Process Analytics Market is Booming (50.41% CAGR)| KOFAX INC., Lana Labs GmbH, Worksoft, Inc., QPR Software, Cognitive Design Technology, Signavio
Global Process Analytics Market is expected to rise from its initial estimated value of USD 189.89 million in 2018 to an estimated value of USD 4974.11 million by 2026, registering a CAGR of 50.41% in the forecast period of 2019-2026. Increasing focus on improving customer experience is the major factor for the growth of this market.
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Global Process Analytics Market By Process Mining Type (Process Discovery, Process Conformance, Process Enhancement), Deployment Type (On- Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Application (Business Process, Information Technology Process, Customer Interaction), Types (Software, Services), Industry (BFSI, Telecommunications and IT, Retail and e-commerce, Government and defense, Healthcare, Manufacturing, Energy and utilities, Construction and engineering, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Some of the major competitors currently working in the global process analytics market are Fluxicon BV, Icaro Tech, KOFAX INC., Lana Labs GmbH, Worksoft, Inc., QPR Software, Cognitive Design Technology, Signavio, SNP Schneider-Neureither & Partner SE, Software AG, FUJITSU, Broadcom, Process Analytics Factory GmbH, StereoLOGIC.
Process analytics is a method which is used to improve the functioning of the system by improving the efficiency and effectiveness so that it can achieve its end goals. The main aim of the process is to check how process is working and make required changes so that process can be improved. These days they are widely used in industries like telecommunication, retail, healthcare etc. Increasing prevalence for task- level automation among consumer is fuelling the growth of this market.
Rising adoption of task- level automation is driving the growth of this market
Increasing partnership between process analytics and ERP vendor is another factor driving the growth of this market
Lack of skilled and trained professional is restraining the growth of this market
Increasing demand of open- source alternatives for commercial solutions is another factor driving the growth of this market
Table of Contents:
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. Global, By Component
7. Product Type
9. Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
11. Company Landscape
12. Company Profiles
13. Related Reports
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By Process Mining Type
By Deployment Type
By Organization Size
Small and Medium-Sized Enterprises
Information Technology Process
Telecommunications and IT
Retail and e-commerce
Government and defense
Energy and Utilities
Construction and Engineering
Travel and Hospitality
Middle East and Africa
Key Developments in the Market:
In May 2019, Moody’s Analytics announced the launch of their new risk and analytics platforms- CAP solution. This specially designed to provide the risk management professionals direct access to the same data and models that Moody Analytics uses. This will also help the financial institution to reduce the overall cost and maintenance and support of the models.
In April 2019, Repligen Corporation announced that they have acquired C Technologies Inc. which helps the Repligen to grow in the Process Analytics segment of bioprocessing with best- in- class protein measurement technologies and new developed products. This acquisition will also help the company to expand their business and improve their business with new developments.
Global process analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of process analytics market for global, Europe, North America, Asia-Pacific and South America.
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
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