Business Process Re-engineering Market: Global Industry Analysis and Forecast (2022-2029)

Business Process Re-engineering Market size was valued at US$ 9.64 Bn. in 2021 and the total revenue is expected to grow at 10.52 % through 2021 to 2029, reaching nearly US$ 21.47 Bn.
Business Process Re-engineering Market Overview:
BPR (business process reengineering) is a change management strategy in which the actions required to achieve a certain business objective are drastically reimagined. BPR's main purpose is to examine workflows within and across businesses in order to improve end-to-end processes and reduce jobs that don't provide value to the consumer.

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Business Process Re-engineering Market Dynamics:
Business process reengineering market is being driven by the adoption of industrial developments for better work organisation across sectors. In recent decades, the business has faced new competitors that have required reducing costs and increasing production while maintaining service and producing high-quality products. By increasing the production efficiency and quality of the final product or operation, business process reengineering increases overall performance and durability. For the best results, business process reengineering looks into workflows and procedures within and between companies. For example, client service requires the product of a multi-divisional corporate process. In order to satisfy organisational goals in terms of cost, reaction time, suitability, reliability, and other factors, BPR must revaluated current practises.

SAP, JD Edwards, Google, as Redhat hopped on the BPR bandwagon fast, touting respective products for solutions for the redesign and improvement of business processes, almost suddenly, contributing in the growth of BPR into a multibillion-dollar industry. Consultants followed the money, and companies that had previously positioned their systems intellectual capabilities as re - engineering experts found themselves in growing market.

BPR was once thought to be little more than a corporate buzzword with historical significance in the early twentieth century. However, a recent emphasis in business on digitalization as a means of gaining the competitive advantage, as well as the increasing prevalence of the Internet of Things (IoT) and advances in artificial intelligence (AI), has prompted many businesses to radically rethink their workflows and make technology-driven changes. Business process reengineering is projected to be a key component of most business transformation and enterprise resource planning activities in the coming decades.
Business Process Re-engineering Market Segment Analysis:
Based on the Service, the global Business Process Re-engineering market is sub-segmented into Professional Service and Managed Service. The Professional Service segment held the largest market share of xx% in 2021. Professional services assist firms in overcoming unique issues through the implementation of a focused project, such as a cloud migration or the installation of new technology. This is a one-time project with a broad scope that can include everything from planning and strategy through design, execution, adoption, training, and even future ongoing support.

Based on the End-User, the global Business Process Re-engineering market is sub-segmented into BFSI, Government & Defense, IT & Telecom, Manufacturing, Retail, Transportation & Logistics, Food & Beverages and Others. The BFSI segment held the largest market share of xx% in 2021. The BFSI industry is constantly evolving, and the banking industry has made significant progress in recent years as a result of increased competition. Banks compete with one another to entice clients with increasingly individualised service. Banks have emphasised BPR to improve organisational performance, reduce transaction process time without sacrificing security, quality, or real-time service with High-tech banking via digital technologies to revolutionise customer-financial institution interactions and also to respond to challenges such as globalised business, spread patrons, and re - position itself to meet the high requirements of the customers for rapid funds mobility.
Business Process Re-engineering Market Regional Insights:
North America held the largest market share of xx% in 2021. Various end-users, such as BFSI, transportation, logistics, telecom, and others, have been increasing their demand for effective business software, which is expected to increase the BPR market in North America. Increased investments in startups and government regulations for the BPR, on the other hand, are estimated to provide a deluge of lucrative opportunities in the region.

Asia Pacific is expected to grow at a highest CAGR of xx% in the global business process re-engineering market during the forecast period. Due to rising economies' large investments in efficient software to boost corporate productivity and efficiency in countries such as India and China The banking sector in India is fast rising, and demand for BPR is increasing to sustain long-term profitability and increase banks' competitive edge in adapting to changing market realities, which is likely to give the BPR market in the region a major boost.

The objective of the report is to present a comprehensive analysis of the global Business Process Re-engineering Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Business Process Re-engineering Market dynamic, structure by analyzing the market segments and project the global Business Process Re-engineering Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Business Process Re-engineering Market make the report investor’s guide.
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Business Process Re-engineering Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.64 Bn.


Forecast Period 2022 to 2029 CAGR:
10.52%
Market Size in 2029:
US $ 21.47 Bn.


 Segments Covered:
by Component
• Product Development
• Service Delivery
• Customer Satisfaction


by Service
• Professional Services
• Managed Services


by Enterprise Size
• SMEs
• Large Enterprises


by Deployment
• Cloud
• On-Premises


by End-User
• BFSI
• Government & Defense
• IT & Telecom
• Manufacturing
• Retail
• Transportation & Logistics
• Food & Beverages
• Others



Business Process Re-engineering Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Business Process Re-engineering Market Key Players
• IBM
• Appian Corporation
• The Hackett Group, Inc.
• Oracle
• Software AG
• Adobe Inc.
• Microsoft
• TIBCO Software
• Capgemini.
• Fujitsu Ltd.
• Pegasystems Inc
• Selerant Corporation
• Accenture.
• Accelya
• Datamark
• QDegrees
• QuickBase
• Verint
• Allsec Technologies
• Innovation Group
• WNS
• ATG Consulting
• KPMG
• Skaled

Frequently Asked Questions:

1] What segments are covered in Global Business Process Re-engineering Market report?
Ans. The segments covered in global Business Process Re-engineering Market report are based on Component, Service, Deployment, Enterprise Size and End-User.

2] Which region is expected to hold the highest share in the global Business Process Re-engineering Market?
Ans. North America is expected to hold the highest share in the global Business Process Re-engineering Market.

3] What is the market size of global Business Process Re-engineering Market by 2029?
Ans. The market size of global Business Process Re-engineering Market is expected to reach US $ 21.47 Bn. by 2029.

4] Who are the top key players in the global Business Process Re-engineering Market?
Ans. IBM, Appian Corporation, The Hackett Group, Inc., Oracle, Software AG, Adobe Inc. and Microsoft are the top key players in the global Business Process Re-engineering Market.

5] What was the market size of global Business Process Re-engineering Market in 2021?
Ans. The market size of global Business Process Re-engineering Market in 2021 was worth US $ 9.64 Bn.