Skip to main content

Process Mining Software Market to Reach USD 10,383.0 Million by 2028; Increasing Utilization of Artificial Intelligence to Aid Growth, states Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, India, Feb. 17, 2021 (GLOBE NEWSWIRE) — The global process mining software market size is estimated to showcase robust growth owing to the increasing implementation of artificial intelligence (AI) in the software by leading industry players, observes Fortune Business Insights™ in its report, titled, “Process Mining Software Market Size, Share & COVID-19 Impact Analysis, By Type (Cloud-base, and On-premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Healthcare, Retail, Manufacturing, IT and Telecommunication, Logistics and Transportation, and Others), and Regional Forecast, 2021-2028.” As per our findings, the market value stood at USD 421.9 million in 2020 and is anticipated to reach USD 10,383.0 million by 2028, exhibiting a CAGR of 49.3% during the forecast period.Information Technology to Boom amid COVID-19 due to Increasing DemandThe COVID-19 pandemic has compelled various industries to establish their presence online owing to prolonged nationwide lockdowns across countries. This has positively impacted the information technology sector. In addition, the sudden increase in demand for digital infrastructure after the rapid adoption of work-from-home settings due to social distancing norms has strengthened the growth of the global IT sector. However, the demand-supply gap amid the crisis has brought fresh challenges to prominent players. At Fortune Business Insights, we are focusing on finding innovative solutions to the current challenges.To get to know more about the short-term and long-term impact of COVID-19 on this market,
Please Visit: https://www.fortunebusinessinsights.com/process-mining-software-market-104792
Highlights of the Report:While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.Drivers & Restraints-Integration of Software with Latest Technologies to Drive GrowthAdvantages, such as regular insights from real-time analysis and efficient operational business tasks, are the key factors driving developers and leading corporations to integrate artificial intelligence with process mining software. An increasing demand for such software is augmenting the growth. For instance, in April 2020, Automation Hero introduced Hero_Sonar, an AI-enabled intelligent process mining software. The software offers valuable insights from low-quality data, which helps in developing AI decision models. However, the high risk associated with customers’ privacy is predicted to hinder process mining software market growth.Segment-BFSI Segment to Lead the Market Owing to High AdoptionBased on the end-user, the BFSI segment dominated the market with a leading share of 26.8% in 2020. The segment growth is attributed to the seamless management offered by the software to banks for their operations. Based on type, the cloud-based segment is estimated to hold the leading share. The increasing growth of this segment is attributed to the cloud-based process mining software’s capability of providing valuable insights on a real-time basis.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/process-mining-software-market-104792
Regional Insights-Presence of Key Players to Help Europe DominateEurope is anticipated to dominate the global market with a value of USD 165.3 million in 2020. Increasing demand for process mining software in the energy space amid the surging digital transformation across industries is projected to drive its growth in the region. In addition, the presence of key players in major countries of the region is estimated to further propel growth.North America is predicted to register a considerable process mining software market share during the projected timeline. One of the major factors set to propel the demand for this software in the region is the increasing adoption of automation in the U.S.Competitive Landscape-Key Players Focus on Offering Innovative Products to Expand their Product LinesProminent enterprises operating in the global market are focusing on innovating cutting-edge products in order to help their customers run smooth business operations. This will also help them expand their product portfolios. For instance, in April 2020, Celonis GmbH launched the next-generation platform of its AI-assisted process mining software. This new platform will help businesses and clients develop purpose-built operational applications. Industry Developments-In December 2020, QPR Software Plc. announced a partnership agreement with The Customer, a European logistics company. Under this partnership, the company will support The Customer’s digital transformation and optimize its procurement processes.In March 2020, Celonis GmbH announced its partnership with Infosys. Under the partnership, the company will provide ERP modernization and business process optimization.A List of Key Manufacturers Operating in the Global Process Mining Software Market:UiPath (New York, United States)Celonis GmbH (Munich, Germany)Exeura (Italy)Fluxicon BV (The Netherlands)Fujitsu Ltd. (Tokyo, Japan)Hyland Software, Inc. (Ohio, United States)Minit (Bratislava, Slovakia)QPR Software Plc (Finland)Software AG (Darmstadt, Germany)ABBYY Solutions Ltd. (United States)Cognitive Technology Ltd (myInvenio) (Italy)Apromore Pty Ltd (Melbourne, Australia)BusinessOptix (United States)EverFlow (NJ, United States)Kofax (California, United States)Lana Labs GmbH (Berlin, Germany)Signavio GmbH (Berlin, Germany)
Quick Buy – Process Mining Software Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104792
Detailed Table of Content:IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesKey TakeawaysMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Process Mining Software Key Players Market Share Insights and Analysis, 2020Key Market Insights and Strategic RecommendationsCompanies Profiled (Covered for key 10 players only)OverviewKey ManagementHeadquarters etc.Offerings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGeographical ShareBusiness Segment ShareRecent DevelopmentsAnnexure / AppendixGlobal Process Mining Software Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028By Type (Value)Cloud-baseOn-premisesBy Enterprise Size (Value)Large EnterprisesSmall & Medium EnterprisesBy End User (Value)BFSIHealthcareRetailManufacturingIT and TelecommunicationLogistics and TransportationOthersBy Region (Value)North AmericaSouth AmericaEuropeMiddle East & AfricaAsia PacificTOC Continued..
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/process-mining-software-market-104792
Have a Look at Related Research Insights:
Task Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Organization Size (SMEs and Large Enterprises), By Deployment Type (Cloud and On-Premises), By End-User (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Retail, Healthcare, Manufacturing, Travel and Hospitality, Media and Entertainment, and Others) and Regional Forecast, 2020-2026Data Center Cooling Market Size, Share & Industry Analysis, By Product (Air Conditioners, Precision Air Conditioners, Chillers, Air Handling Unit, and Others), By Data Center Type (Large Scale DC, Medium Scale DC, and Small Scale DC), By Cooling Technique (Room-based Cooling, Rack-based Cooling, and Row-based Cooling), By Industry (BFSI, IT and Telecommunication, Manufacturing, Retail, Healthcare, and Others) and Regional Forecast, 2020-2026Learning Management System (LMS) Market Size, Share and Global Trend By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Organization Size (SME’s, Large Enterprises), By End User (Academic, Corporate) and Geography forecast till 2026Retail Analytics Market Size, Share and Global Trend By Type (Software, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Function (Customer Management, Supply Chain, Merchandising, In-Store Operations, and Strategy & Planning) and Geography Forecast till 2026Cyber Security Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities and Others) and Regional Forecast, 2020 – 2026
About UsFortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
 US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/global-process-mining-software-market-10526

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.