Global Business Process Management Market Projected to Reach 26.76 Bn US$ by 2026 | Key Players: Oracle, Microsoft Biz Talk Server, IBM Corporation, Software AG, Fujitsu, Capgemini, Global 360

Global Business Process Management Market is accounted for $7.34 billion in 2017 and expected to grow at a CAGR of 15.4% to reach $26.76 billion by 2026. Increasing business organizations, cost efficiency and rising need for automation to reduce the product or service cost are some of the factors propelling the market growth. However, resistance to adoption from the IT staff and the lack of clarity in terms of the value proposition as an IT solution are hindering the market growth.

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Business Process Management (BPM) is the discipline that combines knowledge from information technology and knowledge from management sciences and applies this to operational business processes. These systems are generic software systems that are driven by explicit process designs to enact and manage operational business processes.

Top Players:
Some of the key players in Global Business Process Management market are Oracle Corporation, Microsoft Biz Talk Server, IBM Corporation, Software AG, Fujitsu, Capgemini, Global 360, Opentext, Inc. , Appian Corporation, Adobe, BP Logix, Inc., SAP, Pegasystems, Inc., Fabasoft, Hewlett Packard, Red Hat, Inc., Tibco Software, WebMethodsI, Ultimus and BizFlow Corp.

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By End User, BFSI segment registered significant growth. It enables banks to automate business processes like account opening, lending or payments to optimize. Institutions in the BFSI sector are adopting BPM solutions to deal with immediate process improvements and to tackle different business process improvement initiatives, which will help institutions to target and serve customers better. Amongst Geography, North America acquired the largest market share growth due to the presence of a large number of BPM vendors such as Pega, IBM and Oracle in United States.

Components Covered:
• Services
• Solution

Deployment Types Covered:
• Cloud
• On-Premises

Business Functions Covered:
• Accounting and Finance
• Human Resources
• Manufacturing
• Operations & Supply Chain Management
• Sales and Marketing
• Supply Chain Management
• Other Business Functions

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