The global process mining market is projected to register a CAGR of 45.6% during the forecast period, reaching USD 12.1 billion by 2028 from an estimated USD 1.8 billion in 2023. Major factors propelling the growth of process mining include the increasing complexity of business processes, the rising adoption of digital transformation, which facilitate easier access to process mining tools and products, and the growing need for process visibility and control, reflecting a fundamental shift in how organizations approach operational efficiency and business optimization.
Some leading players in the process mining market include IBM (US), ABBYY (US), Celonis (US), UiPath (US), Software AG (Germany), SAP Signavio (Germany), Pegasystems (US), Kofax (US), QPR Software (Finland), Microsoft (US), Mehrwerk (Germany), Soroco (US), iGrafx (US), Nintex (US), Appian (US), and Automation Anywhere (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the process mining market.
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IBM is a major player in software development, providing operating systems, middleware, database management systems, and analytics software. IBM in process mining market leverages its core competencies in advanced analytics and artificial intelligence, IBM focuses on delivering cutting-edge solutions that empower organizations to optimize their business processes. The company employs a multifaceted approach, combining innovative software development, strategic partnerships, and continuous research to stay at the forefront of the process mining landscape. By seamlessly integrating data-driven insights into business operations, IBM enables clients to enhance efficiency, reduce costs, and drive informed decision-making. Through a commitment to technological excellence and collaboration, IBM remains to be one of the pivotal players in shaping the future of process mining solutions.
Celonis is one of the leading process mining companies that uses innovative technology to provide businesses with deep insights into their processes. Celonis is known for its expertise in data-driven process optimization, and it uses sophisticated algorithms to analyze event logs and identify inefficiencies. Celonis's main goal is to help organizations improve their transparency, efficiency, and agility. Celonis is skilled at turning raw data into actionable insights, which allows businesses to streamline their operations and increase productivity. Celonis's core activities include developing and deploying advanced process mining solutions that help customers visualize, analyze, and optimize their processes. Celonis is committed to continuous innovation, and it plays a key role in shaping how businesses approach and improve their workflows in the rapidly changing process mining market.
UiPath, a prominent automation platform provider, extends its influence in the process mining market through a robust set of strategies, competencies, and activities. UiPath process mining, an integral part of their offerings, facilitates the discovery, monitoring, and improvement of business processes by analyzing event logs from IT systems. Notably, UiPath strategically integrates its process mining with the automation platform, allowing seamless automation directly from the mining tool. Emphasizing user-friendly interfaces, even for novices in process mining, and competitive pricing, UiPath ensures accessibility for a diverse range of organizations. Core competencies include automated data discovery, process visualization, and insightful analysis, coupled with recommendations for process enhancement. Engaging in continuous product development, active sales and marketing efforts, and strategic partnerships, UiPath solidifies its position as one of the pivotal forces in the dynamic landscape of process mining.
Process Mining Market by Offering (Software (Process Discovery Tools, Conformance Checking Tools), Services), Mining Algorithm (Deep Learning, Sequence Analysis), Data Source (ERP Systems, CRM Systems), Vertical and Region - Global Forecast to 2028
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