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Business Process Management Market

Business Process Management Market Size, Share & Segmentation by Component (Platform and Services), by Business Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, Others), by Industry Vertical (IT, Telecommunication, Retail, and Consumer Goods, Healthcare and Life Sciences, BFSI, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1587 | June 2022 | Region: Global | 130 Pages

Report Scope & Overview:

The Business Process Management Market size was valued at USD9.32 Bn in 2021 and is expected to reach USD19.56 Bn by 2028, and grow at a CAGR of9.71 % over the forecast period 2022-2028.

Business Process Management (BPM) is the method through which a corporation develops, changes, and analyses predictable procedures in order to improve the business process. BPM is not a one-time operation; rather, it is a continuous activity that entails continuous process re-engineering. This procedure entails the automation of tasks inside a business process. It is responsible for examining the present situation and identifying opportunities for development in order to make the organization more efficient and productive. BPM is made up of several phases, including designing, modeling, executing, monitoring, and optimization. This procedure is gaining popularity because businesses feel that automating the process would increase revenue and outcomes.

Business Process Management Market

Business process management (BPM) is the study of software and services that are used to accomplish the aforementioned tasks with high efficiency and output. Most firms have traditionally used on-premise BPM, but recent advances in cloud computing have prompted interest in on-demand software-as-a-service (SaaS) solutions.

MARKET DYNAMICS:

KEY DRIVERS:

  • Advanced technologies, machine learning, intelligence solutions, and artificial intelligence are all being adopted.

  • The development of new sophisticated technologies and BPM platforms is aided by the surge in intelligence solutions.

RESTRAINTS:

  • The software's high initial price.

  • Middle management's use of business process management solutions.

OPPORTUNITY:

  • Increased use of on-premise BPM software.

  • An increasing number of advantages are provided by cloud-based solutions.

CHALLENGES:

  • The high cost of creating business process management software necessitates a large amount of money.

IMPACT OF COVID-19:

Under the influence of COVID-19, the Business Process Management (BPM) Software market has undergone a significant transformation in recent years. The global market size of Business Process Management (BPM) Software has seen positive growth with a growing CAGR, and this trend is expected to continue during the forecast period. COVID-19 has the potential to have three main consequences on the global economy: directly affecting production and demand, disrupting supply chains and marketplaces, and affecting enterprises and financial markets financially. Following the COVID-19 crisis, our analysts, who are watching the situation throughout the world, feel that the market will give manufacturers attractive prospects.

The fragility of supply networks has been revealed with the commencement of COVID-19. Providers of vital IT services are part of the unstable ecology for most IT firms. Work-from-home rules have also prompted service providers to guarantee that mission-critical corporate clients have the tools and technology they need to improve the speed, security, quality, and overall efficacy of services supplied, increasing market growth.

MARKET ESTIMATION:

Processes that formerly required human interaction are now automated, allowing the person to concentrate on their core strengths. This results in optimal resource use; optimized resource utilization refers to a set of procedures and practices that manage a balance between available resources and the needs of businesses to fulfill their objectives. Furthermore, BPM software offers experts with excellent tools for designing business rules based on the needs of a company project. The Corporate Process Management Market is predicted to expand due to several benefits such as better labor efficiency, quicker time to market, process agility, effective management of compliance and regulations, and openness of business processes.

Cloud installations are likely to gain popularity throughout the projection period since they provide the flexibility of on-demand resource provision and consumption. Organizations select this deployment option because it provides ease of access as well as lower capital and operational costs. During the projected period, the Small and Medium-sized Enterprises (SMEs) category is predicted to develop at a faster CAGR. The demand for BPM software and services is predicted to expand in response to the rising desire to save operational costs and simplify corporate operations.

KEY MARKET SEGMENTS:

On The Basis of Component:       

  • Platform

  • Services

On The Basis of Business Function:       

  • Human Resource Management (HRM)

  • Procurement and Supply Chain Management (SCM)

  • Sales and Marketing

  • Accounting and Finance

  • Customer Service Support

  • Others

On The Basis of Industry Vertical:         

  • IT

  • Telecommunication

  • Retail and Consumer Goods

  • Healthcare and Life Sciences

  • BFSI

  • Others

Business Process Management Market

REGIONAL ANALYSIS:

The worldwide business process management market has been split into the Asia Pacific, the Americas, Europe, and the rest of the globe, according to the research. North America is expected to have the largest proportion of the global business process management market. The rise in demand for effective software for corporate operations, as well as the existence of significant BPM providers, is the primary driver driving market expansion in the North American area. Canada and the United States are major revenue contributors in the business process management industry in this area. Due to substantial investment by large firms in increasing company productivity and efficiency, the Asia Pacific region is expected to be one of the market's most prominent participants.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are IBM Corporation, Pegasystems, Appian, Oracle, Software AG, Nintex, OpenText, Newgen Software, Genpact, TIBCOTop of Form

Business Process Management Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 9.32 Bn
Market Size by 2028  US$ 19.56 Bn
CAGR   CAGR of 9.71% From 2022 to 2028
Base Year 2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Component (Platform and Services)
• by Business Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, Others)
• by Industry Vertical (IT, Telecommunication, Retail, and Consumer Goods, Healthcare and Life Sciences, BFSI, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles IBM Corporation, Pegasystems, Appian, Oracle, Software AG, Nintex, OpenText, Newgen Software, Genpact, TIBCO
Key Drivers • Advanced technologies, machine learning, intelligence solutions, and artificial intelligence are all being adopted
Market Opportunities • Increased use of on-premise BPM software
• An increasing number of advantages are provided by cloud-based solutions

 


Frequently Asked Questions (FAQ) :

Ans: - The Business Process Management Market size was valued at USD9.32 Bn in 2021.

Ans: - Advanced technologies, machine learning, intelligence solutions, and artificial intelligence are all being adopted.

Ans: - North America is expected to have the largest proportion of the global business process management market

Ans. The primary growth tactics of Business Process Management market participants include merger and acquisition, business expansion, and product launches.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Business Process Management Market Segmentation, by Component

8.1 Platform

8.2 Services

 

9. Business Process Management Market Segmentation, by Business Function

9.1 Human Resource Management (HRM)

9.2 Procurement and Supply Chain Management (SCM)

9.3 Sales and Marketing

9.4 Accounting and Finance

9.5 Customer Service Support

9.6 Others

 

10. Business Process Management Market Segmentation, by Industry Vertical

10.1 IT

10.2 Telecommunication

10.3 Retail and Consumer Goods

10.4 Healthcare and Life Sciences

10.5 BFSI

10.6 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profiles

12.1 IBM Corporation

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Pegasystems

12.3 Appian

12.4 Oracle

12.5 Software AG

12.6 Nintex

12.7 OpenText

12.8 Newgen Software

12.9 Genpact

12.10 TIBCO

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

 

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

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