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The business process management (BPM) market size is projected to increase by USD 10.64 billion, at a CAGR of 10.87% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for process automation, cloud-based services, and digital transformation in various industries. Companies are recognizing the need to streamline their operations and improve efficiency, leading to increased adoption of BPM solutions. Another trend in the market is the emergence of mobile BPM solutions, which enable users to manage business processes from anywhere, at any time. However, data security and privacy concerns remain a challenge in the BPM market, as organizations must ensure that sensitive information is protected while being processed and shared. Additionally, the integration of artificial intelligence and machine learning technologies into BPM platforms is expected to further drive market growth by providing advanced analytics and automation capabilities. Overall, the BPM market is poised for continued growth as businesses seek to optimize their operations and stay competitive in a digital world.
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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.
CREATIO EMEA Ltd: The company offers BPO Services such as process modeling, execution, monitoring, and analysis.
Market analysis and report of 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 market growth analysis research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The on-premises 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. The market is driven by large enterprises with global presence, particularly in telecommunications, to streamline operations and maintain control over their IT infrastructure. On-premises Business Process Management deployment offers organizations better data security and access, mitigating the threat of substitutes.
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The on-premises segment accounted for USD 6.48 billion in 2018. One of the main reasons for the increasing demand for on-premises Business Process Management (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. 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 Business Process Management 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.
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North America is estimated to contribute 39% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The markets in North America are experiencing growth due to the increasing adoption of automation solutions. Organizations are automating manual tasks to enhance operational efficiency and effectiveness, particularly in industries such as telecommunication, manufacturing, healthcare, and retail. Business Process Management platform and software enable agility and flexibility in business functions, allowing for real-time analysis of data and customer experience optimization. Emerging technologies like Blockchain, Machine Learning, and Robotic Process Automation are integral components of Business Process Management solutions. Digital transformation initiatives, including digitization and digitalization, require cultural shifts to overcome resistance to change. BPM solutions provide scalability, expert support, and compliance with regulations. Large enterprises in various industry verticals are deploying on-premise and cloud-based BPM systems to improve the efficiency of workforce, operational resilience, and adherence to compliance and regulations.
The Business Process Management (BPM) market is thriving with innovations across various sectors. Enterprise resources planning (ERP) systems and custom applications are often used to manage and monitor business processes These solutions are crucial for sectors including retail banking, credit unions, and defense. In addition, companies are focusing on GDPR compliance and fintech developments, reflecting the broader technology market trends. The market is experiencing dynamic shifts with the integration of low-code app development and cloud-native architecture.
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 Business Process Management, 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 Business Process Management 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 market growth. Hence, such factors are expected to hinder the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. The market growth and forecasting report focuses on adoption rates in different regions based on penetration. Furthermore, the market trends and analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
The market is evolving rapidly, with significant contributions from many players. The process modeling segment is vital for enhancing operational efficiency in large enterprise segment, particularly within sectors like telecom, defense segment, and life sciences. Emerging technologies and platforms are driving innovation in BPM, aligning with trends in mergers and acquisitions and artificial intelligence. Organizations are increasingly adopting BPM solutions to streamline processes and support comprehensive digital transformation. Initiatives like the NetZero Banking Alliance reflect the growing emphasis on sustainability within the financial sector. The Business Process Management (BPM) market is rapidly evolving with key innovations driving growth.
Moreover, the Tasmanian Liberal party is focusing on leveraging advanced digital banking and core-banking systems to drive product innovation within the financial sector. Partnering with prominent tech firms like SAP Signavio, Comidor LTD, and TIBCO, including their TIBCO ModelOps, aims to enhance cloud-based BPM solutions and SCM (Supply Chain Management). Collaboration with Micro Focus and Celonis highlights the emphasis on digital transformation and HRM (Human Resource Management). Pega Infinity and Jutro Digital Platform are key to integrating core-banking systems with innovative comindware innovation lab solutions. The EFMA and Guidewire Partner Connect associations reflect a commitment to aligning with global standards and exploring mergers and acquisitions to bolster capabilities. LAMEA (Latin America, the Middle East, and Africa) also features prominently, showcasing regional engagement and growth potential. The AGS AI Platform and RCM (Revenue Cycle Management) further illustrate a focus on harnessing AI and advanced analytics for strategic benefits.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
Market growth 2024-2028 |
USD 10.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.53 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, Japan, Germany, UK, and China |
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., CREATIO 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 Corporation, Oracle Corp., Pegasystems Inc., Salesforce Inc., Software AG, Thoma Bravo LP, and Vista Equity Partners Management LLC |
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. |
Customization purview |
If our market 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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