North America Business Process Management Market Size, Share & Industry Trends Analysis Report By Business Function, By Vertical, By Deployment Mode (Cloud and On-premise), By Organization Size (Solution and Services), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Business Process Management Market would witness market growth of 18.6% CAGR during the forecast period (2022-2028).
BPM can be incorporated within the mechanisms of business at any level. Though, they are mostly preferred to be concentrated in just one aspect. As a result, these can be integration-centric, document-centric, and human-centric. Additionally, most BPMs can do these but still have a specialty.
The integration-centric BPMs help manage processes that move among the existing systems within an organization and do not need much human involvement. These have comprehensive API and connector access enabling them to generate fast-paced processes. The human-centric BPM are developed for non-autonomous processes or process that may involve human interaction.
These mainly concentrate on approvals and tasks and have features like a user-friendly interface, quick tracking, and easy notifications. Finally, the document-centric BPM manages processes involving documents. These enable formatting, verifying, routing, and signing the records per the task's movement.
In this region, many organizations have voiced their need for change in business processes to decrease operating costs and increase productivity. This was reported by a survey conducted by the State of BPM. It also mentioned that many companies also demand improved flexibility, the ability to deploy novel applications, and enhanced agility. As a consequence, the implementation of BPM solutions has gained momentum.
The US market dominated the North America Business Process Management Market by Country in 2021; thereby, achieving a market value of $10,258.2 million by 2028. The Canada market is poised to grow at a CAGR of 21.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 20.2% during (2022 - 2028).
Based on Business Function, the market is segmented into Accounting & Finance, Sales & Marketing, Procurement & Supply Chain Management, Human Resource Management, Customer Service Support and Others. Based on Vertical, the market is segmented into IT, BFSI, Telecom, Retail & eCommerce, Government & Defense, Healthcare & Life Sciences, Manufacturing and Others. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is Automation & Process Modelling, Content & Document Management, Monitoring & Optimization, Integration and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Business Process Management Market is Predict to reach $40.6 Billion by 2028, at a CAGR of 19.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Pegasystems, Inc., Oracle Corporation, Software AG, Tibco Software, Inc. (Vista Equity Partners), Genpact Limited, Newgen Software Technologies Limited, Nintex, Inc., Appian Corporation, OpenText Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Business Function
- Accounting & Finance
- Sales & Marketing
- Procurement & Supply Chain Management
- Human Resource Management
- Customer Service Support
- Retail & eCommerce
- Government & Defense
- Healthcare & Life Sciences
By Deployment Mode
By Organization Size
- Large Enterprises
- Automation & Process Modelling
- Content & Document Management
- Monitoring & Optimization
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Pegasystems, Inc.
- Oracle Corporation
- Software AG
- Tibco Software, Inc. (Vista Equity Partners)
- Genpact Limited
- Newgen Software Technologies Limited
- Nintex, Inc.
- Appian Corporation
- OpenText Corporation
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