Quick Summary:
In this rapidly digitalizing era, optimization, efficiency, and competitiveness are central to business success. Exploring the realm of Business Process Management (BPM) offers a promising avenue for improvement, with a plethora of potential benefits to unlock. Purchasing this report will provide comprehensive insights into the vibrant, progressive global BPM market and your potential place within it.
The BPM market is expanding swiftly, powered by rising technological advancements and an increasing appetite for higher productivity and robust business engagement. This crucial research report unpacks how BPM serves as a catalyst for enhancing business strategies and operations, paving the way for faster achievement of planned outcomes, and diverting resources to crucial strategic tasks. Acquiring this report equips businesses with penetrative insights, enabling them to stay ahead of the curve in their industry and capitalize on the efficiency, cost savings, and improved business outcomes facilitated by effective BPM implementation.
Business process management (BPM) helps in discovering, analyzing, enhancing, and optimizing business strategies and operations. It also aids in incorporating structure into business processes, removing process redundancies, and enhancing agility in operations. It enables companies to achieve their planned business outcomes at a faster rate and allocate additional resources to other crucial work. It enhances communication between teams and provides comprehensive transparency and accountability throughout various operations. BPM comprises continuous process reengineering, which enables organizations to streamline their overall workflows for increasing efficiency and cost savings. It also consists of advanced analytics, activity monitoring, and decision management facilities to manage employees, systems, information, and materials for optimizing various business outcomes. It is available as integration-centric, human-centric, and document-centric BPM, which assists businesses in assigning tasks to employees, streamlining approval and agreement processes with customers and vendors, and improving customer care services.
Business Process Management Market Trends:
At present, the increasing demand for BPM to enhance productivity and engagement and allow teams to focus on business innovations represents one of the primary factors influencing the market positively. Besides this, there is a rise in the employment of BPM in boosting operational transparency by replacing manual processes with modern automation across the globe. This, coupled with the growing utilization of BPM to eliminate manual errors from various repetitive tasks, is offering a favorable market outlook. In addition, the increasing demand for digitizing business processes to achieve business goals, improve customer satisfaction, increase productivity, and boost scalability is contributing to the market growth. Apart from this, the rising adoption of BPM to manage massive data sets utilized for monitoring employee behavior, collecting customer information, and analyzing the responses of their targeted customers to various services is supporting the market growth. Additionally, BPM allows large enterprises to modify business regulations by directly improving operations without making any changes in the infrastructure and information technology (IT) models, which is strengthening the market growth. Moreover, the increasing traction of cloud-based BPM solutions due to their minimal impact on internal resources, low monthly subscription expenses, decreased overhead investment, and enhanced security maintenance is propelling the market growth. Furthermore, key market players are developing BPM solutions integrated with artificial intelligence (AI) and the internet of things (IoT) to increase the efficiency of BPM tools, gather real-time data to address issues spontaneously, and gain a profound understanding of business operating models.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global business process management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on deployment type, component, business function, organization size and vertical.Deployment Type Insights:
- On-Premises
- Cloud
Component Insights:
- IT Solution
- Process Improvement
- Automation
- Content and Document Management
- Integration
- Monitoring and Optimization
- IT Service
- System Integration
- Consulting
- Training and Education
Business Function Insights:
- Human Resource
- Accounting and Finance
- Sales and Marketing
- Manufacturing
- Supply Chain Management
- Operation and Support
- Others
Organization Size Insights:
- SMEs
- Large Enterprises
Vertical Insights:
- Government & Defense
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Manufacturing
- Others
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global business process management market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Adobe Systems Inc., Appian Corporation, Fabasoft AG, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Pegasystems Inc., SAP SE, Software AG, TIBCO Software Inc., and Ultimus Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global business process management market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global business process management market?
- What are the key regional markets?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on business function?
- What is the breakup of the market based on organization size?
- What is the breakup of the market based on vertical?
- What is the competitive structure of the global business process management market?
- Who are the key players/companies in the global business process management market?
What is the estimated value of the Global Business Process Management Market?
What is the growth rate of the Global Business Process Management Market?
What is the forecasted size of the Global Business Process Management Market?
Who are the key companies in the Global Business Process Management Market?
Report Attribute | Details |
---|---|
No. of Pages | 145 |
Published | March 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 13.3 Billion |
Forecasted Market Value ( USD | $ 24.5 Billion |
Compound Annual Growth Rate | 10.7% |
Regions Covered | Global |
No. of Companies Mentioned | 13 |
Table of Contents
Companies Mentioned
- Adobe Systems Inc.
- Appian Corporation
- Fabasoft AG
- Hewlett-Packard
- IBM Corporation
- Microsoft Corporation
- OpenText Corporation
- Oracle Corporation
- Pegasystems Inc.
- SAP SE
- Software AG
- TIBCO Software
- Ultimus Inc.
Methodology
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