Business Process Management (BPM) Market 2016 Size, Share, Trend, Growth, Research, Industry Analysis and Forecast by Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 02/04/2016 -- BPM software is a tool used to simulate, automate, and monitor the business processes of an organization. It helps organizations to determine future strategies. It increases profitability by optimizing business processes through its various components such as a process designer, process engine, rules engine, and process analytics. A process designer assigns logic to the process after analyzing it and the process engine allocates automated activities to applications and manual operations to employees. The rules engine ensures that the process adheres to the business rules and process analytics provides feedback on process performance.
Global Business Process Management market will grow at a CAGR of 15.87% over the period 2013-2018.
Commenting on the report, an analyst said: "Enterprises across the globe are witnessing increased adoption of cloud computing for their requirements. Enterprises have now realized that the cost benefits associated with adopting cloud-based services, as it offers various advantages such as rapid scalability, easy access, uninterrupted service, and flexibility. These factors are responsible for the higher adoption of cloud services, and organizations are slowly moving their products and services into the cloud. Thus, organizations now prefer software through the cloud model to deploying licensed versions of the BPM software. Therefore, adoption of cloud-based solution is a major trend in the market."
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Covered in this Report
The Global Business Process Management market can be divided into two segments: Human-centric BPM and Integration-centric BPM. The report describes the size of the market based on the total software revenue generated from the issue of new licenses, installations, updates, subscriptions, technical support, and software maintenance, but it excludes the revenue from professional services and the sale of hardware.
Global Business Process Management Market 2015-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions; it also covers the Global Business Process Management market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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According to the report, one of the major drivers is the need to improve productivity and competitive advantage. Organizations achieve competitive advantage by providing innovative solutions and delivering operational excellence. The various business operations such as supply chain, product development, and customer service are performed by vertical departments of an organization including Finance, Manufacturing, Human Resources, Sales and Marketing. BPM software optimizes such business processes, and also improves quality control and inventory control. This in turn, enhances the productivity and efficiency of the organization.
Further, the report states that one of the major challenges faced by enterprises in the market is the high cost of implementation. As deployment of BPM software is an expensive process, its applications need a very conservative and usually expensive process of defining requirements. Hence, implementing a complete traditional BPM solution is a time-consuming process. This increases the criticality of the process as it becomes very costly to make any changes once the deployment has started.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are AgilePoint Inc., Appian Corp., Bizagi Ltd., Cordys Inc., Fujitsu Ltd., Global 360 Inc., Handisoft Global Corp., Intalio Inc., K2 Software Inc., Metastorm Inc., OpenText Corp., Pallas Athena Corp., PNMsoft Ltd., Polymita Inc., Progress Software Inc., SAP AG, Software AG, and Tibco Software Inc.