Business Process Management (BPM) Market to See Staggering Growth Through 2025
BPM automates end-to-end manual process as well as track processes. Its prime objective is to reduce the human inaccuracy and miscommunication while maintaining and optimizing an organization's equipment and core operations.
[EUPRwire, Tue Apr 30 2019] Adroit Market Research launched a study titled, “Global Business Process Management Market Size 2016, By IT Solution (Process Improvement, Automation, Content & Document Management, Integration, Monitoring & Optimization), By IT Service (System Integration, Consulting, Training & Education), By Business Function/Department (Human Resource, Accounting & Finance, Sales & Marketing, Manufacturing, Supply Chain Management, Operation & Support, Others), by Organization Size (SMEs, Large Enterprises), by Deployment (Cloud, On-Premise), by End-use Industry (Government & Defence, BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Others), By Region and Forecast 2017 to 2025”. The study covers the global business process management market value for a period ranging between 2012 to 2025, where 2012 to 2016 imply the actual annual consumption with forecast between 2017 and 2025. The global business process management includes value chain analysis as well as an exhaustive lifecycle analysis of the BPM market. The value chain has been provided by covering the key stages. The product lifecycle analysis has been provided by taking in to account the historic and future trends that are expected to have a significant impact on the adoption of BPM.
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By 2025, the global business process management market size is expected to reach a valuation of USD 18 billion, assisted by the rapid and wide spread integration of business process management framework. The small scale and medium enterprises are emerging as major users of BPM as the need for streamlining their business processes for effective cost management is of utmost importance to these businesses. The significant cost reductions is a major driver of the business process management software globally.
Business processes are the institutional architecture governing the working of an organization. These processes are designed to achieve specific organizational goals which majorly includes maximization of output, reduction in the cost of operation and thereby ensuring increased profit margins. The rising level of return on investment achieved through the integration of business process management is a major BPM market trend that is driving the growth of the market.
The emergence of cloud computing has proven to be a major catalyst in the accelerated deployment of business process management software among organizations of different scales. BPM in the cloud not only ensures process efficiency, but it also enhances the speed, agility and adaptability of the BPM suite. Cloud BPM offers swifter and low-cost integration, which is the major driver of BPM among small and medium enterprises.
The global business process management industry trends is mainly driven by the fast-paced adoption of the BPM suite by SMEs. On the basis of its deployment, the large enterprises held the large enterprises held the largest market share. This is due to the availability of capital and infrastructure required for integration of BPM. However, with the introduction of cloud-based BP suite, SMEs are projected to record the fastest growth during the forecast period. The convergence of BPM with platform as a service, combining the advantages of application development and process support in an integrated cloud model. This eliminates the traditional IT and business productivity challenges, thereby accelerating the deployment of BPM among the SMEs.
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Based on geography, North America dominated the market due to the presence of a large number of BPM market leaders in the U.S. Along with this, the rate of adoption of BPM suite is faster among the organization present in North America as compared to the other regions, globally. However, Europe is expected to be offer great potential to the global business process management market on account of the anticipated large-scale integration of BPM in the financial sector.
The global business process management market is dominated by the BPM market leaders which include Oracle Corp, Microsoft Corporation, Appian Inc., IBM Corp., and TIBCO among others.
Key segments of the global BPM market
IT Solution Overview, 2012-2023 (USD million)
Content & Document Management
Monitoring & Optimization
IT Service Overview, 2012-2023 (USD million)
Training & Education
Business Function/ Department Overview, 2012-2023 (USD million)
Accounting & Finance
Sales & Marketing
Supply Chain Management
Operation & Support
Organization Size Overview, 2012-2023 (USD million)
Deployment Type Overview, 2012-2023 (USD million)
End-Use Industry Overview, 2012-2023 (USD million)
Government & Defense
IT & Telecom
Regional Overview, 2012-2023 (USD million)
Middle East & Africa
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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