Business Process Management (BPM) Market to reach US$ 13,490 million by 2025
Published | March 2019
According to BlueWeave Consulting, the global Business Process Management(BPM) Market is anticipated to worth USD 13,490 million by 2025, with a CAGR of 13.9% during 2019-2025. The Global Business Process Management Market is expected to grow with a significant rate during the forecast period 2019-2025 owing to the growing dependency of business organizations on process-oriented tools for the automation system.
The use of Business Process management for centralizing the geographically dispersed resources and increases the operational efficiency of any organization will boost the Business Process Management market in the upcoming year. Moreover, the major factor driving the market growth is the growing application of Business Process Management in the cross-functional collaboration among all business departments led to the integration of all the major business functions, including accounting, finance, marketing & sales, manufacturing, supply chain management, and human resource in any organization.
Moreover, the application of BPM to improve an existing processor to create a new business process in various organizations will trigger Business Process Management in upcoming periods. Furthermore, application of BPM to improving specific departmental level processes, automating departmental or enterprise-wide processes, redesigning enterprise-wide processes, defining enterprise-wide process management and governance system. Is accelerating the growth of the Business Process Management market. Additionally, uses of Business Process Management technology helps to contribute in achieving real-time goals of the organization by strengthening its operational process will contribute to Business Process Management market growth during the forecast period and help to improve in organizations overall efficiency and visibility is a key driver aiding to the growth of Business Process Management market.
The automation type of Business Process Management market is projected to be the leading solution to the overall market during the forecast period.
Based on Solution Type, the Business Process Management market segmented into Automation, Process Modelling, Content & Document Management, Monitoring & Optimization, and Integration. The automation segment dominates the global Business Process Management owing to the application of the automation system in the healthcare system for patient management and the BFSI industry for regulating work efficiency. The process modeling market will influence by uses of BPM for improving efficiency, transparency in organizations' processes and provide the best solution. The monitoring & Optimization segment will drive by centralization and control of any organizations irrespective of geographically dispersed.
The system integration type of Business Process Management market is expected to the dominating service of the overall market during the forecast period.
Based on the Service type, the Business Process Management market segmented into System integration, Consulting, and Training & Education. System integration dominates the market owing to the application of BPM for monitoring and optimizing their organizational structure. The consulting market will boost by the application of BPM in any organization to improve operations efficiently and with minimum operational cost.
BFSI is projected to lead the industry for utilizing applications of the Business Process Management during the forecast period
Based on application, the global Business Process Management market segmented into BFSI, IT & Telecom, Retail, Manufacturing, Healthcare, and Government & Defense. By application type, BFSI will lead the market due to the application of BPM in banking to improve all banking operations efficiently, reduce resource time, and faster productivity. Government & Defense is expected to grow at the fastest rate during the forecast period owing to applications of BPM to facilitating all government & public services and solutions to end-user efficiently and easily.
The on-premise type of Business Process Management market is anticipated to be the leading deployment of the overall market during the forecast period.
Based on Deployment Type, the Business Process Management market has been segmented into Cloud-based and On-Premise. Based on Deployment Type, On-premise based BPM will dominate the market due to its properties of controlling in the owner’s hand and providing data security of any organization. Cloud-Based BPM will be the fastest-growing market due to its flexibility, accessibility, and speeding up of information during retrieving.
Large Enterprise leading enterprises for utilizing applications of the Business Process Management during the forecast period
Based on the End-user type, the Business Process Management market has been segmented into SME and Large Enterprise. Large Enterprise segment will lead the market owing to applications of BPM to controlling, managing, and monitoring various works, productivity and minimizes operational cost. SME will fastest growing market due to uses of BPM as managing all works and minimizing operational cost.
North America accounts for the lion’s share of the global Business Process Management market during the anticipated period.
Based on the region, the Business Process Management market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the Business Process Management market over the forecast period owing to the presence of giant BPM services providers in this region. Asia Pacific is projected to be the fastest-growing market throughout the forecast period due to the huge demand for BPM in government, healthcare, and IT sectors.
Global Business Process Management Market Competitive Landscape
Companies, such as IBM Corp., Microsoft Corp., Oracle Corp., SAP SE, TIBCO Software, web methods, Appian Corp., Global 360, BizFlow Corp, EMC Corp., Pegasystems, Inc., Peoples soft, Capgemini Group, Software AG, RedHat, K2, BPLogix, Open Text Corporation, Verisae, Inc, Dell Emc, Microsoft Biz Talk Server, Adobe, Fujitsu, Fabasoft, Hewlett Packard, SAP Frankfurt Stock Exchange, and Ultimus are the key players for providing services of Business Process Management. In terms of services offerings, Pegasystems, Inc., IBM Corp., Progress Software, and Appian Corp. are the major players in the market.
Explore full report with detailed TOC, “Global Business Process Management Market Size , By Solution (Automation, Process Modelling, Content & Document Management, Monitoring & Optimization, Integration),By Service (System integration, Consulting and Training & Education), By Application (BFSI, IT & Telecom, Retail, Manufacturing, Healthcare, Government & Defense), By Deployment (Cloud-based and On-Premise), By End-User (SME and Large Enterprise), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2019-2025” at https://www.blueweaveconsulting.com/global-business-process-management-market-bwc19121