Process Analytics Market By Process Mining Type (Process discovery, Process conformance, Process enhancement), By Deployment Mode (On Premise, Cloud), By Organization Size (Large Enterprises, Small and Medium Enterprises), By Application (Business Process, Information Technology Process, Customer Interaction): Global Opportunity Analysis and Industry Forecast, 2021-2031
A process analytics is a systematic review of all steps and procedures followed to perform an assigned activity. It is a description of the way a particular task is done within an organization. Process analysis is an ongoing improvement process where organizations analyze the way they do things in order to find more efficient methods to perform a particular task. This analysis is based on the three elements of any activity, which includes input, process and output. Process analysis deals with the way the input is transformed into the desired output. One goal for this analysis is to reduce the number of resources, including time, employed to get the output required.
Digital transformation is empowering users’ awareness for analyzing and understanding business processes and increase in adoption of algorithmic business are the significant growth opportunities for the future of global process analytics market. In addition, rise in the implementation of task-level automation is positively impacting the growth of the process analytics market. However, competition from open-source alternatives hampering the demand for commercial solutions and lack of skills and expertise limit the market growth. On the contrary, the need to focus on enhancing the customer experience are expected to offer remunerative opportunities for expansion of the process analytics industry during the forecast period.
The global process analytics market is segmented on the basis of process mining type, deployment model, organization size, application and region. On the basis of process mining type, the market is divided into process discovery, process conformance and process enhancement. Based on deployment model, the market is bifurcated into on-premises and cloud. On the basis of organization size, the market is segmented into small and medium-sized enterprises and large enterprises. Depending on application, the market is classified into business process, process analytical technology and customer interaction. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global process analytics market is dominated by key players such as Celonis, Fluxicon BV, Icaro Tech, Kofax Inc., Logpickr, Scheer GmbH, Worksoft, Inc., Minit, Monkey Mining BV, and ABBYY. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
The study provides process analytics market analysis along with current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global process analytics forecast is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By BY APPLICATION
Business Process
Information Technology Process
Customer Interaction
By Process Mining Type
Process discovery
Process conformance
Process enhancement
By Deployment Mode
On Premise
Cloud
By Organization Size
Large Enterprises
Small and Medium Enterprises
By Region
North America
U.S.
Canada
Europe
Rest of Europe
U.K.
Germany
France
Italy
Spain
Netherlands
Asia-Pacific
China
Japan
South Korea
Australia
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Scheer Gmbh
Worksoft, Inc.
Minit
Monkey Mining BV
ABBYY
Celonis
Fluxicon BV
Icaro Tech
Kofax Inc.
Logpickr
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