There has been an increasing incorporation of Business Process Management (BPM) services by end users as these services have helped them to optimize their business processes and enhance the efficiency of its operations. BPM services enable enterprises to automate their workflows which results in better interaction between human and processes resulting in efficient business operations.
Customer-centric approach, automation, and business agility are the burning issues for the Business Process Management Market, whereas business agility, cost efficiency, Return on Investment (ROI) from BPM suites, compliance and business rules management, and automated governance are expected to drive the BPM market. These factors need to be instilled in organizations and regions with low penetration in the BPM market. Low penetration in some sectors and regions are mainly due to restraining factors such as inadequate knowledge and misconception about BPM solutions. In addition, resistance to implement BPM suites by IT staff in organizations are another restraining factor.
One of the major factors that have helped the Business Process Management Market to grow is the potential cost savings that an enterprise can incur due to adoption of these solutions. Enterprises are looking for solutions that are able to reduce their operational expenses. BPM solutions not only save cost but also help enterprises to deal with the changes in the operating environment without affecting the profit margins of the company. These factors have greatly contributed towards the growth of BPM market and have emerged as one of the major drivers for the BPM market. The factors that are restraining the growth of the market are information stored in silos, and BPM viewed as an IT function.
Integration of new technologies and managing cultural changes are the major challenges. Moreover, the daunting task of BPM professionals and leaders, to establish a framework with consistent practices, stable principles, and acknowledged measurement techniques pose a significant challenge. Thus, an established governance system to manage and outlay set road map is essential for Business Process Management Market to keep on evolving companies such as Appian, EMC Corporation, Fujitsu, Hyland Software, IBM, OpenText, Oracle, Pegasystem, Software AG, and TIBCO Software are some of the leading players in this market.
This research report provides an overview, market study, and segmentation based on solutions, service delivery modes, end users, regions, and verticals for the Business Process Management Market. Furthermore, the report gives detailed analysis on global trends and forecasts, competitive landscape, and analysis on Venture Capital (VC) and Mergers and Acquisitions (M&A) related to the BPM market. It also forecasts volumes and revenues and analyzes trends in each of the submarkets.
On the basis of solutions:
- Process Modeling
- Content and document management
- Monitoring and optimizing
On the basis of deployment mode:
On the basis of end user (company size):
- Small and medium businesses (SMBs)
- Large enterprises
On the basis of vertical:
- Banking, Financial Services, and Insurance (BFSI)
- Consumer goods and retail
- Government and defense
- IT and telecom
- Transportation and logistics
On the basis of region:
- North America (NA)
- Middle East and Africa (MEA)
- Asia-Pacific (APAC)
- Latin America (LA)
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