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The Evolving Landscape of Business Process Management
The Evolving Landscape of Business Process Management

August 2, 2024

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In 2024, the Business Process Management market is on a dynamic trajectory, evolving to meet the changing needs of organizations. Driven by an unyielding quest for efficiency, heightened customer centricity, and the advent of advanced technologies, the BPM space is poised for significant transformation and growth in the coming years.

Indian BPM Market at a Glance

 

In India, the BPM sector is projected to grow by 3.3% y-o-y in FY24. BPM exports (excl. hardware) are expected to increase by 2.7% to USD 43.2 Bn, while domestic BPM revenue (excl. hardware) is forecasted to reach USD 5.7 Bn by FY24.

Global BPM Market Share by Region in 2023

 

Growth Pockets in Key Regions

 

Vertical Wise BPM Integration

 

Deployment Model

Based on the deployment model, the BPM market is divided into cloud-based and on-premises segments.

  • The cloud-based deployment segment contributed more than 64% of revenue share in 2023. Organizations are increasingly leveraging cloud-based BPM platforms due to their flexibility in accessibility, scalability, and cost-effectiveness. Cloud-based BPM allows businesses to deploy and manage their processes remotely, facilitating collaboration among geographically dispersed teams.

While cloud deployment dominates the BPM market, on-premises solutions maintain their relevance for organizations with specific security, compliance, or data governance requirements. Industries, such as finance and healthcare, where stringent regulatory compliance is paramount, prefer on-premises deployments to retain direct control over their infrastructure. On-premises BPM solutions provide a level of customization and security that suits certain enterprises, particularly those with legacy systems or sensitive data handling concerns.

 

Growth drivers for BPM in 2024

 

Challenges in BPM

 

As we move through 2024 and beyond, the focus on automation, emerging tech, and enhanced measurability will continue to shape the BPM landscape. Stay tuned for more information and insights in the upcoming blogs focused in this area.

 

 

Reference


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Prajwal Pandey
Research Analyst

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