Process Mining Software Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-6005 Status : Upcoming

Description

Global Process Mining Software Market: Overview

Just like data mining, process mining is a generic technology that can be applied in several ways. It is the technique to monitor and analyze processes. It uses the data that is available in the corporate information system and displays the real process automatically. The process mining software offers visibility in the processes as well as gaps or vulnerabilities within the processes. This allows the users to produce data-driven improvements based on the processes they are been conducted.

Global Process Mining Software Market: Growth Factors

The global process mining software market is growing at a speedy rate. Increase in digital transformation, rise in the adoption of process mining software by small & large enterprises, and the growing need for process mining software for critical process intersections are the factors that are boosting the growth of the global process mining software market. Previously, process mapping was done by teams of people to figure it out on a spreadsheet or a whiteboard which took several days and was a complete slog. Later such painful people-driven process mapping was taken over by process mining which uses advanced data transformation and powerful algorithms optimizing & discovering the processes fast, data-driven, complete, and most importantly slog-free. Process mining software also offers a wide range of benefits such as continuously measure improvements & monitor processes, based on the facts analyze the processes accurately & fully, simplify compliances, in any functional area analyze virtually any process including order-to-cash, purchase-to-pay, & contact centers. Owing to all these factors, process mining software is in great demand in several industries such as consumer goods, healthcare, manufacturing, telecommunications, financial services, and much more. This is driving the growth of the global market. Moreover, the rise in adoption of cloud-based software and growing technological innovations are also some of the factors that are augmenting the growth of the global market. Furthermore, the integration of artificial intelligence with the process mining software may result in abundant opportunities for the growth of the global process mining software market over the forecast period. However, factors such as concerns regarding the safety of privacy and lack of awareness of process mining software in developing countries may restrain the growth of the global process mining software market.

The outbreak of Covid-19 has positively impacted the growth of the global process mining software market. To control the rapid spread of the virus, strict lockdown, restriction on movement, and stay-at-home orders were imposed by several countries across the world.  Thus, more than 80 percent of the organizations enforced the rule of work from home. This increased digital transformation thereby required strengthening the IT sector. In addition to this, the companies are majorly focusing to find solutions to overcome the challenges regarding the demand-supply gap and bring the business on track.

Global Process Mining Software Market: Segmentation

The global process mining software market is segregated based on the enterprise size, type, component, application, and region. Based on the enterprise size, the global process mining software market is split into large enterprises and small & medium enterprises. Based on the type, the global market is categorized into enhancement, conformance, and discovery. The component segment is divided into services and software. Based on the application, the global market is bifurcated into hidden problems, ongoing monitoring & optimization, business process, and critical process intersections.

Global Process Mining Software Market: Regional Analysis

Geographically, Europe is expected to hold the maximum share in the global process mining software market in terms of revenue. This is attributed to the rise in the adoption of technologically advanced analytical tools and a growing emphasis on process mining solutions to make them work efficiently. North America is anticipated to hold the second position in the market in terms of share owing to the rise in investment and growing adoption of cloud-based software. On the other hand, Asia Pacific is anticipated to be the fastest growing region during the forecast period. Factors such as the rise in digital transformation, increase in adoption of process mining software by small & mid-sized enterprises, and growing need for ongoing monitoring & optimization of the processes are boosting the growth of the market in this region.

Global Process Mining Software Market: Competitive Players

Minit, Fluxicon BV, Celonis GmbH, Hyland Software, Inc., Exeura, Software AG, QPR Software Plc, Fujitsu Ltd., Signavio, and myInvenio among others are some of the major players operating in the global process mining software market.

Global Process Mining Software Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The global process mining software market is growing at a speedy rate. Increase in digital transformation, rise in the adoption of process mining software by small & large enterprises, and the growing need for process mining software for critical process intersections are the factors that are boosting the growth of the global process mining software market. Furthermore, the integration of artificial intelligence with the process mining software may result in abundant opportunities for the growth of the global process mining software market over the forecast period.

Minit, Fluxicon BV, Celonis GmbH, Hyland Software, Inc., Exeura, Software AG, QPR Software Plc, Fujitsu Ltd., Signavio, and myInvenio among others are some of the major players operating in the global process mining software market.

Geographically, Europe is expected to hold the maximum share in the global process mining software market in terms of revenue. This is attributed to the rise in the adoption of technologically advanced analytical tools and a growing emphasis on process mining solutions to make them work efficiently.

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