Business Process Management Market: The Opportunities for Innovation and Value Creation in Different Industries

The size of the global business process management market 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 impact of COVID-19 on the world has been unprecedented and staggering, with business process management solutions and services experiencing a surge in demand during the pandemic in every region. A steady rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The market is booming as businesses realize how important it is to digitize their operations in order to meet their objectives and improve productivity, scalability, and customer satisfaction across a variety of industry verticals. During the forecast period, the BPM is anticipated to grow due to the soaring demand for process automation. Furthermore, the market is anticipated to expand as a result of the growing adoption of cloud-based process automation tools. As an illustration, Signavio reported a growth in revenue of 70.0% in 2019 due to customers' preference for cloud-based subscription models of process management over on-premise deployment.

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DEMANDING INDUSTRY PLAYERS

A number of market players, including Appian Corporation, IBM Corporation, Kissflow, Laserfiche, Logix, Inc., and Fujitsu Ltd., are fusing BPM solutions with cutting-edge technologies like AI and machine learning. Businesses can 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.

The companies that follow are a few of the major businesses 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)
• Opentext, Inc. (Waterloo, Canada)
• Infosys Ltd. (Bengaluru, India)
• SourceCode Technology Holdings, Inc. (Washington, United States)
• Nintex Platform (Washington, United States)
• Oracle Corporation (Texas, United States)
• ProcessMaker. (North Carolina, United States)
• Quick Base (Massachusetts, United States)
• Red Hat, Inc. (North Carolina, United States)

The "Business Process Management Market Report 2030" from Fortune Business Insights is an in-depth overview of the market that covers over 60 geographies and provides high-level market segmentation for each one. The market in each geography is examined, along with market size by region and country, in the section on regional and national breakdowns. Additionally, it assesses the market's past and anticipated growth and highlights important trends and corporate expansion tactics.

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SCOPE AND SEGMENTATION ASSOCIATED WITH THE REPORT

By Functionality: 

• Accounting & Finance
• Sales & Marketing
• Human Resource
• Supply Chain Management
• Operations Management & Support
• Others (Customer Management, Etc.)

By Industry: 

• BFSI
• IT & Telecommunication
• Healthcare
• Manufacturing
• Others (Government, Media & Entertainment)

By Region

• (The United States and Canada)
• Europe (the United Kingdom, Germany, France, Italy, and the rest of the continent)
• Asia-Pacific (including Southeast Asia, China, India, Japan, and the rest of the region)
• Latin America (including Brazil, Mexico, and the remainder of the region)
• South Africa, the Gulf Cooperation Council, and the rest of the Middle East and Africa

The study examines several crucial elements to comprehend the market, such as the most recent market dynamics, growth potential, and development trends, as well as market challenges, development threats, and risk factors. The information is easy to understand thanks to this comprehensive market overview. In addition to offering both short- and long-term market forecasts, the study also provides an analytical stance on the pertinent global market sector.

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What insights does the Business Process Management Market report provide to readers?

• Business Process Management Market Fragmentation Based on Product Type, End User, and Region
• Comprehensive assessment of upstream starting materials, downstream demand, and the present market landscape.
• Collaborations, R&D projects, acquisitions, and product launches of each Business Process Management Market player
• The various rules governments have placed on using the Business Process Management Market are described in detail. 

The inspirations for investing in this report

• The research provides a detailed market overview by defining, describing, and classifying it.
• The study includes the SWOT analysis and business plans of each vendor in the industry.
• The report provides in-depth analyses of current market trends, trend forecasts, and growth drivers.
• The study thoroughly analyzes the business's competitive landscape and significant market strategies.

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