11-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Business Process Management Market By Component (Platform & Services), By Deployment Type (On-Premise and Cloud-Based), By Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), By Business Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, and Others), By End-User Industry (BFSI, IT, Telecommunication, Retail, and Consumer Goods, Healthcare and Life Sciences, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Business Process Management market in 2019 was approximately USD 8.5 Billion. The market is expected to grow at a CAGR of 10.7% and is anticipated to reach around USD 15.9 Billion by 2026.
Business Process Management (BPM) is just a is the combination of processes for performing modeling, control, execution, automation, measurement, and optimization of the business process flows to acquire the target enterprise goals, employees, spanning systems, customers and business partners. It helps the organization to use automated systems to boom its revenue and outcomes.
Market Drivers:
The key drivers of the global Business Process Management market include the surging demand for the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies in the BPM software. Additionally, the rising demand for an automated business process for lowering manually triggered errors and also to improve IT systems to content customers’ dynamic needs will supplement the market expansion. The increasing number of industries including Banking, Financial Services, and Insurance (BFSI); manufacturing; and telecommunications are expected to drive the Business Process Management market during the forecast period.
Browse the full “Business Process Management Market By Component (Platform & Services), By Deployment Type (On-Premise and Cloud-Based), By Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), By Business Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, and Others), By End-User Industry (BFSI, IT, Telecommunication, Retail, and Consumer Goods, Healthcare and Life Sciences, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-business-process-management-market-by-component-platform-683
Market Segment Dominance:
Platform category is expected to dominate the global Business Process Management market during the forecast period
The growing implementation of Business Process Management platform to reduce human intervention is likely to surge the demand for Business Process Management market. Additionally, the growing demand workforce to focus on their core competencies will help increase the demand for such management processes. Furthermore, the need for managing and optimizing using the available resources to reach the business goals further enhances the demand for business process management technologies.
The cloud-based category is anticipated to grow at a faster rate
The cloud-based deployment type is expected to gain momentum during the forecast period owing to the high demand for on-demand resource deployment and consumption. In addition to this, the increasing preference of cloud-based deployment type by the various organizations to ease their accessibility task and lower capital plus operational expenditure.
Small and Medium-sized Enterprises (SMEs) category accounted for the highest growth rate in the global Business Process Management market
The Small and Medium-sized Enterprises (SMEs) category is anticipated to exhibit the fastest growth during the forecast period owing to the growing requirement to lower operational expenditure and modernize business processes.
Regional Dominance:
Asia Pacific is expected to grow at the highest rate
Asia Pacific market is expected to grow at a faster rate owing to the high demand for business process management software and services in the region. The rising use of Business Process Management technology to fine-tune the business processes and bring about a change in the business trend help open new opportunities for the Asia Pacific Business Process Management market. China and Japan have emerged as undisputed leaders in the Business Process Management Market.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 8.5 Billion |
Projected Market Size in 2026 |
USD 15.9 Billion |
CAGR Growth Rate |
10.7% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Appian, Pegasystems, TIBCO, Oracle, Bizagi, Nintex, OpenText, Kofax, Newgen Software, BP Logix, Genpact, IBM, ProcessMaker, AgilePoint, Software AG, K2, Creatio, Bonitasoft, Kissflow, and AuraPortal. |
Key Segment |
By Component, By Organization Size, By Business Function, By End-User and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Market Players:
Some of the key market players of the global Business Process Management market include Appian, Pegasystems, TIBCO, Oracle, Bizagi, Nintex, OpenText, Kofax, Newgen Software, BP Logix, Genpact, IBM, ProcessMaker, AgilePoint, Software AG, K2, Creatio, Bonitasoft, Kissflow, and AuraPortal.
This report segments the global Business Process Management market as follows:
Global Business Process Management Market: Component Segmentation Analysis
Global Business Process Management Market: Organization Size Segmentation Analysis
- Small and Medium-Sized Enterprises
- Large Enterprises
Global Business Process Management Market: Deployment TypeSegmentation Analysis
Global Business Process Management Market: Business Function Segmentation Analysis
- Human Resource Management (HRM)
- Procurement and Supply Chain Management (SCM)
- Sales and Marketing
- Accounting and Finance
- Customer Service Support
- Others
Global Business Process Management Market: End-User Industry Segmentation Analysis
- BFSI
- IT
- Telecommunication
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Others
Global Business Process Management Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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