HYDERABAD, India, June 27, 2019 /PRNewswire/ -- Increasing advancements in technology has raised the requirement for connected devices and real-time data for making crucial business decisions. Utilization of smart devices such as phones, tablets and other digital assets have changed the corporate landscape. The shift in business models to conducting of business tasks from anywhere and at anytime has increased dependency on cloud connectivity. This dependency has led to adoption of mobile business process management (MBPM) systems that equip employees with the ability to work from outside office, and stay updated on corporate data in real time. MBPM further includes modeling, automation, execution, control, measurement and optimization of business activity flows. The incorporation of mobile BPM in organizations improves business responsiveness and optimizes productivity. Rise in adoption of cloud-based technologies, IoT, big data and analytics, and social media platforms is expected to further drive the mobile business process management (MBPM) market and reach $26 billion in 2025.
MBPM has been adopted by various organizations to offer employees the option to work from remote locations. The advancement of technology such as through machine learning capabilities, big data, artificial intelligence and so on has made MBPM an essential system for enterprises. MBPM allows employees to access the organization's information, resources and data from anywhere at all, through various mobile devices such as smartphones, laptops and others. MBPM circulates information to all the employees of a company, including those at remote locations.
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In the healthcare sector, MBPM helps in designing business processes and automates the procurement process for modern equipment. It makes handling of documents more organized and helps in automating registration and other processes. Many hospitals are adopting MBPM solutions for streamlining functions such as leave administration, task management, document management, and availing access to mobile applications for performing immediate tasks. MBPM in the healthcare sector automates all aspects of business management, and complies with all regulations, standards and protocols; thereby making business operations more effective and competitive. It is also estimated that the healthcare sector is the fastest growing segment at a CAGR of 9% during the forecast period.
Europe has largely dominated the Mobile Business Process Management market with a share of 35% in 2018. In Europe, MBPM vendors are building machine learning and AI capabilities into their platforms for supporting predictive analytics and proactive application behavior. Most developed countries such as the U.K., Germany, France and so on are majorly focusing on adopting mobile business process management in order to improve their business processes and enhance productivity. The rapid growth of enterprise mobility has augmented the MBPM market in Europe.
Mobile Business Process Management Market Growth Drivers:
- Workforce Collaboration: Nowadays, chat and sharing of data between employees has become a crucial factor for running a business, and these are made possible through MBPM solutions. Features of MBPM such as data integration and process-related alerts reduce the number of emails and of other communication that decreases efficiency of the workplace, irrespective of industry. Thus, mobile business process management increases scalability and data networking offered through cloud computing technology.
- Enhancement of Enterprise Mobility: Advancement in technologies such as IoT, big data, and artificial intelligence are playing a key role in adoption of mobile business process management. Moreover, implementation of enterprise mobility has led to an increasing need for MBPM solutions for increasing productivity, data accuracy and for reducing operational costs. According to Statista, in 2019, the enterprise mobility management market is expected to generate revenue of around $3 billion that will provide increased opportunities for the MBPM market.
- Adoption of Adaptive Case Management: MBPM solution providers are in the process of including adaptive case management (Intelligent MBPM) that will increase efficiency of predictable tasks and form structured processes. Even companies like Kissflow are adopting adaptive case management in mobile business process management.
R&D Investment, Acquisition and Initiative, Funding:
In 2017, business process management company WNS Global acquired US-based HealthHelp for $95m, in a bid to strengthen its healthcare and insurance BPM offerings. In 2018, AGS technologies, a provider of Enterprise Information Management & IT solutions announced acquisition of Mowbly, a business process mobility platform company. This acquisition has helped ASG Technologies to extend its enterprise management capabilities along with BPM capabilities.
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The Major Players in this Market Include:
The major players in Mobile Business Process Management market include Nintex Global Ltd., IBM Corporation, AgilePoint Inc., Aurea Software Inc., BizFlow Corporation and others. These companies have been continuously focusing on R&D investments, acquisition and partnership strategies to strengthen their business portfolio of online advertising.
In July 2018, Nintex, a company offering intelligent process automation (IPA) announced the acquisition of Promapp, a business process management software company. Promapp has helped Nintex customers to effectively automate and optimize business processes. The BPM software provided by Promapp will integrate the world's leading business ecosystems and apps.
The increasing utilization of mobile app-enabled applications and the ability to work remotely from anywhere and at any point of time has propelled the mobile business process management market. The rising advantages of enterprise mobility has further led to adoption of MBPM solutions in organizations for implementing business processes and increasing productivity. MBPM solutions along with in-built mobile application are developing capabilities that deploy, develop and help in managing multiple mobile environments. The combination of mobile business process management solutions with enterprise applications will equip organizations with greater efficiency and also ensure more reliable returns on investment (ROI). MBPM solutions are widely gaining attention in the corporate environment and are providing various benefits such as complexity reduction, faster planning, increased profit and so on. The increasing benefits of MBPM and escalating use of enterprise mobility will further accelerate growth of the MBPM market.
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