Global Business Process Management Market Report and Forecast 2024-2032

Global Business Process Management Market Outlook

The global business process management market size reached approximately USD 15.21 billion in 2023. The market is estimated to grow at a CAGR of 11.1% in the forecast period of 2024-2032, reaching a value of around USD 39.35 billion by 2032.

Key Trends in the Market

Business process management is an approach to identify, evaluate, optimise, and measure business processes. BPM coordinates people, input, output, workflow, information, and technology to produce a specific business outcome and enhance its operational efficiency and customer experience.

• The growing deployment of BPM in the healthcare sector to streamline tasks, improve performance efficiency, enhance clinical procedures, ensure compliance and risk management, and reduce delays and errors is one of the prominent business process management market trends.

• Market players are taking strategic initiatives such as the launch of new BPM labs with world-class facilities, mergers and partnerships to develop smart process management, and collaborative efforts to accelerate digital BPM.

• The rising integration of innovative technologies such as artificial intelligence (AI) and machine learning (ML) to automate repetitive and mundane tasks, enhance customer experience, improve cost-efficiency, and minimise manual errors provide impetus to the business process management market growth. Furthermore, businesses are adopting cloud technology-based BPM software to collaborate, improve scalability, and boost operational efficiency.

Market Analysis

Based on the component, the market is bifurcated into platform and services. On the basis of the deployment model, the market is classified into on-premises and cloud. The business process management market segmentation, on the basis of organisation size, includes large enterprises and small and medium enterprises.

Based on business function, the market is categorised into human resource management (HRM), procurement and supply chain management (SCM), sales and marketing, accounting and finance, and customer service support, among others.

On the basis of end use, the business process management market is divided into IT and telecommunication, retail and consumer goods, government and defence, healthcare and life sciences, BFSI, and manufacturing, among others. The major regional markets of business process management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the business process management market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Microsoft Corporation  

• IBM Corporation  

• Appian Corporation 

• Oracle Corporation  

• TIBCO Software Inc. 

• Bizagi Group Limited  

• Cavintek, Inc. (Cflow)  

• Open Text Corporation  

• Newgen Software Technologies Limited.  

• BP Logix, Inc. 

• Kissflow Inc.  

• Others

Market Share by Organisation Size

Small or medium-sized organisations occupy a significant portion of the business process management market share owing to the large number of companies offering specialised BPM solutions for these organisations. SMEs are adopting BPM tools and solutions to automate business tasks and increase the productivity of the workforce. Moreover, BPM tools offer features such as effective collaboration and communication while streamlining various processes. Additionally, the implementation of AI-based intelligence BPM in businesses provides a positive outlook to the market.

Market Share by Region

As per the business process management market analysis, North America accounts for a sizeable share of the global market due to the rapid adoption of the latest technologies by businesses. Many organisations in the region are deploying BPM-based software and tools to enhance the efficiency of their business processes and improve the overall output. Furthermore, the BFSI sector in the region is incorporating BPM to automate tasks such as opening new accounts, lending loans, risk management, and customer enquiry and support.

Competitive Landscape

Microsoft Corporation is a multinational technology company that was founded in 1975 and headquartered in Washington, the United States. It is widely known for its operating system, Microsoft Windows, and Office business suite.

IBM Corporation, established in 1911, is a global leader in computer technology, with its headquarters in New York, the United States. It offers its products and services to aid its clients with their business processes.

Appian Corporation is a cloud computing corporation, incorporated in 1999 and based in Virginia, the United States. The company offers a low code automation platform for building applications and managing workflows.

Other business process management market players include Oracle Corporation, TIBCO Software Inc., Bizagi Group Limited, Cavintek, Inc. (Cflow), Open Text Corporation, Newgen Software Technologies Limited., BP Logix, Inc., and Kissflow Inc., among others.

Key Highlights of the Report