Reports Description
According to Custom Market Insights (CMI), The Global Business Process Management Market size was estimated at USD (10.90B) in 2021 and is expected to hit around USD (27.15B) by 2030, poised to grow at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030.
Our recently published report, “Business Process Management Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.
Business Process Management Market: Overview
A collection of procedures used to raise an organization’s general performance is referred to as BPM. Typically, these solutions coordinate operational duties with organizational objectives while managing and optimizing process modeling, automation, control, and execution of the business flow. Additionally, they keep an eye on how operations, marketing, human resources, and customer relationship management are all performing. Consequently, the manager may effectively accomplish complicated organizational goals, take charge of chaotic processes, and keep a close eye on each employee’s progress through the workflow. Moreover, to re-engineer administrative procedures in both big and Small and Medium-sized Enterprises (SMEs), it is crucial to identify and prioritize the strategies. Finally, BPM solutions in the service sector maintain the entire process linked and user-friendly, which raises the standard of the service offered to end customers.
Business Process Management Market: COVID–19 Impact Analysis
Global economies have been significantly impacted by the COVID-19 pandemic. For several industries, COVID-19 has created some difficulties. Businesses continue to use digital technologies as the world’s macroeconomic condition drastically changes to keep up with market developments. The significance of business process management as a significant driver for digital transformation is growing in light of the present technology disruptions and their roles in facilitating business processes and defining innovative business models. Businesses and enterprises view business process management (BPM) solutions as essential drivers of digital growth; as a result, the market is anticipated to expand strongly in the challenging COVID-19 environment. Less manual labor and more automated working methods are two advantages of the growing trend toward BPM platforms, which improves the efficacy and efficiency of company operations and customer care services. As BPM providers deal with larger and more complicated projects, service providers must create business value. Consequently, during the pandemic, the market is anticipated to experience an increase.
Business Process Management Market: Growth Drivers
Increasing attention to business process digitization to support BPM market expansion
BPM is widely used to accomplish desired corporate objectives and optimize processes. Industries are concentrating on automating business operations to boost productivity while minimizing time limitations. The BPM industry is growing thanks to enterprises’ mature approaches to digitalization that aim to promote productivity, adaptability, and customer happiness. Business process automation also makes it possible to create individualized systems and reduce human mistakes. Some BPM systems let end users alter business rules immediately, immediately improving processes without modifying business infrastructure or IT models. Power users are restricted to a library of pre-approved and pre-tested practices to do this. As new possibilities for process optimization emerge, it is straightforward to update the baseline process model to include improved features or functionality. Consequently, the market is anticipated to benefit from increased corporate management tactics.
The Internet of Things and BPM is becoming more and more integrated (IoT)
One of the main drivers propelling the market’s growth is the growing integration of BPM with the Internet of Things (IoT). Business organizations can collect and analyze massive volumes of data with IoT-enabled BPM systems, which helps them make intelligent choices. Another element boosting market expansion is the growing trend of automation across sectors. BPM solutions that automate and centralize business processes are rapidly being used by organizations as they place a greater emphasis on increased productivity, cost-efficiency, data protection, and risk management. The advent of contemporary cloud-based BPM software and solutions is one example of the numerous technical developments promoting industry expansion.
Business Process Management Market: Segmentation Analysis
The business process management market is segmented into components, deployment types, and organization sizes. Based on this part, the demand for the solution/platform segment is estimated to lead the market during the forecast period. The BPM platform automates the processes that require prior human interaction, freeing up staff members to focus on their core competencies. This results in the best possible use of resources, defined as a set of strategies and organizational frameworks that balance the requirement to achieve desired business goals with the availability of resources. Additionally, BPM software provides expert software for efficiently designing corporate rules following the demands of the business project.
By deployment type, the cloud-based segment is anticipated to dominate the market during the forecast period. The market is expected to increase due to the minimal influence that cloud-based BPM solutions have on internal resources and other favorable characteristics, including inexpensive monthly subscription fees, lower overhead expenditure, and many more.
Organizations occasionally carry out their testing and development processes on the public cloud. However, businesses are frequently more likely to implement BPM software on-premises due to security concerns. Because of this, companies are predicted to embrace the on-premise process management paradigm modestly.
By organization size, the SME segment is anticipated to dominate the market during the forecast period. SMEs use BPM services to redesign the business process as their companies grow. Small and medium-sized businesses may use these techniques more readily than big corporations. It is predicted that the maturing approach taken by small and medium-sized businesses to automate business processes and increase efficiency would accelerate using BPM solutions. In addition, the rising requirement for flexibility in emergency situations and faster reaction times encourages SMEs to use process management technologies.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD (10.90B) |
| Projected Market Size in 2030 | USD (27.15B) |
| Market Size in 2022 | USD (2022Value) Billion/Million |
| CAGR Growth Rate | 10.2% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Newgen Software, AuraPortal, Bonitasoft, Oracle, ProcessMaker, Kofax, IBM, Infosys Ltd., Quick Base, Creation, OpenText, Software AG, Appian, BP Logix, and Others |
| Key Segment | By Component, Deployment Type, Organization Size, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- Based on component segmentation, the solution/platform segment is estimated to hold the largest market share during the forecast period.
- Based on deployment segmentation, the cloud-based deployment segment is the leading revenue-generating category during the forecast period.
- Based on organization size segmentation, the SMEs segment is the leading revenue-generating category during the forecast period.
- Based on geography/region, the Asia-Pacific region is expected to lead the market.
Recent Development
- January 2020: The global leader in Al-enhanced process mining and process excellence software, Celonis and Appian have partnered in technology. To speed up clients’ journeys toward digital transformation, the cooperation between Appian and Celonis will combine the minimal code automation platform of Appian with the process mining technology of Celonis.
- January 2020: Nintex inked a contract with Auswide Bank to quicken its business transformation process. Through the use of the Nintex Process Platform’s process management, automation, and mapping features, Auswide Bank has improved its business processes.
Regional Landscape
Throughout the projection period, Asia-Pacific is expected to continue to be among the most alluring markets, and this region is accounted for the majority revenue share in the market. The demand for business process management globally will remain dominated by Asia Pacific. The Asia Pacific region is estimated to see the most significant CAGR growth throughout the forecast period due to increased demand for BPM software services. A corporation may improve its business processes using BPM software to keep up with changing market trends. The Asia Pacific area is anticipated to see tremendous development potential throughout the expected timeframe. China and Japan were, without a doubt, the market’s top competitors for business process management.
Competitive Landscape
Our report offers quantitative and qualitative insights into the WebRTC market and significant development initiatives the key players adopt. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.
Prominent Players:
- Newgen Software
- AuraPortal
- Bonitasoft
- Oracle
- ProcessMaker
- Kofax
- IBM
- Infosys Ltd.
- Quick Base
- Creation
- OpenText
- Software AG
- Appian
- BP Logix
The global Business process management market is segmented as follows:
By Component
- Solution/Platform
- Services
By Deployment Type
- On-Premise
- Cloud
By Organization Size
- SMEs
- Large
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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