Business Process Management Market Set for Growth Amid Rising Demand for Automation and Digital Transformation

The global Business Process Management (BPM) market size was USD 14.46 Billion in 2022 and is expected to register a rapid revenue CAGR of 19.3% during the forecast period. The global Business Process Management (BPM) market is poised for significant growth, driven by the increasing need for process automation, the rising adoption of low-code systems, and advancements in cloud computing and Big Data. BPM, a system for optimizing, managing, and automating business processes, has gained prominence across multiple sectors, including Human Resources, finance, supply chain, sales, and customer service. These applications underscore BPM's role in improving operational efficiency and responsiveness to client needs.

According to the International Federation of Robotics, nearly 70% of workers believe automation could lead to higher-skilled job opportunities, while over 75% of marketers report improved conversion rates with marketing automation. The evolving digital landscape has heightened the relevance of BPM solutions in helping organizations streamline operations and drive customer satisfaction, especially in sectors like retail, eCommerce, banking, and manufacturing.

Request a Sample Report with Table of Contents and Figures to click Here: @https://www.emergenresearch.com/request-sample/2512

Growth Drivers in the BPM Market

One of the primary drivers for BPM market growth is the rapid pace of technological advancements and the continuous introduction of new software tools. For instance, Pegasystems Inc. launched Pega Process Fabric in 2020-a cloud-based platform that helps businesses seamlessly integrate diverse enterprise systems, enhancing efficiency and connectivity. This innovative tool uses APIs, an open UX framework, and robotic automation to bridge operational gaps, thus maximizing organizational workflow and connectivity.

Challenges in BPM Adoption

Despite the market's growth potential, there are notable challenges that could hinder its expansion. Resistance from IT departments, coupled with limited budgets and change-readiness issues, are significant obstacles for organizations looking to implement BPM. Many companies face difficulties due to limited knowledge of BPM's benefits and costs associated with adopting these solutions.

Segmental Insights

By Function: Customer service support has emerged as a leading segment within the BPM market, with companies increasingly prioritizing customer satisfaction. BPM software helps automate essential tasks such as query resolution, invoice management, and feedback processing, enabling service departments to deliver high-quality, consistent support. Supply chain management is another critical area, where BPM tools help companies navigate the complexities of global operations by automating inventory tracking, optimizing inventory levels, and reducing manual data entry.

By Organization Size: Large enterprises dominate BPM adoption, driven by their need for extensive data management and process standardization. BPM enables these companies to align business processes with organizational goals, improving quality and efficiency across departments. Small and medium-sized enterprises (SMEs) are also recognizing the benefits of BPM tools, particularly for reducing costs and enhancing customer service. Automated BPM systems streamline workflows, support digital communication, and facilitate efficient information transfer, enabling SMEs to achieve operational efficiencies without overspending.

By End-Use: The Banking, Financial Services, and Insurance (BFSI) sector leads BPM adoption due to the industry's reliance on streamlined processes to manage high volumes of data. BPM systems help automate tasks like KYC verification, account setup, loan processing, and compliance monitoring, allowing financial institutions to provide secure, efficient services. The retail and eCommerce sector is expected to grow fastest in BPM adoption, as companies utilize BPM for order management, inventory tracking, and customer relations, ensuring accurate and efficient operations. IT companies also employ BPM to automate tasks such as network and device management, improving customer service and compliance.

For More Details On this Report Click Here @https://www.emergenresearch.com/industry-report/business-process-management-market

Business Process Management Top Companies and Competitive Landscape

The global Business Process Management (BPM) market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective BPM solutions.

Some major players included in the global Business Process Management (BPM) market report are:

Appian Corporation

International Business Machine Corporation

Bizagi Group Limited

Pegasystems Inc.

Nintex UK Ltd

Genpact Limited

Oracle Corporation

BP Logix, Inc.

Microsoft Corporation

Kissflow Inc.

Wrike, Inc.

Software AG

Newgen Software Technologies Limited

Infosys Limited

Camunda

Cloud Software Group, Inc.

Tata Consulting Services Limited

Blue Yonder Group, Inc.

Aurea, Inc.

Business Process Management Latest Industry Updates

In March 2022, Blueprint Software Systems, a prominent provider of cloud-based software solutions designed to assist major organizations in understanding and improving their business processes, launched its new Business Transformation Platform. This provides process intelligence to corporate organizations, allowing to analyze and assess process value, find hidden inefficiencies, and execute on data-driven improvement plans with speed and precision.

In March 2020, EPSoft Technologies introduced the EPSoft Intelligent Automation Platform, a comprehensive suite of automation technologies for better business process management. The Intelligent Automation Platform, which was built in-house, controls the entire process lifecycle, from data process mining to implementation, bot building, and continuing management. The cloud-native software platform also enables enterprises to confidently solve the core process-related difficulties.

To Customized Report Market: @https://www.emergenresearch.com/request-for-customization/2512

Business Process Management Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented the global Business Process Management (BPM) market based on the, business function, organization size, deployment mode, and region:

Business Function Outlook (Revenue, USD Billion; 2019-2032)

Human Resource Management

Finance and Accounting

Sales and Marketing

Supply Chain Management

Customer Service Support

Organization size Outlook (Revenue, USD Billion; 2019-2032)

Large Enterprises

Small and Medium Enterprises

Deployment mode dynamics Outlook (Revenue, USD Billion; 2019-2032)

On-Premises

Cloud

End-use Outlook (Revenue, USD Billion; 2019-2032)

Banking, Financial Services, and Insurance (BFSI)

Healthcare

Retail and E-Commerce

Manufacturing

Government and Public Sector

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

Click Here To Buy Now @https://www.emergenresearch.com/select-license/2512

View Additional Related Reports:

Business Process Management (BPM) Market Size @ https://www.emergenresearch.com/industry-report/business-process-management-market/market-size

Business Process Management (BPM) Market Share @ https://www.emergenresearch.com/industry-report/business-process-management-market/market-share

Business Process Management (BPM) Market Trends @ https://www.emergenresearch.com/industry-report/business-process-management-market/market-trends

Business Process Management (BPM) Regional Market Demand @ https://www.emergenresearch.com/industry-report/business-process-management-market/regional-market-demand

Business Process Management (BPM) Market Analysis @ https://www.emergenresearch.com/industry-report/business-process-management-market/market-analysis

Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.