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Process Analytics Market by Process Mining Type, Deployment Type, Organization Size, Application And Region - Global Forecast to 2023

Process Analytics Market: Global Forecast until 2023

  • June 2018
  • 127 pages
  • ID: 5442748
In this report:
The overall process analytics market by application is expected to grow from USD ##.## million in 2018 to USD ##,##.## million by 2023, at a CAGR of ##.##% during the forecast period.
The total process analytics market size by process mining type is expected to grow from USD ##.## million in 2018 to USD ##,##.## million by 2023, at a CAGR of ##.##% during the forecast period.

Summary

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The process analytics market is expected to grow at a Compound Annual Increase rate of 50.30 percent during the forecast period.

The overall process analytics market size is forecasted to grow from $185.30M in 2018 to $1421.70M by 2023, at a Compound Annual Rise rate of 50.30 percent during the forecast period. The implementation of digital transformation that is driving users' appreciation for analyzing and understanding business processes, and the advent of the algorithmic business are the main driving factors for the process analytics market. Collaborations between process analytics and Enterprise Resource Planning vendors, and the increase in the implementation of the task level automation are also driving the process analytics market rise. Nevertheless, the competition from open-source alternatives could be a main restraining factor for the market increase.

The process conformance subsegment is anticipated to grow at the highest compound annual growth rate (CAGR) during the estimate period.

In the process conformance subsegment, the data mining software is used for process conformance checks, wherein the event logs are checked against ideal processes.The process mining software converts the event logs into a process model and checks them against ideal and pre-defined processes.

Therefrom, deviations between the derived business process model and ideal processes can be diagnosed, and non-conformance can be highlighted and visualized.

The on-premises subsegment is intended to account for the larger market size in the deployment type segment during the outlook period.

The on-premises deployment type refers to the installation of the software in premises of an organization.The software is delivered on a one-time license fee, together with an annual services agreement, which comprises free upgradation and installation of new functionalities.

The deployment of on-premises process analytics software requires dedicated infrastructure and servers. Institutions that can afford managing dedicated servers, usually deploy the on-premises software.

EU is forecasted to account for the biggest industry size, and North America continent is expected to show the maximum growth rate during the estimate period.

Europe (EU) is the most important contributor to the process analytics market, due to the widespread acceptance of innovations and the upcoming analytics technology among the big numbers of vendors operating in the area.Germany (DE) and the netherlands (NL) are the top countries providing to the process analytics market in EU.

Together with these countries, various other European countries are also incorporating the process analytics software into their existing analytics portfolio to receive fast and actionable executive insights to keep pace with their analytics-driven competitors in the other regions. Companies in the european area are adopting the advanced process analytics software to fulfill the increasing needs for the data-driven decision-making across all verticals.

North America (NA) accounts for the biggest opportunity in the process analytics market.The area is forecast to offer a huge market scope for the adoption of the process analytics software during the outlook period.

Commercial entities and government organizations have expressed an interest in implementing process analytics solutions over the traditional Business Process Management solutions.

In the process of finding out and checking the market size of different segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with the top people. The distribution of profiles of the primary participants is like:

• By Organization: Tier 1 - 30 %, Tier 2 - 40.0 percent, and Tier 3 - 30.0 percent

• By Description: C-suite - 72.0 percent, D-level - 14.0 percent, and Others - 14.0 percent

• By Area: Europe (EU) - 57.0 percent, North America continent - 14.0 percent, and Asia-Pac and rest of the world - 29.0 percent

The process analytics market includes different main vendors, including Celonis, Fluxicon, Icaro Tech, Kofax, Lana Labs, Minit, Logpickr, TimelinePI, Scheer, Monkey Mining, Worksoft, Puzzle Data, QPR Software, Cognitive Technology, Signavio, SNP, Your Data, Process Mining Group, Software AG, Fujitsu (TYO:6702), CA Technologies, Process Analytics Factory, StereoLOGIC, Intellera, and ProcessGold.

Segment Research

The analysis includes a detailed competitive analysis of the top players in the process analytics market, together with their company descriptions, recent evolutions, and the top market strategies. The document breaks down the process analytics market by process mining type, deployment type, organization size, application, and area.

Why acquiring this study can help you:

The industry report is expected to benefit the market top players/new sector entrants in the process analytics market in these ways:

1. The global process analytics market revenue stream has been estimated based on the license and, rental and maintenance revenues generated by sellers, which offer process analytics software. The study offers the best approximations of the revenue data for the global market and the sub-segments. The industry numbers are further split into applications and localities.

2. The analysis benefits partners distinguish the pulse of the sector and offers them with the info on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research would benefit partners comprehend players and obtain additional insights to better their market position. The competitive outlook section includes the competitor ecosystem, new industry product developments, alliances, and mergers and acquisitions.

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