According to the latest report by IMARC Group titled, “ Business Process Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025 ”, the market is expected to grow at a CAGR of around 10% during 2020- 2025.
Business process management (BPM) is an activity or set of activities that assist in improving different processes of an organization by analyzing, modeling how they work in different scenarios, executing improvements, monitoring improved processes and continuously optimizing them. The objective of companies engaged in BPM is to continuously strive and create a more efficient organization, which is more capable of delivering their end products or services. Besides this, it helps organizations in obeying rules and regulations, such as labor laws and other regulatory compliances, that are fixed by the government.
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Market Trends
The integration of BPM programs with the Internet of Thing (IoT) systems, in confluence with the rising trend of automation, represents one of the major factors propelling the global business process management market growth. These solutions aid firms in recording and analyzing significant amounts of data for efficient decision making. Further, organizations nowadays are focusing on improving their productivity, cost-efficiency, data security and risk management, which is expected to boost the overall sales of BPM solutions across the globe.
The report has segmented the market on the basis of Deployment Type , Application, Business Function, Organization Size, Vertical and Region.
Market Breakup by Deployment Type
1. On-Premises
2. Cloud
Market Breakup by Application
1. IT Solution
2. IT Service
Market Breakup by Business Function
1. Human Resource
2. Accounting and Finance
3. Sales and Marketing
4. Manufacturing
5. Supply Chain Management
6. Operation and Support
7. Others
Market Breakup by Organization Size
1. SMEs
2. Large Enterprises
Market Breakup by Vertical
1. Government & Defense
2. BFSI
3. IT & Telecom
4. Healthcare
5. Retail
6. Manufacturing
7. Others
Market Breakup by Region
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa
Competitive Landscape
The report has also analyzed the competitive landscape of the market with some of the key players being Adobe Systems Inc., Appian Corporation, Fabasoft AG, Hewlett-Packard, IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Pegasystems Inc., Red Hat Software, SAP SE, Software AG, TIBCO Software, Ultimus Inc., etc.
Browse full report: https://www.imarcgroup.com/business-process-management-market
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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