Business process management is a combination of methods that are used to manage a company's business processes. It helps in analyzing end-to-end process, modelling how it works in different fields, suggesting improvements, monitoring and optimizing the process. BPM services enable businesses to respond to change with agility. Enterprises today need next-generation process management to achieve operational efficiency and contextual user experience. There are four stage of BPM includes document, assess, improve, and manage. BPM is designed in such a manner to ensure that a company automates its business process management in a safe way. Adoption of cloud computing is the major driving factor for the target market growth. The banking, financial service and insurance sectors pose a significant rise for BPM. The changing methods and to achieve a success in all sectors are the main factor that rise the demand for BPM.

Region Analysis:

In the business process management as a service market, North America is expected to accounts a major revenue in this market. However, benefits, such as improved agility and flexibility to develop new applications more quickly, hold significance. Moreover, this region acts as the base for the leading global cloud providers, contributing to huge share of cloud storage. This region is the huge developer of data, this makes them to boost in this market.

Key Development:

• In 2020, Appian and Celonis gets into partnership, for accelerating the digital transformation platform.
• In 2020, Nintex signed an agreement with Auswide Bank to accelerate its business process, by process mapping, management and automation capabilities of the Nintex Process platform.

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Segmentation:

The Global Business Process Management as a Service Market accounted for US$ 17.34 billion in 2020 and is estimated to be US$ 171.17 billion by 2030 and is anticipated to register a CAGR of 26.0%.  The Global Business Process Management as a Service Market is segmented by deployment, end users and Region.

• By deployment, the Global Business Process Management as a Service Market is segmented into Cloud BPM and On-Premise BPM
• By End Users, the Global Business Process Management as a Service Market is classified into BFSI, Manufacturing, and Retail
• By region, North America market is expected to account for major revenue share in Global Business Process Management as a Service Market, followed by other regions.

Competitive Analysis:                                                                                                 

The key players operating in the Global Business Process Management as a Service Market includes IBM, OpenText, Pegasystems, CSC, Oracle and SAP SE, Accenture, Red Hat, and Wipro.