Business Process Re-engineering Market

Business Process Re-engineering Market - Increasing Demand To Develop Efficient
Software For Business Operations Among Business Process Re-Engineering Vendors
Business process re-engineering is a business management strategy that is employed to achieve
core business processes such as improvement in productivity and quality of service. It also
involves radical rebooting or redesigning of business processes, with the objective of achieving a
significant increase in business performance including high returns on investment, efficient
business workflow, and cost reduction. In addition, business process re-engineering is employed
to build new infrastructure of the company to help it remain competitive in the marketplace.
Business process re-engineering re-organizes a business into cross-functional teams with
complete responsibility of a process, with a focus on customer values and needs. Furthermore,
organizations adopt business process re-engineering to improve their overall business operations
with the help of business process management and business process integration.
Increasing demand to develop efficient software for business operations among business process
re-engineering vendors is a key factor driving the global business process re-engineering market.
Growth of the BFSI (Banking, Financial Services and Insurance) sector is expected to boost the
global business process re-engineering market during the forecast period, owing to high quality
of services offered for customer acquisition and retention in the banking sector. Moreover, the
rising demand for productivity, accuracy, speed, and efficiency in business operations is
expected to drive the global business process re-engineering market during the forecast period.
Redundancies and low investments are factors expected to negatively impact the global business
process re-engineering market between 2019 and 2027. Increase in investments from software
companies for business process re-engineering solutions by well-established and emerging
players can overcome these hindrances in the near future.
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The global business process re-engineering market can be segmented based on deployment,
enterprise, end-user, software tool, service, component, and region. Based on deployment, the
market can be classified into cloud and on-premises. In terms of end-user, the market can be
segmented into government & defense, BFSI (banking, financial services and insurance), energy
& utilities, manufacturing, retail, transportation & hospitality, logistics, IT & telecommunication,
food & beverages, and others. Based on software tool, the global business process re-engineering
market can be divided into DEC model, ProcessWise, business design facility (BDF), and
enterprise modelling system. In terms of enterprise size, the market can be segregated into large,
small, and medium enterprises. Based on service, the global business process re-engineering
market can be categorized into professional services and managed services. Based on
component, the market can be segmented into product development, service delivery, and
customer satisfaction.
In terms of region, the global business process re-engineering market can be classified into North
America, Europe, South America, Middle East & Africa, and Asia Pacific. North America is
expected to account for a prominent share of the global market during the forecast period,
followed by Europe and Asia Pacific. North America and Europe hold a major share, due to
presence of well-established as well as emerging players providing business process reengineering software tools in the two regions. The market in North America is expected to
witness strong growth from 2019 to 2027, due to rising demand for efficient software for
business operations and increasing investments in new startups in the region. The market in Asia
Pacific is expected to expand at a rapid pace during the forecast period, owing to high
investments by enterprises in increasing the business productivity and efficiency.
Key players operating in the global business process re-engineering market are IBM
Corporation, Appian Corporation, The Hackett Group, Inc., Oracle Corporation, Software AG,
Adobe Inc., Microsoft Corporation, TIBCO Software, Cap Gemini., Fujitsu Ltd., Pegasystems
Inc. Selerant Corporation, and Accenture.

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