Global Business Process Management Market

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

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

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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 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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