What is Low-Code Business Process Management (BPM) Market?
The global low-code business process management (BPM) market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The rising demand for automated business process management and increasing deployment of cloud-based platforms are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Highlights from Low-Code Business Process Management (BPM) Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | OutSystems (United States), Xplenty Ltd. (United States), Oracle (United States), QuickBase, Inc. (United States), Appian (United States), Kissflow Inc. (India), OptimaJet (United States), Salesforce.com (United States), Microsoft (United States), Mendix (United States) and Google LLC (United States) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Low-Code Business Process Management (BPM) market throughout the forecasted period.
OutSystems (United States), Xplenty Ltd. (United States), Oracle (United States), QuickBase, Inc. (United States), Appian (United States), Kissflow Inc. (India), OptimaJet (United States), Salesforce.com (United States), Microsoft (United States), Mendix (United States) and Google LLC (United States) are some of the key players profiled in the study. Low-Code Business Process Management (BPM) Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Visual Development, DevOps Development, Real-time Monitoring, Scaleable Architecture, Block-based Coding and Others |
Enterprise Size | SMEs,Large Enterprises |
Platform | Windows,IOS/MAC,Web,Android |
Industry Verticals | BFSI,IT & Telecom,Government & Defense,Energy and Utilities,Manufacturing,Healthcare and Pharmaceutical,Retail and eCommerce,Media and Entertainment,Education,Others |
Deployment | On-Premise,Cloud-based |
On the basis of geography, the market of Low-Code Business Process Management (BPM) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Implementation of Artificial Intelligence (AI) in BPM Platforms
Market Growth Drivers:
The Growing Demand for Automated Business Process Management and Increasing Deployment of Cloud-based Platforms
Challenges:
Reduced Operations Across Different Industries Owing to COVID-19 Pandemic Reducing the Demand for BPM Platforms
Restraints:
Availability of Open Source Platforms
Opportunities:
The Increasing Automation Across Different Sector
Stringent Government Regulations Regarding Shutting Down of Operations Across Different Industries Worldwide Due to the COVID-19 Pandemic is Impacting the Demand for BPM Platforms
Analyst Comment
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the global low-code business process management platforms market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.