Business Process Management Market Research Report- Global Forecast 2030

Business Process Management Market, By Solution (Process Improvement, Content and Document Management), By Service (Training and Education), By Business Department (Operation and Support, Accounting & Finance) - Forecast 2030

ID: MRFR/ICT/2403-HCR | December 2022 | Region: Global | 100 Pages         

Business Process Management Market

Business Process Management Market is Anticipated to Reach US$ 28.3 Billion by 2030 Registering a CAGR of 12.40%

Segmentation

By Solution Process Improvement Content and Document Management
By Service Training Education
By Business Department Operation and Support Accounting & Finance

Key Players

  • IBM Corporation (U.S.) Appian Corporation (U.S.)
  • Software AG (Germany)
  • Oracle Corporation (U.S.)
  • Pegasystems Inc. (U.S.)
  • Redhat Inc. (U.S.)
  • Open Text Corporation (Canada)
  • Tibco Solution Inc. (U.S.)
  • Verisae Inc. (U.S.)
  • Dell Emc (U.S.)

Drivers

  • helps users to gain advantages from BPM solution at low cost
  • valuable service offered by BPM solution that helps in customer acquisition and retention in banking sector
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Business Process Management Market Overview:


According to the latest report, the business process management market is predicted to reach approximately USD 28.3 Billion by the end of the year 2030 with a growth rate of 12.40% of CAGR between 2022-2030. Business process management is a process that helps in improving the entire business operations and it is highly adopted by organizations. It permits organizations to efficiently manage the workflow, making it more effective, and also makes them more adaptable with the change in environment. It helps businesses to accomplished specific goals including efficient workflow of business, increasing productivity of the business, and return on investment.


The major factor that is driving the growth of the business process management market business included cloud solution technology which helps consumers to gain advantages from BPM solution at low cost. The rise in the surging need for automation in order to reduce the service costs and products is a major factor that is contributing to the growth of business process management. The prioritization and identification of the process in order to re-engineer organizational processes by small, medium, and large-sized enterprises is very important in the business process management market. In the service industry, the BPM market or BPM solutions keep the whole process connected and user friendly, which provides better quality of services to the end-users.


This report contains all the information on the global business process management market trends, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global business process management market analysis forecast to 2023 is also included in the report.


Business Process Management Market Covid 19 Analysis:
The outbreak of global pandemic covid 19 has affected the supply chain of business process management market, mostly in IT organizations, and critical IT services include fragile ecosystems. Additionally, the mandatory regulation of work from home has led the service providers in order to ensure the mission-critical enterprise customers have the necessary technologies and tools in order to enable the quality, speed, efficiency of service provided, and quality. Hence it is likely to boost the overall growth of the business process management market.


Business Process Management Market Dynamic:
Drivers:
The adoption of advanced technology, machine learning, intelligence solutions, and artificial intelligence is the major factor that is contributing to the growth of the global business process management market. The rise in intelligence solutions which helps in developing new advanced technologies and BPM platforms is another major factor that is contributing the growth of global business process management market sales.


Opportunities:
The global business process management market in the last decade has witnessed a higher adoption of the on-premise BPM software. Moreover, the rise in benefits offered by cloud-based solutions has ultimately increased the on-demand software-as-a-service offered by SMEs. This trend is likely to create opportunities over the forecast period.

Restraints:
The initial cost of the software of business process management is a major factor that is hampering the growth of the business process management market. Moreover, the adoption of business process management solutions by middle management is another major factor that is restraining the growth of the global business process management market to a significant extent.

Challenges:
The requirement for huge capital in the manufacturing of cost of business process management software is the major challenge for the global business process management market.

Cumulative Growth Analysis:
According to the reports, in the year 2020 Appian corporation led an integration partnership with Box which is basically a cloud management platform. This collaboration is done for more secure, valuable, and efficient enterprises. The former’s Low-code Automation Platform can be integrated with the Box platform in order to access the wide variety of document-centric which is used in minutes with Appian’s no-code Plug-In Connector.


Value Chain Analysis:
According to the reports, the global business process management market has been segmented on the basis of solution, service, business department, organization size, vertical, and region. On the basis of solution the global business process management market has been segmented on the basis of Process Improvement, Automation, Content and Document Management, Integration, and Monitoring and Optimization. On the basis of services, the global business process management market has been segmented into System Integration, Consulting, and Training and Education. On the basis of the business department, the global business process management market has been segmented into Human Resource, Accounting, and Finance, Sales and Marketing, Manufacturing, Supply Chain Management, Operation and Support, and Others. On the basis of organization size, the global business process management has been segmented into Small & Medium Enterprises and Large Enterprises. On the basis of vertical, the global business process management market has been segmented into Government & Defence, BFSI, IT & Telecommunication, Healthcare, Retail, Manufacturing, and Others.


Business Process Management Market Segmentation Overview:
The market is segmented on the basis of the solution, service, business department, organization size, vertical, and region. The global business process management market is expected to witness decent growth during the forecast period.


By Application:
Based on the application, the market is segmented into Process Improvement, Automation, Content and Document Management, Integration, and Monitoring and Optimization


By end-users:
Based on the propulsion types, the market is segmented into Human Resource, Accounting and Finance, Sales and Marketing, Manufacturing, Supply Chain Management, Operation and Support and Others


Business Process Management Market Regional Analysis:
According to the reports, on the basis of region, the global business process management market has been segmented into the Asia Pacific, Americas, Europe, and the rest of the world. North America is likely to hold the maximum global business process management market share. The rise in demand for efficient software for operations in business and the presence of considerable BPM vendors is the major factor that is driving the growth of the market in the North American region. Countries including Canada and the US contribute a large amount of revenue in the business process management market in this region. Asia Pacific region is predicted to be one of the major prominent players in the market due to high investment by major enterprises in rising the business productivity and efficiency.


Business Process Management Market Competitive Landscape:
The global business process management market industry is highly competitive due to the presence of international players and regional players. Players are focused on acquisitions & mergers, and the innovation in products to maintain their position in the global market, it holds a rivalry position among the competitors.


Business Process Management Market Major Key Players:



  • IBM Corporation (U.S.

  • Appian Corporation (U.S.)

  • Software AG (Germany)

  • Oracle Corporation (U.S.)

  • Pegasystems Inc. (U.S.)

  • Redhat, Inc. (U.S.)

  • Open Text Corporation (Canada)

  • Tibco Solution Inc. (U.S.)

  • Verisae, Inc. (U.S.)

  • Dell Emc (U.S.), among others.


Report Overview:
The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments:
August 2020 - Signavio launched a specific Business transformation suite toward the insurance industry with a focus on eliminating repetitive work, reducing human error, and detecting non-compliant behavior. This is further expected to optimize existing processes in preparation for RPA implementation at scale. 


Business Process Management Market segments by Solution:



  • Process Improvement

  • Automation

  • Content and Document Management

  • Integration

  • Monitoring and Optimization


Business Process Management Market segments Market by Service:



  • System Integration

  • Consulting

  • Training and Education


Business Process Management Market segments by Business Department:



  • Human Resource

  • Accounting and Finance

  • Sales and Marketing

  • Manufacturing

  • Supply Chain Management

  • Operation and Support

  • Others


Business Process Management Market segments by Organization Size:



  • Small & Medium Enterprises

  • Large Enterprises


Business Process Management Market segments by Deployment:



  • Cloud

  • On-Premise


Business Process Management Market segments by Vertical:



  • Government & Defence

  • BFSI

  • IT & Telecommunication

  • Healthcare

  • Retail

  • Manufacturing

  • Others


Business Process Management Market segments by regions:



  • North America

    • US

    • Canada



  • Europe

    • UK

    • Germany

    • France

    • Rest of Europe



  • APAC

    • China

    • Japan

    • Rest of APAC



  • MEA

    • KSA

    • UAE

    • Rest of MEA



  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America





Report Scope:

Report Attribute/Metric Details
  Market Size   USD 28.3 billion
  CAGR   12.40%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Solution, Service and Business Department
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   IBM Corporation (U.S.) Appian Corporation (U.S.), Software AG (Germany), Oracle Corporation (U.S.), Pegasystems Inc. (U.S.), Redhat, Inc. (U.S.), Open Text Corporation (Canada), Tibco Solution Inc. (U.S.), Verisae, Inc. (U.S.), Dell Emc (U.S.)
  Key Market Opportunities   growth includes cost efficiency, investment returns from BPM software and business coordination and control
  Key Market Drivers

  • helps users to gain advantages from BPM solution at low cost
  • valuable service offered by BPM solution that helps in customer acquisition and retention in banking sector


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    Frequently Asked Questions (FAQ) :

    The key drivers influencing the business process management market are directed towards cloud solution technology.

    The market will be gaining a valuation of USD 28.3 Billion by 2030.

    The market will be expanding at 12.40% of CAGR in the future.

    The growing demand for efficient software for business operation and the presence of major BPM vendors is triggering the market growth in the North America region.

    The Asia‐Pacific region is the prominent player in the market because of enormous investment by enterprises in swelling business efficiency and productivity.