Process Analytics Market 2020 - Global Industry Could Hit New Highs | IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Splunk Inc., Verint Systems Inc

Process analytics is the amalgamation of tools and methods implemented to process instances, data, and models to support decision making in organizations. It is used to improve understanding of how a process operates and to determine potential targets for process improvement by removing waste and surging efficiency. Different mining types encompassed by process analytics are process discovery, process conformance, and process enhancement. Business process analytics helps an organization so to improve throughput of their processes and work on optimizing these business process. It also helps in correlating data across various data sources and quickly onboard new data sources as the underlying process changes.

Increase in the implementation of task level automation and need to enhance process auditing and compliance are the major factors that drive the process analytics market growth. In addition, collaboration between process analytics and ERP vendors and generation of humongous volumes of process log data across business functions fuel growth of the market. However, competition from open-source alternatives hinder the demand for commercial solutions and lack of skill and expertise hamper the growth of the process analytics market. Furthermore, large scale investments from leading analytics vendors and enterprises that focus on customer experience are anticipated to create major opportunities for the process analytics market.

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The process analytics market is segmented into component, deployment mode, organization size, application, industry vertical, and region. In terms of component, it is bifurcated into solution and services. By deployment mode, it is divided into on-premise and cloud. As per organization size, it is segmented into large enterprises and small & medium enterprises. By application, market is segmented into business process, information technology process, and customer interaction. As per industry vertical, the market is categorized into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, education, healthcare and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The key players profiled in the process analytics market analysis are IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Splunk Inc., Verint Systems Inc., SAS Institute, Tableau Software Inc., Alpine Data Labs, and MicroStrategy Incorporated. Current and future process analytics market trends are outlined to determine the overall attractiveness of the market.

The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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