The Worldwide Business Process Management Industry is Expected to Reach $13+ Billion by 2026
DUBLIN, Oct. 21, 2021 /PRNewswire/ -- The "Global Business Process Management Market (2021-2026) by Component, Function, Deployment, Organization Size, Industry Vertical, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Business Process Management Market is estimated to be USD 9.2 Bn in 2021 and is expected to reach USD 13.12 Bn by 2026, growing at a CAGR of 7.3%.
Key factors such as growing organization responsiveness for improving the business processes to increase overall business efficiencies and higher profits have led to a need for a Business Process Management (BPM) Solution. Also, other factors such as the need for real-time management of the business operations and adherence to the dynamic regulations and policies have further contributed to the growth of the BPM market.
With a rise in cloud-based deployment, there is a higher susceptibility to data theft with cybersecurity attacks. This is one of the prime restraining factors to the growth of the market. Reluctance to adopt BPM solution by middle management of an organization and lack of clarity about BPM solutions' benefits among end-users compels the market growth.
Market Dynamics
Drivers
- Growing Demand for Automation of Business Processes
- Real-Time Management of Business Processes
- Streamlined Communication across Varied Business Functions in The Organization
- Adherence to Stringent Government Regulations and Policies
Restraints
- Security Concerns owing to The Cloud Technology Adoption
Opportunities
- Increased Adoption and Dependency on Cloud Technology
- Integration of AI And Ml Technologies
- Advances in Cloud Computing and Big Data Increasing The Demand for Software-As-A-Service (Saas) Offerings
Challenges
- Barriers in Adopting Advanced Solutions over Traditional Systems
- Lack of Clarity about The Benefits of BPM Solutions
Competitive Quadrant
The report includes a 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 in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence's Proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- 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
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview 4.1 Introduction 4.2 Market Dynamics 4.2.1 Drivers 4.2.2 Restraints 4.2.3 Opportunities 4.2.4 Challenges 4.3 Trends
5 Market Analysis 5.1 Porter's Five Forces Analysis 5.2 Impact of COVID-19 5.3 Ansoff Matrix Analysis
6 Global Business Process Management Market, By Component 6.1 Introduction 6.2 Solution 6.2.1 Process Improvement 6.2.2 Automation 6.2.3 Content and Document Management 6.2.4 Integration 6.2.5 Monitoring and Optimization 6.3 Services 6.3.1 System Integration 6.3.2 Consulting 6.3.3 Training and Education
7 Global Business Process Management Market, By Function 7.1 Introduction 7.2 Human Resource Management (HRM) 7.3 Procurement and Supply Chain Management (SCM) 7.4 Sales and Marketing 7.5 Accounting and Finance 7.6 Customer Service Support 7.7 Others (Operations Management, Legal, and R&D)
8 Global Business Process Management Market, By Deployment 8.1 Introduction 8.2 Cloud 8.3 On-premises
9 Global Business Process Management Market, By Organization Size 9.1 Introduction 9.2 Small and Medium-sized Enterprises 9.3 Large enterprises
10 Global Business Process Management Market, By Industry vertical 10.1 Introduction 10.2 BFSI 10.3 IT 10.4 Telecommunication 10.5 Retail and Consumer Goods 10.6 Healthcare and Life Sciences 10.7 Others 10.8
11 Global Business Process Management Market, By Geography 11.1 Introduction 11.2 North America 11.2.1 US 11.2.2 Canada 11.2.3 Mexico 11.3 South America 11.3.1 Brazil 11.3.2 Argentina 11.4 Europe 11.4.1 UK 11.4.2 France 11.4.3 Germany 11.4.4 Italy 11.4.5 Spain 11.4.6 Rest of Europe 11.5 Asia-Pacific 11.5.1 China 11.5.2 Japan 11.5.3 India 11.5.4 Indonesia 11.5.5 Malaysia 11.5.6 South Korea 11.5.7 Australia 11.5.8 Russia 11.5.9 Rest of APAC 11.6 Rest of the World 11.6.1 Qatar 11.6.2 Saudi Arabia 11.6.3 South Africa 11.6.4 United Arab Emirates 11.6.5 Latin America
12 Competitive Landscape 12.1 Competitive Quadrant 12.2 Market Share Analysis 12.3 Competitive Scenario 12.3.1 Mergers & Acquisitions 12.3.2 Agreements, Collaborations, & Partnerships 12.3.3 New Product Launches & Enhancements 12.3.4 Investments & Fundings
13 Company Profiles 13.1 Adobe Systems 13.2 Appian Corp 13.3 Capgemini 13.4 Cognizant Technology Solutions Corp. 13.5 IBM Corp 13.6 OpenText Corp. 13.7 Oracle Corp. 13.8 Pegasystems, Inc. 13.9 Red Hat, Inc. 13.10 SAP SE 13.11 Software AG 13.12 Microsoft Corporation 13.13 EMC Corp. 13.14 Tibco Software 13.15 Appian Corp. 13.16 Ultimus Inc 13.17 Laserfische 13.18 BP lOGIX 13.19 Nintex 13.20 OpenText 13.21 Genpact 13.22 Newgen Software 13.23 ProcessMaker 13.24 Infosys Ltd
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/dsdo9k
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