The global business process management (BPM) market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 7% during the forecast period (2021-2026). 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.
IMARC Group’s 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.
Breakup by Deployment Type:
Breakup by Component:
Content and Document Management
Monitoring and Optimization
Training and Education
Breakup by Business Function:
Accounting and Finance
Sales and Marketing
Supply Chain Management
Operation and Support
Breakup by Organization Size:
Breakup by Vertical:
Government & Defense
IT & Telecom
Breakup by Region:
Middle East and Africa
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, Ultimus Inc., etc.
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?