Quick answer
The future of BPM is promising, projected to grow from $11.67 billion in 2022 to $54.34 billion by 2035. To capitalise on this growth, focus on streamlining processes through automation and digitalisation.
In 2022, the Business Process Management (BPM) market saw growth reaching over $11.67 billion . Projections indicate that by the end of 2035, the future of BPM will involve a market size of $54.34 billion.
Despite an overall recession in the IT sector at the back end of 2023 and beginning of 2024, the long-term outlook for BPM is good. While the future of BPM looks bright, and for broader insights into changing landscapes, check out how AI is shaping marketing’s future , demand doesn’t necessitate sales.
There are several ways to capitalise on this BPM market growth and align with B2B digital marketing trends and we’ve compiled them here in a handy list, just for you. Scroll down to read them now if you’re in a hurry. Otherwise, read on to understand the context for this growth. If you’re looking to engage non-tech decision makers, have a look at our strategies we’ve put together with that audience in mind.
The value of business process management
Every business operates via processes, and there are benefits to them being streamlined. Fixing bad processes is an easy way to tackle cost overheads, inefficiencies, and the balance between overcommunication and “autopilot employees”.
Business process management is anything that involves the systematic management of an organisation’s processes. Process automation, for example, uses software to automate business tasks. When the tasks are easily digitalised (e-signature for example), cost and time savings can be gargantuan.
Why is BPM growth 2024 happening?
Business leaders want technologies that impact quickly, deliver tangible results, and can be scaled throughout an organisation and BPM is the perfect solution for this.
BPM solves so many pain-points, including:
- Inefficient processes
- Slow processes
- Bottlenecks
- Regulation challenges
- Visibility over company activity
- Communication issues
BPM market growth is happening because buyers have realised the benefits. One successful automation tool opens the door to others. And the ROI is generally quick, leaving business leaders in no doubt of its potential.
Capitalising on BPM growth 2024
Capitalising on BPM market growth means reaching customers who need the right tools and solutions. That’s it. Luckily, the demographic is large, and BPM providers should cast a wide net.
Here are five ways to capitalise on BPM market growth:
Segment your audience, discover their pain points, and create niche content. Rank your audiences from BPM-ready to BPM-adverse.
Partner with other technology companies. Nintex , for example, partners with Microsoft . Their BPM solutions integrate with popular software platforms (e.g. Microsoft 365).
Deliver exceptional customer onboarding. If a customer realises the success, and potential, of one tool, they will expand on their stack.
Train your customers. It’s not enough to advertise benefits. Educational content is vital to train your customers, and it also demonstrates value. A step-by-step video guide shows how the tech really works
Invest in market research. The BPM market is expanding generally, but from sector to sector, needs will vary. A sector under budgetary constraints might opt for a low-cost tool. A sector like construction, with low technology literacy, might opt for a no-code, or “citizen developer” tool. Make sure you’re speaking to your audience.
BPM trends 2024
The BPM market is growing, but what about the trends that sit within it? With generative AI on the rise, and automation becoming mainstream, BPM trends 2024 look something like this:
BPM democratisation
“No code” and citizen developer tools are on the rise. The market has been growing year-on-year – from $3.47 billion in 2019, to an estimated $12.3 billion in 2024 .
Key takeaway: Make it clear to your customer that no-code BPM tools can be used anywhere, and by anyone.
Integration of BPM into other platforms
Large software providers, like Microsoft and Salesforce, have been incorporating BPM into their platforms for a while. Whilst vendor consolidation (i.e. one tech provider) is a trend, B2B buyers are looking for software solutions that do more for less.
Key takeaway: Demonstrate the integration potential of your BPM tool. A visual infographic or one-pager could show off how seamless your tool is.
Automated process discovery
Unravelling which processes were “ripe” for automation used to be a manual effort. Now this can also be automated. Brands like Nintex offer solutions like Kyron Process Discovery .
Key takeaway: Advertise your BPM solutions as “end-to-end”. Show the journey, for example, from process discovery through to analysis of process metrics.
Reaching BPM buyers in 2024
The current BPM market growth signifies that people are actively seeking solutions. For BPM vendors, capitalising on this market growth is essential. Following the steps above, and keeping a keen eye on BPM trends, is a sure-fire way to capture market share. If you find this article valuable you might also like our post on broader technology predictions for 2024 .
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At Fifty-Five and Five , we’ve created – and delivered – campaigns for BPM heavyweights, including Nintex. Our experience in BPM marketing has given us a deep understanding of the industry and the needs of BPM buyers.
The future of BPM, and the strength of vendors, depends on how BPM brands speak to their customers, align with timely pain points, and create retention for their brand.