Mobile Business Process Management Market Overview
The global mobile business process management market size was at about $14 billion to $16 billion as of 2018, as per the evaluations of this business intelligence report. And, the analyst projects the demand to be incrementing at a CAGR ranging from 5% to 6% during the forecast period of 2019 to 2025. Geographically, the European region grabbed the largest market share of around 32% to 35% as of 2018. And, in terms of application segments, the healthcare sector is the most lucrative vertical for the mobile business process management companies, increasing at a significant CAGR of 7% to 8% during the aforementioned forecast period.
Mobile Business Process Management Market Outlook
Mobile business process management is an effective technique to insure workflow in business through real-time access via the Internet on mobiles. Emerging mobile application (App) trend has engulfed all business identities that directly deal with customers. Cloud-based enterprise application used by the banking, tourism, and e-commerce sector are some of the great applications of business process management (BPM). The mobile business process management market is escalating owing to the portability factor at remote locations, improved business responsiveness, and increased productivity because of real-time data updates.
Mobile Business Process Management Market Trends
Consumer packed goods (CPG) company, J.M. Smucker Co. implemented the Oracle business process management software for providing an enterprise resource planning system. According to Oracle, the execution of this system helped the J.M. Smucker Co. to grow from a $500 million company to a $5 billion company in a span of ten years.
Mobile Business Process Management Market Growth Drivers
The proliferating trend of work from home at numerous corporate sectors is driving the mobile BPM market. This method of business allows employees to run their daily tasks through their mobiles at remote locations and at their offices as well. This procedure of business is flourish owing to the scalability and data networking offered through cloud computing technology.
The rise in technologies such as IoT, big data, and artificial intelligence are going to play a massive role in the adoption of mobile business process management. With such an uptake of these innovative emerging technologies, the BPM market revenue is definitely expected to rise exponentially.
Mobile Business Process Management Market Challenges
The reliability on cloud-based business is arguably the most important challenge in the business process management market. Although cloud computing is responsible for infinite successful businesses, it has been affected by a series of cybercrimes in recent years. According to Cisco, every 40 seconds a business falls victim to a ransomware attack and a few of the largest shipment business faces losses of almost $300 million each year. Irrespective of such instances, innovations from key players as well as start-ups are being carried out to improve the efficiency related to security.
The inconsistency of the Internet in remote areas is an impediment to the mobile business process management marketplace. The Internet is one of the most important factors for the BPM market as it provides the medium to establish an online business. However, the increasing presence of the Internet service providers in remote locations is supposedly going to improvise the network condition is such areas.
Key Players in the Mobile Business Process Management Market
Some of the dominating influencers in the mobile business process management market are:-
IBM Corporation, Fujitsu, Oracle Corporation, Opentext Corporation, Software AG, Appian, Pegasystems Inc., Dell EMC, Hyland Software, Inc. , and Tibco Software.
Mobile Business Process Management Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the mobile business process management market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of mobile business process management market, and their specific applications in different types of vehicles.
Mobile Business Process Management Market Report: Industry Coverage
The mobile business process management (BPM) market is segmented based on solution into automation, integration, and others. Based on service it is classified into maintenance and support, integration & deployment, and others. On the basis of deployment, this market is bifurcated into private and public cloud. Further industrial segmentation are automobiles, telecommunications, BISF, and other industries. Forecast period that is being looked upon is 2019-2025.
The mobile business process management market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Midadle East and Africa: Israel, South Africa, Saudi Arabia