Market Overview:

The global smart process application market size reached US$ 36.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 71.6 Billion by 2027, exhibiting a growth rate (CAGR) of 12.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Smart process application (SPAs) refers to a software-based application designed to effectively collaborate the organization’s business process management (BPM) activities. It applies complex algorithms and data management solutions to perform the functions of sensing, actuating and controlling various processes to derive insights and make analytical decisions. It also involves various other processes, such as business intelligence, infrastructure elasticity, process architecture, software innovation and supply chain management. As a result, SPA finds extensive applications across various industries, such as medical, banking, financial services and insurance (BFSI), manufacturing, education, media & entertainment, retail and IT & telecommunications.

Rapid automation across industries dealing with consumer information is one of the key factors driving the growth of the market. SPAs integrate enterprise resource planning (ERP), customer relationship management (CRM) and enterprise content management (ECM) systems for enhanced operational agility. Furthermore, widespread adoption of virtualization and explorative data analysis for enterprises is providing a thrust to the market growth. For instance, in the healthcare industry, SPAs are used to manage complex ecosystems to facilitate access to data through various end-points. Additionally, various improvements in the information and communication technologies, are acting as other growth-inducing factors. With the widespread adoption of bring your own devices (BYOD) and increasing utilization of personal devices at the workplace, SPAs are extensively used for integrating in-office and remote employees on a collaborative platform. Other factors, including the advent of Industry 4.0, along with significant improvements in the information technology (IT) infrastructure, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart process application market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on offering, deployment type, organization size and vertical.

Breakup by Offering:

• Solutions
  • Enterprise Content Management
  • Business Process Management
  • Customer Experience Management
  • Business Intelligence and Analytics
  • Others

• Services
  • Support and Maintenance Services
  • Professional Services
  • Managed Services
     

Breakup by Deployment Type:

• On-premises
• Cloud-based
   

Breakup by Organization Size:

• Small Sized Businesses
• Medium Sized Businesses
• Large Enterprises
   

Breakup by Vertical:

• BFSI
• Telecom & IT
• Public Sector, Energy and Utilities
• Media and Entertainment
• Manufacturing
• Retail
• Healthcare
• Education
• Transportation and Logistics
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Appian Corporation Inc., Dell Technologies, IBM Corporation, Blue Yonder Group, Inc., Verint Systems Inc., Thomas Bravo, Open Text Corporation, Pegasystems Inc., Salesforce.com, inc., and SAP SE.

Report Coverage:

Key Questions Answered in This Report:

• How has the global smart process application market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global smart process application market?
• What are the key regional markets?
• What is the breakup of the market based on the offering?
• What is the breakup of the market based on the solutions?
• What is the breakup of the market based on the services?
• What is the breakup of the market based on the deployment type?
• What is the breakup of the market based on the organization size?
• What is the breakup of the market based on the vertical?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global smart process application market and who are the key players?
• What is the degree of competition in the industry?