Pune, India, January 04, 2019 -- /360iResearch/ -- The report "Global Business Process Management Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 7,352.36 million in 2017 and is projected to reach USD 17,635.35 million by 2024, growing at a CAGR of 13.31% from 2017 to 2024.
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, and organisation 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 market, the global business process management market is studied across Business Activity Monitoring, Business Performance Management, and Mobile Business Process Management. Based on industry, the global business process management market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality. Based on geography, the global business process management market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
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 company profiled in the study are Appian, Automate, Bonitasoft, Intellect, International Business Machines Corporation, Laserfiche, OpenText Corporation, Oracle Corporation, Pegasystems, Penta Technologies, Pipefy, Pulpstream, Sensus process management, TIBCO Software, Inc., and bpm'online.
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