Business Process Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global business process management (BPM) market reached a value of US$ 9.2 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 20.3 Billion by 2027, exhibiting a CAGR of 14.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

BPM refers to a group of processes that are employed to improve the overall performance of an organization. These solutions usually manage and optimize process modeling, automation, control and execution of the business flow while aligning operational tasks with organizational goals. They also monitor the functioning of human resources, marketing, operations and customer relationship management (CRM). As a result, the manager can gain direct control over chaotic processes, achieve complex organization goals efficiently and closely monitor individual activities through the workflow.

The increasing integration of BPM with the Internet of Things (IoT) is one of the key factors driving the growth of the market. IoT-enabled BPM solutions allow businesses to record and analyze large amounts of data to make efficient decisions. Furthermore, the emerging trend of automation across industries is another factor providing a boost to the market growth. Organizations are increasingly focusing on higher productivity, cost-efficiency, data security and risk management, which is resulting in the widespread adoption of BPM solutions that automate and centralize business processes. Additionally, various technological advancements, such as the introduction of modern cloud-based BPM software and solutions, are also favoring the market growth. Cloud BPM delivers the solutions through the platform-as-a-service model and enables businesses to create workflows on a server without using an in-house storage device. Other factors, including rapid urbanization, extensive research and development (R&D) activities and thriving industrial verticals, such as information technology (IT), defense, and banking, financial services, and insurance (BFSI), are projected to drive the market in the upcoming years.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global business process management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on deployment type, component, business function, organization size and vertical.

Breakup by Deployment Type:
On-Premises
Cloud

Breakup by Component:
IT Solution
Process Improvement
Automation
Content and Document Management
Integration
Monitoring and Optimization
IT Service
System Integration
Consulting
Training and Education

Breakup by Business Function:
Human Resource
Accounting and Finance
Sales and Marketing
Manufacturing
Supply Chain Management
Operation and Support
Others

Breakup by Organization Size:
SMEs
Large Enterprises

Breakup by Vertical:
Government & Defense
BFSI
IT & Telecom
Healthcare
Retail
Manufacturing
Others

Breakup by Region:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Adobe Systems Inc., Appian Corporation, Fabasoft AG, Hewlett-Packard, IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, Pegasystems Inc., SAP SE, Software AG, TIBCO Software and Ultimus Inc., etc.

This latest report provides a deep insight into the global business process management (BPM) market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the business process management market in any manner.

Key Questions Answered in This Report:

How has the global business process management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global business process management market?
What are the key regional markets?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the business function?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global business process management market and who are the key players?
What is the degree of competition in the market?