Business Process Management Market Size, Share, Growth Analysis, By Deployment(Cloud Based and On-premise), By End User(SMEs and Large Enterprise), By Component(Platform and Services), By Function(Human Resource Management, Procurement and Supply Chain Management, Sales and Marketing, Accounting and Finance), By Type(On-Premises and Cloud), By Organization Size(Large Enterprises, Small and Medium-Sized Enterprises), By Industry(Banking, Financial Services, and Insurance, Information Technology), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2133 | Region: Global | Published Date: April, 2024
Pages: 197 |Tables: 59 |Figures: 77

Business Process Management Market Insights

Business Process Management Market size was valued at USD 15.25 billion in 2022 and is poised to grow from USD 18.30 billion in 2023 to USD 78.80 billion by 2031, at a CAGR of 20.02% during the forecast period (2024-2031).

The primary objective of business process management procedures is to evaluate business operations and pinpoint potential improvement areas so that management and enterprises can take action to enhance them and make them more dependable and efficient. The development of the BPM market has been significantly accelerated by the incorporation of AI into BPM. Automation of repetitive work, predictive analysis, improved customer experience, cost effectiveness, and decision-making abilities are just a few advantages of integrating AI. Additionally, the businesses have been undertaking a number of AI-related activities. For instance, Infosys BPM and IBM announced in November 2022 the opening of the AI and automation centre in Poland. This centre presents a broad range of AI and data technologies created to speed up and automate enterprises' migration to hybrid clouds. Additionally, the centre will enhance Infosys' design-driven BPM services offering. During the projection period, the market for business process outsourcing will develop due to initiatives like these made by firms involved in business process management. According to a recent EFMA retail banking poll, banks and credit unions may have been aligned towards product agility (32%), digital marketing (31%), migration to digital channels (29%), and cost-cutting (28%) over the preceding year. As a result, bank staff members have to deal with a sizable amount of data that comes through automated and customer-facing operations. A further aspect that significantly influenced the growth of the BPM market from 2023 to 2030 was the use of BPM in the healthcare sector.

US Business Process Management Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 15.25 billion

Largest Segment

On-Premise

Fastest Growth

Cloud-Based

Growth Rate

20.02% CAGR

Global Business Process Management Market ($ Bn)
Country Share for North America Region (%)

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Business Process Management Market Segmental Analysis

Business Process Management Market  is segmented on the basis of Component, Function, Type, Organization Size, Industry and region. By Component, the market is segmented into Platform and Services, By Function the market is segmented into Human Resource Management, Procurement and Supply Chain Management, Sales and Marketing, Accounting and Finance, Customer Service Support, Others, By type the market is segmented into On-Premises and Cloud, By Organization Size the market is segmented into Large Enterprises, Small and Medium-Sized Enterprises, By Industry the market is segmented into Banking, Financial Services, and Insurance, Information Technology, Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences, Other Industries. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Business Process Management Market Analysis by Deployment

From 2023 to 2030, the cloud-based segment is anticipated to experience the highest CAGR. To provide cloud-based business process management solutions, many businesses participate in a variety of strategic efforts, such as alliances, collaborations, mergers, and acquisitions. For instance, the French BPM solution supplier Axelor SAS and Globals Inc., an Indian cloud technology solution provider, have announced their collaboration. By utilizing the BPM, CRM, and ERP systems of Axelor SAS, the alliance aims to hasten the customer of Globals Inc.'s digital transformation.

Due to the advantages of on-premises deployment, such as control, security, and cost, among other things, the on-premises segment accounted for more than 35% of total revenue in 2022. Large businesses handling sensitive data are the driving force behind the expansion of this market, choosing on-premises BPM solutions over cloud-based ones due to benefits such improved security provided by data being firmly ensconced behind a firewall. One of the main factors contributing to the rise of the on-premise market has been resistance to switching from on-premises deployment to the cloud, especially among large companies.

Business Process Management Market Analysis by Organization Size   

Large Enterprises dominate the asset management market due to several factors. Large enterprises typically have extensive and complex asset portfolios that require robust management solutions. These organizations invest heavily in advanced asset management systems to ensure the optimal utilization of their assets, compliance with regulatory standards, and improved operational efficiency. The scale of operations in large enterprises necessitates sophisticated asset tracking, predictive maintenance, and integration with other enterprise systems such as ERP and CRM. Furthermore, large enterprises have the financial capacity to adopt cutting-edge technologies like IoT, AI, and machine learning, which enhance their asset management capabilities. Studies indicate that the comprehensive needs and substantial resources of large enterprises make them the primary adopters of advanced asset management solutions, thereby leading this market segment. 

In contrast, Small and Medium-Sized Enterprises (SMEs) represent the fastest-growing sub-segment in 2023. The growth in this segment is driven by the increasing awareness among SMEs of the benefits of effective asset management, including cost savings, improved productivity, and enhanced decision-making. SMEs are increasingly adopting cloud-based and scalable asset management solutions that are cost-effective and easy to implement. These solutions provide SMEs with access to advanced features such as real-time asset tracking, maintenance scheduling, and data analytics without the need for substantial upfront investments. Additionally, the proliferation of affordable IoT devices and the growing emphasis on digital transformation among SMEs contribute to the rapid adoption of asset management solutions in this segment. Recent studies highlight that the need for operational efficiency and competitive advantage is driving SMEs to embrace asset management technologies at an accelerated pace. 

Global Business Process Management Market Size By Deployment

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Business Process Management Market Regional Insights

In 2022, more than 35% of the market belonged to North America. The quick adoption of cutting-edge technology, the fact that this region is home to the greatest economy in the world, and the existence of significant businesses like Appian Corporation, Genpact, and International Business Machine Corporation, among others, are all factors that have contributed to its success. According to the most recent data made available by the US Census Bureau, there are about 6.1 million employer companies in the US. The country's numerous enterprises have also made it possible for BPM to be widely used, which has helped the North America area to expand.

The region with the highest predicted CAGR of more than 20% between 2023 and 2030 is Asia Pacific. Rising economies like India, which is undergoing a significant digitization shift, are responsible for the expansion of this region. Furthermore, the area is home to some of the world's largest economies, which have been eager to adopt new technologies, fueling market expansion. The fact that China and India are among the world's industrial powerhouses has helped BPM become more widely used in the region's manufacturing sectors, which has fueled growth.

Global Business Process Management Market Size By Region
  • Largest
  • Fastest

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Business Process Management Market Dynamics

Business Process Management Market Drivers

Demand for Increased Agility to Bolster Market Growth

  • To sustain business stability in the face of the change, it is imperative to be ready and responsive. Being nimble is essential when implementing business process management systems. Businesses might stop operations when a problem is found and look into business process management solutions. With their guidance, we analyse how the problem has affected the process before restarting it. Additionally, combining AI and ML technologies would help market participants manage business processes, accelerating industry growth.
  • This management approach is being used by both small and large businesses (SMEs) to identify and prioritise the procedures needed to re-engineer organisational operations. The ability of business process management software to centralise geographically dispersed resources and increase an organization's operational efficiency, the low-cost integration of artificial intelligence (AI) and machine learning (ML) technologies with the business process management software, and the transition from linear to holistic management and control, which results in the use of bus Quality is driving the market for business process management.

Business Process Management Market Restraints

Lack of Management to Hinder Market Growth

  • Business process management solutions are moderately priced but not inexpensive, and organisations occasionally have to invest a lot to completely adopt them. Business process management is implemented across many processes to help generate revenue, which is good for return on investment. However, poor execution may increase costs and even result in a loss for the business. Furthermore, incorrect application of business process management approaches may cause further resource loss. Most poorly managed business process management forwards these concerns throughout the workflow, which leads to poor analyses.

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Business Process Management Market Competitive Landscape

The leading companies employ a number of inorganic growth strategies, such as collaborations, customary mergers, and acquisitions, to increase the scope of their product offering.

Business Process Management Market Top Player’s Company Profiles

  • IBM Corporation (USA)
  • Pegasystems Inc. (USA)
  • Software AG (Germany)
  • Appian Corporation (USA)
  • OpenText Corporation (Canada)
  • Newgen Software Technologies Limited (India)
  • Tibco Software Inc. (USA)
  • Fujitsu Limited (Japan)
  • SAP SE (Germany)
  • Nintex Global Limited (USA)
  • K2 Software Inc. (USA)
  • Bizagi Limited (UK)
  • Bonitasoft SA (France)
  • Red Hat Inc. (USA)
  • BP Logix Inc. (USA)
  • Genpact Limited (USA)
  • AgilePoint Inc. (USA)
  • AuraPortal (Spain)
  • Ultimus Inc. (USA)
  • Creatio LLC (USA)
  • Kissflow Inc. (USA)

Business Process Management Market Recent Developments

  • In April 2024, Hyundai Engineering announced on April 3 that it has signed a business agreement with Trimble Solutions Korea to collaborate on the development of a building information model (BIM) process management program. 
  • In March 2024, Business process management (BPM) solutions provider WNS Holdings announced the launch of its new 60,000 sq ft delivery center in Hyderabad, India. 
  • In January 2024, European B2B software venture capital and growth equity firm Fortino Capital sold its stake in Munich-based software provider Symbioworld GmbH to Celonis, a global leader in process mining.

Business Process Management Key Market Trends

  • Integration of Automation and Artificial Intelligence (AI) Technologies: The incorporation of automation and AI technologies into business process management solutions is an important development. Businesses are rapidly implementing BPM software that includes AI capabilities such as machine learning, natural language processing, and robotic process automation. These following technologies improve process efficiency, eliminate errors, and allow for intelligent decision making, and resulting in increased production and cost savings.
  • Cloud-based BPM Solutions: Cloud-based BPM solutions is another important market trend. Scalability, flexibility, and cost-effectiveness are just a few of the benefits of cloud-based BPM. It enables businesses to access BPM software and data from any location, improving remote work and collaboration. Furthermore, cloud based BPM solutions enable enterprises to optimize their processes more efficiently by allowing for faster deployment, easier upgrades, and seamless connection with other cloud-based apps.

Business Process Management Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global business process management (BPM) market has been witnessing steady growth over the past few years and is expected to continue to grow at a significant rate in the coming years. The market is being driven by a growing need for organizations to streamline and optimize their business processes to enhance efficiency, productivity, and customer satisfaction. The use of BPM software and services is also gaining traction due to the increasing demand for digital transformation and the adoption of cloud-based solutions. The key players in the market are focusing on expanding their product portfolios, forming strategic partnerships and collaborations, and investing in research and development to gain a competitive edge in the market. The global BPM market is poised for strong growth in the coming years, driven by the increasing need for organizations to streamline and optimize their business processes in the face of a rapidly evolving business landscape. The growing demand for digital transformation, the adoption of cloud-based solutions, and advancements in technology such as AI and RPA are expected to further drive the growth of the market in the coming years.

Report Metric Details
Market size value in 2022 USD 15.25 billion
Market size value in 2031 USD 78.80 billion
Growth Rate 20.02%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Deployment
    • Cloud Based and On-premise
  • End User
    • SMEs and Large Enterprise
  • Component
    • Platform and Services
  • Function
    • Human Resource Management, Procurement and Supply Chain Management, Sales and Marketing, Accounting and Finance, Customer Service Support, Others
  • Type
    • On-Premises and Cloud
  • Organization Size
    • Large Enterprises, Small and Medium-Sized Enterprises
  • Industry
    • Banking, Financial Services, and Insurance, Information Technology, Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences, Other Industries
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM Corporation (USA)
  • Pegasystems Inc. (USA)
  • Software AG (Germany)
  • Appian Corporation (USA)
  • OpenText Corporation (Canada)
  • Newgen Software Technologies Limited (India)
  • Tibco Software Inc. (USA)
  • Fujitsu Limited (Japan)
  • SAP SE (Germany)
  • Nintex Global Limited (USA)
  • K2 Software Inc. (USA)
  • Bizagi Limited (UK)
  • Bonitasoft SA (France)
  • Red Hat Inc. (USA)
  • BP Logix Inc. (USA)
  • Genpact Limited (USA)
  • AgilePoint Inc. (USA)
  • AuraPortal (Spain)
  • Ultimus Inc. (USA)
  • Creatio LLC (USA)
  • Kissflow Inc. (USA)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Business Process Management Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Business Process Management Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Business Process Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Business Process Management Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Business Process Management Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Business Process Management Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Business Process Management Market size was valued at USD 15.25 billion in 2022 and is poised to grow from USD 18.30 billion in 2023 to USD 78.80 billion by 2031, at a CAGR of 20.02% during the forecast period (2024-2031).

The leading companies employ a number of inorganic growth strategies, such as collaborations, customary mergers, and acquisitions, to increase the scope of their product offering. 'IBM Corporation (USA)', 'Oracle Corporation (USA)', 'Pegasystems Inc. (USA)', 'Software AG (Germany)', 'Appian Corporation (USA)', 'OpenText Corporation (Canada)', 'Newgen Software Technologies Limited (India)', 'Tibco Software Inc. (USA)', 'Fujitsu Limited (Japan)', 'SAP SE (Germany)', 'Nintex Global Limited (USA)', 'K2 Software Inc. (USA)', 'Bizagi Limited (UK)', 'Bonitasoft SA (France)', 'Red Hat Inc. (USA)', 'BP Logix Inc. (USA)', 'Genpact Limited (USA)', 'AgilePoint Inc. (USA)', 'AuraPortal (Spain)', 'Ultimus Inc. (USA)', 'Creatio LLC (USA)', 'Kissflow Inc. (USA)'

To sustain business stability in the face of the change, it is imperative to be ready and responsive. Being nimble is essential when implementing business process management systems. Businesses might stop operations when a problem is found and look into business process management solutions. With their guidance, we analyse how the problem has affected the process before restarting it. Additionally, combining AI and ML technologies would help market participants manage business processes, accelerating industry growth.

Integration of Automation and Artificial Intelligence (AI) Technologies: The incorporation of automation and AI technologies into business process management solutions is an important development. Businesses are rapidly implementing BPM software that includes AI capabilities such as machine learning, natural language processing, and robotic process automation. These following technologies improve process efficiency, eliminate errors, and allow for intelligent decision making, and resulting in increased production and cost savings.

In 2022, more than 35% of the market belonged to North America. The quick adoption of cutting-edge technology, the fact that this region is home to the greatest economy in the world, and the existence of significant businesses like Appian Corporation, Genpact, and International Business Machine Corporation, among others, are all factors that have contributed to its success. According to the most recent data made available by the US Census Bureau, there are about 6.1 million employer companies in the US. The country's numerous enterprises have also made it possible for BPM to be widely used, which has helped the North America area to expand.

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