Business Process Management (BPM) Market Will Witness Growth Based On Rising Need Of Process Automation Solutions Till 2024: Grand View Research, Inc.
Further key findings from the study suggest:
• The process modeling and automation solution segment dominated the BPM market in terms of revenue in 2015. This is attributed to the growing need for process improvement in the manufacturing as well as service industry.
• The uses of the BPM solutions in the hospital management system, including bed management and patient monitoring, are anticipated to be the key factor fostering growth in the healthcare sector.
• The cloud-based BPM solutions are expected to observe a high adoption among SMEs due to their features such as scalability offered at a very low cost. Cloud-based BPaaS providers are expected to target the healthcare sector due to the growing IT spending by hospitals and pharmaceuticals.
• Large enterprises dominated the industry accounting for more than 60% of total market revenue share in 2015. The large share is primarily driven by the focus of the enterprise to build central functionality in order to enhance the operational efficiency.
• North America dominated the industry with more than 30% share in 2015. This is attributed to its early adoption, primarily in the government and BFSI sectors. Asia Pacific is anticipated to witness a considerable growth owing to the large scale industrialization and emergence of several startups in India, China, and the ASEAN region.
• The prominent industry participants include IBM Corp., Microsoft Corp., Oracle Corp., SAP SE, Appian Corp., and PegaSystems Inc. A strong focus on the research & development initiatives is helping solution providers to create its presence in the competitive environment. Merger & acquisition is also anticipated to be a key strategy used to diversify the developer’s competency to provide different solutions under a single roof.
Grand View Research has segmented the global Business Process Management (BPM) market on the basis of solution, application, deployment, end-user, and region:
BPM Solution Outlook (USD Million; 2014 - 2024)
• Process Modeling
• Content & Document Management
• Monitoring & Optimization
BPM Application Outlook (USD Million; 2014 - 2024)
• IT & Telecom
• Government & Defense
BPM Deployment Outlook (USD Million; 2014 - 2024)
BPM End-user Outlook (USD Million; 2014 - 2024)
• Large Enterprise
BPM Regional Outlook (USD Million; 2014 - 2024)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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