BPM to Hit $2.7 Billion in 2015, Driven in Part by Internet of Things

The worldwide market for business process management (BPM) software is expected to reach $2.7 billion in 2015, an increase of 4.4 percent over 2014, according to the information technology research and advisory company Gartner.

The reason for this growth is the move to intelligent business process management suites (iBPMS), according to Gartner. Organizations are shifting their business models and processes to be more responsive to their constituents. To support that shift, they need systems that are more flexible and dynamic.

"The ability to provide more 'joined up' insight into business processes through the use of analytics — combined with support for the people involved in processes, allowing them to take advantage of this insight — is what differentiates today's iBPMS market from earlier BPMS technology markets," said Rob Dunie, research director at Gartner, in a prepared statement.

Gartner identified four significant trends in the iBPMS market:

  • The shift from continuous process improvement to business transformation in response to both internal and external forces, as well as a push for greater efficiency;
  • Use of iBPMS to power digitized processes that integrate Internet of Things (IoT) technology, including sensors, smart technology and robots, with advanced analytics technology, such as pattern recognition and predictive analytics to support process innovation;
  • A shift from short-lived, transactional system-oriented processes to long-lived processes that include people, systems and functional boundaries; and
  • Improved mobile, social, cloud and analytics features in iBPMS to support more system and human intelligence within business processes.

Gartner's full report, "Magic Quadrant for Intelligent Business Process Management Suites," is available to Gartner clients through the company's site.

About the Author

Leila Meyer is a technology writer based in British Columbia. She can be reached at [email protected].