Market Analysis: Global Process Analytics Market
Global Process Analytics Market is expected to rise from its initial estimated value of USD 189.89 million in 2018 to an estimated value of USD 4974.11 million by 2026, registering a CAGR of 50.41% in the forecast period of 2019-2026. Increasing focus on improving customer experience is the major factor for the growth of this market.
Market Definition: Global Process Analytics Market
Process analytics is a method which is used to improve the functioning of the system by improving the efficiency and effectiveness so that it can achieve its end goals. The main aim of the process is to check how process is working and make required changes so that process can be improved. These days they are widely used in industries like telecommunication, retail, healthcare etc. Increasing prevalence for task- level automation among consumer is fuelling the growth of this market.
Major Market Competitors/Players: Global Process Analytics Market
Few of the major competitors currently working in the global process analytics market are
- Fluxicon BV,
- Icaro Tech,
- KOFAX INC.,
- Lana Labs GmbH,
- Worksoft, Inc.,
- QPR Software,
- Cognitive Design Technology,
SNP Schneider-Neureither & Partner SE, Software AG, FUJITSU, Broadcom, Process Analytics Factory GmbH, StereoLOGIC.
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Competitive Analysis: Global Process Analytics Market
Global process analytics market is highly 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. The report includes market shares of process analytics market for global, Europe, North America, Asia-Pacific and South America.
Market definition covered in this Process Analytics Market report studies the market drivers and market restraints with which businesses can get idea of whether to increase or decrease the production of a particular product. With the studies, insights and analysis mentioned in the report, you get comprehensible idea about the marketplace with which you can take business decisions quickly and easily. The research and analysis conducted in this Process Analytics Market report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of Global market research analysis.
Segmentation: Global Process Analytics Market
Global Process Analytics Market
By Process Mining Type (Process Discovery, Process Conformance, Process Enhancement),
By Deployment Type (On- Premises, Cloud),
By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises),
By Application (Business Process, Information Technology Process, Customer Interaction),
By Types (Software, Services), Industry (BFSI, Telecommunications and IT, Retail and e-commerce, Government and defense, Healthcare, Manufacturing, Energy and utilities, Construction and engineering, Others),
By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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- Rising adoption of task- level automation is driving the growth of this market
- Increasing partnership between process analytics and ERP vendor is another factor driving the growth of this market
- Lack of skilled and trained professional is restraining the growth of this market
- Increasing demand of open- source alternatives for commercial solutions is another factor driving the growth of this market
Key Developments in the Market:
- In May 2019, Moody’s Analytics announced the launch of their new risk and analytics platforms- CAP solution. This specially designed to provide the risk management professionals direct access to the same data and models that Moody Analytics uses. This will also help the financial institution to reduce the overall cost and maintenance and support of the models.
- In April 2019, Repligen Corporation announced that they have acquired C Technologies Inc. which helps the Repligen to grow in the Process Analytics segment of bioprocessing with best- in- class protein measurement technologies and new developed products. This acquisition will also help the company to expand their business and improve their business with new developments.
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Research Methodology: Global Process Analytics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry. The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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