What is the global market size of Business Process Management Market?

Business Process Management Market size was valued at USD 12.71 billion in 2021 and is poised to grow from USD 15.25 billion in 2022 to USD 54.72 billion by 2030, at a CAGR of 20.02% during the forecast period (2023-2030).

Who are the key vendors in the Global Business Process Management Market?

The leading companies employ a number of inorganic growth strategies, such as collaborations, customary mergers, and acquisitions, to increase the scope of their product offering. 'IBM Corporation (USA)', 'Oracle Corporation (USA)', 'Pegasystems Inc. (USA)', 'Software AG (Germany)', 'Appian Corporation (USA)', 'OpenText Corporation (Canada)', 'Newgen Software Technologies Limited (India)', 'Tibco Software Inc. (USA)', 'Fujitsu Limited (Japan)', 'SAP SE (Germany)', 'Nintex Global Limited (USA)', 'K2 Software Inc. (USA)', 'Bizagi Limited (UK)', 'Bonitasoft SA (France)', 'Red Hat Inc. (USA)', 'BP Logix Inc. (USA)', 'Genpact Limited (USA)', 'AgilePoint Inc. (USA)', 'AuraPortal (Spain)', 'Ultimus Inc. (USA)', 'Creatio LLC (USA)', 'Kissflow Inc. (USA)'

What is the key driver of Global Business Process Management Market?

To sustain business stability in the face of the change, it is imperative to be ready and responsive. Being nimble is essential when implementing business process management systems. Businesses might stop operations when a problem is found and look into business process management solutions. With their guidance, we analyse how the problem has affected the process before restarting it. Additionally, combining AI and ML technologies would help market participants manage business processes, accelerating industry growth.

What is the key market trend for Global Business Process Management Market?

Integration of Automation and Artificial Intelligence (AI) Technologies: The incorporation of automation and AI technologies into business process management solutions is an important development. Businesses are rapidly implementing BPM software that includes AI capabilities such as machine learning, natural language processing, and robotic process automation. These following technologies improve process efficiency, eliminate errors, and allow for intelligent decision making, and resulting in increased production and cost savings.

Which region accounted for the largest share in Global Business Process Management Market?

In 2022, more than 35% of the market belonged to North America. The quick adoption of cutting-edge technology, the fact that this region is home to the greatest economy in the world, and the existence of significant businesses like Appian Corporation, Genpact, and International Business Machine Corporation, among others, are all factors that have contributed to its success. According to the most recent data made available by the US Census Bureau, there are about 6.1 million employer companies in the US. The country's numerous enterprises have also made it possible for BPM to be widely used, which has helped the North America area to expand.

Business Process Management Companies

Business Process Management Market Competitive Landscape

Business Process Management Market Top Player’s Company Profiles

Pegasystems (US)
Appian (US)
IBM (US)
Oracle (US)
Software AG (Germany)
Nintex (Australia)
OpenText (Canada)
Genpact (US)
Newgen Software (India)
TIBCO (US)
Bizagi (UK)
ProcessMaker (US)
Creatio (US)
AgilePoint (US)
BP Logix (US)
K2 (US)
Kissflow (India)
Bonitasoft (France)
Kofax (US)
AuraPortal (Spain)

Business Process Management Market

FAQs

Global Business Process Management Market size was valued at USD 9.20 billion in 2022 and is poised to grow from USD 10.16 billion in 2023 to USD 22.41 billion by 2031, growing at a CAGR of 10.40% during the forecast period (2024-2031).

Industry players such as Appian Corporation, IBM Corporation, Kissflow, Laserfiche, Logix, Inc., and Fujitsu Ltd. are integrating innovative technologies such as AI and ML with BPM systems. Using ML-based solutions, organizations can also streamline operations and make more informed choices. The high competition in the industry is further compelling service providers to focus on acquisition methods to fortify their positions. 'Pegasystems (US) ', 'Appian (US) ', 'IBM (US) ', 'Oracle (US) ', 'Software AG (Germany) ', 'Nintex (Australia) ', 'OpenText (Canada) ', 'Genpact (US) ', 'Newgen Software (India) ', 'TIBCO (US) ', 'Bizagi (UK) ', 'ProcessMaker (US) ', 'Creatio (US) ', 'AgilePoint (US) ', 'BP Logix (US) ', 'K2 (US) ', 'Kissflow (India) ', 'Bonitasoft (France) ', 'Kofax (US) ', 'AuraPortal (Spain)'

There is an increasingly growing need for cost-cutting and operational efficiency resulting in the adoption of business process management solutions. Productivity enhancers, reducers of manual errors, and those promoting simplification of processes have witnessed an increase in adoption by the business fraternity as far as business automation technologies are concerned. Increasingly rising industry competition has resulted in an increasing demand for BPM technologies that can automate business processes efficiently enough. As a result, the tremendous growth prospects for the BPM market have been fueled by such demands.

Shift Toward Cloud-Based BPM Solutions: On-premises BPM solutions are more expensive and less flexible than cloud BPM solutions. Still, these are much cheaper and can scale according to the needs of an organization as its usage increases. It has lower infrastructure costs as one can directly procure the services from the cloud provider without having to build or lease new data centers. Due to all these reasons, cloud deployment turns out to be organizations' preference for BPM applications. Due to this trend, cloud-based choices are now gaining the attention of companies trying to increase efficiency without making significant upfront expenditures. This is because cloud-based solutions are put into action rapidly and respond more keenly to changes in the market.

The high adoption rate of cutting-edge technology in corporate operations had resulted in the market of business process management witnessing its largest revenue generation in 2023 in the North American market. Business process automation software has given rise to market dynamics in the US that have begun to help businesses reduce inefficiency and simplify their operations. In addition, innovation and development of cutting-edge process modeling systems are promoted by leaders of market business in this region. While supporting best practices and industry standards besides offering strong BPM solutions, these well-established businesses help North America improve its position as a BPM market leader.

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What is the global market size of Business Process Management Market?

Who are the key vendors in the Business Process Management Market?

What is the key driver of Business Process Management Market?

What is the key market trend for Business Process Management Market?

Which region accounted for the largest share in Business Process Management Market?

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