As per this study the Global Business Process Management Market was valued USD 6.78 BN (by revenue) in 2022 and is anticipated to reach USD 16.2 BN by 2030 with a CAGR of 11.5%.
Business process management (BPM) is an end-to-end business solution that involves various methods to discover, manage, analyze, improve and automate business process. The primary motive of BPM is to improve business performance. It is used to increase efficiency of the existing or newly formed business.
Market Dynamics
The market is witnessing fast paced growth owing to rising automation activities in business to increase revenue and outcome. Rise in business organization has generated demand for proper business process management. Also, growing need of cost efficiency, better risk management leading to high productivity is fueling the market growth. Increasing demand for appropriate BPM in BFSI, IT, telecom, manufacturing and others is further boosting the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of business process management.
Market Segmentation
The broad business process management market has been sub-grouped into solution, service, department, deployment and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Component
By Business Function
- Human Resource Management (HRM)
- Procurement and Supply Chain Management (SCM)
- Sales and Marketing
- Accounting and Finance
- Customer Service Support
- Others (Operations Management, Legal, and R&D)
By Industry
- BFSI
- IT
- Telecommunication
- Retall and Consumer Goods
- Healthcare and Life Sciences
- Others (Transportation and Logistics, Government, and Media and Entertainment)
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for business process management in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Business Process Management Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the business process management market include Pegasystems (US), Appian (US), IBM (US), Oracle (US), Software AG (Germany) Nintex (US), OpenText (Canada), Newgen Software (India), Genpect (US), TIBCO (US), Bizagi (UK), ProcessMaker (US), Creatio (US). AgilePoint (US), BP Logix (US), K2 (US), Bonitasoft (France), Kissflow (India), Kofax (US), and AuraPortal (US). An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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