The global Process Mining Software market size is expected to be worth around US$ 12.95 billion by 2030, according to a new report by Vision Research Reports.
The global Process Mining Software market size was valued at US$ 422.02 million in 2020 and is anticipated to grow at a CAGR of 51.1% during forecast period 2021 to 2030.
|Market Size||US$ 12.95 Billion by 2030|
|Growth Rate||CAGR of 51.1% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Component, Deployment, Application, Industry Vertical|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||ABBYY Solutions Limited; Celonis GmbH; Fluxicon BV; Hyland Software, Inc.; Minit; myInvenio, an IBM Company; QPR Software Plc; SAP; Software AG; UiPath, Inc.|
The increasing awareness about the need to understand and analyze business processes driven by digital transformation is one of the key factors driving market growth. Additionally, the constant increase in data volumes across industries is driving the demand for process mining software and services.
The rising need to strengthen process auditing and compliance processes across organizations is fueling the demand for process mining software. Additionally, the growing adoption of cloud solutions and services, digital transformation initiatives, and the rising awareness about understanding and analyzing business processes among organizations are also driving the demand for process mining software and services. A large number of businesses moved from an on-premise approach to the cloud amid the COVID-19 pandemic, thus resulting in the rapid growth of the process mining software industry.
By Component Analysis
In terms of the component, the process mining software market has been divided into software and services. The software segment dominated the market with a revenue share of over 60% in 2020 and is likely to maintain its position throughout the forecast period.
The service segment is expected to expand at the highest CAGR of 56% during the forecast period. The demand for process mining services is expected to benefit from the adoption of cloud-based software solutions and frequent updates required to keep the software running securely and smoothly.
By Application Analysis
The transactional procurement segment accounted for the largest revenue share of over 20% in 2020 and is likely to maintain its position throughout the forecast period. The category management segment is expected to register the highest CAGR over the forecast period. The growth of this segment can be primarily attributed to the growing demand from businesses for external marketplace analysis.
By Industry Vertical Analysis
The BFSI segment accounted for the largest revenue share of around 30% in 2020 and is expected to maintain its position throughout the forecast period. The consumer goods & services segment is projected to register the highest CAGR of around 56% over the forecast period.
By Deployment Analysis
In terms of deployment, the market has been divided into on-premise and cloud. The cloud segment dominated the market with a revenue share of more than 55% in 2020 and is expected to maintain its position throughout the forecast period.
The on-premise segment accounted for a significant market share of over 40% in 2020 and is projected to retain its position throughout the forecast period.
By Regional Analysis
Europe accounted for the largest revenue share of around 50% in 2020 and is expected to maintain its dominance over the forecast period. The region is renowned for the early adoption of advanced technology and the highest adoption of digital and automation tools and services.
Asia Pacific is anticipated to expand at the highest CAGR of over 54.9% over the forecast period. This can be attributed to the increasing need among enterprises to enhance process auditing and compliance.
ABBYY Solutions Limited
Hyland Software, Inc.
myInvenio, an IBM Company
QPR Software Plc
By Industry Vertical
Consumer Goods & Services
Telecommunications & IT
Logistics & Transportation
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
The Process Mining Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Process Mining Software market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Process Mining Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Process Mining Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Process Mining Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Process Mining Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Process Mining Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Process Mining Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Process Mining Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Process Mining Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Process Mining Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Process Mining Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Process Mining Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Process Mining Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Process Mining Software market. These factors have benefited the growth of the global market for Process Mining Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Process Mining Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Process Mining Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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