Market Overview

Global Business Process Management Market to Exceed US$5.0 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.

Global Business Process Management Market to Exceed US$5.0 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Business Process Management (BPM) markets. The global market for business process management is projected to exceed $5.0 billion by the year 2017, led by organizational need to improve efficacy, efficiency and strategic value of critical business processes in various scenarios.

San Jose, CA (Vocus/PRWEB) April 11, 2011

Business Process Management (BPM) represents activities carried out by global enterprises in optimizing and adapting their business processes through the use of software tools. The global economic recession has emerged as a blessing in disguise for the evolving BPM market, providing a solution to deal with falling revenues and margins. The recession has affected the long-standing customer relationships of several businesses, forcing companies to focus efforts on adopting new initiatives for improving customer-centric processes. Adverse economic conditions have also brought to fore the significance of operational transparency, control and auditability, largely due to the cost-containment measures adopted by companies.

Globalization, commoditization, and intensely competitive environment are placing additional pressure on businesses to offer differentiated products, to protect overall margins. The need to streamline business operations and processes, achieve efficiency in the automated processes, reduce operational expenditure, enhance enterprise productivity, incorporate innovation, and gain competitive edge over rivals is driving businesses to adopt BPM functionality. Further, the highly regulated nature of the market implies that global businesses are required to adopt agility, transparency and control in their business processes, for coping with the adverse market conditions. With enterprise application platforms such as Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) not offering enough flexibility to incorporate rapid changes in operations management, particularly during the adverse economic environment, the significance of BPM continues to rise.

The United States and Europe account for a lion's share of the global business process management market, as stated by the new market research report on Business Process Management. However, Asia-Pacific is expected to register the fastest growth, among all regions, driven by the rising demand for business know-how and IT infrastructure. BPM adoption in developing economies such as India and China is expected to witness rapid growth owing to the increasing purchasing power of consumers and growing market for IT infrastructure. As the adoption of BPM is at nascent stage in the emerging economies, growth is expected to pick-up in the near future. Industries, schools, educational institutions and government bodies are increasingly adopting BPM software for enhancing the efficacy of present systems such as management of records and documents. Moreover, companies from the fields of marketing, telecommunications, construction and manufacturing are also increasingly employing BPM software.

The use of Web-based applications for implementing automated processes has been growing steadily in recent years, thereby enhancing the need for real-time analysis and availability of updated information. Cloud computing is rapidly gaining prominence and emerging as the core of BPM initiatives, due to its ability to provide up-to-date information in usable format. The combination of Internet and cloud computing is expected to foster growth in the BPM segment, with BPM expected to serve as a platform for providing private cloud services as many companies are focusing efforts on reducing overall costs through data center consolidation. Cloud computing offers BPM solutions at affordable prices and facilitates in building applications without any programming.

BPM vendor landscape is characterized by high degree of fragmentation. While new entrants can easily enter the market, existing players can extend their service offerings through consolidation or in-house improvements. Oracle and IBM are dominant players in the BPM sector. Players profiled in the report include Adobe Systems Incorporated, Appian Corporation, Fujitsu America Inc., Global 360 Inc., Hewlett Packard Development Company, IBM Global Services, Intalio Inc., Metastorm Inc, Microgen plc, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., Progress Software Corporation, Red Hat Inc., SAP AG, Software AG, TIBCO Software Inc., and Vitria Technology Inc.

The research report titled “Business Process Management (BPM): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report analyzes the market by the following geographic markets – US, Canada, Europe, Asia-Pacific, and Rest of World.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Business_Process_Management_BPM_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

E-mail: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

###

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebbusiness_process/management_BPM/prweb8285965.htm

 

Around the Web, We're Loving...

Get Benzinga's Newsletters