Process Mining Software Market Size Worth $7.95 Billion By 2028: Grand View Research, Inc.

Process Mining Software Market Size Worth $7.95 Billion By 2028: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Nov. 8, 2021

SAN FRANCISCO, Nov. 8, 2021 /PRNewswire/ -- The global process mining software market size is estimated to reach over USD 7.95 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 50.1% from 2021 to 2028. The increasing awareness about the need to understand and analyze business processes driven by digital transformation is one of the key factors driving market growth. Additionally, the constant increase in data volumes across industries is driving the demand for process mining software and services.

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Key Insights & Findings:

Read 100 page market research report, "Process Mining Software Market Size, Share & Trends Analysis Report By Component (Software, Services), By Deployment, By Application, By Industry Vertical, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Restrictions imposed on global imports and exports amid the COVID-19 pandemic hampered the operations of industries such as transportation, logistics, and manufacturing. The resultant shortage of resources encouraged businesses to seek new opportunities for cloud-based solutions and adopt automation technologies.

Process mining software combines Business Intelligence (BI), analytics, automation, critical change agents, and Artificial Intelligence (AI) functions to help enterprises bridge the gap in siloed data scattered across various business processes. Process mining also assists organizations in discovering and fixing the inadequacies impeding the performance of business processes.

The market has also benefitted from the high volumes of data and the growing need to generate insights from data distributed across enterprises. Businesses are in desperate need of tools that can enable efficient data processing and data mapping. This, in turn, is boosting the demand for process mining software solutions that offer features such as automated process mapping and fact-based insights.

Grand View Research has segmented the global process mining software market based on component, deployment, application, industry vertical, and region:

List of Key Players in the Process Mining Software Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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