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The Business Process Management (BPM) Market size is estimated to grow by USD 8,910.27 million at a CAGR of 10.1% between 2022 and 2027. The growth of the market depends on several factors, including increasing demand for automation and digital transformation, demand for efficient workflow of businesses, and increasing adoption of cloud-based services. BPM is a practice in operations management that includes analyzing and modeling them to work in different scenarios, executing improvements, and monitoring and optimizing the improved continuously.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the market growth is the increasing demand for process automation and digital transformation. The emergence of automation has revolutionized this landscape with digitalization across enterprises. One of the main advantages of automation is that it eliminates the manual intervention in complex and repetitive cycles which in turn accelerates business workflow and thereby increases efficiency.
Moreover, there is increasing adoption of technologies such as BPM, RPA, and AI across enterprises due to the rising need for automation to meet evolving customer demands. Some of the key industries such as BFSI, retail, and manufacturing are implementing automation across their internal and external stakeholders including customers, partners, or suppliers and self-service applications. Hence, such developments are expected to positively impact the market. Thus, it is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the emergence of mobile BPM solutions. Several technological advancements have facilitated the increasing adoption of connected devices for real-time data sharing needs to make fast and reliable business decisions. This has led to the growing shift in business models toward implementing digital technologies and catering to consumers globally which, in turn, has fuelled the need for executing business tasks from anywhere and at any time.
As a result, this has significantly changed this landscape with the integration of smart devices such as mobiles, tablets, laptops, and other digital assets. Hence, the rising integration of smart devices has fuelled the adoption of mobile BPM systems that enable employees with the ability to work from anywhere to stay connected to corporate data in real-time. Thus, such factors are expected to drive market growth during the forecast period.
Data security and privacy issues are one of the key challenges hindering the market growth. There is increasing adoption of technologies including IoT and big data analytics across industries such as BFSI, healthcare, retail, and manufacturing to increase productivity and reduce operational complexities. Additionally, there is a rising deployment of a high number of digital sensors across enterprises in their production and manufacturing facilities.
Hence, such integration has led to the generation of large volumes of data which includes sensitive business data, such as client information, asset value, and production equipment monitoring data. These sensitive data are highly prone to cyber security threats and data leakage. These concerns can negatively impact the BPM market growth. Hence, such factors are expected to hinder the market growth during the forecast period.
The on-premise segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of the on-premise segment across large enterprises. Hence, several enterprises which have a global presence are expected to fuel the growth of this segment. One of the main reasons for the increasing demand for on-premises BPM solutions is that it enables control and ownership over their operations and processes, as well as the data generated and stored within the business applications.
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The on-premise segment was the largest segment and was valued at USD 6,133.83 million in 2017. Some of the main benefits of the on-premise segment include control and security. The on-premise segment offers enterprises control over their IT infrastructure, access to data, and a better understanding of their data security. In terms of security, the on-premises deployment of BPM solutions enables data to be stored in private data centers, which ensures that sensitive business data is safe and secure. Additionally, the on-premise deployment of solutions has a one-time initial cost followed by a monthly fee for managed services. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The growing need for efficiency and automation in the BFSI segment is increasing the market growth. One of the major industries with high adoption of BPM solutions is the BFSI sector. This segment deals with large volumes of sensitive customer data, such as account and transaction details. There is an increasing demand for superior banking experiences among customers due to the advancement in technology. As a result, in order to meet the evolving customer demands, there is an increasing development of applications that provide advanced banking services, such as mobile banking and wallets, to their customers. This technological advancement has resulted in the storage and transfer of large volumes of data over the virtual network. Hence, such developments are expected to increase the demand for BPM solutions during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the key factors that are significantly driving the growth of the global BPM solution market in North America are the increase in the adoption of cloud computing services and the presence of several prominent companies in the region, such as IBM, Oracle, Appian, TIBCO Software, and Pega Systems.
Additionally, some of the key industries in the region such as telecommunication, manufacturing, healthcare, and retail are generating huge volumes of sensitive data which in turn fuel the need to integrate BPM solutions as well as advanced technologies such as analytics, to optimize the decision-making process while enhancing efficiency. Hence, such factors are expected to positively impact the market growth in the region. Thus, the above-mentioned factors are expected to drive the BPM solutions market growth in the region during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Appian Corp: The company offers a solution namely Appian Platform for process automation and process mining.
Bizagi Group Ltd: The company offers which boosts enterprise efficiency by analyzing, optimizing, and automating processes to gain visibility and transform operations.
CREATIO EMEA Ltd: The company offers process modeling, execution, monitoring, and analysis.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The market revolves around software systems designed to improve operational business processes. These systems streamline process designs, enhance collaboration functionalities, and facilitate content and file sharing. They also optimize internal communication and personnel management while addressing issue management. With the rise of low-code app development, BPM solutions are transitioning to cloud-enabled platforms with artificial intelligence (AI) capabilities, automating workflows and adapting to changing business needs. Low-code tools are empowering organizations to develop solutions faster, leading to digital business optimization and transformation.
Key players in the BPM market offer strategic collaborations and solutions for master data management, catering to the needs of various industries, including the BFSI industry. These solutions, often offered as Software-as-a-Service (SaaS) with consumption-based pricing plans, are crucial for managing supply networks and supporting work-from-home mandates. Innovations like adaptive case management and self-service intelligent business process automation are reshaping how knowledge workers operate. The Temenos open platform exemplifies the shift towards simplifying products and operations, particularly in risk management capabilities, to meet the demands of digital-first customers. Addressing process bottlenecks and enabling straight-through cases are key focus areas for BPM providers, ensuring a smooth onboarding process for new technologies and empowering organizations to thrive in the digital age.
Business Process Management Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.1% |
Market growth 2023-2027 |
USD 8,910.27 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.26 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Appian Corp., Bizagi Group Ltd., BONITASOFT SA, Compulink Management Center Inc., CREATION EMEA Ltd., DXC Technology Co., FlowForma, Genpact Ltd., International Business Machines Corp., Kissflow Inc., Microsoft Corp., Newgen Software Technologies Ltd., Nintex Global Ltd., Open Text Corp., Oracle Corp., Pegasystems Inc., Salesforce Inc., Software AG, Thoma Bravo LP, and Vista Equity Partners Management LLC |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
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