Business Process Management Market size is poised to cross 52.34 billion USD by the end of 2035, witnessing around 13.50% CAGR during the forecast period, i.e., 2023 and 2035. In the year 2022, the industry size of business process management was over USD 11.67 billion. The major growth factor includes the increasing adoption of BPM in companies and workspaces. Businesses are increasingly realizing the benefits of BPM in terms of streamlined processes, reducing costs, and improving employee productivity. 74 percent of businesses say their organization's interest in BPM has increased, while 63% use one or two software applications for managing tasks, and 70 percent use one application to model processes.
Several companies are investing in BPM solutions to increase their productivity and scalability, which can lead to greater expansion. In 2020, Process Street raised USD 15 million over five rounds. UiPath has raised USD 2 billion in funding over 11 rounds since it acquired Process Gold. The vendor provides RPA and process mining services to organizations. The company raised USD 745 Million in funding on February 3, 2021.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~13.50% |
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Base Year Market Size (2022) |
~ USD 11.67 Billion |
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Forecast Year Market Size (2035) |
~ USD 53.34 Billion |
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Regional Scope |
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Solution (Process Management, Content, and Document Management, Process Automation, Application Integrations)
A market share of about 37% is predicted for the process automation segment in 2035. The rise of Artificial Intelligence (AI) and Machine Learning (ML) technologies has enabled businesses to automate processes, resulting in improved efficiency and cost savings. The automated processes help in increasing overall productivity. 90% of SMBs perform repetitive, time-consuming tasks, and automation has increased productivity for 66% of knowledge workers. It also provides features such as workflow automation, analytics, and reporting, which help improve customer experience and increase the accuracy and speed of operations.
Deployment (On-Premises, Cloud)
By 2035, the cloud segment in the business process management market is projected to hold an revenue share of about 54%. Increasing demand for cloud-based business process management solutions from companies of various sizes due to the cost-effectiveness, scalability, and flexibility they offer. Additionally, cloud-based solutions offer features such as real-time analytics, data security, and mobility which further boosts their adoption by businesses. They also enable businesses to quickly develop and deploy applications and services, as well as to access large datasets without the need to manage large IT infrastructure
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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Solution |
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End User |
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North American Market Forecast
North America business process management market is expected to reach 32% by 2035. Additionally, the region's market is expected to grow due to the rise of specialized solutions in the fields of robotics process automation (RPA), big data, and machine learning (ML). The presence of major companies in North America, combined with the rapid adoption of the latest technology, has enabled the region to become a hub for business process management. In the United States, there were an estimated 3.83 million small businesses by 2020, and by 2026, 126251 companies employing between 100 and 499 people will be established.
APAC Market Analysis
By 2035, the Asia Pacific business process management market is estimated to reach a share of about 28%. A growing need for operational efficiency, increased automation of back-office activities, and an increase in cloud computing services in the region have boosted the adoption of business process management. By 2026, cloud computing in India is estimated to contribute to 8% of the country's GDP. Additionally, the increased availability of high-speed internet services has enabled businesses to access cloud-based services without having to invest in infrastructure.
Author Credits: Abhishek Verma, Hetal Singh
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