Published On : 03 Oct 2016
QYResearchReports.com announces the addition of a new research report, titled “Global Business Process Management (BPM) PaaS Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021.” This report presents the current scenario and the development prospects of the market for business process management (BPM) and PaaS. It provides an overview of the industry and presents drivers and restraints that are likely to impact the market between 2016 and 2021. The study presents information regarding the prevailing trends in the market and the dynamic preferences of consumers in the BPM and PaaS industry.
A business process management platform as a service is a pre-integrated, cloud-based platform that delivers and executes general purpose business process application. This technology integrates data, service level agreements, business rules, and resources for effective management of business processes. Thus, they are in high demand from enterprises and businesses. According to the report, the key factor contributing to the growth of this market is the need to reduce the cost of business processes.
Although BPM and PaaS solutions on public cloud offer businesses the flexibility to run applications in a cost effective way, they do not have the same capabilities in terms of compliance and control as those offered by a private cloud architecture model. Thus, there is a rising trend among many organizations to adopt hybrid cloud technology to procure benefits offered by both private and public cloud models. However, lack of awareness about the potential of BPM PaaS software could pose a challenge to the growth of this market.
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The global business process management platform as a service market is segmented on the basis of deployment, end user, and geography. By end user, the market is segmented into BFSI, manufacturing, and retail. On the basis of deployment, the market is segmented into cloud and on-premises. On-premises BPM and PaaS is being utilized on a large scale owing to process and workflow automation with multiple applications and also because it can be integrated with internal applications. This ensures security of ownership as well as efficiency, thus driving the segment towards growth.
The global business process management platform as a service market has a number of medium and large sized vendors competing with each other in order to gain market shares. Key companies are extensively adopting merger and acquisition strategies to expand their geographical presence and increase their customer base. As this market is displaying high growth potential, it is appealing to new entrants. Thus, during the forecast period from 2016 to 2021, the market will witness the entry of several new players.
Key players in the market are IBM Corp., Pegasystems Inc., OpenText Corp., Adobe Systems Inc., Barium AB, BizFlow Corp., BP Logix Inc., Colosa Inc., Eccentex Inc., Edorasware AG, Fujitsu Ltd., and Kofax Inc.