Process Analytics Market, Size, Analysis and Forecast 2024 - Key players are Celonis, Kofax, Fluxicon, Minit, Icaro Tech, Lana Labs, Logpickr, Process Mining Group, Software AG, Fujitsu, CA Technologies

The global process analytics market is expected to witness significant growth during the forecast period. The growth of this market is attributed towards increased adoption of digital transformation among various business enterprises and rapid adherence of task level mechanization across the globe.

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On the basis of deployment type, the process analytics market is segmented into on-premises and cloud. Among these two segments, cloud deployment is expected to witness faster growth during the forecast period. Since, organizations are rapidly adopting cloud deployment in order to enable privacy, integration of various cloud applications, and to meet the legal compliances.

On the basis of application, the process analytics market is segmented into information technology process, business process and customer interaction. Among these segments, business process segment is expected to contribute largest revenue to the global market and is further expected to witness high growth during the forecast period.

Increasing demand of data analytics among process manufacturing organizations is the key trend observed in the process analytics market, globally. The technology is helping the business organizations in recognizing key strength and weakness in business operations that help them in taking informed and effective decisions.

The major factor that is driving the growth of global market include employment of digital transformation that is enhancing awareness among the users helping them to understand and analyze business operations.

Increasing competition from open-source alternatives is hindering the growth and demand of commercial solutions across the globe. Additionally, lack of skills and expertise in operating these techniques along with increased competition achieved from open-source options is expected to further hinder the growth of the process analytics market worldwide.

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Geographically, process analytics market in Europe generate the largest revenue and is further anticipated to witness high growth during the forecast period. The growth of process analytics market in this region is attributed to the development of latest process analytics technology among various large enterprises. Furthermore, among various countries the Netherlands and Germany are the major leaders in Europe.

The key players offering their solution in the the process analytics market include Celonis, Kofax, Fluxicon, Minit, Icaro Tech, Lana Labs, Logpickr, Process Mining Group, Software AG, Fujitsu, CA Technologies, Process Analytics Factory, StereoLOGIC, Intellera Monkey Mining, QPR Software, TimelinePI, Scheer, Cognitive Technology, Signavio, and ProcessGold.

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