Global Business Process Management Market was valued at USD XX Mn. in 2019 and is expected to reach at USD XX Mn by 2027 at a CAGR of 11.3% over the forecast period 2019-2027.
Global Business Process Management Market
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The report covers an in-depth analysis of COVID-19 pandemic impact on Global Business Process Management Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Business process management (BPM) is an organisational discipline in which a business takes a step back and looks fully and independently at all of these procedures. It includes activities such as automation, design, modelling, control, execution, measurement, process optimization, and others to support initiative goals.
The BPM programme centralises the resources distributed geographically and enhances an organization's operational efficiency. The incremental transition from linear management to holistic management and control is a major technological advancement in the BPM market. For instance, manufacturing and supply chain processes have only been integrated as a linear process in the last decade. Major factors expected to drive the growth of the BPM market are the convergence of Artificial Intelligence (AI) and Machine Learning (ML) technologies with BPM applications, the need for an automated business process to minimise manual errors, and improved IT systems to meet the diverse requirements of customers.
The report covers the segments in the business process management market such as organization size, application, industry vertical, and deployment. By organization size, small and medium enterprises segment of BPM is expected to grow at the highest CAGR of XX.XX% and is expected to reach a value of US$ XX Mn. by 2027. This growth is attributed to the easy implementation and rise in the scale of an undertaking for the realignment of the entire business process.
Among the industry vertical, banking financial services and insurance segment dominated the market, with a market size of US$ XX Mn in 2019 thanks to rising economic and financial crises. Financial entities rely on technological tools to aid them optimize their processes and resources. For instance, Societe Generale Serbia has agreed to deploy IBM Business Process Manager and IBM Application Link Enterprise to better serve its customers.
Globally, the cloud-based segment is estimated to grow at the highest rate, by deployment. This growth is attributed to the rising demand for low-cost storage and scalability offered by cloud technologies.
By geography, North America is expected to hold the largest XX% share in the BPM market owing to the presence of major IT and Large Enterprises market players in this region. The U.S. Business Process Management (BPM) market is projected at US$ XX Mn. in the year 2021. Additionally, APAC also plays important roles in the BPM market, with a market size of US$ XX Mn in 2019 and will be US$ XX Mn in 2027, with a CAGR of XX%. Major countries like China and Japan have occurred as undisputed leaders in the BPM market.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger & acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Business Process Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Business Process Management Market dynamics, structure by analyzing the market segments and project Global Business Process Management Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Business Process Management Market the report investor’s guide.
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Global Business Process Management Market, by Organization Size
● Small and Medium Enterprises
● Large Enterprises
Global Business Process Management Market, by Application
● Process Automation
● Content & Document Management
● Case Management
● Monitoring & Optimization
Global Business Process Management Market, by Industry Vertical
● Banking Financial Industry Services and Insurance
● Healthcare and Life Sciences
● IT and Telecommunication
● Energy and Utilities
● Government & Defence
Global Business Process Management Market, by Deployment
Global Business Process Management Market, by Region
● North America
● ME & Africa
● Latin America
Global Business Process Management Market Major Players
● SAP SE
● IBM Corporation
● Software AG
● Newgen Software
● TIBCO Software
● BP Logix
● Microsoft Corp.
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