New York, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Business Process Management as a Service (BPMaaS) Market by Deployment, End-users, and Geography - Forecast and Analysis 2020-2024" - https://www.reportlinker.com/p05827596/?utm_source=GNW
Our study also finds the sales of BPMaaS in APAC, Europe, North America, South America, and MEA. In 2019, the BFSI segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rapid digitalization, the advancement of technologies, and an increase in the number of tech-savvy customers will play a significant role in the BFSI segment to maintain its market position. Also, our global BPMaaS market report looks at factors such as increasing demand for process automation, demand for efficient business processes, and increasing adoption of cloud-based services. However, data security and privacy issues, integration and implementation issues, and lack of commitment toward BPM solutions may hamper the growth of the BPMaaS industry over the forecast period.
Global Business Process Management as a Service (BPMaaS) Market: Overview
Increasing demand for process automation
Enterprises across industries such as BFSI, retail, and manufacturing are increasingly adopting BPMaaS solutions to automate both internal and external processes that involve customers, partners, or suppliers and self-service applications. BPMaaS can be integrated with artificial intelligence (AI) to make intelligent decisions and increase flexibility and efficiency in every process. With the growing demand for automation and digital transformation, the global BPMaaS market will grow at a CAGR of over 31% during the forecast period.
Emergence of iBPM
iBPM solutions are the advancement of traditional BPM solutions to include features such as cloud computing, event processing, systems interlinking, and real-time decision-making. iBPM leverages advanced technologies, such as big data, machine learning, cloud computing, and mobility and social features, to enhance processes, including cloud messaging, message-oriented middleware, complex event processing, loT integration, and business activity monitoring. The goal of iBPM is to leverage advanced technologies to produce automated, meaningful data analytics for automating processes and improving efficiency. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of a few major players, the global BPMaaS market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading BPMaaS manufacturers, that include Appian Corp., BP Logix Inc., BPMONLINE Ltd., International Business Machines Corp., OpenText Corp., Oracle Corp., Pega Systems Inc., SAP SE, Software AG, and TIBCO Software Inc.
Also, the BPMaaS market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05827596/?utm_source=GNW
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The global BPMaaS market will grow at a CAGR of over 31% during the forecast period
Global Business Process Management as a Service (BPMaaS) Market: About this market This business process management as a service (BPMaaS) market analysis considers sales from BFSI, manufacturing, retail, and other end-users.
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