automation
Content & Document Management
Integration
Monitoring & Optimization
IT Service Overview, 2012-2023 (USD million)
System Integration
Consulting
Training & Education
Business Function/ Department Overview, 2012-2023 (USD million)
Human Resource
Accounting & Finance
Sales & Marketing
Manufacturing
Supply Chain Management
Operation & Support
Others
Organization Size Overview, 2012-2023 (USD million)
SMEs
Large Enterprises
Deployment Type Overview, 2012-2023 (USD million)
Cloud
On-Premise
End-Use Industry Overview, 2012-2023 (USD million)
Government & Defense
BFSI
IT & Telecom
Healthcare
Retail
Manufacturing
Others
Regional Overview, 2012-2023 (USD million)
North America
US
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Russia
Asia Pacific
China
Japan
India
Australia
South America
Brazil
Argentina
Middle East & Africa
South Africa
What does the report include?
• The study on the global BPM market includes qualitative factors such as drivers, restraints, and opportunities
• Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of product, type, and distribution channel. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
• BPM solution providers
• Enterprises and end-users including governmental organizations, defense, BFSI, IT & telecom, healthcare and others
• Decision makers across several consulting and advisory firms, system integrators, resellers, training and education service providers, maintenance and support service providers, etc.
• Analysts, educators, strategy managers, researchers, and academic institutions looking for insights into the market to determine future strategies
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