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BPM reported to increase 14.2% CAGR by 2021

The business process management (BPM) market size is estimated to grow from USD 6.96 billion in 2016 to USD 13.52 billion by 2021. The market is expected to increase at a compound annual growth rate (CAGR) of 14.2% from 2016 to 2021 driven by factors such as the need to improve efficiency and visibility, adhere to increasing government compliance, and to increase the overall Return of Investment.

BPM’s expected increase and market domination from 2016 to 2021 is the result of the demand from growing business compliance challenges faced by the organizations worldwide. Also, the demand for integration and consult services is expected to gain traction in the next five years.

These data are collated from a complete report on global business process management (BPM) market that includes 136 pages, profiling 10 companies and supported with 67 tables and 59 figures which is available in this link.

The different key BPM market vendors profiled in the report such as IBM Corporation, Appian Corporation, Oracle Corporation, Red Hat, Inc., Software AG, Pagasystems, TIBCO Software, K2, OpenText and BPLogix.

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (42%) and Tier 3 (38%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (55%), Director Level (26%) and others (19%) from various key organizations operating in the global business process management (BPM) market. The primary interviews were conducted worldwide covering regions such as North America (47%), Europe (32%), and APAC (21%).

On a related note, another research on Revenue Management Market Global Forecast to 2020 says, the revenue management market size is estimated to grow from USD 9.27 billion in 2015 to USD 21.92 billion by 2020, at a CAGR of 18.8% due to the increasing cloud-based deployments of revenue management platforms and solutions. Pricing and revenue forecast management solution to dominate during the forecast period. Asia-Pacific is to witness highest growth during the forecast period. Companies like Accenture PLC, Amdocs, Inc., Ericsson, Netcracker Technology Corporation, Oracle Corporation, CSG Systems International, Huawei Technologies, Redknee Solutions, SunTec Business Solutions and SAP SE have been profiled in this 166 pages research report available at this link.

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