Business Process Management (BPM) Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment Type (On-Premise, Cloud), By Enterprise Size (Large Enterprises, SME’s), By Functionality (Accounting & Finance, Sales & Marketing, Human Resource, Supply Chain Management, Operation & Support), By Industry (BFSI, IT & Telecom, Healthcare, Manufacturing, Others) and Regional Forecast, 2019-2026

The global business process management (BPM) market size stood at USD 8.63 billion in 2018 and is projected to reach USD 21.41 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period.

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The BPM market is booming with the growing necessity among enterprises to digitize the business processes in order to achieve business goals, customer satisfaction, improved scalability, and productivity in various industry verticals. This growing demand for process automation is expected to boost the BPM market during the forecast period. Furthermore, the rising adoption of cloud-based process automation tools is flourishing the market growth. For instance, in 2019, Signavio reported 70.0% growth in its revenue in the last twelve months due to favoring cloud based subscription model of process management over on-premise deployment by the customers.

MARKET TRENDS

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Growing adoption of Cloud-based Business Applications to Attain Better Efficiency and Cost-effective Model

The increasing trend of cloud-based business applications in order to achieve better efficiency, cost-effective model, and availability as per the subscriber’s choice has accelerated the demand for process management system across all the industries. A cloud-based process automation solution offers the option to transform and enhance processes proactively, which is pressing the demand for business process management software among the industries. Using cloud platforms, business analysts and IT developers can easily integrate process designer and integration designer solutions in business processes. The cloud platform also facilitates BPM administration. Subsequently, minimized error rates, data accessibility at any time, and anywhere, and security aspects are the basic advantages of the cloud platform, which improve the adoption of cloud based business process management. Additionally, cloud BPM infrastructure enhances productivity, decision making, and requires minimal setup and maintenance, which is flourishing the market of cloud-based BPM platform.

MARKET DRIVERS

Growing Digitization of Business Processes to Heighten Productivity & Optimize Operations

Business process management is becoming popular day by day to attain the desired business goals and optimize the operations. Improved productivity with minimum time bounds have led industries towards the automation of business processes. Mature approaches of organizations towards digitization of businesses to enhance efficiency, versatility, and customer satisfaction are boosting this market. Moreover, automation in business processes helps to reduce manual errors, while developed systems also offer customized, as well as occasional BPM systems. Such flexible choices of the BPM software would drive the growth of the market in a sophisticated way. In March 2020, the University of Queensland, located in Australia announced to automate the university’s business processes by opting Appian’s low-code cloud platform. This mechanization will fulfill the need for a student and staff- focused solution along with reduction of operational costs for business processes such as audit trail compliant processes, automated and standardized processes, and process visibility.

Integration of BPM with Artificial Intelligence (AI) to Aid Growth

The concept of integrating business process management with artificial intelligence (AI) along with cloud capabilities is primarily driving the market. The evolving concept of a BPM platform embeds enriched processes, such as message-oriented middleware, cloud capabilities, business activity monitoring, internet of things (IoT), AI integration, and more. For instance, AI based business process management solutions are adopted by the banking sector for automating processes, such as sales analysis, contract management, document generation, and report generation.

Evolution of BPM System as a Low-code Development Platform to Propel Growth

To reduce architectural complexity and to achieve faster application delivery, traditional BPM platforms are enhanced in terms of application development. This orientation is consistent with the traditional business process management environments, which typically leverage the more declarative approach of process model definition. Initially, application development was carried out through hand-coding which involves complex procedural language and command-line programming. However, a low code application development platform uses GUI-based configurable tools to change the way BPM services are deployed. Companies, such as Zoho Creator, Kissflow, Tallyfy, OpenText and many more, offer low code development platform solution. The low code development platform offers flexibility to the process management system with the instant deployment of customized applications. Improving speed, cost-effectiveness, reduced operational latency, and reduced designing complexity of BPM led companies to offer business process management software as a low code platform. In December 2019, Appian launched its low-code application development platform to help businesses with process optimization. The latest version of Appian’s platform provides advance AI capabilities with connected systems architecture, DevOps to simplify the development, deployment, management, and modification of Appian applications. In September 2018, Salesforce.com, Inc. developed a low code platform which is used for faster collaboration of processes to build applications.

MARKET RESTRAINT

Lack of Awareness about Necessity of Process Management across Industries May Hamper Growth

As many of the industry verticals are unable to understand the exact concept of process management, they remain unaware of the necessities as well as benefits offered by the system. Key players are trying to clarify the compensations and needs of the BPM system to the customers through marketing and advertising. Kissflow, Inc. published an article in January 2019 about the advantageous features of the process management systems, where the company mentioned about unawareness of industries towards process management.

SEGMENTATION

By Component Analysis

Services Segment is Estimated to Hold High Market Share in the Upcoming Period

Based on component, the market is segmented into a solution/platform and services.

The software-as-a-service (SaaS) model of BPM for dispensing applications has been in place from last three decades, according to an article published by Kissflow, Inc. Most of the business process management market players are offering cloud infrastructure, which itself contains a service-based architecture. These players include Appian, IBM Corporation, Accenture Plc, Infosys Ltd. They are seen to generate maximum revenue with process management services. Subsequently, the rising demand for business process management services is anticipated to supplement the market growth.

By Deployment Analysis

Cloud-based Solution to Experience High Growth during the Forecast Period

Based on deployment type, the business process management software market is segregated into on-premise & cloud BPM.

The popularity of the software-as-a-service (SaaS) model is becoming popular day by day. Minimal impact on internal resources, low monthly subscription cost, reduced overhead investment, and many more advantageous factors of cloud-based BPM solutions are projected to drive the market growth. Sometimes, organizations conduct their development and testing procedures on public cloud whereas, due to security concerns, enterprises are often more inclined towards the on-premise deployment of business process management software. Due to this, on-premise process management model is also expected to be adopted moderately by the enterprises.

By Enterprise Size Analysis

SME’s are expected to Showcase Strong Improvement in the BPM Solution Adoption

Based on enterprise size, the market is segmented into large enterprises and small & medium-sized enterprises (SME’s).

Most of the large organizations have already embraced the business process management solution as it became a necessity to manage large amounts of organizational data and processes. The maturing approach of small and medium-sized enterprises to automate the business procedure and improve productivity is estimated to enhance the adoption of BPM suite and solutions. Growing demand for flexibility in times of emergencies and increased response time to market changes is pushing the SMEs towards the implementation of process management tools.

By Functionality Analysis

Accounting & Finance Lingers to be the Largest Shareholder in Term of the Functionality

Based on functionality, the BPM software market is further categorized into accounting & finance, sales & marketing, operation & support, human resource, and supply chain management.

According to a global survey carried out by NASSCOM in 2017, finance & accounting, along with procurement, will demonstrate persistent growth in the adoption of the BPM software. The capability to enhance the speed of supply chain networks by providing intelligent automation encourages consumers to adopt the BPM system for supply chain management purposes.  Business process management is also showing healthy adoption to improve HR operations by centralizing human resources solutions that deliver a self-service portal for employee requests. This also provides a unified view of each employee and control for all aspects of the HR processes. Similarly, it also automates advertising and marketing processes to augment sales, which is again becoming a major adoption factor. Capabilities of the business process management system to expand operational agility, improve worker efficiency & satisfaction, and optimization of critical business processes encourages adoption process management for the operation & support functionality.

By Industry Analysis

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Healthcare Industry is Projected to Experience a Healthy Growth Rate

Healthcare organizations are progressively implementing process management not only as a solution specific to immediate process improvement objective, but also as a platform that gives them the ability to challenge diverse process improvement factors. Some of these factors include increased quality of service delivery, improved revenue cycle management, extended value of core healthcare systems, among others. It is estimated to enhance BPM adoption in the healthcare industry. Further, the banking and financial sector is seeing acceptance of the business process management tools to support the emerging developments, such as mobile banking, checkbook, internet banking, and more. The BPM platform is used by banking industries to manage and support three main processes, such as procurement, contracting, and filing lawsuits. Banks and financial services use analytics on the credit histories of small businesses and their owners, which further supports the adoption of BPM suits. In case of IT and telecom industry, adoption of this software is primarily associated with growing emphasize on better customer service, operational excellence, and business visibility. Apart from this, the manufacturing and processing plants initiate implementation of process management systems to manage assets, projects, permit, field services, and for turnaround planning and execution. Other industries, such as retail, public, and many more are also directed towards the digital transformation era with the adoption of business process management platforms.

REGIONAL ANALYSIS

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Geographically, the business process management market is segmented across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries.

North America business process management market holds the utmost share in the market due to the high penetration of advance technologies among the operations. As business process automation software adoption is increasing in the U.S., it is creating a positive impact on the market size. Moreover, the presence of market leaders in North America is also contributing to the significant development of the process automation platforms. The U.S. is also demanding the highest BPM services, which is flourishing this market growth across the region.

Whilst, Asia-Pacific is expected to grow at an attractive rate in the forecast period, as mostly process management outsourcing services are operated within this region. India is one of the leading countries in the region, offering IT-BPM outsourcing services. China and India are the significantly emerging countries of the Asian economy, which are projected to supplement the BPM market growth during the forecast period.

Strong initiatives for business digitalization across GCC countries surge opportunities in market growth across the region. Additionally, strategical mergers and acquisitions done by the market players are expected to expand the market in the Middle East & Africa. In addition, increasing investments in the field of digital transformation within Brazil would direct Latin America to raise acceptance of process management systems.

Overall, the growing necessity to digitize the business processes to achieve business alertness is anticipated to boost the adoption of the business process management platforms across the globe.

KEY INDUSTRY PLAYERS

Companies Are Focusing on Collaboration with Advance Technology Vendors to Expand Business Portfolio

Key players in the market are proactively strengthening their market position by collaborating with other players who are introducing innovative technologies in the market. For instance, Infosys Ltd. formed a strategic partnership with Eishtec Ltd. in 2019, which transferred Eishtec’s business into Infosys BPM. This will enable Infosys to serve its clients within the European region better. Key industry players are focusing on the development of business process management as a low code platform in order to reduce architectural complexity.

List of Key Companies Profiled:

• Appian Corporation


• IBM Corporation


• Kissflow


• Laserfiche


• BP Logix, Inc.


• Fujitsu Ltd.


• Infosys Ltd.


• SourceCode Technology Holdings, Inc.


• Ninox


• Nintex Platform


• Opentext, Inc.


• Oracle Corporation


• Pegasystems, Inc.


• ProcessMaker.


• Quick Base


• Red Hat, Inc.


• Scoro Software


• Software AG


• Tibco Software


• Ultimus, Inc.


• SS&C Technologies, Inc.

KEY INDUSTRY DEVELOPMENTS:

• May 2019: - SS&C Technologies, Inc. announced the advancement of the process management platform named AWD, which facilitates the ability to automate processes such as processing loans, onboarding clients, and adjusting claims natively and through integration with Robotic Process Automation (RPA) solutions. The enhancement also developed their integrated content management solution and its out-of-the-box ‘Processor Workspace’, to increase speed and accuracy.


• July 2017: - IBM Corporation collaborated with Automation Anywhere, Inc. for delivering business process management solutions that assist employees with routine, data-intensive tasks.

REPORT COVERAGE

The business process management market report provides detailed information regarding various insights into the industry. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2015 to 2026 to provide financial competency. The information gathered in the report has been taken from several primary and secondary sources.

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