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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.
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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:
A Noteworthy Industry Development-
Further Report Findings-
The market can be segmented in this way:
2017 – 2028
2021 – 2028
2017 – 2019
Value (USD Billion)
Component; Deployment; Organization Size; Functionality; Industry and Region
By Organization Size