About BPM Software
To move from paper-based work organization is looking for a high level of agility and higher efficiency and better transparency in the business, thus the increasing adoption of BMP software. This tool is defined as the automation of business processes of an organization by providing automate, execute, and to monitor business processes. It helps to fill the gap between people, different applications and the business. Moreover, this software is used for, process improvement, simulation, workflow management and so on. Significant growth has been forecast in the banking, financial services and insurance (BFSI) sectors. Growing adoption of the new methods and advance technology from all size of the organization is booming the demand for it.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global BPM Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Appian (United States), IBM (United States), Oracle (United States), Software AG (Germany), OpenText (Canada), Newgen Software (India), Genpact (United States), TIBCO (United States), Bizagi (United Kingdom) and Creatio (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Kissflow (India) and Kofax (United States).
Segmentation Overview
AMA Research has segmented the market of Global BPM Software market by , Application (Finance, Banking, Telecom, Manufacturing, Government and Others) and Region.
On the basis of geography, the market of BPM Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small and Medium Enterprises (SMEs) will boost the BPM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-premises will boost the BPM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Business Function, the sub-segment i.e. Human Resource Management (HRM) will boost the BPM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Platform will boost the BPM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Advanced Technology Such As Cloud-Based Segment to Record the Fastest Growth
Market Growth Drivers:
Increasing Demand for the Process Automation Solution Is Driving the BMP Market Growth
Challenges:
Choosing Appropriate Processes to Implement Automation
Restraints:
Issues Related to Security
Opportunities:
BPM and AI Capabilities, (ML) Driven Analysis and Prediction Can Be Made Opportunity of Growth in the Market
Market Leaders and their expansionary development strategies
March 2020, Alfresco Software United States Based Company Has Announced Their Acquisition With The Long Term Partner TSG. Alfresco Is An Open Source Service, Content Management Software And Service Firm. Alfresco Delivers Cloud-Native Content Services, Including Content Management, Process And Governance Capabilities, With AI And ML That Abstracts Business Perceptions From Content.
In January 2024, Pega, the CRM and BPM software company, launched of GenAI Knowledge Buddy, to generate answers for employees and customers based on a synthesis of content distributed across enterprise knowledge bases.
Key Target Audience
BPM Software Providers, Government Regulatory Bodies, Private Research Organizations, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.