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Global Process Mining Software Market Share, Forecast: By Component: Software, Services; By Deployment Mode: On-Premise, Cloud; By Application: Strategic Sourcing, Contract Management, Category Management, Transactional Procurement, Supplier Management; By Industry Vertical; Regional Analysis; Competitive Landscape; 2024-2032
Global Process Mining Software Market Outlook
The global process mining software market size reached USD 1,200.11 million in 2023. The market is expected to grow at a CAGR of 40.2% between 2024 and 2032, reaching almost USD 25,116.20 million by 2032.
Key Takeaways:
- Canada's ICT industry heavily depends on trade, importing $43.2B and exporting $12.5B globally in 2022. The US, a major supplier and top export market, shipped $8.1B in 2022, fuelling global process mining software market growth.
- In 2022, the National Bureau of Economic Research highlighted China's insurance sector's growth, reaching 4,695 billion CNY, fuelling the global process mining software market.
- Process mining software aids companies by analysing data like event logs, transactions, and orders to optimise processes, ensure compliance, improve supply chain efficiency, and automate tasks.
Process mining software, a tech tool for businesses, extracts insights from IT systems by analysing diverse data like event logs, transactions, orders, and configurations. It optimizes processes, ensures compliance, boosts supply chain efficiency, and aids in fraud prevention and automation.
According to the global process mining software market report, its advantages include improved performance, customer satisfaction, productivity, cost savings, and risk management. Widely used in BFSI, retail, telecom, IT, logistics, and manufacturing, it aids in understanding operations and mitigating financial and security risks.
As per the International Trade Administration, Canada's ICT sector relies heavily on trade, importing $43.2 billion and exporting $12.5 billion globally in 2022. The United States is a major ICT supplier to Canada and its top export market, with $8.1 billion shipped in 2022, boosting the global process mining software market growth.
Key Trends and Developments
Analytical integration, process mapping, real-time monitoring, and user-friendly interfaces are driving the growth of the global process mining software market.
November 2023
Celonis, a worldwide leader in process mining, announced its acquisition of Symbioworld GmbH, an inventive provider of AI-powered Business Process Management (BPM) software.
July 2023
Microsoft had launched Power Automate Process Mining with next-generation AI. This updated version allows businesses to gain comprehensive insights, simplify processes, and drive operational enhancements through automation and low-code apps.
May 2023
Pegasystems launched Pega Process Mining to streamline the identification and resolution of process inefficiencies for users of all expertise levels, integrating seamlessly into the Pega Platform.
May 2023
Mindzie, Inc., a leading provider of AI-driven process mining and business optimization software, unveiled its innovative Business Process Mining platform, now enhanced with Generative AI.
Analytical integration
The integration of advanced analytics such as machine learning and AI algorithms drives the global process mining software market developments. This integration enhances capabilities, offering deeper insights, predictive analysis of process behaviour, and efficient anomaly detection for improved decision-making.
Process Mapping
As per the global process mining software market analysis, the industry is witnessing a rise in the trend of mapping processes across multiple systems. This trend enables a holistic view of end-to-end processes, covering diverse IT systems and departments, thereby enhancing optimization and identification of bottlenecks.
Real-time monitoring
Real-time monitoring is now a standard offering, delivering immediate insights into process performance. This capability enables swift responses to anomalies, thereby enhancing operational efficiency and adaptability in addressing dynamic circumstances.
User-Friendly
The industry is witnessing a focus from software developers on developing user-friendly interfaces for process mining tools. This shift aims to democratize access to these robust analytical tools, catering to business users with limited technical expertise.
Global Process Mining Software Market Trends
According to the global process mining software market report, the use of process automation tools is on the rise, as process mining software now identifies tasks ideal for automation, streamlining workflows and boosting operational efficiency.
Moreover, there's an increasing emphasis on regulatory compliance and risk management in these tools, with tailored features like compliance tracking, audit trails, and risk analysis, ensuring organizations meet industry standards.
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Market Segmentation
Global Process Mining Software Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Software
- Services
Market Breakup by Deployment Mode
- On-Premise
- Cloud
Market Breakup by Application
- Strategic Sourcing
- Contract Management
- Category Management
- Transactional Procurement
- Supplier Management
Market Breakup by Industry Vertical
- Manufacturing
- Healthcare
- Banking, Financial Services and Insurance
- Consumer Goods and Services
- Telecommunications and IT
- Logistics and Transportation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Software components drive growth in the global process mining software market by automating data collection, analysis, and visualization processes, thereby saving valuable time and effort
Software drives cost savings through automated data analysis and streamlined processes, cutting down on manual labour, errors, and inefficiencies. This results in optimized resource utilization and lower operational costs.
Services promote innovation within organizations, helping them maintain competitiveness by enhancing processes, introducing new products/services, and swiftly adapting to market dynamics.
Based on application, the global process mining software market share is led by strategic sourcing as it enables organizations to make informed decisions about supplier selection by analysing historical sourcing data.
Strategic sourcing uses process mining software to optimise supplier selection for cost reduction, enhances performance-based decisions, monitors relationships, mitigates risks, automates processes for efficiency, facilitates data-driven choices, and ensures compliance transparency.
Integration of contract management into process mining software provides advantages such as improved contract visibility, efficient lifecycle management, cost savings, compliance assurance, risk mitigation, and enhanced supplier relationships through real-time monitoring and analysis.
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Competitive Landscape
Market players are driving the global process mining software market growth by offering a strong platform that provides actionable insights to improve efficiency, lower costs, and foster innovation on a global scale.
IBM Corporation, founded in 1911, is a global technology giant with its headquarters in New York. Recognized for its groundbreaking work in cloud computing, AI, and blockchain, IBM offers an extensive array of products and services tailored to businesses worldwide.
ABBYY Solutions, established in 1989, stands out as a leading provider of intelligent document processing and text recognition solutions. Based in California, ABBYY delivers state-of-the-art software solutions designed to automate data extraction, document classification, and streamline workflows across diverse industries.
Celonis SE, founded in 2011, leads the way in process mining technology, revolutionizing how organizations optimize their operations. Headquartered in Germany, Celonis provides a robust platform that delivers actionable insights to enhance efficiency, reduce costs, and drive innovation globally.
Fluxicon BV, founded in 2009, specializes in cutting-edge process mining software solutions from its base in the Netherlands. It is a pioneer in tools like Disco, enabling businesses to visualize, analyse, and optimize their processes for increased efficiency and productivity.
Other key players in the global process mining software market are Hyland Software, Inc., Microsoft Corporation, QPR Software Plc, Soroco, UiPath Inc., and Fujitsu Limited among others.
Global Process Mining Software Market Analysis by Region
The North American market is growing with the increasing demand for advanced technologies to enhance business operations. Automation is driving the need for software that can handle large data volumes. In the U.S., sectors like BFSI, retail, and healthcare are focusing on efficiency improvements with AI, IoT, and ML.
Asia Pacific is set for steady growth due to rising competition. China, Japan, and South Korea exhibit potential for process mining automation market growth, backed by automation initiatives. Additionally, a rise in cloud-based software demand is projected to boost market expansion in the region.
According to the National Bureau of Economic Research in 2022, the substantial growth of China's insurance industry, reaching 4,695 billion CNY, significantly contributes to the expansion of the global process mining software market.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Mode |
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| Breakup by Application |
|
| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Process Mining Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Process Mining Software Historical Market (2018-2023)
8.3 Global Process Mining Software Market Forecast (2024-2032)
8.4 Global Process Mining Software Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Process Mining Software Market by Deployment Mode
8.5.1 On-Premise
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Process Mining Software Market by Application
8.6.1 Strategic Sourcing
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Contract Management
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Category Management
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Transactional Procurement
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Supplier Management
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.7 Global Process Mining Software Market by Industry Vertical
8.7.1 Manufacturing
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Healthcare
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Banking, Financial Services and Insurance
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Consumer Goods and Services
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Telecommunications and IT
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Logistics and Transportation
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Process Mining Software Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Process Mining Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Process Mining Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Process Mining Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Process Mining Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Process Mining Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 ABBYY Solutions
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Celonis SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Fluxicon BV
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Hyland Software, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Microsoft Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 QPR Software Plc
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Soroco
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 UiPath Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Fujitsu Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1 Global Process Mining Software Market: Key Industry Highlights, 2018 and 2032
2 Global Process Mining Software Historical Market: Breakup by Component (USD Million), 2018-2023
3 Global Process Mining Software Market Forecast: Breakup by Component (USD Million), 2024-2032
4 Global Process Mining Software Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
5 Global Process Mining Software Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6 Global Process Mining Software Historical Market: Breakup by Application (USD Million), 2018-2023
7 Global Process Mining Software Market Forecast: Breakup by Application (USD Million), 2024-2032
8 Global Process Mining Software Historical Market: Breakup by Industry Vertical (USD Million), 2018-2023
9 Global Process Mining Software Market Forecast: Breakup by Industry Vertical (USD Million), 2024-2032
10 Global Process Mining Software Historical Market: Breakup by Region (USD Million), 2018-2023
11 Global Process Mining Software Market Forecast: Breakup by Region (USD Million), 2024-2032
12 North America Process Mining Software Historical Market: Breakup by Country (USD Million), 2018-2023
13 North America Process Mining Software Market Forecast: Breakup by Country (USD Million), 2024-2032
14 Europe Process Mining Software Historical Market: Breakup by Country (USD Million), 2018-2023
15 Europe Process Mining Software Market Forecast: Breakup by Country (USD Million), 2024-2032
16 Asia Pacific Process Mining Software Historical Market: Breakup by Country (USD Million), 2018-2023
17 Asia Pacific Process Mining Software Market Forecast: Breakup by Country (USD Million), 2024-2032
18 Latin America Process Mining Software Historical Market: Breakup by Country (USD Million), 2018-2023
19 Latin America Process Mining Software Market Forecast: Breakup by Country (USD Million), 2024-2032
20 Middle East and Africa Process Mining Software Historical Market: Breakup by Country (USD Million), 2018-2023
21 Middle East and Africa Process Mining Software Market Forecast: Breakup by Country (USD Million), 2024-2032
22 Global Process Mining Software Market Structure
Key Questions Answered in the Report
The market was valued at USD 1,200.11 million in 2023.
The market is projected to grow at a CAGR of 40.2% between 2024 and 2032.
The revenue generated from the process mining software market is expected to reach USD 25,116.20 million in 2032.
Analytical integration, process mapping, real-time monitoring, and user-friendly interfaces are driving the growth of the process mining software market.
The process mining software market is categorised according to its component, which includes services and software.
The key players in the industry are IBM Corporation, ABBYY Solutions, Celonis SE, Fluxicon BV, Hyland Software, Inc., Microsoft Corporation, QPR Software Plc, Soroco, UiPath Inc., and Fujitsu Limited among others.
Based on the application, the process mining software market is divided into strategic sourcing, contract management, category management, transactional procurement, and supplier management.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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