Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Business Process Management Market Size, Share & Trends Analysis Report By Solution (Automation, Process Modelling), By Application, By Deployment, By End-user, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global business process management market is on a trajectory of significant growth, with a projected size of USD 61.17 billion by 2030, reflecting a remarkable CAGR of 19.9% from 2023 to 2030.
This technology-intensive market is continuously evolving to meet the dynamic demands of various end-use industries. Business process management solutions provide businesses with enhanced efficiency and process automation capabilities, enabling them to handle all enterprise processes more effectively.
BPM service providers are at the forefront of innovation, introducing advanced implementation methods and offering a diverse portfolio of solutions to cater to functional and industry-specific requirements. Additionally, consulting services and BPM awareness workshops conducted by major firms are crucial drivers propelling the growth of the BPM market.
Numerous companies are integrating Artificial Intelligence (AI) plus Machine Learning (ML) technologies with business process management software to lessen manual errors and advance IT systems innovation; global competition and new technologies are the key driving aspects behind the development and evolution of the business process management (BPM) industry. BPM has successfully delivered businesses with the means to raise profits and cut budgets.
With the amplified influence of these technologies, BPM can increase the efficiency of its services even more. BPM, available as SaaS in the cloud, offers complete software functionality without needing to install and maintain the software. It eliminates the overhead of managing a server infrastructure while executing a solution for BPM and workflow management. It involves software deployed remotely and generally on demand & via a 'pay as you go model.' Businesses are ever adopting SaaS-based cloud BPM as it provides fast time-to-solution and low infrastructure costs.
Technologies such as robotic process automation (RPA) that have arisen over the past few years have influenced the BPM industry. RPA, with its cost savings capabilities, speed, and effectiveness, is gradually making its way into all segments and all types of business processes. Robotic process automation has also arisen as the quickest-growing trend in BPM, mainly in the management segment, allowing high-value creation with quick time-to-value and prominent cost savings.
Business Process Management Market Report Highlights
- The automation segment is expected to register the highest CAGR from 2023-2030, more than 20%. The growth of this segment can be attributed to the increased efficiency and productivity which automation offers.
- The Cloud-based segment is expected to witness the highest CAGR of more than 20% during the forecast period. The segment's growth can be attributed to lower costs, increased scalability, and flexibility.
- The IT application segment is expected to occupy the largest market share of more than 17% in 2022. The rapid adoption of the latest technologies to improve business processes among IT companies has been a significant factor driving the growth of this segment.
- Asia Pacific is projected to witness the highest CAGR of more than 20% during 2023-2030. The increasing digitalization, improving economy, and increased manufacturing, among others, have contributed to the region's growth
Company Profiles (Overview, Financial Performance, Product Overview, Strategic Initiatives)
- Accenture
- Appian Corporation
- BP Logix, Inc.
- Genpact
- Infosys Limited
- International Business Machines Corporation
- Kissflow Inc.
- Nintex Global Ltd.
- Open Text Corporation
- Pegasystems Inc.
- Red Hat, Inc.
- SAP SE
- Software AG
- Tata Consultancy Services Limited
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $14.46 Billion |
| Forecasted Market Value (USD) by 2030 | $61.17 Billion |
| Compound Annual Growth Rate | 19.9% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Business Process Management Market - Market Snapshot, 2018 - 2030
2.2. Business Process Management Market - Solution Snapshot, 2018 - 2030
2.3. Business Process Management Market - Deployment Snapshot, 2018 - 2030
2.4. Business Process Management Market - End-User Snapshot, 2018 - 2030
2.5. Business Process Management Market - Application Snapshot, 2018 - 2030
2.6. Business Process Management Market - Competitive Snapshot
Chapter 3. Business Process Management Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Business Environment Analysis Tools
3.4.1. Porter's Five Forces Analysis
3.4.2. PEST Analysis
3.5. COVID-19 Impact Analysis
Chapter 4. Business Process Management Market Solution Outlook
4.1. Business Process Management Market Share by Solution, 2022 & 2030 (USD Million)
4.2. Automation
4.3. Process Modeling
4.4. Content & Document Management
4.5. Monitoring & Optimization
4.6. Integration
Chapter 5. Business Process Management Market Deployment Outlook
5.1. Business Process Management Market Share by Deployment, 2022 & 2030 (USD Million)
5.2. Cloud
5.3. On-premise
Chapter 6. Business Process Management Market End-user Outlook
6.1. Business Process Management Market Share by End-user, 2022 & 2030 (USD Million)
6.2. SMEs
6.3. Large Enterprise
Chapter 7. Business Process Management Market Application Outlook
7.1. Business Process Management Market Share by Application, 2022 & 2030 (USD Million)
7.2. BFSI
7.3. IT
7.4. Retail
7.5. Manufacturing
7.6. Healthcare
7.7. Government & Defense
Chapter 8. Business Process Management Market: Regional Outlook
8.1. Business Process Management Market Share by Region, 2022 & 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization (Mature Players, Emerging Players)
9.2. Company Ranking/Share Analysis, 2022
9.3. Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/9mwjga
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