PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238847
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238847
Automotive business process management market size was valued at USD 3,106.8 Million in 2022, expanding at a CAGR of 9.9% from 2023 to 2030.
Automotive business process management (BPM) is a process of modifying business activity to create a new way or scope by integrating individual processes. Additionally, it also offers direction & capabilities to transform complex, low-cost & less time-consuming operational processes, and high cost & high lead operational processes into simple ones. Moreover, by strengthening its operational process, automotive business process management helps to achieve the real-time goals of the organization. Furthermore, rigid competition in the automotive industry has encouraged manufacturers into the new era of automotive business process management.
Rapidly shifting customer interest and requirements towards technology and design in the automotive sector has driven the necessity of services that offer solutions to increase efficiency. Additionally, reducing the production cost with better quality gives birth to an increased customer gratification level. However, a lack of knowledge about the benefits of business process fusion is less adopted by businesses which may hamper the market growth of automotive BPM over the forecast period.
Businesses are adopting automotive BPM in their process for understanding & connecting to gain a competitive advantage in the business including customization and upgradation of process. Furthermore, this propels the automotive BPM market growth. The COVID-19 had an impact on the automotive BPM market positively. Enterprises starts perceive automotive BPM solutions as an important factor that would help them transform and restructure their functions and operations.
The global automotive business process management market is segmented on the basis of enterprise size, deployment type, function, and region.
The market is divided into two categories based on enterprise size: small & medium enterprises and large enterprises. The small & medium enterprise sector is estimated to dominate the market. The availability of cloud-based solutions and the adoption of automotive BPM tools are the driving factors for the small & medium enterprise segments. Additionally, it helps small & medium enterprises in managing their resource and finance.
The market is divided into two categories based on deployment type: on-premise and cloud-based. The residential sector is expected to possess the market. Advances in cloud-based deployment and big data offer high-cost efficiency which would drive the segment growth.
The market is divided into five categories based on function: human resource management (hrm), procurement and supply chain management (SCM), sales and marketing, accounting and finance, customer service support, and others. The customer service support segment is likely to maintain its dominance during the forecast period. Due to changing customer demand in terms of technology and design automotive BPM has to gain a long run of success this, in turn, leads to the high level of product development in this industry.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The market beholds vibrant growth due to the increasing demand for automotive BPM as market players think that it would help them generate more outcomes and revenue. Additionally, it offers the customers products as per their taste and preference at the least cost and of good quality which would contribute to significant growth for automotive business process management.
Moreover, primary techniques used by manufacturers to uphold the business include product launches, R&D spending, and mergers and acquisitions. For instance, in December 2021, Capgemini company announced that it has supported Volvo Car APEC in the digital transformation of its operations, through the implementation of service cloud, sales cloud, experience cloud, and configure price quote (CPQ) software, thus delivering a personalized, streamlined, digital customer journey.
This proposed research study on automotive business process management market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for automotive business process management market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the automotive business process management market.
Impact of COVID-19 on automotive business process management market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on automotive business process management market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the automotive business process management market, we have also included competitive landscape and key innovator analysis for the automotive business process management market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the automotive business process management market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global automotive business process management market Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: