The North America Process Mining Software Market would witness market growth of 38.1% CAGR during the forecast period (2020-2026). There are three ways in which digital transformation generally influences the companies: modification of the business model; alteration in the proposal of products & services; and variation in the value chain.
Digital transformation compels the companies to assess current processes to make important changes in order to improve productivity and customer experience. Thus, companies are switching toward process mining to improve the available process and for data-focused analyses to offer them real-time updates of their enhancements. Using Process mining, companies can gain a higher understanding & visibility of the real-time performance of business processes & operations prior to taking initiatives for automating & redesigning the processes. Advanced solutions are offered by different process mining software providers with an aim to simplify the business processes and assist enterprises audit, examine, and enhance their current business processes.
Generally, log and other data produced by business processes are analyzed by process mining software in order to improve the process and recognize automation opportunities for enterprises. Process mining software needs to adapt with business processing and properly interpret data from other software.
Event logs can be tracked using process mining software to recognize how IT or business processes are carried out by workers of a company. In addition to machine learning, few process mining solutions may offer actionable, beneficial insights to encourage process enhancement and data-driven decision-making for companies. In a case when an enterprise follows a business process management method, process mining solutions can simply offer real-time insights into the prebuilt workflow performance.
The US market dominated the North America Cloud Process Mining Software Market by Country 2019, and would continue to be a dominant market till 2026. The Canada market is experiencing a CAGR of 43.5% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 42.3% during (2020 - 2026).
The Large Enterprises market dominated the Canada Process Mining Software Market by Enterprise Size 2019, thereby, achieving a market value of $126.9 million by 2026. The Small & Medium Sized Enterprises market is showcasing a CAGR of 43.6% during (2020 - 2026).
Based on Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Sized Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Manufacturing, Retail, Logistics & Transportation, Healthcare and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Process Mining Software Market in North America is expected to register a CAGR of 38.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE (Signavio GmbH), Fujitsu Limited, Software AG, UiPath, Inc., Hyland Software, Inc., Kofax, Inc. (Thoma Bravo LLC), Apromore Pty. Ltd., myInvenio, ABBYY Solutions Limited, and Celonis GmbH.
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