According to a recent Industry Arc report, increasing advancements in technology has raised the requirement for connected devices and real-time data for making crucial business decisions. Utilization of smart devices such as phones, tablets and other digital assets have changed the corporate landscape. The shift in business models to conducting of business tasks from anywhere and at anytime has increased dependency on cloud connectivity. This dependency has led to adoption of mobile business process management (MBPM) systems that equip employees with the ability to work from outside office, and stay updated on corporate data in real time.
MBPM further includes modeling, automation, execution, control, measurement and optimization of business activity flows. The incorporation of mobile BPM in organizations improves business responsiveness and optimizes productivity. Research shows a rise in adoption of cloud-based technologies, IoT, big data and analytics, and social media platforms is expected to further drive the mobile business process management (MBPM) market and reach $26 billion in 2025.
According to a press release, MBPM has been adopted by various organizations to offer employees the option to work from remote locations. The advancement of technology such as through machine learning capabilities, big data, artificial intelligence and so on has made MBPM an essential system for enterprises. MBPM allows employees to access the organization’s information, resources and data from anywhere at all, through various mobile devices such as smartphones, laptops and others.
Mobile Business Process Management Market Growth Drivers:
- Workforce Collaboration: Nowadays, chat and sharing of data between employees has become a crucial factor for running a business, and these are made possible through MBPM solutions. Features of MBPM such as data integration and process-related alerts reduce the number of emails and of other communication that decreases efficiency of the workplace, irrespective of industry. Thus, mobile business process management increases scalability and data networking offered through cloud computing technology.
- Enhancement of Enterprise Mobility: Advancement in technologies such as IoT, big data, and artificial intelligence are playing a key role in adoption of mobile business process management. Moreover, implementation of enterprise mobility has led to an increasing need for MBPM solutions for increasing productivity, data accuracy and for reducing operational costs. According to Statista, in 2019, the enterprise mobility management market is expected to generate revenue of around $3 billion that will provide increased opportunities for the MBPM market.
- Adoption of Adaptive Case Management: MBPM solution providers are in the process of including adaptive case management (Intelligent MBPM) that will increase efficiency of predictable tasks and form structured processes. Even companies like Kissflow are adopting adaptive case management in mobile business process management.
According to the report, the healthcare sector is the most lucrative vertical for the mobile business process management companies, increasing at a significant CAGR of 7% to 8% during the aforementioned forecast period. Many hospitals are adopting MBPM solutions for streamlining functions such as leave administration, task management, document management, and availing access to mobile applications for performing immediate tasks.
The major players in Mobile Business Process Management market include Nintex Global Ltd., IBM Corporation, AgilePoint Inc., Aurea Software Inc., BizFlow Corporation and others. These companies have been continuously focusing on R&D investments, acquisition and partnership strategies to strengthen their business portfolio of online advertising.
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