Global Business Process Management Market Size, Share, Growth Analysis, By Deployment(Cloud Based and On-premise), By End User(SMEs and Large Enterprise) - Industry Forecast 2024-2031

Global 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.