Skip to main content

BPM Market Size Projected To Reach $23.04 Billion By 2024

The global business process management (BPM) market is expected to reach USD 23.04 billion by 2024, according to a new study by Grand View Research, Inc. The growth is attributed to the increasing number of benefits offered by the BPM solution, including better productivity, ease of use, flexibility, and reduction in the time to wait for customers. The growing need for the integration of key functional areas in an organization is also expected to propel demand over the next eight years. The business process management software exhibits high avenues in various application areas, especially in the IT & telecom and healthcare sectors. This may be due to its capabilities of monitoring individual processes of the entire lifecycle.

For PDF sample Copy or More Details please visit link @: http://www.grandviewresearch.com/industry-analysis/business-process-management-bpm-market

Organizations restructuring their business processes are most likely to adopt the BPM software. Several regulations, including ObamaCare and (Single Euro Payments Area) SEPA, are analyzed to significantly catapult the demand over the forecast period. Obamacare focuses on providing affordable health insurance to the U.S. citizens with the introduction of new taxes and tax breaks. The European Union introduced SEPA to simplify inter-country bank transfers. Security concerns related to the cloud-based BPM solutions are anticipated to hinder the market growth. Additionally, the lack of knowledge in order to successfully implement business process management solutions in an organization is a key challenge for this industry.

Further key findings from the study suggest:

·         The process modeling and automation solution segment dominated the BPM market in terms of revenue in 2015. This is attributed to the growing need for process improvement in manufacturing as well as a service industry.

·         The uses of the BPM solutions in the hospital management system, including bed management and patient monitoring, are anticipated to be the key factor fostering growth in the healthcare sector.

·         The cloud-based BPM solutions are expected to observe a high adoption among SMEs due to their features such as scalability offered at a very low cost. Cloud-based BPaaS providers are expected to target the healthcare sector due to the growing IT spending by hospitals and pharmaceuticals.

·         Large enterprises dominated the industry accounting for more than 60% of total market revenue share in 2015. The large share is primarily driven by the focus of the enterprise to build central functionality in order to enhance operational efficiency.

·         North America dominated the industry with more than 30% share in 2015. This is attributed to its early adoption, primarily in the government and BFSI sectors. Asia Pacific is anticipated to witness considerable growth owing to the large scale industrialization and emergence of several startups in India, China, and the ASEAN region.

·         The prominent industry participants include IBM Corp., Microsoft Corp., Oracle Corp., SAP SE, Appian Corp., and PegaSystems Inc. A strong focus on the research & development initiatives is helping solution providers to create its presence in the competitive environment. Merger & acquisition is also anticipated to be a key strategy used to diversify the developer’s competency to provide different solutions under a single roof.

To request research report sample copy with TOC please visit @: Business Process Management Market Size Report, 2024 (grandviewresearch.com)

Grand View Research has segmented the global Business Process Management (BPM) market on the basis of solution, application, deployment, end-user, and region.

 Full Press Release @: https://trendinresearchreport.wordpress.com/2020/11/27/business-process-management-market-report/

Labels:

Comments

Post a Comment

Popular posts from this blog

Welded Plate And Block Heat Exchanger Market Segments & Scope Analysis & Growth Forecast

  The global  welded plate and block heat exchanger market  size is anticipated to reach USD 1.2 billion by 2025, exhibiting a CAGR of 5.9% over the forecast period, according to a new report published by Grand View Research, Inc. The market is anticipated to be driven by the growing demand for the product in HVAC & refrigeration, power generation, and petrochemical industries, especially in emerging economies in Asia Pacific and CSA regions. Welded plate & block heat exchangers play a significant role in enhancing heat transfer efficiency of industrial machinery. Growing demand for efficient thermal management systems with low space requirements is expected to drive the demand for plate & block heat exchangers over the forecast period. Growth of industrial sectors including food & beverages, chemicals, pulp & paper, power generation, metal & mining, textiles, and oil & gas is leading to an increase in the requirement for highly-efficient...
Post a Comment
Read more

Comprehensive Analysis of the Digital Media Market: Size, Share, Growth Trends

  The global  digital media market  size is expected to reach USD 1,902.28 billion by 2030 and is anticipated to grow at a CAGR of 12.8% from 2024 to 2030, according to a new study by Grand View Research, Inc. Increasing internet penetration and rising smartphone usage have fueled the demand for digital content, further driving the market expansion. The proliferation of high-speed internet and the widespread adoption of smartphones have made digital media more accessible than ever before. In addition, the rise of social media platforms has revolutionized content consumption, providing users with personalized and engaging experiences. Moreover, advancements in artificial intelligence and machine learning are enabling content creators to produce more sophisticated and targeted media, enhancing user engagement and satisfaction. These factors are collectively propelling the market growth. Digital Media Market Report Highlights Based on content type, t...
Post a Comment
Read more

Generative AI In Agriculture Market Overview: Extensive Evaluation of Market Size, Growth Opportunities

  The global   generative AI in agriculture market   size was estimated at USD 226.2 million in 2024 and is projected to reach USD 2,158.9 million by 2033, growing at a CAGR of 28.7% from 2025 to 2033. Farmers are increasingly using generative models to predict yields, weather impacts, and input requirements. This trend supports precision agriculture by enabling scenario-based planning. The global generative AI in agriculture industry is witnessing a shift toward AI-driven crop simulation and decision-making tools. The development of specialized, accessible, and efficient AI models for agricultural advisory, yield prediction, and climate adaptation is driving growth in the generative AI in agriculture market. This indicates growing demand for localized, multilingual, and climate-resilient advisory tools, especially for smallholder farmers in emerging regions, and signals a shift from general-purpose AI to frugal, scalable solutions suited for underserved agricul...
Post a Comment
Read more