HOME › Research Insight › The key players in the BPM market include IBM, Software AG, Appian, Oracle Corporation, Pegasystems, RedHat, Opentext, TIBCO Software, K2, and BPLogix.
The key players in the BPM market include IBM, Software AG, Appian, Oracle Corporation, Pegasystems, RedHat, Opentext, TIBCO Software, K2, and BPLogix.
The increasing need for quick action, insights, and analysis on dynamic business events and for making business processes more efficient have made it inevitable for large enterprises and Small And Medium Enterprises (SMEs) to adopt Business Process Management (BPM) solutions and services. Enterprises around the world are realizing the fact that BPM is not just limited to analyzing business process effectiveness and efficiency, but it also includes much more sophisticated use cases, such as digitalization, automation and virtualization, and the real-time analysis of data collected from business events. MarketsandMarkets forecasts the BPM market size to grow from USD 6.96 Billion in 2016 to USD 13.52 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.2% from 2016 to 2021.
The key players in the BPM market include IBM, Software AG, Appian, Oracle Corporation, Pegasystems, RedHat, Opentext, TIBCO Software, K2, and BPLogix. These players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to achieve growth in the global BPM market.
The BPM market witnessed many new product launches by key players from 2013 to 2015. IBM launched IBM Business Process Manager, which is based on cloud and has been integrated with case handling to enhance mobile user interfaces. Oracle launched its Oracle Enterprise Metadata Management 12 to extend its business intelligence portfolio and provides organizations with BPM. TIBCO Software launched its new Fast Data platform, which would help enterprises to understand and act upon the data of all sizes. Appian launched a new version of its BPM Suite, the Appian 7 BPM Suite, which offers quick response and efficient business process decision-making capabilities.
The key players also adopted the strategy for mergers & acquisitions to increase their geographic presence and expand their product portfolio to untapped markets. IBM acquired StrongLoop, Inc., the leading provider of application development software integrated with cloud. This acquisition will let IBM assist its clients in having a better understanding of business application usage and in making better decisions on whether to conduct transaction on cloud or on-premises. Oracle acquired BluKie to strengthen its big data portfolio. Oracle acquired Responsys to strengthen its cloud service portfolio. Software AG acquired Apama, a Complex Event Processing (CEP) platform provider company, for the dynamic growth of its BPE business segment. Apama CEP allows customers to fully design, test, monitor, and control the industrial internet.
The major players also partnered with leading companies to serve reputed clients across the globe. Appian Corporation and Triad Retail Media entered into a partnership to accelerate the digital business process operations. This partnership provided Appian with an opportunity to further expand its customer base in the retail industry by providing digital marketing operations campaign to some leading retailers. Red Hat, Inc. announced the extension of its partnership with Wipro. With this extended partnership, both the companies would collaborate and deliver enterprise grade cloud solutions and DevOps solutions. Pegasystems, Inc. entered into a partnership with ATOS, to expand its reach and target global companies. This partnership will also help Pegasystems improve its customer service through better product offering in BPM.
BPM solutions and services vendors around the word are continuously adding innovation to their products and services to serve reputed clients manage and analyze their expanding business process management. Also, BPM solutions and services are being increasingly adopted by large enterprises and SMEs, which has led to the growth of the market across the globe.
Business Process Management Market by Solution, by Service, by Deployment Type (Cloud, On-Premises), by Organization Size (SMES, Enterprises), by Business Function, by Industry Vertical, by Region (NA, Europe, APAC, MEA, LA) - Global Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India