BPM to Hit $2.7 Billion in 2015, Driven in Part by Internet of Things
The worldwide market for business process management (BPM) software is
expected to reach $2.7 billion in 2015, an increase of 4.4 percent over 2014,
according to the information technology research and advisory company Gartner.
The reason for this growth is the move to intelligent business process
management suites (iBPMS), according to Gartner. Organizations are shifting
their business models and processes to be more responsive to their
constituents. To support that shift, they need systems that are more flexible
and dynamic.
"The ability to provide more 'joined up' insight into business processes
through the use of analytics — combined with support for the people
involved in processes, allowing them to take advantage of this insight —
is what differentiates today's iBPMS market from earlier BPMS technology
markets," said Rob Dunie, research director at Gartner, in a prepared
statement.
Gartner identified four significant trends in the iBPMS market:
- The shift from continuous process improvement to business transformation
in response to both internal and external forces, as well as a push for
greater efficiency;
- Use of iBPMS to power digitized processes that integrate Internet of
Things (IoT) technology, including sensors, smart technology and robots,
with advanced analytics technology, such as pattern recognition and
predictive analytics to support process innovation;
- A shift from short-lived, transactional system-oriented processes to
long-lived processes that include people, systems and functional
boundaries; and
- Improved mobile, social, cloud and analytics features in iBPMS to support
more system and human intelligence within business processes.
Gartner's full report, "Magic Quadrant for Intelligent Business Process
Management Suites," is available to Gartner clients through the company's site.
About the Author
Leila Meyer is a technology writer based in British Columbia. She can be reached at [email protected].