Industry Background:
Business Process Management (BPM) is a discipline that involves a combination of process modeling, automation, execution, control, measurement and optimization of the business process flows in alignment with the enterprise goals. This is widely adopted by organization for improving the entire business operations. It empowers organization by managing workflow more efficiently, effectively and make more adaptable to environmental change.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Nintex (United States), Automation Anywhere (United States), UiPath (United States), Software AG (Germany), Appian (United States), Pegasystems (United States), Innovation Group (United Kingdom), Oracle (United States), Genpact (United States), Newgen Software (India), Bizagi (United Kingdom), OpenText (Canada), AgilePoint (United States), ProcessMaker (United States), TIBCO (United States), Creatio (United States) and Bonitasoft (France) |
According to AMA, the market for Business Process Management is expected to register a CAGR of 20.7% during the forecast period to 2030. This growth is primarily driven by Increasing Focus on Automating Businesses, Optimized Resource Utilization Through Automated Business Processes and Automated It Systems Help Serve Customers’ Dynamic Requirements.
Globally, a noticeable market trend is evident Streamlined Communication Across Varied Business Functions in the Organization
Major Players, such as IBM (United States), Nintex (United States), Automation Anywhere (United States), UiPath (United States), Software AG (Germany), Appian (United States), Pegasystems (United States), Innovation Group (United Kingdom), Oracle (United States), Genpact (United States), Newgen Software (India), Bizagi (United Kingdom), OpenText (Canada), AgilePoint (United States), ProcessMaker (United States), TIBCO (United States), Creatio (United States) and Bonitasoft (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2020, Appian acquired Novayre Solutions SL, developer of the Jidoka RPA platform. Acquisition of Novayre Solutions SL will empower Appian to unify low-code development and RPA into a single automation platform.
In January 2020, Appian entered into a technology partnership with Celonis, the market leader in AI-enhanced process mining and process excellence software. The partnership between Celonis and Appian is to unite Appian’s low-code automation platform with Celonis’ process mining technology for accelerating customers’ digital transformation journey. In August 2019, Nintex released new digital forms designer for creating sophisticated electronic forms that help collect information anytime and anywhere. The new forms of designer capability, which is part of the Nintex Process Platform, enables enterprises to manage, automate, and optimize business processes with the help of drag-and-drop functionality instead of coding.
Influencing Trend:
Streamlined Communication Across Varied Business Functions in the Organization and The Rising Demand for the Cloud Applications
Market Growth Drivers:
Increasing Focus on Automating Businesses, Optimized Resource Utilization Through Automated Business Processes and Automated It Systems Help Serve Customers’ Dynamic Requirements
Challenges:
Growing Cultural Barrier to Adopt Advanced Solutions Over Traditional Systems and Selecting Appropriate Processes to Implement Automation
Restraints:
Persistent Growth in Cyberattacks and Security Issues and Lack of Adequate Understanding From Many Business
Opportunities:
Integration of AI and Ml Technologies and Rising Demand for Robust Solutions to Maximize the Visibility and Control Over Processes
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Business Process Management Market
- Analysis about New Entrants in Business Process Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Business Process Management Study Sheds Light on
The Business Process Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Business Process Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Business Process Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.