Business Process Management (BPM) in Real Estate Market Set to Grow USD 1,298.0 Million by 2021
The report “Business Process Management (BPM) in Real Estate Market by Component (Solutions and Services), Deployment Type (On-Premises and Cloud), Region (North America, Europe, Asia-Pacific, and Middle East & Africa) – Global Forecast to 2021″, The business process management (BPM) in real estate market is estimated to grow from USD 429.1 Million in 2016 to USD 1,298.0 Million by 2021, at a CAGR of 24.8% between 2016 and 2021.
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The market is primarily driven by the growing demand for optimizing business processes. The big data trend has fueled the demand for BPM software in the real estate sector. Furthermore, there is huge amount of data available on the internet, and thus, deployment of big data solutions has become essential to analyze the data acquired to make informed business decisions. This, in turn, has contributed to the increasing demand for the BPM software.
Based on component, the solution segment is expected to lead the BPM in real estate market during the forecast period
Based on component, the BPM in real estate market has been segmented into solutions and services. The solutions segment is expected to lead the BPM in real estate market between 2016 and 2021. There has been an increase in the adoption of monitoring & optimizing solutions in the real estate sector. Thus, the monitoring & optimizing solution segment of the BPM in real estate market is estimated to grow at the highest CAGR during the forecast period.
Based on deployment type, the cloud segment is projected to grow at the highest CAGR between during the forecast period
Based on deployment type, the cloud segment of the BPM in real estate market is estimated to grow during the forecast period due to increasing adoption of cloud by several organizations. Low maintenance cost as well as low investments are the major factors that have led to the increased adoption of cloud by real estate enterprises.
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North America is estimated to lead the BPM in real estate market during the forecast period
The BPM in real estate market has been studied for North America, Asia-Pacific (APAC), Europe, the Middle East & Africa (MEA), and Latin America. North America is estimated to account for the largest share of the BPM in real estate market in 2016. In North America, solutions, such process improvement and automation have enabled enterprises operating in this region to improve business productivity and reduce time-to-market. The North American region is considered to be one of the most advanced regions, in terms of technology adoption and infrastructure. A large number of BPM service providers, such as IBM (U.S.), Oracle Corporation (U.S.), Red Hat (U.S.), and BP Logix Inc. (U.S.), among others, are headquartered in various countries of North America, which, in turn, serves to be a key factor influencing the growth of the BPM in real estate market in the region.
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