Global Process Analytics Service Market– Industry Trends and Forecast to 2025
Global Process Analytics Service Market, By Process Mining Type (Process Discovery, Conformance, Enhancement), Deployment Type (On-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Application(Business Process, Information Technology Process, Customer Interaction), Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
The Global Process Analytics Service Market is expected to reach USD 3218.1 million by 2025 from USD 124.9 million in 2017 and is projected to grow at a CAGR of 50.1% in the forecast period of 2018 to 2025.
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The renowned players in process analytics service market are Lana Labs, Minit, Logpickr, Timelinepi, Scheer, Monkey Mining, Celonis, Fluxicon, Icaro Tech, Kofax, Worksoft, Puzzle Data, QPR Software, Cognitive Technology, Signavio, SNP, Your Data, Process Mining Group, Software AG, Fujitsu, Kofax, CA Technologies and many more.
Market Definition: Global Process Analytics Service Market
Process analytics is used for improving the understanding of the system alongside deciding the potential focuses for process improvement by removing waste and increase efficiency. It also refers to a detailed breakdown of the phases of the procedure for conveying input and output at each phase. Implementation of digital transformation will create awareness for analyzing and accepting business process. Moreover, it is collaboration between process analytics and Enterprise Resource Planning (ERP) vendors. For instance, in 2018, Software AG launched a strategic partnership with GFT’s consultancy expertise. It provides digital platform for innovation and industrial production. According to Statista, in 2017, the IT process was projected to reach around USD 200 billion worldwide by 2019.
Market Drivers and Restraints:
- Rise in the implementation of task-level automation
- Raising need for enhance process auditing and compliance
- Increasing collaborations between process analytics and ERP vendors
- Lack of skills and expertise
Market Segmentation: Global Process Analytics Service Market
Based on process mining type,
- Process Discovery
- Conformance
- Enhancement
Based on deployment type,
- On-Premises
- Cloud
Based on organization size,
- Small And Medium-Sized Enterprises
- Large Enterprises
Based on application,
- Business Process
- Information Technology Process
- Customer Interaction
Based on geography,
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Process Analytics Service Market
The global process analytics service market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of process analytics service market for global, Europe, North America, Asia Pacific and South America.
In 2018 Software AG acquired Trendminer to expand its IoT portfolio with the help of time – series data used in AI algorithms.
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Table Of Content: Global Process Analytics Service Market
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Global Process Analytics Service Market Landscape
Part 04: Global Process Analytics Service Market Sizing
Part 05: Global Process Analytics Service Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
And More…..Get Detailed TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-process-analytics-service-market