The implementation of software by both small and medium enterprises is increasing rapidly, especially one into banking and finance. The business process management is gaining demand as organization seek to increase their business productivity by shifting from on-premise to cloud based. The initial low cost, saving amount spent on infrastructure, automatic software upgrading and seamless integration is driving the market of cloud based BPM software solution.
On the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the business process management market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the business process management market.
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Major Key Players:
- IBM Corporation (U.S.)
- Appian Corporation (U.S.)
- Software AG (Germany)
- Oracle Corporation (U.S.)
- Pegasystems Inc. (U.S.)
- Redhat, Inc. (U.S.)
- Open Text Corporation (Canada)
- Tibco Solution Inc. (U.S.)
- Verisae, Inc. (U.S.)
- Dell Emc (U.S.)
The regional analysis of business process management market is being studied for region such as Asia pacific, Americas, Europe and Rest of the World. The increasing demand for efficient software for business operation and presence of major BPM vendors is driving the market growth in North America region.
Countries such as US and Canada contributes large amount of revenue in the business process management market in the region. Asia‐Pacific region is expected to be one of the prominent player in the market owing to huge investment by enterprises in increasing the business efficiency and productivity.
Business Process Management Market Segmentation:
The business process management market has been segmented on the basis of deployment, solution service, business department, organization size and vertical. Service segment, is bifurcated into consulting, system integration and training & education. System integration service empowers organization by allowing them to take challenges of creating seamless connectivity.
It helps to strengthen business by providing visibility and flexibility and making businesses more efficient and innovative.
Business Process Management Market (MRFR) Research Analysis:
By business department segment, business process management market consists of human resource, accounting and finance, sales and marketing, manufacturing, operation and support others. BPM solution leverage human resource department by planning people requirement and managing and recognizing people performance. The study indicates that BFSI sector accounts for highest market share by implementing BPM solution. In banking and finance sector, BPM solution empowers organization by business process and enable them to offer better customer service and satisfaction. In helps in reducing the loan processing time and complication associated with it.
By region, MRFR analysis shows that North America region accounts for largest market share in business process management market owing to growing adoption of business process management solution by enterprises in BFSI sector. Wide adoption of business process management solution in human resource and healthcare is boosting the market in the region. Asia-Pacific region is expected to be one of the fastest growing market owing to increase adoption of cloud based business process management solutions by enterprises. In Asia-Pacific region countries such as China, India, South Korea and Japan will be generating high revenue in business process management market.
Market Research Analysis:
The Business Process Management Market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve business workflow in organizations. Changing healthcare regulation, that requires changes in documents and financial transaction is driving the market in the region. According to the study, the business process management market will remain steady in Europe region.
Asia-Pacific market is estimated to be one of the fastest growing market as enterprises are continuously investing into research and development of business process management market. Increasing IT landscape is boosting the market in the region. The region is witnessing high adoption of business process management software by enterprises. Developing countries such as India and China are adopting business process management software at a large scale owing to increasing IT infrastructure, digitization and robust industrialization that is boosting the market in the region. By vertical segment, BFSI and retail sector is driving the business process management market. The region is witnessing high growth in business process management market due to growing technological advancement in cloud, analytics and mobile technologies.
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 Business Process Management Market, By Solution
Table 2 Business Process Management Market, By Service
List of Figures
Figure 1 Research Type
Figure 2 Business Process Management Market: By Solution (%)
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