With growing competition in the automotive business, there has been a need for adoption of automation in business processes. The increasing adoption and inclination towards automation in the business is expected to boost the growth of the automotive BPM market. The emergence of advanced technology such as cloud computing and big data provide better efficiency in the business which is expected to boost the growth of the automotive BPM market with a CAGR of 13% over the period 2016-2024. Further, reduction in the production cost without compromising with the quality with the help of BPM, improved customer satisfaction level is expected to boost the growth of the automotive BPM market.
The automotive BPM market is segmented by component, functionality, deployment mode & organization size, out of which, the large organization segment is anticipated to have leading significant growth on the back of the believe that the automation of the business processes can help generate more revenue and increased customer satisfaction level. Further, the large organization segment is estimated to achieve Y-o-Y growth rate of around 13% till 2024.
Based on region, the automotive BPMmarket is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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Europe is expected to grow rapidly in the market on the back of adoption of new way of business process and need of minimization in operational time. Asia- Pacific is expected to witness high growth in the global market on the back of Asia-Pacific emerging as an automotive destination. North America is expected to show a significant growth on the back of expanding automotive market.
Industry Players are Progressing towards Minimizing the Barriers faced by the Automotive BPM Market
Business process fusion is less adopted by the businesses due to lack of knowledge about its benefits. High initial cost of business process fusion technology is expected to be a major restraining factor for businesses which is projected to hinder the growth of the automotive BPM market during the forecast period.
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The report titled“Automotive BPM Market Outlook: Industry Insights & Opportunity Assessment 2016–2024”delivers detailed overview of the global automotive bpm market in terms of market segmentation by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive bpm market which includes company profiling of SAP SE, Peoples Soft, Oracle, International Business Machines Corporation, Capgemini Group, Infosys ltd., Wipro ltd. and Larsen & Toubro InfoTech. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global automotive bpm market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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