Report Ocean is a comprehensive analysis of the “Process Analytics Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
The Global Process Analytics Market, valued at approximately USD 0.67 billion in 2022, is poised for robust growth, projected to surge with a healthy growth rate of more than 44.6% over the forecast period from 2023 to 2030.
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Refreshed Content:
Process analytics involves the systematic evaluation of business processes, such as budgeting or manufacturing, to assess performance and identify areas for enhancement. This meticulous analysis is pivotal for businesses undergoing digital transformation and facing intensified competition, necessitating a deeper understanding of business processes. The increasing adoption of algorithms to streamline the process analytics industry and the positive role played by task-level automation are significant factors propelling this growth.
Furthermore, the rising adoption of cloud AI and business analytics tools has been a key driver for the Process Analytics Market. Notably, in the United States, AI-related job postings have risen from 1.7% in 2021 to 1.9% in 2022 across various sectors, indicating a growing demand for workers with AI-related skills. The market also benefits from the increasing adoption of advanced strategic platforms that incorporate process analytics, automation, and AI technologies in the Asia Pacific region. Despite these promising trends, the market faces challenges such as increasing competition from open-source alternatives, hampering growth throughout the forecast period from 2023 to 2030.
Market Dynamics:
- The global autonomous vehicle market, valued at USD 106 billion in 2021, is projected to reach USD 2.3 trillion by 2030.
- AI-related job postings in the United States have risen from 1.7% in 2021 to 1.9% in 2022.
- The Asia Pacific region witnesses a surge in the adoption of advanced strategic platforms incorporating process analytics, automation, and AI technologies.
Key Regions:
North America leads the market in 2022 due to the initial adoption of advanced process analytics technology, resulting in improved technological effectiveness. Asia Pacific is expected to witness significant growth, driven by the surge in the adoption of advanced strategic platforms.
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Major Market Players:
Key market players shaping the landscape include Fluxicon BV, CA Technologies, Monkey Mining BV, Scheer GmbH, Logpickr, Icaro Tech, Kofax Inc., Worksoft, Inc., Cognitive Technology, and QPR Software.
Recent Developments:
- August 2021: Appian acquired Lana Labs, known for the LANA Process Mining Platform, offering robust AI- and machine learning-based process analysis.
Objective of the Study:
The study aims to define market sizes of different segments & countries in recent years and forecast values to the coming years. The report incorporates both qualitative and quantitative aspects, analyzing driving factors, challenges, potential opportunities, competitive landscape, and product offerings of key players.
Detailed Segments and Sub-segments:
By Process Mining Type:
- Process discovery
- Process conformance
- Process enhancement
By Deployment Mode:
- On Premise
- Cloud
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By Organization Size:
- Large Enterprise
- Small and Medium Enterprises
By Application:
- Business Process
- Information Technology Process
- Customer Interaction
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Report Scope:
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
- Segments Covered: Process Mining Type, Development Mode, Organization Size, Application, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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