The Europe Process Mining Software Market would witness market growth of 38.9% CAGR during the forecast period (2020-2026). Insights from the event log are analyzed by process mining software with an aim to better comprehend the business operation and assists in enhancing the process by recognizing loopholes and inefficiencies.
The demand for this software is boosted by the rising adoption of information technologies, automation, and digital transformation across businesses. Companies are highly adopting process mining software with an aim to improve customer experience in order to increase their sales.
There is a digital transformation witnessed across various industries with the support of automation. These industries are constantly looking for new innovations that can assist in maximizing efficiency and reducing the investment cost. This quick expansion is boosting the demand for robotic process automation for improving performance and efficiency. Moreover, businesses are incorporating RPA with process mining software to optimize the automation impact. The software can provide important insights, like innovative solutions, strategy planning, required enhancements, and others during the RPA application. The embedded solution can be used for both technology-based and human-driven data-driven business processes. It offers analysis and tracking of RPA for further enhancements. Therefore, organizations are implementing process mining automation with an aim to get real-time insights and segmental analysis of the operation.
Process mining has been utilized efficiently to examine the present state of business process performance, recognize areas of improvement, and access the outcomes of process enhancements. This aspect enables it to become an efficient partner for technologies such as robotic process automation (RPA), as it can first recognize the ideal places to install “bots” and then offer the mediums to assess the useful influence of the RPA implementation.
The Germany market dominated the Europe Small & Medium Sized Enterprises Process Mining Software Market by Country 2019, growing at a CAGR of 39.5 % during the forecast period. The UK market is exhibiting a CAGR of 40% during (2020 - 2026). Additionally, The France market is poised to grow at a CAGR of 42.2% during (2020 - 2026).
The BFSI market dominated the Spain Process Mining Software Market by End User 2019, thereby, achieving a market value of $18.8 million by 2026. The IT & Telecom market is showcasing a CAGR of 42.4% during (2020 - 2026). The Manufacturing market is estimated to grow at a CAGR of 39.8% during (2020 - 2026). Additionally, The Retail market is witnessing a CAGR of 43.8% during (2020 - 2026).
Based on Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Sized Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Manufacturing, Retail, Logistics & Transportation, Healthcare and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Process Mining Software Market in Europe is expected to register a CAGR of 38.9% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE (Signavio GmbH), Fujitsu Limited, Software AG, UiPath, Inc., Hyland Software, Inc., Kofax, Inc. (Thoma Bravo LLC), Apromore Pty. Ltd., myInvenio, ABBYY Solutions Limited, and Celonis GmbH.
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