The Global Process Analytics Market Size will Hit $5 Billion by 2028, at a CAGR of 42.1%

Published Date: 28-Jul-22

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Process Analytics Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Process Analytics Market size is expected to reach $5 billion by 2028, rising at a market growth of 42.1% CAGR during the forecast period.

The On-premise market is generating high revenue in the Global Process Analytics Market by Deployment Type in 2021, thereby, achieving a market value of $2.7 billion by 2028. On-premises process analytics software deployment necessitates dedicated equipment and servers. In addition, on-premises software is typically used by companies that can afford to manage dedicated servers.

The Process Conformance market shows high growth rate of 42.4% during (2022 - 2028). This is due to its capabilities for process conformance assessments, where event logs are compared to ideal processes. This helps top management to monitor and manage the redesigned business process and take actions, if required. Process conformance checking is a strategy for comparing event logs or a live process to the process's present reference model, or target model.

The Large Enterprises market is leading the Global Process Analytics Market by Organization Size in 2021, thereby, achieving a market value of $3.3 billion by 2028. Process analytics solutions enable large enterprises to monitor and govern complicated business and information technology (IT) processes, which is driving this growth. Better business process analytics ultimately make a positive impact on end products and services of large enterprises, resulting in higher customer acquisition & retention, because large enterprises are highly conscious about their brand image, and losing significant number of loyal customer base will make a bad impact on brand image of such large organizations.

The Information Technology Process market is showcasing a CAGR of 42.4% during (2022 - 2028). The manipulation of digitized information by computers and other digital electronic equipment, together known as information technology, is referred to as the information technology process (IT). Information processing systems comprise business software, computers, operating systems, networks, and mainframes.

North America market is the fastest growing region in the Global Process Analytics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.8 billion by 2028. The Europe market would witness a CAGR of 41.2% during (2022 - 2028). Additionally, The Asia Pacific market is experiencing a CAGR of 43.4% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/process-analytics-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Minit j. s. a. (Microsoft Corporation), ABBYY Solutions Limited, Celonis GmbH, Worksoft, Inc. (Marlin Equity Partners), Scheer Gmbh (Scheer Group), Monkey Mining BV, Fluxicon BV, Icaro Tech, Kofax, Inc. (Thoma Bravo LLC) and Logpickr (iGrafx, LLC)

Global Process Analytics Market Segmentation

By Deployment Type

  • On-premise
  • Cloud

By Process Mining Type

  • Process Discovery
  • Process Conformance
  • Process Enhancement

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

By Application

  • Business Process
  • Information Technology Process
  • Customer Interaction

 By Geography

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