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The Business Process Management (BPM) market size is expected to grow from USD 8.8 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5%NEW YORK, March 5, 2020 /PRNewswire/ -- The growing need to optimize business processes for meeting the dynamic requirements of customers expected to drive the BPM market Read the full report: https://www.reportlinker.com/p03793809/?utm_source=PRN The Business Process Management (BPM) market size is expected to grow from USD 8.8 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period. The major factors driving the growth of the BPM market include digital initiatives, need to design business processes as per the project requirement, automation of various business processes to enhance productivity, and ease in integration of processes with different communication systems within organizations. The technological advancement has led manufacturers to harness machine-to-machine systems, various mobile apps, and cloud applications, which has also extended their reach to the emerging markets.Moreover, manufacturing enterprises are modernizing their IT infrastructure, resulting in advanced control dashboards, and predictive maintenance algorithms, which can help perform general manufacturing operations as well as other support functions. BPM can assist the manufacturing enterprises in reducing lead time and streamlining their processes. APAC to grow at the highest CAGR during the forecast period Major economies in Asia Pacific (APAC) include China, Japan, India, Australia, and Singapore.The economies have heavily invested in startup ecosystem for cloud technologies. Furthermore, the region also has a competitive advantage over other regions, due to the easy availability of cost-efficient software and trained workforce, and flexible regulations and policies. Factors such as the increasing IT investment (As per NASSCOM, in 2018, IT spend in India was 1.4 trillion), need to enhance data-based decision making, and boosting the efficieny of employees, are expected to drive the BPM market forward. • By Company Type: Tier 1 – 50%, Tier 2 – 27%, and Tier 3 – 23% • By Designation: C-level – 43%, Directors – 27%, and Others – 30% • By Region: North America – 46%, Europe – 26%, APAC – 16%, MEA– 7% and Latin America – 5% Some prominent BPM vendors across the globe profiled in the BPM market study include Pegasystems (US), Appian (US), IBM (US), Oracle (US), Software AG (Germany), Nintex (US), OpenText (Canada), Newgen Software (India), Genpact (US), TIBCO (US), Bizagi (UK), ProcessMaker (US), Creatio (US), AgilePoint (US), BP Logix (US), K2 (US), Bonitasoft (France), Kissflow (India), Kofax (US), and AuraPortal (US). Research coverage The market study covers the BPM market across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as component, business function, deployment type, organization size, industry, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key benefits of buying the report The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall BPM market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses, and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities. Read the full report: https://www.reportlinker.com/p03793809/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker |