Business process management (bpm) market by 2024

Business Process Management (BPM) Market Analysis And Segment Forecasts To 2024

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Business Process Management (BPM) Market Analysis And Segment Forecasts To 2024 The global business process management (BPM) market is expected to reach USD 23.04 billion by 2024, according to a new study by Grand View Research, Inc. The growth is attributed to the increasing number of benefits offered by the BPM solution, including better productivity, ease of use, flexibility, and reduction in the time to wait for customers. The growing need for the integration of key functional areas in an organization is also expected to propel demand over the next eight years. The business process management software exhibits high avenues in various application areas, especially in the IT & telecom and healthcare sectors. This may be due to its capabilities of monitoring individual processes of the entire lifecycle.

Browse the report: http://www.orbisresearch.com/reports/index/business-process-managementbpm-market-analysis-by-solution-application-deployment-end-user-and-segment-forecasts-to2024 Organizations restructuring their business processes are most likely to adopt the BPM software.

Several regulations, including ObamaCare and (Single Euro Payments Area) SEPA, are analyzed to significantly catapult the demand over the forecast period. Obamacare focuses on providing affordable health insurance to the U.S. citizens with the introduction of new taxes and tax breaks.

The European Union introduced SEPA to simplify the inter-country bank transfers. Security concerns related to the cloud-based BPM solutions are anticipated to hinder the market growth.

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Business Process Management (BPM) Market Analysis And Segment Forecasts To 2024 North America dominated the industry with more than 30% share in 2015. This is attributed to its early adoption, primarily in the government and BFSI sectors. Asia Pacific is anticipated to witness a considerable growth owing to the large scale industrialization and emergence of several startups in India, China, and the ASEAN region.

Request a sample of the report: http://www.orbisresearch.com/contacts/request-sample/112796 The prominent industry participants include IBM Corp., Microsoft Corp., Oracle Corp., SAP SE, Appian Corp., and PegaSystems Inc. A strong focus on the research & development initiatives is helping solution providers to create its presence in the competitive environment. Merger & acquisition is also anticipated to be a key strategy used to diversify the developer’s competency to provide different solutions under a single roof.

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