Global Business Process Management Market to Grow at 12.29% CAGR to Reach 15565.87 Million USD By 2023
A new market study, titled “Global Business Process Management Market Trends Analysis 2019 ”, has been featured on WiseGuyReports.
Pune, India – July 16, 2019 /MarketersMedia/ —
Business Process Management Market
The global business process management market to grow from USD 6916.65 million in 2016 to USD 15565.87 million by 2023, at a Compound Annual Growth Rate (CAGR) of 12.29%. The year 2016 has been considered as the base year, while the forecast period is up-to 2023.
The major forces driving the growth of the business process management market include the optimized business operations with efficiency and effectiveness and need for workflow automation and mobile technology evolution. Moreover, staff satisfaction and improved productivity is also one of the factors that is driving the market growth. However lack of middle management involvement to adopt bpm solutions, organization cultural barriers, may hinder the market growth. In the middle of difficulty lies opportunity such as the emergence of big data and cloud-based bpm solutions, and increased adoption of analytics. The possible challenges for the market growth are integration complexities, and innovation limitation. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global business process management market is studied across aerospace & defense, banking, financial services & insurance, consumer goods & retail, education, energy & utilities, government, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, transportation & logistics, and travel & hospitality. Based on geography, the global business process management market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
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The report features a competitive scenario of the business process management market and provides inclusive analysis of key growth strategies adopted by major players. Key products profiled in the study are Appian Business Process Management Suite, Automate BPM, Bonita BPM, IBM Business Process Manager, Intellect BPM, Laserfiche BPM, OpenText MBPM, Oracle BPM Suite, Penta Business Process Management Software, Pipefy BPM Software, Pulpstream, Sensus BPM Software, TIBCO ActiveMatrix BPM, and bpm’online.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of business process management market. Moreover, the study highlights current market trends and provides forecast. We also have highlighted future trends in the business process management market that will impact the demand during the forecast period. Moreover, the competitive analysis of business process management market brings an insight on the product usability profiles of the leading players. Additionally, the analysis highlights features & pricing, informant reviews of the key products in the market.
Reasons to Buy:
The business process management market research study reveals hidden insights and dynamic, which in turn helps the players in the ecosystem take better strategic decisions. The firms looking for purchasing the global business process management market research report could look for following prospects on their way to better understand the market that can aid further decision making and possibly identify the best opportunities to exploit.
> Evaluate the qualitative and quantitative aspects of the report and analyze the business process management market penetration with respect to industries and geographies.
> Evaluate the key vendors in the business process management market in terms of products satisfaction and business strategy. This helps identify consumer preferences and understand its current position in 360iResearch FPNV Positioning Matrix.
> Evaluates the key vendors and deeply analyze competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the business process management market.
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