Process Mining Software Market Scope
Process mining software provides visibility into current processes and the vulnerabilities or gaps within those processes. Also, it helps operations professionals recognize how business processes are carried out in practice, not just how they are carried out in theory. These tools deliver conformance checking to ensure processes are carried out properly and alert users as to where in the process steps are being missed or skipped, down to the exact employee. Process mining can provide insight into the performance of prebuilt workflows. In addition, users can discover areas where they may be able to automate such processes with the help of robotic process automation software.
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. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Process Mining Software market throughout the predicted period.
Celonis (Germany), Software AG (Germany), Minit (Netherlands), QPR ProcessAnalyzer (Finland), Signavio (Germany), OpsOne (France), Datapolis (Poland), Disco (Japan) and Fujitsu (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Icaro (United States) and Kofax (United States).
Segmentation Overview
The study have segmented the market of Global Process Mining Software market by Type (Discovery, Conformance and Enhancement (Extension)), by Application (Business Process, Ongoing Monitoring & Optimization, Critical Process Intersections and Hidden Problems) and Region with country level break-up.
On the basis of geography, the market of Process Mining 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).
Influencing Trend:
AI-Driven Technologies Such As Machine Learning and Predictive Analytics Will Facilitate the Rapid Adoption of A Data-First Culture In Organizations
Market Growth Drivers:
Businesses across the Globe Are Transforming Into a Dynamic Digital Environment and The Growing Demand from the Various End User Industries
Challenges:
Lack of Awareness in Emerging Nation
Restraints:
Security Threats May Hamper the Growth and Shortage of Budgets to Deploy Novel Technologies in an Organization to Enhance the Process
Opportunities:
The Growing Demand from the Developing Countries and Rising Adoption for Cloud Computing Technology
Market Leaders and their Expansionary Development Strategies
In July 2020, Tata Consultancy Services (TCS) and Celonis announced a new global partnership to help customers streamline their business processes for greater operational resilience and efficiency., and In May 2020, - Kryon® and Software AG announces new capabilities in their integrated process-driven RPA solution within Software AG's ARIS platform. Together, Software AG's Process Mining and Process Management capabilities, and Kryon Process Discovery™ real-time user behavior insights, and Full Cycle Automation Suite, create the only offering on the market which provides all building blocks for successful RPA.
In Dec 2020, Firstsource Solutions Limited and an RP-Sanjiv Goenka Group company, and Celonis announced a strategic partnership that will enable businesses to quickly identify and eliminate process constraints, driving agility and optimizing outcomes., and In Dec 2020, QPR has signed an agreement to deliver QPR ProcessAnalyzer to one of the largest logistics companies in Europe.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Process Mining Software Developers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.