The enterprise business process management software market is anticipated to grow at a significant CAGR of 6.5% during the forecast period (2022-2028). Enterprise business process management is a discipline that entails the modeling, automation, execution, control, measurement, and optimization of business process flows in order to match enterprise goals across systems, people, customers, and business partners. The ability to boost productivity and drastically cut costs is a fundamental driver driving the global enterprise business process management software market. These are general software systems that enact and manage operational business processes and are driven by specific process designs.
The global enterprise business process management software market is segmented based on deployment, solution, and end-user. Based on the deployment, the market is sub-segmented into on-premise and cloud. Based on the solution, the market is sub-segmented into process management, process automation, content and document management, case management, and others. Based on the end-user, the market is sub-segmented into BFSI, government and defense, healthcare, it and telecommunication, retail, manufacturing, and others Among these end-users, the BFSI segment is expected to propel the growth of the market. Financial institutions rely on technical solutions to assist them to maximize their resources and procedures, as the business is prone to economic and financial crises. Multiple core-banking systems might conflict, limiting effective decision-making, therefore IT infrastructure in banks and financial institutions has to be updated on a regular basis. As a result, achieving cost-efficiencies or adequate integration between the two blended organizations becomes difficult. Furthermore, according to an IBM survey, more than half of banking and finance CEOs are working on simplifying their products and procedures in order to efficiently manage complexity.
The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, Notable launched End-to-End Revenue Cycle Workflow Automation Solution. The product’s assistance lets contact center personnel, programmers, and billing professionals focus on higher-complexity jobs by automating manual operations across the revenue cycle.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Deployment
- By Solution
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- IBM Corp., OpenText Corp., Oracle Corp., Software AG, Tibco Software Inc., Fujitsu Ltd., Ultimus Inc., BP Logix Inc., Signavio GmbH, and ASG Technologies Group Inc., among others.
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Global Enterprise Business Process Management Software Market Report by Segment
By Deployment
- On-Premise
- Cloud
By Solution
- Process Management
- Process Automation
- Content and Document Management
- Case Management
- Others
By End-User
- BFSI
- Government and Defense
- Healthcare
- IT and Telecommunication
- Retail
- Manufacturing
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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