Topics In Demand
Notification
New

No notification found.

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

August 2, 2024

92

0

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


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Prajwal Pandey
Research Analyst

© Copyright nasscom. All Rights Reserved.