Business Process Management Market to grow by USD 8.91 billion between 2022 to 2027 | Appian Corp., Bizagi Group Ltd., BONITASOFT SA, and more among key companies - Technavio

NEW YORK, Sept. 28, 2023 /PRNewswire/ -- The business process management market size is expected to grow by USD 8.91 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 10.1% during the forecast period, according to Technavio. Increasing demand for process automation and digital transformation is notably driving the business process management market. However, factors such as Data security and privacy issues may impede market growth. The market is segmented by Deployment (On-premises and Cloud-based), End-user (BFSI, Government and defense, Healthcare, IT and telecommunication, and Retail), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the business process management market, including Appian Corp., Bizagi Group Ltd., BONITASOFT SA, Compulink Management Center Inc., CREATIO EMEA Ltd., DXC Technology Co., FlowForma, Genpact Ltd., International Business Machines Corp., Kissflow Inc., Microsoft Corp., Newgen Software Technologies Ltd., Nintex Global Ltd., Open Text Corp., Oracle Corp., Pegasystems Inc., Salesforce Inc., Software AG, Thoma Bravo LP, and Vista Equity Partners Management LLC. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Free Sample Report.

Business Process Management Market 2023-2027: Company Analysis

Appian Corp: The company offers a business process automation solution, namely Appian Platform for process automation and process mining. This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information.

Business Process Management Market 2023-2027: Segmentation

Deployment

• The on-premises segment is significant during the forecast period. The segment experiences a surge in adoption, particularly among large enterprises. A pivotal driving force behind these escalating solutions is the capacity to confer unparalleled control and ownership over operations, processes, and the reservoir of data generated and housed within the ambit of business applications. Additionally, this heightened sense of control resonates strongly with enterprises seeking to uphold stringent governance and compliance standards. Furthermore, factors like the deployment of on-premise solutions are characterized by a one-time upfront cost, succeeded by subsequent monthly fees for managed services. Such cost dynamics, coupled with the overarching benefits of control and data ownership, underscore the appeal of the on-premise deployment model. Consequently, these compelling factors are poised for the growth of the on-premise segment, thereby propelling the expansion of the market throughout the forecast period.

Geography 

• North America will contribute 44% to the global market growth. The regional market growth can be attributed to an increase in the adoption of cloud computing services and the presence of several prominent companies in the region, such as IBM, Oracle, Appian, TIBCO Software, and Pega Systems. Telecommunication, manufacturing, healthcare, and retail are some of the major industries that are generating huge volumes of sensitive data. This, in turn, will fuel the need to integrate BPM solutions as well as advanced technologies such as analytics, to optimize the decision-making process while enhancing efficiency in business processes. Hence, such factors drive the regional market growth of the BPM market in North America during the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report

Business Process Management Market 2023-2027: Key Highlights

• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist business process management market growth during the next five years
• Estimation of the business process management market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the business process management market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of business process management market companies

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio