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Business Process Management Market to Hit USD 56.61 Billion by 2030 as Organizations are Increasingly Focusing on Digital Transformation to Stay Competitive | Research by SNS Insider

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Pune, April 06, 2023 (GLOBE NEWSWIRE) — As per SNS Insider, the size for Business Process Management Market was assessed at USD 15.01 billion in 2022, and it is anticipated to reach USD 56.61 billion by 2030, exhibiting a CAGR of 18.05% during the forecast period of 2023-2030.

Market Overview

In today’s competitive business environment, organizations need to be agile and responsive to stay ahead of the competition. BPM solutions can help organizations achieve this by enabling them to automate processes, reduce errors, and enhance overall efficiency. This can lead to improved customer satisfaction, increased revenue, and better business outcomes. They can be customized to meet the unique needs of different organizations and industries. Cloud-based BPM solutions are gaining popularity due to their scalability, cost-effectiveness, and ease of implementation.

Market Analysis

The business process management market has experienced significant growth in recent years, and this growth can be attributed to the numerous benefits of employing BPM solutions. Business process management solutions help organizations to optimize their operations, streamline their processes, and improve overall organizational efficiency. This has resulted in cost savings, increased productivity, and enhanced customer experience.

Moreover, the availability of business process management solutions worldwide has made it easy for companies to adopt these solutions and leverage them to improve their operations.

Get a Sample Report of Business Process Management Market@ https://www.snsinsider.com/sample-request/1587

Key Company Profiles Listed in this Report Are:

  • IBM Corporation
  • Pegasystems
  • Appian
  • Oracle
  • Software AG
  • Nintex
  • OpenText
  • Newgen Software
  • Genpact
  • TIBCO

Impact of Recession on Business Process Management Market Growth

Recession can have a significant impact on the business process management market. During a recession, organizations may cut back on their spending and delay their investments in technology solutions such as BPM. This can lead to a slowdown in the growth of the BPM market. However, despite the potential negative impact, the BPM market has demonstrated resilience during previous recessions. This is because BPM solutions are designed to help organizations improve operational efficiency, reduce costs, and enhance productivity.

Key Regional Developments

North America has emerged as a key player in the global business process management market, with the region holding the largest share of the market. This growth can be attributed to various factors, including the rapid pace of technological advancements in the region, the presence of the world’s largest economy, and the concentration of major companies in the region. One of the key drivers of BPM adoption in North America is the wide acceptance of the latest technologies such as automation, artificial intelligence, and cloud computing.

Business Process Management Market Report Scope:

Report Attributes  Details
Market Size in 2022  US$ 15.01 Bn
Market Size by 2030  US$ 56.61 Bn
CAGR  CAGR of 18.05% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Key Market Segmentation • By Component (Platform and Services)
• By Business Function (Human Resource Management (HRM), Procurement and Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, and Others)
• By Industry Vertical (IT, Telecommunication, Retail, and Consumer Goods, Healthcare and Life Sciences, BFSI, Others)
Key Regional Coverage North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

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Key Takeaway from Business Process Management Market Study

  • The human resource management segment is a critical component of the market, and its adoption is expected to increase further in the coming years. Companies that can effectively leverage business process management solutions to manage their HR processes can achieve better organizational efficiency, reduce costs, and stay ahead of their competitors.
  • The telecommunication industry segment is expected to dominate the market in the coming years. Telecommunications is a rapidly evolving industry that has experienced significant growth over the years, and its success is highly dependent on effective business process management.

Recent Developments Related to Business Process Management Market

  • EY, one of the world’s leading professional services organizations, has recently announced a strategic alliance with Software AG, a global software company specializing in enterprise-grade solutions for business process management and digital transformation. By combining forces, the two companies hope to help businesses of all sizes and industries digitize their operations, streamline their workflows, and improve overall efficiency.
  • A Dubai-based property management company has recently launched a cutting-edge automation software solution, designed to streamline and optimize the company’s property management processes. The new software represents a major investment in the company’s digital capabilities, as it seeks to provide its clients with the most efficient and effective property management services possible. The new automation software leverages the latest technologies in artificial intelligence and machine learning to automate many of the company’s most time-consuming and labor-intensive tasks.

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Business Process Management Market Segmentation, By Component

9. Business Process Management Market Segmentation, By Business Function

10. Business Process Management Market Segmentation, By Industry Vertical

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

Buy Single-User PDF of Business Process Management Market Report@ https://www.snsinsider.com/checkout/1587

[For more information or any questions related to this research mail us at [email protected]]

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Access Complete Report Details@ https://www.snsinsider.com/reports/business-process-management-market-1587


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Artificial Intelligence

Wirex Executive Joins CryptoUK’s New Policy Committee

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LONDON, May 21, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is proud to announce that Chet Shah, Global Chief Risk & Compliance Officer at Wirex, has joined CryptoUK’s newly established Policy Committee.

CryptoUK, the premier trade body representing the UK’s digital asset sector, formed its new Policy Committee which brings together industry-leading experts from the legal, regulatory, and compliance sectors. The committee’s mission is to provide strategic policy guidance, advocate for regulatory clarity, and foster innovation to support the growth of the UK’s digital assets industry.
This appointment underscores Wirex’s commitment to advancing regulatory clarity and innovation in the digital asset sector.
Chet brings a wealth of experience in risk and compliance. His background covers banking, auditing, and traditional finance, as well as solid expertise in the cryptocurrency space. At Wirex, Chet has been crucial in building and improving relationships with global regulators, including the Financial Conduct Authority, and authorities in countries including Singapore, Croatia, and Italy.
Chet’s approach prioritises commercially focused compliance and risk management, ensuring that Wirex operates smoothly at the intersection of traditional finance and Web3. His ability to balance regulatory requirements with innovation has been key to Wirex’s growth and success.
Commenting on his appointment, Chet said, “My experience aligns perfectly with the committee’s goals and together, we can advocate for policies that balance regulation with growth in the digital assets space.”
About Wirex 
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management.
Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
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Media Production Company Egg Is Coming Chooses Infortrend SAN Storage to Empower Content Creation Workflows

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TAIPEI, May 21, 2024 /PRNewswire/ — Infortrend® Technology, Inc. (TWSE: 2495), the industry-leading enterprise storage provider, today announced that Korean media production company Egg is coming is leveraging Infortrend’s storage solution for M&E – EonStor DS enterprise SAN storage to empower content creation workflows and store the growing volume of UHD videos they produce.

Egg is coming is a media content production company operating as a spin-off from the South Korean entertainment giant CJ ENM Entertainment Division, the distributor of Oscar-winning movie “Parasite”. With the renowned producer Lee Myung-han as its CEO, Egg is coming specializes in production of popular entertainment content, including drama series, broadcast programs, music videos, etc. The team has successfully produced numerous renowned series, including “Hospital Playlist” which became the ninth highest-rated Korean drama in cable television history at the time.
As the company was established, they started looking for a high-speed shared storage solution. Infortrend’s EonStor DS SAN storage came highly recommended by a major media company that has been successfully using it with Tiger Technology’s SAN file sharing solution. Trusting this recommendation, Egg is coming adopted EonStor DS for video editing application. In total, four DS 4016 appliances, expanded with four units of JB 3060L expansion enclosure, were chosen for the initial deployment of the studio’s storage system. The solution provides 1.8 PB total capacity to store ever-expanding UHD video content and enables seamless workflows for 29 simultaneous post-production processes.
“Infortrend’s SAN storage EonStor DS was recommended to us by a major media production company, and we are happy that we adopted the same solution as DS enables fast and comfortable collaboration between 29 video editors,” – said Changmin Sim, the Team Leader of the Video Editing Team at Egg is coming.
Learn more about EonStor DS
About Infortrend
Infortrend (TWSE: 2495) has been developing and manufacturing storage solutions since 1993. With a strong emphasis on in-house design, testing, and manufacturing, Infortrend storage delivers performance and scalability with the latest standards, user friendly data services, personal after-sales support, and unrivaled value. For more information, please visit www.infortrend.com
Infortrend® and EonStor® are trademarks or registered trademarks of Infortrend Technology, Inc.; other trademarks are the property of their respective owners.

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Gcore And Xsolla Announce Partnership To Drive Global Game Distribution And Faster Downloads

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Gcore’s edge network to deliver Xsolla Launcher, ensuring global reach, smoother game downloads and higher conversion rates

LUXEMBOURG, May 21, 2024 May 21, 2024 — Gcore, the global edge AI, cloud, network, and security solutions provider, announced its partnership with video game commerce company Xsolla. The alliance will enable Xsolla to provide game developers and publishers with new global distribution channels catering to gamers worldwide, regardless of their locations. With Gcore’s 180 global points of presence (PoPs), players will benefit from reduced time-to-play and smoother, more efficient game downloads.
Xsolla Launcher is a powerful tool for game development companies of all sizes to widen distribution and easily build communities. It streamlines game installation, enhances player communication, and boosts monetization, allowing developers to concentrate on creativity and business logic. By leveraging Gcore’s robust CDN, Xsolla Launcher ensures seamless, speedy game downloads for all players by efficiently fetching and caching game components and initiating rapid downloads upon player request.
“At Xsolla, we’re committed to elevating the gaming experience for developers and players globally,” said David Stelzer, President of Xsolla. “Our collaboration with Gcore’s cutting-edge CDN technology significantly narrows the gap between the game and its players by delivering assets at unparalleled speed. This integration into our new Xsolla Launcher sets the bar for high-performance service and empowers our customers to focus on what they do best: create captivating games.”
Xsolla engineers chose Gcore CDN for its global network of 180+ edge servers, ensuring uninterrupted delivery of game assets worldwide. With a network capacity exceeding 110 Tbps and connectivity to 14,000 peering partners, Gcore averts congestion and disruptions, even during major releases. Operating under strict security measures and meticulous server maintenance, Gcore guarantees exceptional availability. Additionally, Gcore’s CDN integration with its proprietary DNS services further minimizes the risk of service interruptions or outages.
“We’re thrilled to be part of Xsolla’s pioneering solution, driving the gaming industry forward,” commented Ilya Matveev, Business Development Director at Gcore. “Xsolla Launcher brings flexibility to the industry, allowing companies to implement a D2C approach – a way to monetize their existing game fan base without the burden of platform fees. Relying on the power of Gcore’s edge infrastructure, Xsolla Launcher is revolutionizing game distribution by eliminating market barriers, reducing development costs, and fostering creativity.”
Read more about the partnership via this link.
About Gcore
Gcore is a global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a staff of 600 operating from ten offices worldwide, Gcore provides solutions to global leaders in numerous industries. Gcore manages its global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM due to the average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers, with a total capacity exceeding 110 Tbps.Website | Twitter | Facebook | LinkedIn
About Xsolla 
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Beijing, Guangzhou, Seoul, Tokyo, Kuala Lumpur, Raleigh, and cities around the world, Xsolla supports major gaming titles like Valve, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
Website | Twitter | Facebook | LinkedIn
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