Business Process Management Market (By Solution: Automation, Process Modelling, Content & Document Management, Monitoring & Optimization, Content & Document Management, Integration, Others; By Application: IT, BFSI, Manufacturing, Retail, Government & Défense, Healthcare, Others; By Deployment: On-premise, Cloud; By End-User: Large Enterprise, SMEs) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global business process management market size was exhibited at USD 15.9 billion in 2022 and is projected to hit around USD 71.24 billion by 2032, growing at a CAGR of 16.18% during the forecast period 2023 to 2032.

Key Pointers:

• The North American region captured more than 41% of the revenue share in 2022. 
• The automation solution segment is projected to grow at a noteworthy CAGR of 21.7% from 2023 to 2032.
• By 2032, the application segment holds the major market share and is predicted to grow at a CAGR of 21.9% from 2023 to 2032.
• The cloud-based deployment segment contributed more than 65% of revenue share in 2022. 
• The SME end-user segment is predicted to grow the largest growth between 2023 and 2032.

Business Process Management Market Report Scope

The benefits of deploying business process management (BPM) include improved business agility, complete visibility, increased efficiency, ensuring compliance and security, continuous improvement, and effortless transfer of business knowledge. Moreover, the companies offering BPM solutions include Accenture, Genpact, and International Business Machines Corporation (IBM), with a presence worldwide. The benefits of employing BPM and the easy availability of the solution worldwide combined have contributed to the growth of the BPM market.

The integration of AI into BPM has been a significant boost to the growth of the BPM market. The benefits of integrating AI include automation of repeated tasks, predictive analysis, improving customer experience, cost-effectiveness, and decision-making capabilities, among others. Moreover, the companies have been taking various initiatives toward artificial intelligence.

For instance, in November 2022, Infosys BPM announced the launch of the center for AI and automation in Poland in partnership with IBM. This center showcases a growing portfolio of AI and data solutions designed to accelerate and automate the hybrid cloud journey of businesses. Moreover, the center will complement Infosys BPM services offering, built with a design thinking approach. Such initiatives from the companies operating in the business process management market toward AI will drive the growth of the business process outsourcing market during the forecast period.

Many companies have been involved in various strategic initiatives such as partnerships, collaborations, and mergers acquisition, among others. These initiatives help companies offer BPM solutions with enhanced capabilities and reach a wider audience.

For instance, in September 2022, iGrafx, LLC. ( a U.S.-based BPM solution provider) announced its partnership with Zeitworks Technologies, Inc. (a U.S.-based software solution provider) to deliver AI-powered intelligent process management. The partnership enables the creation of a comprehensive process intelligent platform by linking task mining, process mining, predictive analysis, and discrete event simulation. Such initiatives are seen widely in the BPM market, thereby driving the growth.

The adoption of BPM in the healthcare industry is another factor that has been a major contributor to the growth of the BPM market from 2023-2030. The benefits of employing BPM in the healthcare industry includes enhancing clinical processes, streamlining administrative tasks, ensuring compliance, improving operational efficiency, minimizing errors and delays, and improving patient care. The large number of companies offering BPM solutions for healthcare functions, including Infosys Limited, Kissflow Inc., and BP Logix, Inc., among others, has paved the way for the market growth.

Moreover, governments worldwide have been increasing their spending on digitalization of the healthcare function, accelerating the growth of business process management in the healthcare industry. For instance, in May 2022, Tasmanian Liberal Government announced an investment of USD 150 million to upgrade their digital health infrastructure. The government will allocate the amount over the four years since the announcement; with the investment, the government plans include easy and convenient access to healthcare among local communities, reduced waiting time for services, less duplication of forms and care, and improved communications about the appointment.

North America held the largest share of more than 41% in 2022. The growth of this region can be attributed to various factors, including the rapid adoption of the latest technology, the home to the world's largest economy, and the presence of major companies such as Appian Corporation, Genpact, and International Business Machine Corporation, among others. The U.S. is home to around 6.1 million employer firms, according to the latest data published by U.S. Census Bureau in 2019. Many businesses in the country have also enabled wide adoption of BPM, contributing to the growth of the North America region.

Asia Pacific is projected to witness the highest CAGR of more than 20% from 2023 to 2032. The growth of this region can be attributed to rising economies such as India, which is undergoing a massive transition in digitalization. Moreover, the region is home to significant economies in the world, including China, Japan, and South Korea, which have been keen on adopting new technology, thereby driving the market growth. China and India are among the manufacturing hub in the world, which has contributed to the adoption of BPM among manufacturing industries in the region, thereby driving the growth. 

Some of the prominent players in the Business Process Management Market include:

• Software AG
• Pegasystems Inc.
• BP Logix, Inc.
• Open Text Corporation
• Nintex Global Ltd
• International Business Machines Corporation
• Accenture
• Tata Consultancy Services Limited
• SAP SE
• Appian Corporation
• Kissflow Inc.
• Red Hat, Inc.
• Infosys Limited

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Business Process Management market.

By Solution

• Automation
• Process Modelling
• Content & Document Management
• Monitoring & Optimization
• Content & Document Management
• Integration
• Others

By Application

• IT
• BFSI
• Manufacturing
• Retail
• Government & Defense
• Healthcare
• Others

By Deployment

On-premise

Cloud

By End-User

• Large Enterprise
• SMEs

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)