Business Process Management (BPM) Market Size Worth USD 84.80 Billion in 2032 | Emergen Research

The global Business Process Management (BPM) market size was USD 14.46 Billion in 2022 and is expected to register a rapid revenue CAGR of 19.3% during the forecast period. The global business process management (BPM) market is witnessing significant growth attributed to increasing demand for process automation, coupled with advancements in cloud computing and Big Data solutions. According to a recent market research report, key factors driving this growth include the rising adoption of low code systems and the need for businesses to streamline and optimize their operations.

BPM involves various methods to discover, model, analyze, measure, improve, optimize, and automate business processes across sectors such as human resources, finance, sales, supply chain management, and customer service support.

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Market Drivers

Technological advancements and new software launches play a crucial role in driving market revenue growth. For example, the launch of Pega Process Fabric by Pegasystems Inc. in June 2020 has introduced a cloud-based software architecture that revolutionizes the management of work across different enterprise platforms.

Market Restraints

Despite the promising growth prospects, challenges such as lack of readiness for change and fragmented budgets pose restraints to market expansion. Resistance to BPM from IT staff and limited understanding of BPM concepts among firms also hinder market growth.

Segment Insights

Business Function Insights:

• Customer service support emerged as the largest revenue-generating segment in the global BPM market in 2022. This is attributed to the growing emphasis on customer satisfaction and after-sales service.

• Supply chain management is expected to witness moderate revenue growth during the forecast period, driven by the need for enhanced efficiency and automation in complex supply chain operations.

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Organization Size Insights:

• Large enterprises dominate the BPM market due to their need to manage vast amounts of data and processes efficiently. Standardization of processes and cultural changes are key focus areas for large organizations implementing BPM strategies.

• Small and Medium-sized Enterprises (SMEs) are increasingly adopting automated BPM solutions to reduce costs and improve customer service. Automated BPM tools help SMEs streamline tasks, digitize communication, and enhance information sharing within the organization.

End-Use Insights:

• The Banking, Financial Services, and Insurance (BFSI) sector lead in BPM adoption, leveraging BPM solutions to streamline operations and enhance customer service.

• Retail and eCommerce businesses are experiencing rapid adoption of BPM solutions to optimize operations, manage orders, track inventory, and improve customer satisfaction.

Business Process Management Top Companies and Competitive Landscape

The global Business Process Management (BPM) market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective BPM solutions.

Some major players included in the global Business Process Management (BPM) market report are:

• Appian Corporation
• International Business Machine Corporation
• Bizagi Group Limited
• Pegasystems Inc.
• Nintex UK Ltd
• Genpact Limited
• Oracle Corporation
• BP Logix, Inc.
• Microsoft Corporation
• Kissflow Inc.
• Wrike, Inc.
• Software AG
• Newgen Software Technologies Limited
• Infosys Limited
• Camunda
• Cloud Software Group, Inc.
• Tata Consulting Services Limited
• Blue Yonder Group, Inc.
• Aurea, Inc.

Business Process Management Latest Industry News

• In March 2022, Blueprint Software Systems, a prominent provider of cloud-based software solutions designed to assist major organizations in understanding and improving their business processes, launched its new Business Transformation Platform. This provides process intelligence to corporate organizations, allowing to analyze and assess process value, find hidden inefficiencies, and execute on data-driven improvement plans with speed and precision.

• In March 2020, EPSoft Technologies introduced the EPSoft Intelligent Automation Platform, a comprehensive suite of automation technologies for better business process management. The Intelligent Automation Platform, which was built in-house, controls the entire process lifecycle, from data process mining to implementation, bot building, and continuing management. The cloud-native software platform also enables enterprises to confidently solve the core process-related difficulties.

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Business Process Management Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Business Process Management (BPM) market based on the, business function, organization size, deployment mode, and region:

• Business Function Outlook (Revenue, USD Billion; 2019-2032)
o Human Resource Management
o Finance and Accounting
o Sales and Marketing
o Supply Chain Management
o Customer Service Support

• Organization size Outlook (Revenue, USD Billion; 2019-2032)
o Large Enterprises
o Small and Medium Enterprises

• Deployment mode dynamics Outlook (Revenue, USD Billion; 2019-2032)
o On-Premises
o Cloud

• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Banking, Financial Services, and Insurance (BFSI)
o Healthcare
o Retail and E-Commerce
o Manufacturing
o Government and Public Sector

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of Middle East & Africa

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