Global Process Mining Market, By Offering (Software (Process Discovery Tools, Conformance Checking Tools), Services), Mining Algorithm (Deep Learning, Sequence Analysis), Data Source (ERP Systems, CRM Systems) - Industry Trends and Forecast to 2031.

Process Mining Market Analysis and Size

The process mining market can be defined as the collective ecosystem of software, services, and solutions designed to analyze, monitor, and optimize business processes within organizations. Process mining involves the extraction, visualization, and analysis of data from event logs to provide insights into how processes are executed. The primary goal is to enhance operational efficiency, identify bottlenecks, improve compliance, and drive continuous process improvement.

Data Bridge Market Research analyses that the global process mining market which was USD 324.00 million in 2023, is expected to reach USD 6,436.8 million by 2031, and is expected to undergo a CAGR of 45.30% during the forecast period of 2024- 2031. Type segment is expected to dominate due to its features and availability that determines its requirement in different industries. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Process mining is a field of business process management that focuses on analyzing and improving business processes based on event logs. Event logs are generated by information systems as a result of the execution of various processes within an organization. Process mining leverages these event logs to provide insights into how processes are actually executed, rather than how they were intended to be executed.

Global Process Mining Market Dynamics

Drivers

• Increase operational efficiency

Organizations are continually seeking ways to optimize their processes to reduce costs and improve efficiency. Process mining provides insights into how processes are executed, helping identify bottlenecks and areas for improvement. This can be a major driver in the market.

• Digital transformation

The ongoing digital transformation journey of many businesses involves the integration of advanced technologies. Process mining plays a crucial role in this transformation by offering visibility into digital processes, helping organizations make data-driven decisions.

Opportunities

• Compliance and risk management

Compliance with regulations and risk management are critical for businesses, especially in industries such as finance and healthcare. Process mining helps organizations ensure compliance by providing a detailed understanding of how processes adhere to regulatory requirements.

• Customer experience improvement

Understanding and optimizing internal processes can have a direct impact on customer experience. Process mining helps identify areas where improvements can be made to enhance customer satisfaction, which can create opportunities in the market.

Restraints/Challenges

• Technological data privacy concerns

The analysis of detailed process data may raise privacy concerns, especially as it involves tracking and analyzing individual actions within an organization. Ensuring compliance with data protection regulations, such as GDPR, can be a significant challenge.

• Integration complexity

Implementing process mining solutions can be challenging due to the need for integration with existing systems and technologies within an organization. Legacy systems or a diverse IT landscape may pose integration challenges.

This process mining market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the process mining market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Recent Developments

• In In July 2023, Microsoft announced the launch of Power Automate Process Mining, infused with next-generation Al which enables organizations to easily understand what is happening across their business, maximize process insights, use out-of-box recommendations to reduce the complexity of processes, transform operations, and drive continuous process improve
• ment with automation and low-code apps
• In May 2023, Pegasystems announced the launch of Pega Process Mining, which will make it easier for Pega users of all skill fix process inefficiencies hindering their business operations
• In May 2023, QPR Software announced a brand-new partnership with Paris-based Solution BI, known for their customer- end-to-end business intelligence solutions

Global Process Mining Market Scope

The process mining market is segmented on the basis of by offering, mining algorithm and data source. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the Users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Software
• Services

Mining Algorithm

• Deep Learning
• Sequence Analysis

Data Source

• ERP Systems
• CRM Systems

Global Process Mining Market Regional Analysis/Insights

The process mining market is analyzed and market size insights and trends are provided by country, offering, mining algorithm and data source as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

North America is expected to dominate the market because of its advanced technological infrastructure and high adoption of smart city initiatives, strong presence of major players in the market and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period due to rapid urbanization, increasing infrastructure development, and the adoption of advanced technologies in countries such as China, Japan, and India. In addition, the region's expanding automotive and consumer electronics industries contribute to the growing demand for infrared biometrics solutions. Furthermore, favourable government initiatives and investments in smart city projects further drive the market growth in the Asia-Pacific region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Process Mining Market Share Analysis

The process mining 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 company’s focus related to process mining market.

Some of the major players operating in the process mining market are:

• Celonis (Germany)
• Software AG (Germany)
• Minit (Slovakia)
• QPR ProcessAnalyzer (Finland)
• Signavio (Germany)
• OpsOne (Japan)
• Datapolis (Hungary)
• Disco (Netherlands)
• Fujitsu (Japan)
• Icaro (Brazil)
• Kofax (U.S.)