BUSINESS PROCESS MANAGEMENT MARKET ANALYSIS

Business Process Management MarketSize and Trends

The Business Process Management Market is estimated to account for US$ 14.46 Billion in terms of value by the end of 2022 and is expected to grow at a CAGR of 13.2% during the forecast period (2023-2030)

Global Business Process Management Market: Key Trends

Based on Deployment, the Cloud-based sub-segment dominated the global market in 2022, accounting for 63.9% shares in terms of value, followed by the on-premises

Global Business Process Management Market -Trends

Low-code/No-code BPM

• The global Business Process Management (BPM) market is witnessing a significant trend towards Low-code/No-code BPM solutions. These innovative platforms offer a simplified approach to designing, deploying, and managing business processes without the need for extensive coding knowledge. With Low-code/No-code BPM, businesses can streamline their operations, automate processes, and achieve desired outcomes more efficiently and rapidly.
• The Low-code/No-code BPM platforms enable even non-technical users to create and modify business processes through intuitive visual interfaces, reducing the dependency on IT developers. This democratization of process automation empowers organizations to respond quickly to changing market demands and make agile decisions, leading to improved business agility and faster time-to-market for products and services.
• As more companies recognize the advantages of Low-code/No-code BPM solutions, the market for these platforms is experiencing significant growth. Enterprises are increasingly adopting these solutions to enhance productivity, reduce costs, and enhance customer experiences. Moreover, the ease of implementation and scalability of Low-code/No-code BPM platforms make them attractive options for organizations across various industries and sizes.
• In conclusion, the rise of Low-code/No-code BPM is shaping the global BPM market, providing businesses with a powerful toolset to optimize their processes and gain a competitive edge in today's dynamic business landscape.

Robotic Process Automation (RPA)

• The Global Business Process Management Market is experiencing significant growth, largely driven by the adoption of Robotic Process Automation (RPA) technologies. RPA has emerged as a key enabler in streamlining and automating business processes, leading to enhanced efficiency and cost-effectiveness for organizations worldwide.
• RPA involves the use of software bots or robots to automate repetitive tasks, data entry, and rule-based processes, which were previously performed manually by employees. By implementing RPA, businesses can achieve improved accuracy, increased productivity, and reduced operational costs.
• The integration of RPA with Business Process Management (BPM) solutions has further accelerated the digital transformation of businesses. BPM platforms offer a comprehensive approach to manage, analyze, and optimize end-to-end business processes. When combined with RPA, companies can achieve even greater process automation, resulting in seamless workflows and quicker turnaround times.
• As a result, the Global Business Process Management Market has witnessed significant traction, with various industries adopting RPA-powered BPM solutions to stay competitive in today's fast-paced business landscape. The demand for these technologies is expected to continue to rise as more organizations recognize the potential benefits of implementing RPA within their BPM strategies.