The Business Process Management (BPM) Market Size was 10.64 billion USD in 2020, and it is anticipated to increase from 11.84 billion USD in 2021 to 26.18 billion USD in 2028, with a CAGR of 12.0% from 2021 to 2028. Our analysis shows that the global market will grow significantly by 11.2% in 2020 compared to year-over-year growth between 2017 and 2019. The COVID-19 pandemic's effects have been unprecedented and staggering on the world, with business process management solutions and services experiencing a surge in demand in every region. The market's demand and expansion, which will resume to pre-pandemic levels once the pandemic is over, are what account for the steady increase in CAGR.

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Information about the report:

  • Forecast Timeframe:2021-2028
  • The starting year is 2020
  • Market Size in 2020 - USD 10.64 billion
  • The market size in 2028 will be USD 26.18 billion
  • CAGR - 12.0%
  • Segments Included: according to deployment type, application, enterprise type, sector, and geographic region

The Business Process Management (BPM) Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The total amount of money that service providers make from offering their products to customers is referred to as the market size. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.

Analyses of the worldwide Business Process Management (BPM) Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.

By Component Analysis, 

The market is split into solutions and services based on components. The services market is further divided into managed and professional categories. The solution industry held the largest market share in 2022. The rising popularity of mobile applications and the expansion of call centers will increase demand for CEM solutions. These solutions help businesses manage regular customer interactions.

By Deployment Analysis, 

The business process management (BPM) market is divided into a solution/platform and services based on components.

Market share was dominated by the BMP solution/platform segment. BPM solutions have streamlined processes that previously required human intervention in business processing, allowing employees to focus on their primary responsibilities. As a result, resource utilization has been made more effective and efficient, and a balance has been maintained between firm needs and the availability of resources to meet those needs. BPM software also provides professionals with strong tools for creating business rules that are tailored to the requirements of specific projects.

By Industry Analysis, 

The business process management market is segmented into BFSI, IT & telecommunication, healthcare, manufacturing, and others based on industry.

Healthcare organizations are increasingly implementing process management as a platform that allows them to challenge various process improvement factors as well as a solution tailored to their immediate process improvement objectives. The extended value of core healthcare systems is one of these factors, along with others like improved revenue cycle management and higher service quality. According to estimates, this will increase the use of BPM in the healthcare sector.

By Key Industry Analysis, 

BPM solutions are being integrated with cutting-edge technologies like AI, ML, and others by industry players including Appian Corporation, IBM Corporation, Kissflow, Laserfiche, Logix, Inc., and Fujitsu Ltd. Businesses may streamline operations and make wiser decisions thanks to ML-based tools. Furthermore, fierce market competition is pressuring service providers to concentrate on acquisition plans to strengthen their positions.

List of Key Companies Profiled:

  • Appian Corporation (Virginia, United States)
  • IBM Corporation (New York, United States)
  • Kissflow (Chennai, India)
  • Laserfiche (California, United States)
  • Pegasystems, Inc. (Massachusetts, United States)
  • BP Logix, Inc. (California, United States)
  • Fujitsu Ltd. (Tokyo, Japan)

By Region, 

Due to the high level of advanced technology adoption among business operations, North America is predicted to continue to dominate the global business process management market. The market is benefiting from the growing use of business process automation software in the United States. Additionally, the region's presence of industry leaders is assisting in the significant development of the platforms for process modeling.

The study report provides a thorough analysis of the “Business Process Management (BPM) Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Business Process Management (BPM) Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Business Process Management (BPM) Market industry will be able to gain the upper hand by using the study as a valuable resource.

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