Research Nester recently published report titled “Automotive BPM Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Automotive BPM Market in terms of market segmentation by component by component, by functionality, by deployment mode, by organization size and by region.
The Automotive BPM market is segmented by component, functionality, deployment mode, organization size and regions. Based on component, the market is segmented into solution and services. By functionality, the market is segmented into accounting & finance, sales & marketing, human resource management, operations & supply chain management and others. On the basis of deployment, the market is segmented into on-premise and cloud based. The market is further bifurcated into organization size such as large and SMEs. Various players in the market are concentrating to produce according to the taste and preferences of the customers within least cost without compromising with the quality and adapting to the technological advancements easily.
The global automotive BPM market is anticipated to expand at a CAGR of 13% during the forecast period i.e. 2019-2027. The market is observing vibrant growth on the back of the increasing demand for automation of the business processes as they think that it would help them generate more on revenues and outcomes. Further, the flexibility to respond to the changing business conditions within less cost and time is expected to support the growth of the market as integration of automotive and BPM helps to easily adapt to the changes required to survive or gain a competitive advantage in the business. The automotive BPM industries provide the customers with products as per their taste and preferences in least cost and of better quality which gives birth to increased customer satisfaction level contributing to significant growth of the market.
On the basis of regional analysis, the automotive BPM market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region out of which Europe is expected to grow rapidly in the market on the back of adoption of new way of business process and need of minimization in operational time. Asia- Pacific is expected to witness high growth in the global market on the back of Asia-Pacific emerging as an automotive destination. North America is expected to show a significant growth.
Adoption of automation in the businesses
Businesses are adopting automation in their processes as they think that it would help them to generate more revenues. Automation would help to reduce the cost and time of production with better quality as it would integrate processes to increase their capabilities. Automation would also help the business to understand the customer’s needs and preferences and produce accordingly thereby increasing the customer satisfaction level.
However, high initial cost of business process fusion technology and lack of knowledge about its benefits are expected to be major restraint towards the growth of the automotive BPM market during the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Automotive BPM Market which includes company profiling of SAP SE, Peoples Soft, Oracle, International Business Machines Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Automotive BPM Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.