DUBLIN--(BUSINESS WIRE)--The "Process Analytics Market by Process Mining Type (Process Discovery, Process Conformance & Process Enhancement), Deployment Type, Organization Size, Application (Business Process, It Process, & Customer Interaction) & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global process analytics market size is expected to grow from USD 185.3 million in 2018 to USD 1,421.7 million by 2023, at a Compound Annual Growth Rate (CAGR) of 50.3% during the forecast period.
The implementation of digital transformation that is driving users' awareness for analyzing and understanding business processes, and the advent of the algorithmic business are the major driving factors for the process analytics market. Collaborations between process analytics and Enterprise Resource Planning (ERP) vendors, and the rise in the implementation of the task level automation are also driving the process analytics market growth. However, the competition from open-source alternatives could be a major restraining factor for the market growth.
In the process conformance subsegment, the data mining software is used for process conformance checks, wherein the event logs are checked against ideal processes. The process mining software converts the event logs into a process model and checks them against ideal and pre-defined processes. Hence, deviations between the derived business process model and ideal processes can be diagnosed, and non-conformance can be highlighted and visualized.
The on-premises deployment type refers to the installation of the software in premises of an organization. The software is delivered on a one-time license fee, along with an annual services agreement, which includes free upgradation and installation of new functionalities. The deployment of on-premises process analytics software requires dedicated infrastructure and servers. Organizations that can afford managing dedicated servers, usually deploy the on-premises software.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Process Analytics Market, By Process Mining Type
7 Market By Deployment Type
8 Process Analytics Market, By Organization Size
9 Market By Application
10 Process Analytics Market, By Region
11 Competitive Landscape
12 Company Profiles
- Icaro Tech
- Lana Labs
- Monkey Mining
- Puzzle Data
- QPR Software
- Cognitive Technology
- Your Data
- Process Mining Group
- Software AG
- CA Technologies
- Process Analytics Factory (PAF)
For more information about this report visit https://www.researchandmarkets.com/research/qfxh3f/global_process?w=4