Business Process Management Market Statistics and Outlook by 2023 | Top Players Profiled BM Corporation, Red Hat Inc., Software AG, Oracle Corporation, Opentext Inc., Adobe, Microsoft, EMC Corp., TIBCO Software, Appian Corp

Business Process Management (BPN) is a discipline of operation management that is dedicated to improving corporate performance by maintaining, managing, and optimizing a company's business processes. It involves activities including design, automation, modeling, control, execution, measurement, process optimization, and others to support enterprise goals.

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The business process management (BPM) market involves a study of software and services used to achieve the aforementioned activities with high efficiency and output. Conventionally, on-premise BPM is used for the most enterprises, however, advances in cloud computing have increased the interest in on-demand software-as-a-service (SaaS) offerings during the recent years.

The global business process management (BPM) market is expected to register substantial growth in the near future, attributed to growth in the need for process automation and improved efficiency, need to adhere stringent government regulations and policies, and improve return on investments (RoI) for organizations.

Advances in cloud computing and Big Data offering increased efficiency in BPM software and increased IT expenditure is expected to offer noticeable growth for the global BPM market. However, resistance to adopting BPM solution by middle management of an organization and lack of clarity about the benefits of BPM solutions among end users hamper the market growth.

The report segments the business process management (BPM) market based on component, functionality, deployment mode, organization size, industry vertical, and geography. As per component, the market is segmented into solution and services. Solution segment is further categorized into process modeling, automation, content & document management, integration, and monitoring & optimization.

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As per services, the market is segmented into implementation, consulting, and training & education. Based on functionality, the market is studied across accounting and finance, sales and marketing, human resource management, operations & supply chain management, and others. Based on deployment mode, it is bifurcated into on-premise and cloud-based. As per organization size, the market is categorized into large and SMEs. As per industry vertical, the market is studied across healthcare, manufacturing, transportation & logistics, energy & utilities, BFSI, public sector, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Comprehensive competitive analysis and profiles of major market players such as IBM Corporation, Red Hat, Inc., Software AG, Oracle Corporation, Opentext, Inc., Adobe, Microsoft Corporation, EMC Corp., TIBCO Software, and Appian Corp. are also provided in this report.

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