Business Process Management Market to Reflect a Holistic Expansion During 2023- 2030Posted by Sona Kulkarni on October 11th, 2023 Business Process Management Market Growth & TrendsThe global business process management market size is anticipated to reach USD 61.17 billion by 2030, growing at a CAGR of 19.9% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The business process management (BPM) market is technology-intensive and marked by constant growth due to the changing and evolving end-use industry demand. These solutions offer the potential to cope with all enterprise processes with better efficiency and allow businesses to accomplish process automation. BPM service providers are coming up with advanced means for BPM implementation. BPM platform providers or vendors effectively offer a broad, cross-industry portfolio of solutions to meet functional and industry demands. Large firms undertake BPM awareness workshops as part of their consulting services, a vital aspect driving the BPM market. Numerous companies are integrating Artificial Intelligence (AI) plus Machine Learning (ML) technologies with business process management software to lessen manual errors and advance IT systems innovation; global competition and new technologies are the key driving aspects behind the development and evolution of the business process management (BPM) industry. BPM has successfully delivered businesses with the means to raise profits and cut budgets. With the amplified influence of these technologies, BPM can increase the efficiency of its services even more. BPM, available as SaaS in the cloud, offers complete software functionality without needing to install and maintain the software. It eliminates the overhead of managing a server infrastructure while executing a solution for BPM and workflow management. It involves software deployed remotely and generally on demand & via a 'pay as you go model.' Businesses are ever adopting SaaS-based cloud BPM as it provides fast time-to-solution and low infrastructure costs. Technologies such as robotic process automation (RPA) that have arisen over the past few years have influenced the BPM industry. RPA, with its cost savings capabilities, speed, and effectiveness, is gradually making its way into all segments and all types of business processes. Robotic process automation has also arisen as the quickest-growing trend in BPM, mainly in the management segment, allowing high-value creation with quick time-to-value and prominent cost savings. For instance, in 2020, Appian Corporation launched the Appian Robotic Process Automated platform, which uses workflow, case management, artificial intelligence, and decision rules at the speed of low code. Request a free sample copy or view report summary: Business Process Management Market Report Business Process Management Market Report Highlights
Access Press Release@ https://www.grandviewresearch.com/press-release/global-business-process-management-bpm-market Business Process Management Market Segmentation Grand View Research has segmented the global business process management market based on solution, deployment, end-user, application, and region: Business Process Management (BPM) Solution Outlook (Revenue, USD Million, 2018 - 2030)
Business Process Management (BPM) Deployment Outlook (Revenue, USD Million, 2018 - 2030)
Business Process Management (BPM) End-user Outlook (Revenue, USD Million, 2018 - 2030)
Business Process Management (BPM) Application Outlook (Revenue, USD Million, 2018 - 2030)
Business Process Management (BPM) Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players of Business Process Management Market
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author |