The global business process management market is projected to reach a value of USD 24,413.93 million by 2025, growing at a CAGR of 15.7%. The rising requirement of automate processes and attain business agility in numerous industries is anticipated to propel the adoption of the business process management platform. As the demand for BPM is directly associated with the demand for process automation in various industries, the greater the demand for process automation across the world, the greater is the demand for BMP solutions. Organizations are progressively concentrating on greater efficiency, cost-efficiency, data safety, and threat management, which is ensuing in the extensive acceptance of business process management solutions that automate and unify business processes. —
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Business Process Management (BPN) is a type of operations management that focuses on retaining, controlling, and maximizing a company's business processes in order to improve overall efficiency. To support business objectives entails tasks such as architecture, automation, execution, calculation, simulation, monitoring, process optimization, and others. It gives organizations more control by allowing them to manage workflow more quickly and easily, as well as making them more adaptable to changes in the environment. It aids organizations in achieving particular objectives such as streamlining business workflow, increasing market growth, and maximizing return on investment.
Customers will benefit from the benefits of BPM innovations at a lower cost thanks to cloud computing technology. The gradual move from sequential to holistic control and management is one of the key technical advances in this industry. This, in fact, is supposed to fuel the BPM market's growth.
The global business process management (BPM) market is expected to expand significantly in the near future, owing to increased demand for process automation and improved performance, as well as the need to comply with stringent government regulations and policies and boost organizations' return on investments (RoI). Furthermore, developments in cloud computing and Big Data are projected to boost the global BPM market, resulting in improved productivity in BPM applications and increased IT spending. However, middle management opposition to adopting BPM solutions and a lack of clarification regarding the advantages of BPM solutions among end-users are impeding market development.
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BPM provides practitioners with innovative tools that allow them to quickly create operational rules based on project specifications. Numerous benefits, such as quicker time to market, increased employee efficiency, effective compliance, process resilience, and regulatory management, and business process transparency are likely to drive the global business process management market growth.
The growing number of SMEs embracing BPM to improve operating performance is projected to propel the BPM market size in the coming years. SMEs are implementing BPM techniques to realign corporate operations and manage massive amounts of data from various outlets, such as emails, journals, and intranet portals. These solutions are easier to implement in SMEs than in big corporations. The BPM solution removes the need for micromanagement at the top management level, which is expected to be one of the key reasons for its widespread adoption across large organizations.
North America attained largest market share in the global business process management market in 2018. The growth is accredited towards the well-established economies, which support investment in new technologies. North America is home to big industries that are capable of financing in reliable and advanced IT infrastructure for automating business processes, thus creating new opportunities for the business process management.
Major players operating in the global business process management market include Pegasystems, Appian, IBM, Oracle, Software AG, Nintex, OpenText, Newgen Software, Genpact, TIBCO, Bizagi, ProcessMaker, Creatio, AgilePoint, BP Logix, K2, Bonitasoft, Kissflow, Kofax, and AuraPortal among others.
Key Segments of the Global Business Process Management Market
Type Overview, 2015-2025 (USD Million)
Content and Document Management
Monitoring and Optimization
Application Overview, 2015-2025 (USD Million)
Government & Defense
IT & Telecom
Regional Overview, 2015-2025 (USD Million)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
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