Global Smart Process Application Market 2018-2022
About Smart Process Application
Smart process applications are a set of applications which are process-centric and automatize information exchange using a collaborative platform within enterprise content management applications.
Technavio’s analysts forecast the Global Smart Process Application Market to grow at a CAGR of 15.24% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart process application market. To calculate the market size, the report considers the adoption of SPAs in manufacturing, BFSI, government, healthcare, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Process Application Market 2018-2022
Technavio recognizes the following companies as the key players in the global smart process application market: Dell Technologies, IBM, JDA Software, OpenText, SAP, and Verint Systems.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the growing dependence on the Internet.” The increasing penetration rate of the Internet is enabling people to share their personal information on the Internet.
According to the report, one driver influencing this market is the digital transformation in various sectors. Digital transformation in industry verticals such as BFSI and manufacturing is driving the smart process application market.
Further, the report states that one challenge affecting this market is the high implementation and maintenance costs. The high price of deploying on-premise smart process application software is one of the major challenges in the market for SMEs in developing economies such as China and India.