(MENAFNEditorial) The business process management market is expected to grow at approximately USD 16 Billion by 2023, at 14% of CAGR between 2017 and 2023. Market Highlights:
The Business Process Management Market is segmented on the basis of solution, service, business department, deployment, organization size and vertical. By solution segment, it includes process improvement, automation, content and document management, integration, monitoring and optimization. Business process automation empower organization by managing the entire business activities efficiently, reducing human error and making it adaptable to environmental change. It helps human resource department by replacing traditional paper driven documents to automated on-boarding activities.
Business Process Management (BPM) is a software solution that allows the businesses to streamline the set of processes or workflows. BPM Software (BPMS) allows the businesses to develop a framework to implement, execute, monitor and improve its processes. It also offers cost effective solution to businesses by integrating with other business applications that automates and streamlines the workflow that are required by multiple enterprise applications.
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Major Key Players:
IBM Corporation (U.S.) Appian Corporation (U.S.) Software AG (Germany) Oracle Corporation (U.S.) Pegasystems Inc. (U.S.) Redhat, Inc. (U.S.) Open Text Corporation (Canada) Tibco Solution Inc. (U.S.) Verisae, Inc. (U.S.) Dell Emc (U.S.) The Business Process Management Market is expected to grow at approximately USD 16 Billion by 2023, at 14% of CAGR between 2017 and 2023. Business Process Management Market Segmentation:
The business process management market has been segmented on the basis of deployment, solution service, business department, organization size and vertical. Service segment is bifurcated into consulting, system integration and training & education. System integration service empowers organization by allowing them to take challenges of creating seamless connectivity.
It helps to strengthen business by providing visibility and flexibility and making businesses more efficient and innovative.
Market Research Analysis:
The Business Process Management Market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve business workflow in organizations. Changing healthcare regulation, that requires changes in documents and financial transaction is driving the market in the region. According to the study, the business process management market will remain steady in Europe region.
Asia-Pacific market is estimated to be one of the fastest growing market as enterprises are continuously investing into research and development of business process management market. Increasing IT landscape is boosting the market in the region. The region is witnessing high adoption of business process management software by enterprises. Developing countries such as India and China are adopting business process management software at a large scale owing to increasing IT infrastructure, digitization and robust industrialization that is boosting the market in the region.
Business Process Management Market (MRFR) Research Analysis:
By business department segment, business process management market consists of human resource, accounting and finance, sales and marketing, manufacturing, operation and support others. BPM solution leverage human resource department by planning people requirement and managing and recognizing people performance.
The study indicates that BFSI sector accounts for highest market share by implementing BPM solution. In banking and finance sector, BPM solution empowers organization by business process and enable them to offer better customer service and satisfaction. In helps in reducing the loan processing time and complication associated with it.
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Intended Audience:
Investors and consultants System Integrators Government Organizations Research/Consultancy firms Technology solution providers IT Solution Providers Table of Contents 1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Continued….
List of Tables
Table 1 Business Process Management Market, By Solution
Table 2 Business Process Management Market, By Service
Table 3 Business Process Management Market, By Business Department
Continued….
List of Figures
Figure 1 Research Type
Figure 2 Business Process Management Market: By Solution (%)
Figure 3 Business Process Management Market: By Service (%)
Continued….
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