Business process management is the process accepted by group for educating the entire business operations. It empowers group by managing workflow more proficiently, successfully and make more adaptable to conservation change. It helps group in attaining specific goals such as increasing productivity of the commercial, efficient business workflow and arrival on investment. The business process management market is expected to grow at approximately USD 16 Billion by 2025, at +15% of CAGR between 2019 and 2025. The key drivers of business process management market include cloud solution technology that helps users to gain advantages from BPM solution at low cost. According to the study, by vertical segment BFSI sector is likely to account for highest market share owing to valuable service offered by BPM solution that helps in customer achievement and retaining in banking sector.
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Appian Corporation., Global 360., IBM Corporation., Lombardi Software., Met storm (OpenText)., Pegasystems Inc., Software AG., Tibco Software Inc., Fujitsu., Oracle Corporation., Ultima’s., Polymita Technologies., Red Hat Inc., BP Logix Inc.
Increasing IT competition creates opportunity for BPM vendors to develop efficient software that would be beneficial to certain industries, are one of the prime factors driving market growth. The major factors fueling market growth includes cost efficiency, investment returns from BPM software and business coordination and control.
The business process management market is segmented on the basis of solution, service, business department, deployment, organization size and vertical. By Geography, North America acquired the largest market share growth due to the presence of a large number of BPM vendors such as Pegan, IBM and Oracle in United States.
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Study Objectives of Business Process Management Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the business process management market.
- To provide insights about factors affecting the market growth.
- To analyze the Business process management market-based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of software, hardware, service, application, deployment and organization size.
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