The business process management global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Business Process Management Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The business process management market size has grown rapidly in recent years. It will grow from $15.87 billion in 2023 to $18.67 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to processed efficiency demands, data explosion, and analytical needs, risk management imperatives, organizational agility requirements, and regulatory compliance requirements
The business process management market size is expected to see rapid growth in the next few years. It will grow to $36.24 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to focus on operational excellence, demand for process automation, integration with emerging technologies, business continuity and resilience, and industry-specific solutions. Major trends in the forecast period include innovations such as cloud-based BPM solutions, robotic process automation integration, bpm for compliance and risk management, customer-centric process design, and low-code or no-code platforms.
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Scope Of Business Process Management Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Business Process Management Market Overview
Market Drivers –
Major Driver Impacting Market Growth
Market Trends –
Major companies operating in the business process management market are focused on forming strategic partnerships to gain a competitive edge in the market. These partnerships play a crucial role in enhancing automation, ERP (enterprise resource planning) implementation, and digital transformation initiatives. For instance, in June 2023, Avec, an Australia-based specialist IT project delivery company, partnered with PRIME BPM, an Australia-based provider of end-to-end business process management organization, to enhance its project capabilities. Through this partnership, Avec aims to leverage PRIME BPM’s software to enhance its project capabilities across various domains. This collaboration will result in the integration of PRIME BPM’s end-to-end Business Process Management solutions into Avec service offerings, to deliver high-quality outcomes to its clients.
The business process management market covered in this report is segmented –
1) By Solution: Automation, Process Modeling, Content And Document Management, Monitoring And Optimization, Integration, Other Solutions
2) By Deployment: Cloud-Based, On-Premise
3) By Business Function: Human Resource Management (HRM), Procurement And Supply Chain Management (SCM), Sales And Marketing, Accounting And Finance, Customer Service Support, Other Business Functions
4) By Application: BFSI (Banking, Financial Services and Insurance), IT, Retail, Manufacturing, Healthcare, Government And Defense, Other Applications
5) By End-user: Small And Medium-sized Enterprises (SMEs), Large Enterprise
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Regional Insights –
North America was the largest region in the business process management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business process management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the business process management market are Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Salesforce.com Inc., Red Hat Inc., Genpact Ltd, Pegasystems Inc., WNS Global Services, Software AG, TIBCO Software Inc., Bizagi Group, Newgen Software Inc., Appian Corporation, Kofax Corporation, Nintex Global Ltd., Laserfiche Corporation, Camunda, ProcessMaker Inc., Ultimus, Auraportal Corp., Bonitasoft, BP Logix Inc., FlowForma, WorkflowGen
Table of Contents
1. Executive Summary
2. Business Process Management Market Report Structure
3. Business Process Management Market Trends And Strategies
4. Business Process Management Market – Macro Economic Scenario
5. Global Business Process Management Market Size and Growth
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32. Global Business Process Management Market Competitive Benchmarking
33. Global Business Process Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Business Process Management Market
35. Business Process Management Market Future Outlook and Potential Analysis
36. Appendix
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