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The Business Process Management (BPM) Market size is estimated to grow at a CAGR of 10.1% between 2022 and 2027. The market size is forecast to increase by USD 8,910.27 million. The growth of the market depends on several factors, including increasing demand for process automation and digital transformation, demand for efficient workflow of business processes, and increasing adoption of cloud-based services. Business process management (BPM) is a practice in operations management that includes analyzing and modeling business processes to work in different scenarios, executing improvements, and monitoring and optimizing the improved processes continuously.
This business process management market report extensively covers market segmentation by deployment (on-premises and cloud-based), end-user (BFSI, government and defense, healthcare, IT and telecommunication, and retail), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 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 business process management market growth is the increasing demand for process automation and digital transformation. The emergence of automation has revolutionized the business process landscape with digitalization across enterprises. One of the main advantages of automation is that it eliminates the manual intervention in complex and repetitive business processes 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 automating business processes in order to meet evolving customer demands. Some of the key industries such as BFSI, retail, and manufacturing are implementing automation across their internal and external business processes including customers, partners, or suppliers and self-service applications. Hence, such developments are expected to positively impact the business process management (BPM) market. Thus, it is expected to drive the business process management market growth during the forecast period.
A key factor shaping the business process management 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 the business process landscape with the integration of smart devices such as mobiles, tablets, laptops, and other digital assets in business processes. 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 business process management market growth. There is increasing adoption of technologies including IoT and big data analytics across industries such as BFSI, healthcare, retail, and manufacturing in order 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 and processes.
Hence, such integration into business processes 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 business process management (BPM) market growth. Hence, such factors are expected to hinder the business process management 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 business process management 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 which 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 in business processes. Hence, such factors are expected positively impact the business process management (BPM) 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.
In 2020, during the COVID-19 pandemic, the growth of the global BPM solutions market witnessed a significant slowdown due to the temporary shutdown of operations across various sectors including BFSI in North America. This has resulted in a significant decline in demand for BPM solutions in the region. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in several industries and companies while adhering to strict guidelines. Such factors are expected to drive the market during the forecast period.
The business process management 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 Business Process Management 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 business process automation solution namely Appian Platform for process automation and process mining.
Bizagi Group Ltd: The company offers business process automation which boosts enterprise efficiency by analyzing, optimizing, and automating processes to gain visibility and transform operations.
CREATIO EMEA Ltd: The company offers business process automation including 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 business 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 business process management market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Business Process Management Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.1% |
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Market growth 2023-2027 |
USD 8,910.27 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.26 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 44% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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