Business Process Management Market 2019, Global Industry Analysis, Size, Share, Growth, Trends and Forecast - 2024

A New Market Study, titled “Business Process Management Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

PUNE, MARKETERSMEDIA, INDIA, November 4, 2019 /EINPresswire.com/ -- Summary

A New Market Study, titled “Business Process Management Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

This report provides in depth study of “Business Process Management Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Business Process Management Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

This market report offers a comprehensive analysis of the global Business Process Management market. This report focused on Business Process Management market past and present growth globally. Global research on Global Business Process Management Industry presents a market overview, product details, classification, market concentration, and maturity study. The market value and growth rate from 2019-2025 along with industry size estimates are explained.

The global Business Process Management (BPM) market stands at USD 6.96 Billion in 2016, and is expected to grow at a CAGR of 13.52% during 2016-2021 to reach USD 14.89 Billion by 2021. The Business Process Management market is showing rapid growth.

Key manufacturers are included based on company profile, sales data and product specifications etc.:
IBM Corp.
Ricoh
Microsoft Corp.
Oracle Corp
SAPSE
TIBCO Software
WebMethodsI
Appian Corp.
360 Group
BizFlow Corp
TIBCO Software
EMC Corp.
Pegasystems
Inc.
Ultimus

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Market Overview
Business Process Management (BPM) is how an organization devises, edits, and evaluates the predictable business processes that constitute the core of its operation. Each department in an organization is responsible for transforming some raw material or data into something valuable and useful. Each of these departments is bestowed with a dozen or more core processes to handle. With Business Process Management, an organization can take a step back and view all of these processes individually and in totality. It does a postmortem of the current state of affairs and analyzes key areas of improvement to form a more efficient and productive organization.

When an organization is run with proper planning or management processes in place, poor business processes become an inevitable phenomenon, and it ultimately impacts the top-level management along with the individuals. The global business process management market is undergoing tremendous growth in recent times for the sheer importance of the function in an organization. The market reached a mark of USD 6.96 billion in 2016. Moreover, it is projected to grow at a CAGR of 13.52 percent during 2016-2021 to hit USD 14.89 billion by 2021.

At the first stage of business process management, an individual may go through chaotic business processes, noticing only one side of them, from start to end. This can lead to a considerable waste of time, more mistakes, a lack of motivation among employees, and keep data out of the loop. So, it becomes essential for organizations of all nature and sizes to have a business process management strategy in place for achieving optimal operations. In fact, the importance is felt across global organizations, which are now increasingly investing in business process management solutions, thereby driving the growth of the market.

Segmentation
The segmentation of the global business process management market is based on competitors, product type, application, and region. Under competitor-based segmentation, the global business process management market includes some of the prominent industry players. This segment is arrived at after profiling key developments, sales and profit margin, financial details, SWOT analysis, and marketing strategies of the companies. The product-type segmentation includes automation, content and document management, process modelling, and monitoring and optimization. The key application-based segments include the use of business process management in BFSI, retail, IT & Telecom, healthcare, manufacturing, and Government & Defense. Lastly, the geographic segmentation of the global business process management market includes regions like North America, South America, Asia & Pacific, Europe, and MEA (the Middle East, and Africa).

Regional overview
The rising demand for efficient software to support various business operations and the presence of major BPM solutions providers is driving the growth of the business process management market in the North America region. Countries such as the US and Canada contributes a significant amount to the revenue of the business process management market in the region. The Asia-Pacific region is also projected to be one of the key players in the business process management market due to the enormous investments made by enterprises here to boost business efficiency and productivity.

Industry news
Looking at the growth numbers and the rising expenditure on BPM software solutions by organizations, it becomes evident that the business process management market is undergoing rapid growth. At the same time, the market is favorable for both established players and newcomers, given the fact that demand for these solutions is only on the rise.

Major Key Points in Table of Content
1 Global Market Overview

2 Regional Market

3 Key Manufacturers

4 Major Application

5 Market by Type

6 ConclusionFig Global Business Process Management Market Size and CAGR 2013-2018 (Million USD)

Continued....

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