The global business process management (BPM) market revenue was around US$ 15.4 billion in 2022 and is estimated to reach US$ 65.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 15.8% during the forecast period from 2023 to 2032.

Business process management (BPM) is a complete approach to improving the effectiveness and efficiency of the organization by documenting, optimizing, and controlling its business functions. It entails the systematic execution, design, monitoring, and ongoing advancement of these procedures to accomplish particular objectives and goals. It includes mapping, identifying, and analyzing these methods to understand their outputs, inputs, and interactions. Once processes are documented, BPM desires to facilitate them by eliminating blockages, redundant steps, and inefficiencies.

Factors Influencing Market Growth

- The rise in products launched to improve business process management and the adoption of developed technologies are some of the trends flourishing the growth of the business process management market.

- The upfront costs and the time needed for BPM implementation are hindering the growth of the business process management (BPM) market.

- The growing focus on customer experience and the increasing demand for personalized services deliver fertile ground for BPM-driven improvements. This is anticipated to boost the growth of the business process management (BPM) market in the future.

Impact of COVID-19

The impact of the COVID-19 pandemic had a complicated influence on the business process management (BPM) market. In the early phases of the pandemic, many organizations encountered disturbances in their functions due to remote work mandates, lockdowns, and supply chain challenges. This crisis caused companies to review their processes and prioritize BPM to adjust to the new normal. As a result, there was a surge in demand for BPM solutions that could allow businesses to optimize their workflows for remote work, handle supply chain disturbances, and assure business continuity.

Regional Analysis

In 2022, North America dominated the global business process management (BPM) market in terms of revenue. This is attributed to the fact that the BPM industry is thriving in this region because of the well-established and developed corporate environment.

Also, Asia-Pacific is anticipated to grow significantly in the business process management (BPM) market during the forecast period. This is attributed to the fact that the countries in the Asia-Pacific region are adopting digital transformation, propelling the demand for BPM solutions to streamline and automate processes. Enterprises are recognizing the significance of digital technologies in achieving a competitive edge.

Leading Companies

The leading prominent companies profiled in the global business process management (BPM) market are:

- Pegasystems Inc.
- Appian
- IBM Corporation
- Oracle
- Software AG
- Open Text Corporation
- Genpact
- ProcessMaker
- Kofax Inc.
- BP Logix, Inc.
- Other prominent key players

Segmentation Outline

The global business process management (BPM) market segmentation focuses on Industry Vertical, Component, Business Function, and Region.

Segmentation based on Industry Vertical

- BFSI
- IT and Telecom
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Manufacturing
- Others

Segmentation based on Component

- Solution
- Service

Segmentation based on Business Function

- Human Resource Management (HRM)
- Procurement and Supply Chain Management (SCM)
- Sales and Marketing
- Accounting and Finance
- Customer Service Support
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa