Global Business Process Management Market (2021-2026) by Component, Deployment, Function, Organization Type, Application, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis
The Global Business Process Management Market is estimated to be USD 9.3 Bn in 2021 and is expected to reach USD 13.9 Bn by 2026, growing at a CAGR of 8.5%.
The increasing automation and digitization of business processes have propelled the market growth. In addition, business process management (BPM) guarantees the organizations comply with the government standards and are updated as per the law. The BPM significantly reduces cost, gives high returns, also provides potential to improve the process efficiency. However, the resistance to adopting the BPM solution due to functional silo culture, which acts as a barrier to improving the business process in some organizations, is anticipated to hinder the market's growth.
The increasing number of SMEs adopting BPM to enhance operational efficiency is likely to create opportunities for the BPM market. Advances in cloud computing and big data offering are expected to register substantial growth in the near future.
The Global Business Process Management Market is segmented further based on Component, Deployment, Function, Organization Type, Application, and Geography.
By Component, the market is classified into Platform and Solution & Services. Amongst the two, the Platform segment is estimated to hold the highest market share during the forecast period.
By Deployment, the market is classified as Cloud And On-Premise. Amongst the two, the cloud segment is estimated to hold the highest market share during the forecast period.
By Function, the market is classified as Human Resource Management, Procurement and Supply Chain Management, Sales and Marketing, Accounting and Finance, Customer Service Support, and Others. Amongst all, the Accounting and Finance segment is estimated to hold the highest market share during the forecast period.
By Organization Type, the market is classified as Large Enterprises and Small and Medium-Sized Enterprises. Amongst the two, the Large Enterprises segment is estimated to hold the highest market share during the forecast period.
By Application, the market is classified as Banking, Financial Services, and Insurance, Information Technology, Telecommunication, Retail & Consumer Goods, Manufacturing, Healthcare & Life Sciences, and Other Industries. Amongst all, the Banking, Financial Services, and Insurance segment is estimated to hold the highest market share during the forecast period.
By Geography, North America is projected to lead the market.
1. Rocket Software has acquired ASG Technologies to boost infrastructure management tools – 12th April 2021
2. Signavio had launched a specific Business transformation suite toward the insurance industry, mainly focusing on eliminating repetitive work, reducing human error, also detecting non-compliant behavior. This is further anticipated to optimize existing processes in preparation for RPA implementation at scale – 12th August 2020
3. Appian Corporation led an Integration partnership with box, a cloud content management platform. The activity resorted to making enterprise collaboration more efficient, secure, as well as valuable. In addition, the former's low-code automation platform could be integrated with the box platform to access a wide variety of document-centric use cases in minutes with Appian's no-code plug-in connector – 13th May 2020
Some of the companies covered in this report are IBM Corporation, Oracle Corporation, Pegasystems Inc, Opentext Corporation, Fujitsu Ltd, Appian Corporation, etc
IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Business Process Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence's Proprietary competitive positioning tool.
A complete analysis of the market, including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
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