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Business Process Management (BPM) Market Explore Growth Of $23.04 Billion By 2024

u00a0In the Small and Medium-sized Enterprises (SMEs) and large enterprises, it is important to identify and prioritize the processes in order to reengineer organizational processes. In the service industry, BPM solutions keep the entire process user-friendly and connected, which improves the quality of the service provided to the end-users.<br>

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Business Process Management (BPM) Market Explore Growth Of $23.04 Billion By 2024

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  1. BPM Market Size Projected To Reach $23.04 Billion By 2024 | Grand View Research, Inc “In the Small and Medium-sized Enterprises (SMEs) and large enterprises, it is important to identify and prioritize the processes in order to reengineer organizational processes. In the service industry, BPM solutions keep the entire process user-friendly and connected, which improves the quality of the service provided to the end-users.” The global business process management (BPM) market is expected to reach USD 23.04 billion by 2024, according to a new study by Grand View Research, Inc. The growth is attributed to the increasing number of benefits offered by the BPM solution, including better productivity, ease of use, flexibility, and reduction in the time to wait for customers. The growing need for the integration of key functional areas in an organization is also expected to propel demand over the next eight years. The business process management software exhibits high avenues in various application areas, especially in the IT & telecom and healthcare sectors. This may be due to its capabilities of monitoring individual processes of the entire lifecycle. Organizations restructuring their business processes are most likely to adopt the BPM software. Several regulations, including ObamaCare and (Single Euro Payments Area) SEPA, are analyzed to significantly catapult the demand over the forecast period. Obamacare focuses on providing affordable health insurance to the U.S. citizens with the introduction of new taxes and tax breaks. The European Union introduced SEPA to simplify the inter-country bank transfers. Security concerns related to the cloud-based BPM solutions are anticipated to Follow Us:

  2. hinder the market growth. Additionally, the lack of knowledge in order to successfully implement business process management solutions in an organization is a key challenge for this industry. Global BPM market, by region 2014 - 2024 (USD Million) To request a sample copy or view summary of this report, click the link below: www.grandviewresearch.com/industry-analysis/business-process-management-bpm-market 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. Follow Us:

  3. •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. View more reports of this category by Grand View Research at www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software 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) •Automation •Process Modeling •Content & Document Management •Monitoring & Optimization •Integration •Others BPM Application Outlook (USD Million; 2014 - 2024) •BFSI •IT & Telecom •Retail Follow Us:

  4. •Manufacturing •Healthcare •Government & Defense •Others BPM Deployment Outlook (USD Million; 2014 - 2024) •Cloud-based •On-Premise BPM End-user Outlook (USD Million; 2014 - 2024) •SMEs •Large Enterprise BPM Regional Outlook (USD Million; 2014 - 2024) •North America •Europe •Asia Pacific •Latin America •Middle East & Africa Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-business-process-management-bpm-market 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, Follow Us:

  5. 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. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email:sales@grandviewresearch.com For More Information:http://www.grandviewresearch.com Follow Us:

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