Global Business Process Management Market Size, Share, Growth Analysis, By Deployment(Cloud Based and On-premise), By End User(SMEs and Large Enterprise) - Industry Forecast 2024-2031

Global Business Process Management Market size was valued at USD 15.25 billion in 2022 and is poised to grow from USD 18.30 billion in 2023 to USD 78.80 billion by 2031, growing at a CAGR of 20.02% during the forecast period (2024-2031).

In order for management and businesses to take appropriate action to improve and make business operations more dependable and efficient, the main goal of business process management methods is to assess business operations and identify possible improvement areas. The addition of artificial intelligence to business process management has considerably expedited the growth of the BPM industry. A few benefits of using AI are decision-making skills, cost effectiveness, enhanced customer experience, predictive analysis, and automation of repetitive tasks. The companies have also been involved in several AI-related projects. For example, in November 2022, IBM and Infosys BPM announced the opening of an AI and automation center in Poland.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Business Process Management Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Business Process Management Market Segmental Analysis

Global Business Process Management Market is segmented on the basis of solution, deployment, end user and region. By solution, the market is segmented into automation, process modeling, content & document management, integration, others. By end user, market is segmented into SMEs and large enterprises. By deployment, the market is segmented into cloud-based and large enterprises. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Business Process Management Market

In order to maintain business stability during this transition, it is essential to remain prepared and adaptable. During the implementation of business process management systems, agility is crucial. When an issue is discovered, businesses may cease operations and investigate business process management solutions. Before we restart the process, we examine how the issue has affected it under their direction. Combining AI and ML technology will also speed up industry growth by assisting market participants in managing company processes.

Restraints in the Global Business Process Management Market

Solutions for business process management are not cheap, but they are also not very expensive, and companies may need to make large investments in order to fully implement them. A high return on investment is achieved by implementing business process management across a wide range of procedures in order to help create income. On the other hand, shoddy execution could raise expenses and possibly cause a loss for the company. Inadequate implementation of business process management techniques may also result in further resource loss. These issues are typically carried throughout the workflow by poorly managed business process managers, which results in subpar analyses.

Market Trends of the Global Business Process Management Market

A significant advancement is the integration of AI and automation technologies into business process management solutions. Companies are putting BPM software with AI features like robotic process automation, natural language processing, and machine learning into place quite quickly. The following technologies increase productivity and save costs by streamlining processes, removing errors, and facilitating intelligent decision-making.