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With 49.5% CAGR, Process Mining Software Market Size Worth USD 15,546.4 Million in 2029

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Pune, India, May 06, 2022 (GLOBE NEWSWIRE) — The process mining software market size reached USD 627.0 million in 2021. The market value is anticipated to increase from USD 933.1 million to USD 15,546.4 million by 2029 at a CAGR of 49.5% during the forecast duration. Process mining software analyzes event log data to better understand how a business operates and identify inefficiencies and stoppages in the process, says Fortune Business InsightsTM in its report titled, “Process Mining Software Market, 2022-2029”.

Key Industry Development-

March 2020: Celonis GmbH teamed up with Infosys Limited to provide ERP upgrade and process optimization services. The companies will work together to provide digital assistance for clients looking to scale SaaS applications.

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Report Coverage Details
Forecast Period 2022-2029
Forecast Period 2022 to 2029 CAGR 49.5%
2029 Value Projection USD 15,546.4 million
Base Year 2021
Process Mining Software Market Size in 2021 USD 627.0 million
Historical Data for 2018-2020
No. of Pages 140
Segments covered By Type, By Enterprise Size, By End-user, and Regional
Process Mining Software Market Growth Drivers Implementation of AI to Surge Demand for Process Mining Software
Privacy and Security Issues to Hamper Market Growth

Drivers & Restraints-

Implementation of AI to Drive Demand for Process Mining Software

Artificial intelligence and process mining are being pursued by software firms. This integration enables real-time analysis and gives businesses more opportunities to improve their operational capabilities. Machine learning and deep learning are two AI techniques that provide a variety of advantages such as larger datasets, business intelligence, and richer event logs. According to Accenture’s Process Reimagined report from 2018, 88% of businesses that used machine learning in their business processes saw a 200% improvement. In addition, combining AI with process mining is expected to improve customer service and increase corporate revenues. The software collects personal information about the user, putting their privacy at risk. It lacks the user’s data safety and security, which may hamper the process mining software market growth.

Rising Uncertainty during COVID-19 Pandemic to Boost Demand

The pandemic significantly impacted customer behavior and business operations across industries. Lack of resources as geographic borders closed also significantly impacted the manufacturing, logistics, and transportation industries. This slowed the market growth for a while. Low sales, supply chain disruption, remote working environments, and a limited workforce, on the other hand, hastened the adoption of digital and automation technology.

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Segmentation-

By Type, Growing Demand for Quick Insights to Drive Process Mining Software Market

On the basis of type, the market is bifurcated into cloud-based and on-premises.

Cloud-based is expected to gain the most market share during the forecast period and grow the fastest. Cloud-based process mining software is in high demand due to increasing adoption of cloud technologies in industries.

By Enterprise Size, Operation Optimization is Available in Large Enterprises

The market has been studied for large enterprises and small & medium enterprises based on enterprise size.

Large enterprises were among the first to use the software and are expected to account for the lion’s share of revenue during the forecast period. Small & medium-sized businesses are expected to grow rapidly due to their low cost and excellent capabilities.

By End-user, High Emphasis on Automation to Boost Software Adoption in BFSI  

Based on end-user, the process mining software market is categorized into BFSI, healthcare, retail, manufacturing, IT & telecommunication, logistics & transportation, and others (energy & utilities and others)

The BFSI industry is expected to gain the greatest share of the market during the forecast period. The growing use of automation and a large client base will most likely surge the demand for process mining software in the BFSI industry.

During the forecast period, the healthcare industry is expected to grow exponentially. The growing popularity of smart and wearable medical devices increases the demand for software that can provide related insights.

Geographically, the market is classified into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

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Report Coverage-

The report highlights leading regions to provide the user with a better understanding. Furthermore, the report delves into the most recent industry growth trends and analyzes technologies deployed at a rapid pace on a global scale. It also includes some of the market’s drivers and restraints, trends, company profiles, and other information to help the reader understand the market.

Regional Insights-

Europe to Dominate the Global Market Share

During the forecast period, the process mining software market share in Europe is expected to dominate the global market. The rapidly expanding digital transformation across industries is surging the demand for software in European countries.

The market in North America is expected to grow exponentially during the forecast period, owing to an increase in demand for advanced technologies to optimize business processes. The increasing use of automation fuels the demand for software that can handle massive amounts of data.

Due to increased business competition in the region, Asia Pacific is expected to grow steadily during the forecast period. With increasing automation, China, Japan, and South Korea show significant potential for the process mining automation market in the coming years.

Competitive Landscape-

Major Players Are Collaborating and Forming Partnerships to Expand their Businesses

Companies are investing in advanced technology integration to improve the efficiency and capabilities of the software. They collaborate, acquire, and partner with the service industry to develop innovative digital transformation solutions for businesses.

List of Key Players Profiled in Process Mining Software Market Report:  

  • UiPath (U.S.)
  • Celonis GmbH (Germany)
  • Exeura (Italy)
  • Fluxicon BV (Netherlands)
  • Fujitsu Ltd. (Japan)
  • Hyland Software, Inc. (U.S.)
  • Minit (Slovakia)
  • QPR Software Plc (Finland)
  • Software AG (Germany)
  • ABBYY Solutions Ltd. (U.S.)

Major Table of Contents:

  • Global Process Mining Software Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Cloud-based
      • On-premise
    • By End User (USD)
      • BFSI
      • Healthcare
      • Retail
      • Manufacturing
      • IT and Telecommunication
      • Logistics and Transportation
      • Others (Energy and Utilities, etc.)
    • By Enterprise Size (USD)
      • Large Enterprises
      • Small and Medium Enterprises (SMEs)
    • By Region (USD)
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia Pacific
  • North America Process Mining Software Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Cloud-based
      • On-premise
    • By End User (USD)
      • BFSI
      • Healthcare
      • Retail
      • Manufacturing
      • IT and Telecommunication
      • Logistics and Transportation
      • Others (Energy and Utilities, etc.)
    • By Enterprise Size (USD)
      • Large Enterprises
      • Small and Medium Enterprises (SMEs)
    • By Country (USD)
      • United States
        • By End User
      • Canada
        • By End User
      • Mexico
        • By End User
  • South America Process Mining Software Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Type (USD)
      • Cloud-based
      • On-premise
    • By End User (USD)
      • BFSI
      • Healthcare
      • Retail
      • Manufacturing
      • IT and Telecommunication
      • Logistics and Transportation
      • Others (Energy and Utilities, etc.)
    • By Enterprise Size (USD)
      • Large Enterprises
      • Small and Medium Enterprises (SMEs)
    • By Country (USD)
      • Brazil
        • By End User
      • Argentina
        • By End User
      • Rest of South America

TOC Continued…!

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Artificial Intelligence

Reliance Cyber and Google Cloud Security unite to transform cybersecurity for UK businesses

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LONDON, May 28, 2024 /PRNewswire/ — Leading Managed Security Service Provider (MSSP), Reliance Cyber has been selected as one of only four MSSPs to partner with Google Cloud Security (GCS). This collaboration is set to make cybersecurity more effective and less complicated for businesses throughout the UK and Ireland.

Why this matters:In today’s complex security environment, businesses face a multitude of challenges, including escalating cyberattacks, an overwhelming number of security alerts, rising cybersecurity costs, and a critical shortage of skilled professionals. The partnership between Reliance Cyber and Google Cloud Security provides organisations with improved security postures through insightful, data-driven analytics, which underpin Reliance Cyber’s XDR service. For businesses facing diverse economic, social, and technological changes—such as the ongoing impacts of COVID-19, the transition to hybrid and remote work, rapid technological advancements like AI, and budget pressures from the cost of living crisis—this partnership represents a significant step forward. It enhances cybersecurity without the usual challenges of high costs, complexity, or the need for specialised staff. It’s about making world-class security simple and available to a wider audience.
What’s changing:
Support for growth: The partnership will expand the reach of state-of-the-art security services to more businesses, helping to protect organisations without the stress of financial and operational barriersEnhanced visibility, lower costs: Leveraging Google’s SOAR capabilities and Chronicle’s powerful telemetry, Reliance Cyber’s tailored ingestion approach means organisations can achieve enhanced visibility across their digital environments at a reduced cost. This approach enables proactive prevention and detection of threats, ensuring better security with less expenditure.Key benefits of the strategic partnership include:
AI and automation: Automation is at the core of Reliance Cyber’s offering. Every alert is enriched with threat intel from leading vendors, automatically correlated, and grouped into cases, reducing mean time to detect (MTTD) and mean time to respond (MTTR). Google’s additions enhance this with lower data ingestion costs, superior threat intelligence, curated detections, and advanced anomaly detection using machine learningSimplified security operations to support staff: Integration of Google Cloud’s SOAR capabilities simplifies the security management landscape, allowing CISOs to focus on strategic planning rather than daily operational hurdlesScalable security for business growth: The partnership supports business expansion strategies by providing scalable security solutions that grow with the company, crucial for organisations driving technological advancementData-driven insights for better decision-making: Boards will gain unparalleled visibility into their digital environments, fostering smarter, faster decision-making to preemptively address potential security threats.Rob Walton, Chief Revenue Officer at Reliance Cyber, on the transformative impact: “We’re thrilled to partner with Google Cloud Security. This partnership aligns perfectly with our mission to deliver comprehensive, advanced security services to the market, making top-level security accessible and manageable for businesses of all sizes. Ultimately, it’s about creating predictability and peace of mind in an area that can often cause businesses and their boards sleepless nights, particularly due to concerns about attacks and the financial constraints that dictate risk appetites.”
Do you want more coverage, at less cost, with zero compromises? 
Enquire about a proof of concept. Visit: https://eu1.hubs.ly/H09bKtG0.
About Reliance Cyber
Since our founding in 2003, Reliance Cyber has established itself as a leading Managed Security Service Provider (MSSP). By combining deep cybersecurity expertise with a true partnership ethos, we enable organisations to concentrate on their core business.
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Artificial Intelligence

Eficode acquires Jodocus and reinforces Atlassian Cloud skills and Atlassian partnership in Germany

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HELSINKI, May 28, 2024 /PRNewswire/ — Eficode has acquired Jodocus, the first cloud-native Atlassian Platinum partner in Germany. This acquisition further reinforces Eficode’s role as an Atlassian partner in Germany and expands its skills and services in Atlassian Cloud.

“Atlassian is moving to the Cloud, and the related know-how is essential to speed up this transition. Jodocus was originally the first Atlassian partner in Germany to focus fully on the Cloud. Their broad expertise in Atlassian tools and cloud migrations helps our customers in their journey to the cloud and complements our mission to build the future of software development,” says Ilari Nurmi, CEO of Eficode. “We welcome Jodocus’ employees and customers to Eficode.”
Founded in 2019, Jodocus is an Atlassian Platinum Solution Partner with extensive expertise in Atlassian Cloud. In addition to focusing on the Cloud, the Jodocus team offers support on business processes, Application Lifecycle Management, and DevOps. Their customer base is in Germany, with well-known names such as Otto Group and Fricke. Jodocus has 45 employees, and its revenue in 2023 was 11,5 million euros. “Together, Eficode and Jodocus will form a more significant entity and have even more international customers, which opens possibilities for deepening and broadening our relationship with our customers,” says Werner Krandick, CEO of Jodocus.
Eficode has enabled countless businesses with DevOps and digital transformation to adopt new technologies and practices to create software better. Its full spectrum of digital services can now be extended also to Jodocus’ customers. Eficode ROOT provides software development tools as a managed service in a Software-as-a-Service manner. In turn, with Total Support, we manage the tools and offer support, coaching, and mentoring for Atlassian solutions as a subscription.
In recent years, Eficode has grown strongly both organically and through acquisitions. Eficode’s compound annual growth (CAGR) during the previous four fiscal years has been 70%.
Media contactsIlari Nurmi, Chief Executive Officer, Eficode. [email protected], +358 40 577 5084 Lauri Palokangas, Chief Marketing Officer, Eficode. [email protected], +358 50 486 4918 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eficode-oy/r/eficode-acquires-jodocus-and-reinforces-atlassian-cloud-skills-and-atlassian-partnership-in-germany,c3988509
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Artificial Intelligence

New first of its kind UK legal-tech recruitment platform aims to put an end to overseas worker scams

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Unique UK-based legal technology platform, Immpact, helps unite the global talent market to fulfil UK skills shortages across healthcare, construction, engineering, life sciences and hospitality Immpact directly connects employers, recruiters and regulated legal experts with pre-qualified global talent – and aims to help eradicate profiteering job scammersREADING, England, May 28, 2024 /PRNewswire/ — A unique new legal-tech recruitment platform has launched in the UK to help put an end to overseas worker scams and directly connect UK employers and recruiters with pre-qualified overseas global talent. Immpact will help fulfil acute skills shortages across sectors including healthcare, construction, engineering, life sciences and hospitality, while ensuring full legal Home Office compliance.

The launch of Immpact follows over two years of advanced legal-tech development. Using the immigration law expertise of Founder and Managing Director, Jonathan Beech, and his team of specialists, the platform will help unite a previously disconnected global talent market with under-resourced UK employers and transform global workplace migration. Immpact has also been developed through discussions with hundreds of employers, industry bodies and overseas talent.
With job scams – from fake jobs to illegal fees for sponsor licences – ongoing, particularly in the social and healthcare sector, Immpact will ensure only pre-qualified talent, employers and recruitment firms are placed on its platform following stringent multi-layer checks. This will ensure that all jobs and talent are qualified and genuine along with thoroughly regulated employers and recruiters, to provide a global marketplace for talent.
Jonathan Beech, Founder and Managing Director of Immpact, said: “Through my existing business running Migrate UK, I’m acutely aware of the issues that UK employers and recruiters are having in trying to fulfil talent shortages across sectors such as care, healthcare and life sciences. I also regularly hear terrible stories of genuine overseas job hunters being ripped off in their home countries or the UK by job scammers, often running to thousands of pounds.
“I knew there had to be a better way to match pre-qualified overseas talent with genuine work opportunities and responsible UK employers – effectively a ‘talent’ match-making site which is designed to eradicate scammers to provide a global, trusted marketplace for talent.”
Following the latest government immigration rule changes, overseas recruitment costs are continuing to rise for businesses struggling with talent shortages. From 4 April 2024, the minimum salary for entering the new skilled visa worker route for the first time increased by 48%, from £26,200 to £38,700 a year. There are different rates for those already holding a skilled worker certificate of sponsorship prior to this date and discounts are available for key shortage roles on the Immigration Salary List (ISL).
Immpact will benefit employers and recruiters by saving them time and money. Working with recruitment experts to analyse existing overseas recruitment workflows, Immpact has calculated that it will save 50% of the time involved in managing overseas recruitment, helping to cut down the time-consuming filtering of applications traditionally needed.
For employers traditionally looking to recruit overseas applicants, previous data from industry recruitment software specialists show that 30% of overseas applications are rejected as they do not have the right to work, while 64% are rejected due to CVs being unclear or requirements not being met. This leaves just 6% of applications remaining, which results in about 2% then being interviewed. Immpact will automatically present only suitable pre-qualified applications to employers or recruiters, eradicating wasted time on unsuitable or unqualified applicants.
Beech continues: “Following thousands of hours of development and utilising the latest advanced technology which can adapt to evolving Home Office requirements and procedures, we’re proud to launch Immpact. Our unique new platform takes care of the entire process – from pre-qualifying processes, searching and shortlisting, down to arranging interviews, successful appointments, onboarding, the provision of regular content and guidance, and access to regulated immigration legal professionals.
“Our new technology will transform global migration for both UK organisations and businesses struggling to recruit and global talent looking to work in the UK. Immpact has been thoroughly tested at every stage and is both user-friendly and, crucially, compliant, so qualified overseas applicants and UK employers and recruiters can be confident that only genuine UK jobs and overseas applicants match and proceed. Quite simply, we want Immpact to simplify the whole migration process by putting the right talent in the right place at the right time, and for UK employers to fulfil critical talent shortages which will help them not only survive, but thrive.”
The platform has a free trial or low-cost subscriber options for search-matching and more for employers and recruiters. For talent, the platform has zero costs for creating a profile, using the pre-qualifying tools or searching for opportunities. For further information visit www.immpact.ai.
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