Rapid Digitalization Positively Influencing Mobile Business Process Management (BPM) Market

As per the market outlook foreseen by the IndutrsyARC’s business intelligence report titled, “Mobile Business Process Management (BPM) Market -By Solution (Automation, Integration, Others) Service (Maintenance & Support, Integration & Deployment, Others) Deployment (Private, Public Cloud) Industry (Automobiles, Telecommunications, BISF, Others)-Forecast(2018-2023),” the market is poised for exponential growth owing to technological advancements in the fields of cloud computing, the Internet of Things (IoT), big data and analytics, and social media platforms and their increasing rate of adoption by enterprises.

According to a 2018 study by International Data Group (IDG), Inc., globally ranked number one tech media firm, 89% of enterprises have policies to implement digital-first business strategy. Among these only, 44% have completely adopted this gradient. Digitalization has equipped mobile business process management (BPM) processes with mobility, on-the-go, and real-time access to accomplish its task of managing effective workflow right from initial stages to after sales customer services with much more efficacy.

Prior mentioned IDG data can be well supported with the 2018 statistics from Forbes, which depicts that 55% of startups have already employed digital business stratagems and can increase their revenue by 34% by such implementations. As per Government e-Commerce (GEM) report, more than 100 million startups are launched every year. Owing to such robust growth, this application segment is forecast to stroke the market with abundant demand.

According to the International Data Corporation's (IDC) Worldwide Telecom Services Database, worldwide spending on telecom services was estimated to grow steadily, bringing it to $1689 billion in 2018. Communication service providers employ mobile BPM to serve their increasingly sophisticated customer demand for hassle-free interactions across multiple channels, networks, and touch-points Thus, the flourishing telecom sector being an end use industry of mobile BPM market is forecast to generate substantial demand.

In accordance with Forbes, digital health investments exceeded $6.5 billion in 2017 which was remarkably a 109% up from 2016. Overall healthcare sector has marked $1.85 trillion in terms of manufacturers’ revenues. Process-driven healthcare establishments are opting for mobile BPM for concerns such as advantage of Big Data, react to developments in relevant sectors, decrease miscalculations, and structure a facility where systems, informations and people interact efficiently. Mobile BPM employment in such a compulsory market is attributing tremendous opportunities for global market share and its growth.

In today’s age of mobile workforce, to empower any organization mobile BPM is essentiality. Mobility is the catch and an assured trend with the capacity to transform itself into a prominent driver for any sector. Mobile BPM is delivering to the demand of mobility for various sectors with healthcare, telecommunications, e-banking, and financial services being the major ones penetrating into this stride. 

Business Process As A Service (BPaaS) Market: By Method (Operational, Supportive, Managerial); By deployment services type (SaaS, PaaS, IaaS); By Application (BFSI, Supply chain, Healthcare); By Stream ( BPO, BPA, BPM); By Process Type(HR, Marketing, Sales & Operations); By By end-user Industry (Banking, retail, Educational, Public sector, Healthcare, Research & Analysts, Media, ITes); By Geography - Forecast (2018-2023)