Business Process Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the global Business Process Management (BPM) Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers stakeholders detailed insights to facilitate strategic decision-making in this rapidly evolving industry.

Key Insights:

Business Process Management Market Size (2024E): USD 18,802.7 Mn
Projected Market Value (2031F): USD 34,859.8 Mn
Global Market Growth Rate (CAGR 2024 to 2031): 7.1%

Business Process Management Market - Report Scope:

The Business Process Management (BPM) market encompasses solutions and services designed to optimize and automate business processes to enhance efficiency, productivity, and agility. BPM tools are critical in streamlining workflows, ensuring compliance, and improving customer satisfaction. The market is driven by increasing digital transformation initiatives, the need for operational efficiency, and the growing adoption of cloud-based BPM solutions across industries.

Market Growth Drivers:

Several key factors are fueling the growth of the BPM market, including rising demand for process automation and workflow optimization across industries. The proliferation of digital transformation initiatives in enterprises is leading to the widespread adoption of BPM solutions. Additionally, the growing emphasis on customer-centric business strategies and the need to manage complex business operations in real-time are driving market expansion. The increasing integration of AI, machine learning, and data analytics in BPM tools further enhances their capabilities, providing organizations with actionable insights to improve decision-making.

Market Restraints:

Despite strong growth prospects, the BPM market faces certain challenges, including the high costs associated with implementing BPM solutions and resistance to organizational change. The lack of technical expertise to deploy and manage advanced BPM systems also poses a significant barrier. Furthermore, concerns around data privacy and security, particularly in cloud-based BPM deployments, may limit adoption in some industries.

Market Opportunities:

The BPM market offers substantial opportunities with advancements in technology and the increasing adoption of hybrid and cloud-based solutions. The integration of AI, robotic process automation (RPA), and IoT in BPM platforms is creating new growth avenues. Moreover, small and medium-sized enterprises (SMEs) are emerging as a significant market segment due to their growing interest in process automation and digital solutions. Expanding BPM applications in emerging markets and industries, coupled with strategic partnerships and mergers, present significant growth potential for vendors.

Key Questions Answered in the Report:

What are the primary factors driving the global growth of the BPM market?
Which industries are leading the adoption of BPM solutions?
How are advancements in AI and automation transforming BPM applications?
Who are the key players in the BPM market, and what strategies are they employing to maintain competitiveness?
What are the emerging trends and future prospects for the global BPM market?

Competitive Intelligence and Business Strategy:

Leading companies in the global BPM market, such as Pegasystems, Appian, and IBM, are focusing on innovation, product differentiation, and strategic partnerships to enhance their market position. These companies are leveraging AI, RPA, and cloud technologies to deliver comprehensive BPM solutions tailored to various industries. Collaborations with industry stakeholders, along with investments in research and development, are helping companies address evolving customer needs and expand their global footprint. Emphasis on scalability, flexibility, and security ensures these market leaders stay ahead in this competitive landscape.

Key Companies Profiled:

Pegasystems
Appian
IBM
Oracle
Software AG
Nintex
Infosys Ltd.
Newgen Software
Genpact
Accenture

Business Process Management Market Segmentation:

By Component:

Solution
Service

By Business Function:

Human Resource Management
Procurement and Supply Chain Management
Sales and Marketing
Accounting and Finance
Customer Service Support
Others

By Industry:

BFSI
IT
Telecommunication
Retail and Consumer Goods
Healthcare and Life Sciences
Others

By Region:

North America
Europe
East Asia
South Asia and Oceania
Latin America
The Middle East and Africa

Product Code: PMRREP34973

1. Executive Summary

1.1. Global Business Process Management (BPM) Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Product Adoption Analysis
3.2. Technology Assessment
3.3. Regulatory Landscape
3.4. Value Chain Analysis
- 3.4.1 List of Service Providers
- 3.4.2 List of Distributors
- 3.4.3 List of End Users
- 3.4.4 Profitability Analysis
3.5. Key Deals and Mergers
3.6. PESTLE Analysis
3.7. Porter's Five Force Analysis
3.8. Geopolitical Tensions: Market Impact

4. Price Trend Analysis, 2019 - 2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Pricing Analysis, By Product
4.4. Regional Prices and Product Preferences

5. Global Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Key Highlights
- 5.1.1. Market Volume (Units) Projections
- 5.1.2. Market Size (US$ Mn) and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Mn) Analysis and Forecast
- 5.2.1. Historical Market Size (US$ Mn) Analysis, 2019 - 2023
- 5.2.2. Current Market Size (US$ Mn) Analysis and Forecast, 2024 - 2031
5.3. Global Business Process Management (BPM) Market Outlook: Component
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Mn) Analysis, By Component, 2019 - 2023
- 5.3.3. Current Market Size (US$ Mn) Forecast, By Component, 2024 - 2031
  - 5.3.3.1. Solution
  - 5.3.3.2. Service
5.4. Market Attractiveness Analysis: Component
5.5. Global Business Process Management (BPM) Market Outlook: Business Function
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Mn) Analysis, By Business Function, 2019 - 2023
- 5.5.3. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
  - 5.5.3.1. Human Resource Management
  - 5.5.3.2. Procurement and Supply Chain Management
  - 5.5.3.3. Sales and Marketing
  - 5.5.3.4. Accounting and Finance
  - 5.5.3.5. Customer Service Support
  - 5.5.3.6. Others
5.6. Market Attractiveness Analysis: Business Function
5.7. Global Business Process Management (BPM) Market Outlook: Industry
- 5.7.1. Introduction / Key Findings
- 5.7.2. Historical Market Size (US$ Mn) Analysis, By Industry, 2019 - 2023
- 5.7.3. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
  - 5.7.3.1. BFSI
  - 5.7.3.2. IT
  - 5.7.3.3. Telecommunication
  - 5.7.3.4. Retail and Consumer Goods
  - 5.7.3.5. Healthcare and Life Sciences
  - 5.7.3.6. Other
5.8. Market Attractiveness Analysis: Industry

6. Global Business Process Management (BPM) Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Mn) Analysis, By Region, 2019 - 2023
6.3. Current Market Size (US$ Mn) Forecast, By Region, 2024 - 2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 7.3.1. By Country
- 7.3.2. By Component
- 7.3.3. By Business Function
- 7.3.4. By Industry
7.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 7.4.1. U.S.
- 7.4.2. Canada
7.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 7.5.1. Solution
- 7.5.2. Service
7.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 7.6.1. Human Resource Management
- 7.6.2. Procurement and Supply Chain Management
- 7.6.3. Sales and Marketing
- 7.6.4. Accounting and Finance
- 7.6.5. Customer Service Support
- 7.6.6. Others
7.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 7.7.1. BFSI
- 7.7.2. IT
- 7.7.3. Telecommunication
- 7.7.4. Retail and Consumer Goods
- 7.7.5. Healthcare and Life Sciences
- 7.7.6. Other
7.8. Market Attractiveness Analysis

8. Europe Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 8.3.1. By Country
- 8.3.2. By Component
- 8.3.3. By Business Function
- 8.3.4. By Industry
8.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Turkey
- 8.4.8. Rest of Europe
8.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 8.5.1. Solution
- 8.5.2. Service
8.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 8.6.1. Human Resource Management
- 8.6.2. Procurement and Supply Chain Management
- 8.6.3. Sales and Marketing
- 8.6.4. Accounting and Finance
- 8.6.5. Customer Service Support
- 8.6.6. Others
8.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 8.7.1. BFSI
- 8.7.2. IT
- 8.7.3. Telecommunication
- 8.7.4. Retail and Consumer Goods
- 8.7.5. Healthcare and Life Sciences
- 8.7.6. Other
8.8. Market Attractiveness Analysis

9. East Asia Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 9.3.1. By Country
- 9.3.2. By Component
- 9.3.3. By Business Function
- 9.3.4. By Industry
9.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 9.5.1. Solution
- 9.5.2. Service
9.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 9.6.1. Human Resource Management
- 9.6.2. Procurement and Supply Chain Management
- 9.6.3. Sales and Marketing
- 9.6.4. Accounting and Finance
- 9.6.5. Customer Service Support
- 9.6.6. Others
9.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 9.7.1. BFSI
- 9.7.2. IT
- 9.7.3. Telecommunication
- 9.7.4. Retail and Consumer Goods
- 9.7.5. Healthcare and Life Sciences
- 9.7.6. Other
9.8. Market Attractiveness Analysis

10. South Asia & Oceania Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 10.3.1. By Country
- 10.3.2. By Component
- 10.3.3. By Business Function
- 10.3.4. By Industry
10.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 10.4.1. India
- 10.4.2. Southeast Asia
- 10.4.3. ANZ
- 10.4.4. Rest of South Asia & Oceania
10.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 10.5.1. Solution
- 10.5.2. Service
10.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 10.6.1. Human Resource Management
- 10.6.2. Procurement and Supply Chain Management
- 10.6.3. Sales and Marketing
- 10.6.4. Accounting and Finance
- 10.6.5. Customer Service Support
- 10.6.6. Others
10.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 10.7.1. BFSI
- 10.7.2. IT
- 10.7.3. Telecommunication
- 10.7.4. Retail and Consumer Goods
- 10.7.5. Healthcare and Life Sciences
- 10.7.6. Other
10.8. Market Attractiveness Analysis

11. Latin America Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 11.3.1. By Country
- 11.3.2. By Component
- 11.3.3. By Business Function
- 11.3.4. By Industry
11.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 11.5.1. Solution
- 11.5.2. Service
11.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 11.6.1. Human Resource Management
- 11.6.2. Procurement and Supply Chain Management
- 11.6.3. Sales and Marketing
- 11.6.4. Accounting and Finance
- 11.6.5. Customer Service Support
- 11.6.6. Others
11.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 11.7.1. BFSI
- 11.7.2. IT
- 11.7.3. Telecommunication
- 11.7.4. Retail and Consumer Goods
- 11.7.5. Healthcare and Life Sciences
- 11.7.6. Other
11.8. Market Attractiveness Analysis

12. Middle East & Africa Business Process Management (BPM) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2023
- 12.3.1. By Country
- 12.3.2. By Component
- 12.3.3. By Business Function
- 12.3.4. By Industry
12.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024 - 2031
- 12.4.1. GCC Countries
- 12.4.2. Egypt
- 12.4.3. South Africa
- 12.4.4. Northern Africa
- 12.4.5. Rest of Middle East & Africa
12.5. Current Market Size (US$ Mn) Analysis and Forecast, By Component, 2024 - 2031
- 12.5.1. Solution
- 12.5.2. Service
12.6. Current Market Size (US$ Mn) Analysis and Forecast, By Business Function, 2024 - 2031
- 12.6.1. Human Resource Management
- 12.6.2. Procurement and Supply Chain Management
- 12.6.3. Sales and Marketing
- 12.6.4. Accounting and Finance
- 12.6.5. Customer Service Support
- 12.6.6. Others
12.7. Current Market Size (US$ Mn) Analysis and Forecast, By Industry, 2024 - 2031
- 12.7.1. BFSI
- 12.7.2. IT
- 12.7.3. Telecommunication
- 12.7.4. Retail and Consumer Goods
- 12.7.5. Healthcare and Life Sciences
- 12.7.6. Other
12.8. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Pegasystems
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Appian
- 13.3.3. IBM
- 13.3.4. Oracle
- 13.3.5. Software AG
- 13.3.6. Nintex
- 13.3.7. Infosys Ltd.
- 13.3.8. Newgen Software
- 13.3.9. Genpact
- 13.3.10. Accenture

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations