LONDON, Oct. 27, 2016 /PRNewswire/ -- "The ability to further improve the efficiency and visibility of the overall business process and adhering to ever increasing government compliances will drive the overall Business Process Management (BPM) market"
The BPM market size is estimated to grow USD 6.96 billion in 2016 to USD 13.52 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.2% from 2016 to 2021. The BPM market is driven by factors, such as the need to improve the efficiency and visibility, adhere to increasing government compliance, and to increase the overall Return on Investment (ROI) of the organization.
"BPM solutions are expected to show positive growth trends during the forecast period"
The BPM solutions are expected to dominate the market from 2016 to 2021, with a larger share than the BPM services, due to growing business compliance challenges faced by the organizations worldwide. Furthermore, due to future saturation in the solutions segment in the developed economies and variation in global governmental regulations and radiation norms & regulations, the demand for integration and consult services is expected to gain traction in the next five years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
Break-up of profile of the primary participants is as follows:
- By Company Type: Tier 1 – 20 %, Tier 2 – 42% and Tier 3 – 38%
- By Designation: C level – 55 %, Director level – 26%, Others – 19%
- By Region: North America – 47 %, Europe – 32%, APAC – 21%
Due to rise in the demand for integrated BPM solutions and increasing adoption of cloud-based solutions, the BPM market finds huge growth opportunities in the next five years.
The various key BPM vendors profiled in the report are as follows:
1. IBM Corporation
2. Appian Corporation
3. Oracle Corporation
4. Red Hat, Inc.
5. Software AG
7. TIBCO Software
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the BPM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, mergers and acquisitions.
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