Process automation market to reach $10bn by 2020
Growth comes as oil and gas companies step up their automation strategies
Global process automation markets are expected to reach $10bn by 2020, almost a threefold increase from its current $3.4bn, a new report has found.
Growth comes as automation of process adapts to collaboration between people and business process management software, known as BPM, continue to connect people across applications, the report said.
“BPM is creating new market opportunities, as enterprises realise that automation of process is key to market growth,” it added.
The study identified IBM as the market leader in business process management (BPM) saying that in recent years the company has invested heavily in IT integration and analytics technology designed to support collaboration between people and systems.
Susan Eustis, lead author of the WinterGreen Research team that prepared the study, said: “Cloud computing, mobile computing, and smart devices represent the major forces impacting business process management (BPM) markets.
“IBM and others are leveraging patterns to gain competitive advantage in enterprise BPM markets. Managers use large BPM systems and small and mid-size business use the BPM cloud.”
Eustis added: “The opportunity to implement apps that make automated process more responsive to the needs of customers, partners, suppliers, and distributors, people use business process management (BPM) as the need for automation tools to help workers is upon all of us.”
IBM is a key technology provider to the oil and gas industry worldwide.