The Latin America, Middle East and Africa Business Process Management Market would witness market growth of 22.6% CAGR during the forecast period (2022-2028).
The BPM provides companies with vital information related to the operations they are implementing on. Every minute detail recorded by the BPM can give enough room for improvement. These minor and continuous improvements are imperative for enabling growth continuity in the process and, by extrapolation, the company.
Furthermore, BPMs ensure that these minute improvement decisions are supported by the necessary data and evidence that reflect incremental changes. Cloud-based BPM solutions are proving more effective than traditional BPMs, especially regarding IT environment flexibility. In addition, BPM solutions offered as Software-as-a-Service (SaaS) also require no maintenance and installation costs.
Moreover, these BPM platforms are based on low code functions that help in their easy integration with the existing systems. In addition, there is a significant rise in the implementation of BPM in developing economies because of these nations growing information technology & communication (ITC) industry and favorable growth policies supported by the government.
This region has enormous possibilities for utilizing BPM solutions as the number of industries has been growing over the past few years. Specifically, in the Middle East, a non-profit organization, the Association of Business Process Management Professionals (ABPMP), has been promoting BPM practices and concepts by guiding the manufacturers in the region. As a result, the organization is regarded as the leading association in the field of BPM.
The Brazil market dominated the LAMEA Business Process Management Market by Country in 2021; thereby, achieving a market value of $746.8 million by 2028. The Argentina market is experiencing a CAGR of 23.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 22.3% during (2022 - 2028).
Based on Business Function, the market is segmented into Accounting & Finance, Sales & Marketing, Procurement & Supply Chain Management, Human Resource Management, Customer Service Support and Others. Based on Vertical, the market is segmented into IT, BFSI, Telecom, Retail & eCommerce, Government & Defense, Healthcare & Life Sciences, Manufacturing and Others. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is Automation & Process Modelling, Content & Document Management, Monitoring & Optimization, Integration and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Business Process Management Market is Predict to reach $40.6 Billion by 2028, at a CAGR of 19.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Pegasystems, Inc., Oracle Corporation, Software AG, Tibco Software, Inc. (Vista Equity Partners), Genpact Limited, Newgen Software Technologies Limited, Nintex, Inc., Appian Corporation, OpenText Corporation.
By Business Function
By Vertical
By Deployment Mode
By Organization Size
By Component
By Country
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