"We Envision Growth Strategies Most Suited
to Your Business"

Business Process Management Market to Reach $26.18 bn by 2028; Rising Usage of Advanced Software Solutions to Drive Growth

May 04, 2021 | Information & Technology

The global business process management (BPM) market size is projected to reach USD 26.18 billion by 2028. It is set to gain impetus from the rapid inclination of consumers towards advanced BPM platforms from the conventional ones. The former provides faster application delivery and lower the architectural complexity. Fortune Business Insights™ provided this information in a recent study, titled, “Business Process Management (BPM) Market Size, Share & COVID-19 Impact Analysis, By Component (Solution/Tools/Platform, Services), By Deployment (On-Premise, Cloud), By Organization Size (Large Enterprises, Small and Medium Sized Enterprises), By Functionality (Accounting & Finance, Sales & Marketing, Human Resource, Supply Chain Management, Operations Management & Support, Others), By Industry (BFSI, IT & Telecommunication, Healthcare, Manufacturing, and Others), and Regional Forecast, 2021-2028.” As per the study, the market stood at USD 10.64 billion in 2020. However, it is set to exhibit a CAGR of 12.0% during the forecast period between 2021 to 2028.


Appian Collaborates with Celonis to Speed up Business Process Transformation


In January 2020, Appian Corporation, a cloud computing company based in Virginia, announced that it has recently joined hands with Celonis GmbH, a reputed software provider headquartered in Germany. The main aim of this partnership is to augment the transformation of digital business processes and improve the process persistently for joint consumers. It would also help Appian in uniting its low-code automation platform with the process mining technology of Celion. This blend of development process and speed management would make Appian approximately 20 times faster to change and create high-impact business applications.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/business-process-management-bpm-market-102639


Increasing Adoption of Digitization to Favor Growth


BPM software solutions are gaining more and more popularity on a regular basis across the globe as they are aiding in optimizing all the operations and achieving the required business goals. Nowadays, industries are looking for solutions that would be able to help them in competing operations in a minimal time period and enhance productivity. Therefore, they are shifting towards automation at a fast pace. They are digitizing their businesses to refine consumer satisfaction, versatility, and efficiency.


Apart from that, automation aids in delivering occasional and customized BPM systems, as well as in reducing manual errors. All these factors are expected to accelerate the business process management software market growth in the coming years. However, being a highly complex process, BPM is difficult to understand by many. Lack of awareness regarding the proper usage of this system may hamper the global business process management market growth.


Fortune Business Insights™ lists down all the companies operating in the global market for business process management (BPM). They are as follows:



  • Appian Corporation (Virginia, United States)

  • IBM Corporation (New York, United States)

  • Kissflow (Chennai, India)

  • Laserfiche (California, United States)

  • Pegasystems, Inc. (Massachusetts, United States)

  • BP Logix, Inc. (California, United States)

  • Fujitsu Ltd. (Tokyo, Japan)

  • Opentext, Inc. (Waterloo, Canada)

  • Infosys Ltd. (Bengaluru, India)

  • SourceCode Technology Holdings, Inc. (Washington, United States)

  • Nintex Platform (Washington, United States)

  • Oracle Corporation (Texas, United States)

  • ProcessMaker. (North Carolina, United States)

  • Quick Base (Massachusetts, United States)

  • Red Hat, Inc. (North Carolina, United States)


A Noteworthy Industry Development-



  • June 2020 - Pegasystems Inc. announced the launch of Pega Process Fabric, an advanced cloud-based software. According to the company, the software aids in efficiently driving work processes across distributed enterprise technologies. With less deployment hassle, the solution helps enterprises to improve user experience.


Further Report Findings-



  • North America stood at USD 6.38 billion in 2020 and is projected to showcase significant growth backed by the high penetration of advanced technologies in various operations.

  • Asia Pacific to exhibit significant growth during the forecast period owing to the availability of IT-BPM outsourcing services in India.

  • Based on industry, the BFSI segment held 35.6% global business process management market share in 2020 stoked by the extensive usage of these solutions to simplify multiple complex tasks.


The market can be segmented in this way:


























































  ATTRIBUTE



  DETAILS



Study Period



   2017 – 2028



Base Year



  2020



Forecast Period



  2021 – 2028



Historical Period



  2017 – 2019



Unit



  Value (USD Billion)



Segmentation



  Component; Deployment; Organization Size; Functionality; Industry and Region



By Component




  • Solution/Tools/Platform

  • Services



By Deployment




  • On-Premise

  • Cloud



By Organization Size




  • Large Enterprises

  • Small and Medium Sized Enterprises



By Functionality




  • Accounting & Finance

  • Sales & Marketing

  • Human Resource

  • Supply Chain Management

  • Operations Management & Support

  • Others (Customer Management, Etc.)



By Industry




  • BFSI

  • IT & Telecommunication

  • Healthcare

  • Manufacturing

  • Others (Government, Media & Entertainment)



By Region




  • North America (Component; Deployment; Organization Size; Functionality; Industry and Country)

    • United States (By Industry)

    • Canada (By Industry)



  • Europe (Component; Deployment; Organization Size; Functionality; Industry and Country)

    • UK (By Industry)

    • Germany (By Industry)

    • France (By Industry)

    • Scandinavia (By Industry)

    • Rest of Europe



  • Asia Pacific (Component; Deployment; Organization Size; Functionality; Industry and Country)

    • China (By Industry)

    • India (By Industry)

    • Japan (By Industry)

    • Southeast Asia (By Industry)

    • Rest of Asia Pacific



  • The Middle East & Africa (Component; Deployment; Organization Size; Functionality; Industry and Country)

    • GCC (By Industry)

    • South Africa (By Industry)

    • Rest of the Middle East & Africa



  • Latin America (Component; Deployment; Organization Size; Functionality; Industry and Country)

    • Brazil (By Industry)

    • Mexico (By Industry)

    • Rest of Latin America




Business Process Management (BPM) Market
  • PDF
  • 2020
  • 2017-2019
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Jubilant
Kpmg
ey
Mckinsey
Dupont
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X