Global Business Process Management Market, By Component (Platform, Services, Solution/ Tool/ Platform), Deployment (Cloud based, On premise), Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, Others), Industry (Banking, Financial Service and Insurance (BFSI), IT, Telecommunication, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Others), End user (Small and Medium-Sized Enterprises (SMEs), Large Enterprise) – Industry Trends and Forecast to 2030.
Business Process Management Market Analysis and Size
Business process management (BPM) is frequently used to achieve desired business objectives and streamline processes. Businesses are working hard to automate processes to increase productivity while reducing time pressures. Additionally, business process automation enables the development of personalized systems and eradicates human error. Business process management examines a business process, models how it functions in various scenarios, implements changes, keeps track of the new strategy, and constantly enhances its capacity to deliver desired business outcomes and results. Some use cases that have been identified as enterprise selection criteria include digital business optimization and transformation, self-service intelligent business process automation, and adaptive case management.
Data Bridge Market Research analyses that the business process management market, valued at USD 13.3 billion in 2022, will reach USD 36.15 billion by 2030, growing at a CAGR of 13.31% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Business Process Management Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Platform, Services, Solution/ Tool/ Platform), Deployment (Cloud based, On premise), Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, Others), Industry (Banking, Financial Service and Insurance (BFSI), IT, Telecommunication, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Others), End user (Small and Medium-Sized Enterprises (SMEs), Large Enterprise)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Oracle (U.S.), IBM (U.S.), Appian (U.S.), Software AG (Germany), Nintex UK Ltd (U.S.), WEBCON (U.S.), Open Text Corporation (Canada), Genpact (U.S.), Newgen Software Technologies Limited (India), Cloud Software Group, Inc. (U.S.), Bizagi (U.S.), Creatio (U.S.), ProcessMaker (U.S.), AgilePoint (U.S.), BP Logix, Inc. (U.S.), Kissflow Inc. (U.S.), Bonitasoft, S.A (France), Kofax Inc. (U.S.), AURA DIFUSION S.L. (U.S.), Capgemini (France)
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Market Opportunities
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Market Definition
The operation management discipline "business process management" (BPN) helps increase corporate performance by maintaining, managing, and optimizing a company's business processes. The main goal of business process management processes is to examine business operations and identify potential areas for improvement so that management and businesses can take action to improve them and make them more dependable and efficient. The procedure helps operations become more efficient and flexible in response to changing circumstances in this way.
Global Business Process Management Market Dynamics
Drivers
- The growing need for improved business agility boosts the market growth
The change is crucial to be prepared and quick to act to maintain business stability. Adopting business process management solutions also involves being agile. When a problem is identified, businesses can halt operations to look into business process management solutions. The procedure is restarted after their assistance analyzing how the issue has affected it. Additionally, incorporating artificial intelligence (AI) and machine learning (ML) technologies will benefit market participants in business process management, further propelling market growth.
- The growing adoption of management solutions has driven the market growth.
Small and medium-sized enterprises (SMEs) and large enterprises increasingly adopt this management solution to identify and prioritize the processes to re-engineer organizational processes. The business process management market is expanding quickly through several factors, including the ability of business process management software to centralize geographically dispersed resources and increase an organization's operational efficiency, the low-cost integration of artificial intelligence (AI) and machine learning (ML) technologies with the business process management software, and the shift from linear to holistic management and control, thus the use of business process management solutions in the service sector keep the entire process user-friendly and connected to improve The market for business process management is being driven by the quality of the service offered to end users.
Opportunities
- Growing demand for the digitization of business processes market
Successful managers of digital technology have also considered diversifying their sources of income. To remain competitive in the market, businesses must implement an effective management strategy that fosters new product innovation, increases competition, and improves processes. Well-established organizational digitalization strategies that aim to increase output, adaptability, and customer satisfaction support the business process management sector. Additionally, users of serval business process management solutions can alter the organization's IT and business infrastructure. Therefore, switching to a digital system is essential, especially given the growing dominance of technology and process automation, contributing to the market's expansion.
- Growing demand for cross-functional collaboration creates lucrative opportunities to grow.
The growing demand for cross-functional cooperation and integration among all business functions, including marketing and sales, manufacturing, supply chain management, human resource management, accounting, and finance, impacts the market for business process management. Improved communication between various business functions within the organization, automated IT systems that help meet changing customer needs, and optimized resource utilization through automated business processes positively impact the business process management market.
Restraints/Challenges
- Security issues restrict the market.
Security concerns and the ongoing increase in cyberattacks are anticipated to limit the market growth. The market for business process management will probably encounter challenges because of concerns about selecting the best processes to automate and a rising cultural barrier to adopting cutting-edge solutions over traditional systems, which restricts market growth.
- Funds lost due to poor management limits growth.
Business process management solutions are reasonably priced but not cheap, and businesses occasionally have to spend a lot to implement them fully. Revenue generation is aided by business process management implementation across various processes, which is advantageous for return on investment. But poor execution can drive up costs and potentially cause the company to lose money. In addition, improper application of business process management methodologies may result in further resource loss. Poor analyses result from most poorly managed business process management forwarding these issues throughout the workflow.
- Limited enterprise awareness impedes the expansion of the market.
The requirements and benefits of the system are unknown to many people in the industry vertical because they cannot fully comprehend the precise concept of process management. To use marketing and advertising to inform customers of the price and value of the business process management system. In a published article, Kiss Flow, Inc. discussed the advantages of a process management system and mentioned how some industries resist process management, limiting expansion.
This business process management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business process management market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2022, with the introduction of TIBCO ModelOps, businesses can now deploy AI models more quickly, reliably, and at scale. Customers can now manage their cloud-based analytic model administration, deployment, monitoring, and governance more easily and at scale in favour to the new addition to the company's game-changing analytics offering.
- In 2022, in its commitment to accelerated digital transformation and a long-term digital foundation in the United States, Comindware Inc. recently announced a significant milestone. Comindware has confirmed that it has started a world-class lab to promote the application of low-code, business process management, and related technologies in new corporate solutions and to equip businesses with dependable technology on their path to a sustainable digital future. This is in reference to plans made last year to establish an innovation lab.
- In 2022, Pegasystems introduced Pega Infinity, a platform that aims to provide better low-code options, as version 8.7 of its Pega Infinity software suite. Low-code, automation, artificial intelligence (AI), and updates to cloud architecture are all included. Pega's core software suite has recently undergone intelligent, low-code updates that help businesses innovate more quickly and enhance employee and customer experiences.
Global Business Process Management Market Scope
The business process management market is segmented on the basis of component, deployment, function, industry and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Platform
- Services
- System Integration
- Consulting
- Training and Education
- Solution/ Tool/ Platform
- Process Automation
- Process Modelling/ improvement
- Content and Development Management
- Case Management
- Monitoring and optimization
- Application Integration
- Others
- Optimization management
Deployment
- Cloud based
- On premise
Function
- Human Resource Management (HRM)
- Procurement and Supply Chain Management (SCM)
- Sales and Marketing
- Accounting and Finance
- Customer Service Support
- Others
- Operations Management and support
- Legal
- Research and development
Industry
- Banking, Financial Service and Insurance (BFSI)
- IT
- Telecommunication
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Manufacturing
- Others
- Transportation and logistics
- Government and Defense
- Media and Entertainment
- Energy
- Education
End user
- Small and medium-sized enterprises (SMEs)
- Large Enterprise
Business Process Management Market Regional Analysis/Insights
The business process management market is analysed and market size insights and trends are provided by country, component, deployment, function, industry and end user as referenced above.
The countries covered in the business process management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the business process management market as a result of regional mergers and acquisitions, adoption of cloud-based applications and collaborations, and ongoing regulatory changes in the healthcare sector.
Asia-Pacific is expected to witness the highest CAGR during the forecast period of 2021 to 2028 because of the increase in demand for business process management software and services and changing business trends in the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Business Process Management Market Share Analysis
The business process management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to business process management market.
Some of the major players operating in the business process management market are:
- Oracle (U.S.)
- IBM (U.S.)
- Appian (U.S.)
- Software AG (Germany)
- Nintex UK Ltd (U.S.)
- WEBCON (U.S.)
- Open Text Corporation (Canada)
- Genpact (U.S.)
- Newgen Software Technologies Limited (India)
- Cloud Software Group, Inc. (U.S.)
- Bizagi (U.S.)
- Creatio (U.S.)
- ProcessMaker (U.S.)
- AgilePoint (U.S.)
- BP Logix, Inc. (U.S.)
- Kissflow Inc. (U.S.)
- Bonitasoft, S.A (France)
- Kofax Inc. (U.S.)
- AURA DIFUSION S.L. (U.S.)
- Capgemini (France)
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