Business Process Management (BPM) Market 2018 Global Overview, Top Key Players, Industry Growth, Regional Analysis and Segments by Forecast to 2023

“Business Process Management (BPM) Market”
Business Process Management Market, By Solution (Process Improvement, Content and Document Management), By Service (Training and Education), By Business Department (Operation and Support, Accounting & Finance) – Forecast 2023

Business Process Management Market Overview:

Business Process Management (BPM) is a software solution that allows the businesses to streamline the set of processes or workflows. BPM Software (BPMS) allows the businesses to develop a framework to implement, execute, monitor and improve its processes. It also offers cost effective solution to businesses by integrating with other business applications that automates and streamlines the workflow that are required by multiple enterprise applications.

Additionally, rapid expansion of cloud infrastructure among the large enterprise is also adding fuel for the adoption of on-cloud Business Process Management Market solution. Furthermore, rising adoption of analytical solution such as business analytics with business process management is likely to witness a promising growth during the forecast year. Integration of business analytics and BPM solution improves the decision capabilities with powerful algorithms that encourages new solutions.

However, business process management requires constraints associated with the Business Process Management include lack of communication among the functional departments and threat of data breaches are likely to hinder the growth of the business process management market during the assessment period.

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Major Key Players:

Some of the prominent players in the Business Process Management market are IBM Corporation (US) Appian Corporation (US), Software AG (Germany), Oracle Corporation (US), Pegasystems Inc. (US), Redhat Inc. (US), Open Text Corporation (Canada), TIBCO Software. (US), Verisae Inc. (US), Dell Corporation (US), among others are profiled in Market Research Future analysis and are at the forefront of competition in the Business Process Management market.

Industry News:

August 2018, Software AG revealed New Open Source Library for Standards-Based AI, Machine Learning and Predictive Analytics.

Newly launched Open Source Library Nyoka offers a comprehensive support for the latest Predictive Model Markup Language (PMML) standard as well as extensions for data pre-processing, script execution and deep neural network. Nyoka also addresses the challenges faced by the businesses with complex AI solutions, model updates, cross-platform execution and data integration.

November 2015, TIBCO Software launched TIBCO Simplr and TIBCO ActiveMatrix BPM 4.0

With the increased Mobile applications and rising adoption of BYOD across the commercial sector have encouraged TIBCO to launch two new tools such as TIBCO Simplr and launch of TIBCO ActiveMatrix BPM 4.0 to streamline work process. The newly launched tools offer faster speed, quality of work process and also helps to leverage its technology to advance business processes.

Global Business Process Management Market Segmentation:

Segmentation by Component: Solution and Services

Segmentation by Solution: Process Improvement, Automation, Content and Document Management, Integration, and Monitoring and Optimization

Segmentation by Services: System Integration, Consulting Services, and Training & Education.

Segmentation by Deployment Type: On Cloud and On Premise.

Segmentation by Organization Size: large enterprise and small and medium enterprise.

Segmentation by Business Function: Human resource, accounting and finance, sales and manufacturing, supply chain management, operation support, and others.

Segmentation by Vertical: IT and telecommunication, government BFSI, manufacturing, retail healthcare, retail, and others.

Segmentation by Region: North America, Europe, Asia Pacific and Rest of the world.

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Business Process Management Market Regional Analysis:

Geographically, the Business Process Management Market is categorized as North America, Europe, Asia-Pacific and Rest of the World. North-America is likely to gain the highest market share in the BPM market and the US and Canada are expected to be major contributing region owing to presence of IT giants such as IBM and Oracle. Europe is likely to gain second largest market share in the BPM market.

The market growth is attributed to rising adoption of bring your own device (BYOD) policy across the industry vertical. Asia-Pacific region, the market for business process management is witnessing high growth owing to rapid expansion of cloud  infrastructure in emerging countries such as India and China.

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