Global Process Analytics Service Market, By Process Mining Type (Process Discovery, Conformance, Enhancement), Deployment Type (On-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Application(Business Process, Information Technology Process, Customer Interaction), Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Market Analysis: Global Process Analytics Service Market
The Global Process Analytics Service Market is expected to reach USD 3218.1 million by 2025 from USD 124.9 million in 2017 and is projected to grow at a CAGR of 50.1% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Process Analytics Service Market
Process analytics is used for improving the understanding of the system alongside deciding the potential focuses for process improvement by removing waste and increase efficiency. It also refers to a detailed breakdown of the phases of the procedure for conveying input and output at each phase. Implementation of digital transformation will create awareness for analyzing and accepting business process. Moreover, it is collaboration between process analytics and Enterprise Resource Planning (ERP) vendors. For instance, in 2018, Software AG launched a strategic partnership with GFT’s consultancy expertise. It provides digital platform for innovation and industrial production. According to Statista, in 2017, the IT process was projected to reach around USD 200 billion worldwide by 2019.
Market Drivers and Restraints:
- Rise in the implementation of task-level automation
- Raising need for enhance process auditing and compliance
- Increasing collaborations between process analytics and ERP vendors
- Lack of skills and expertise
Market Segmentation: Global Process Analytics Service Market
- The market is based on process mining type, deployment type, organization size, application and geographical segments.
- Based on process mining type, the market is segmented into process discovery, conformance and enhancement.
- Based on deployment type, the market is segmented into on-premises, cloud.
- Based on organization size, the market is segmented into small and medium-sized enterprises, large enterprises.
- Based on application, the market is segmented into business process, information technology process, customer interaction.
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Process Analytics Service Market
The global process analytics service market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of process analytics service market for global, Europe, North America, Asia Pacific and South America.
In 2018 Software AG acquired Trendminer to expand its IoT portfolio with the help of time – series data used in AI algorithms.
Key Players: Global Process Analytics Service Market
The renowned players in process analytics service market are Lana Labs, Minit, Logpickr, Timelinepi, Scheer, Monkey Mining, Celonis, Fluxicon, Icaro Tech, Kofax, Worksoft, Puzzle Data, QPR Software, Cognitive Technology, Signavio, SNP, Your Data, Process Mining Group, Software AG, Fujitsu, Kofax, CA Technologies and many more.
Research Methodology: Global Process Analytics Service Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other