Home > Media & Technology > Next Generation Technologies > Process Mining Market

Process Mining Market - By Component (Solution, Service), By Type (Discovery, Conformance, Enhancement), By Deployment Model (On-premises, Cloud), By End-user (Manufacturing, IT &Telecom, BFSI, Retail & E-commerce), Forecast 2023 - 2032

  • Report ID: GMI7386
  • Published Date: Nov 2023
  • Report Format: PDF

Process Mining Market Size

Process Mining Market was valued at USD 1.03 billion in 2022 and is estimated to register a CAGR of over 40% between 2023 and 2032. Significant capital injections are propelling the market, driving innovation and expansion in the industry. Investments from various sources including venture capital firms and established technology companies have provided the necessary resources for process mining software providers to enhance their product offerings.
 

Process Mining Market

To get key market trends   Download Free Sample

For instance, in December 2022, Apromore, a provider of process mining software, closed its Series B funding round, securing USD 10.3 million in investments from Salesforce and GBTEC, a company supported by Main Capital Partners. This financial boost enables Apromore to enhance its product features and connectivity offerings, aligning with the increasing market demand for top-notch process mining solutions.
 

Operational efficiency is a key driver propelling the process mining market. Businesses today face the challenge of optimizing complex processes to enhance productivity. Process mining offers a solution by providing in-depth insights into these processes. By analyzing digital footprints and event logs, organizations can identify bottlenecks & inefficiencies. Armed with this information, they can streamline workflows, automate repetitive tasks, and improve resource utilization. This efficiency boost reduces operational costs and enhances overall productivity, making it a vital factor fueling the adoption of process mining solutions across industries.
 

Data privacy and security pose significant challenges to the process mining market. To analyze sensitive data for process optimization, compliance with stringent privacy regulations such as GDPR is a must. This compliance demands meticulous handling of personal and confidential information. Ensuring secure data storage, transmission, and access control while extracting valuable insights is paramount. Striking a balance between leveraging data for process improvement and safeguarding individual privacy rights is a complex task, requiring robust encryption methods and stringent compliance measures to mitigate risks & foster market growth.
 

COVID-19 Impact

The COVID-19 pandemic accelerated the adoption of process mining solutions. Businesses, facing disruptions and remote work challenges, turned to process mining to optimize remote workflows, enhance operational efficiency, and reduce costs. The need for real-time insights into rapidly changing processes became crucial. Industries including healthcare and supply chain management particularly benefited from process mining, ensuring streamlined operations amidst uncertainties. This increased demand and reliance on data-driven decision-making have positively impacted the market share.
 

Process Mining Market Trends

The integration of AI systems into process mining solutions is driving growth in the market. AI enhances process mining by automating complex data analysis, uncovering intricate patterns, and predicting process behavior. For instance, in May 2023, Pegasystems Inc., a leading low-code platform provider, unveiled Pega Process Mining. This new offering simplifies the process of identifying and addressing operational inefficiencies for users of all expertise levels within the Pega ecosystem. Coupled with generative AI-ready APIs, the solution can seamlessly integrate into the Pega Platform. This integration provides organizations with a cohesive solution, enabling continuous optimization of their Pega workflows. This value proposition fuels market expansion and attracts businesses aiming for enhanced productivity & competitiveness.
 

Compliance and risk management are pivotal aspects propelling the market. Process mining tools help organizations ensure adherence to regulatory standards and internal protocols. By analyzing digital footprints, these tools provide transparency, allowing businesses to identify non-compliance risks, fraud, or deviations from established procedures. Detecting these issues in real time enables proactive measures, ensuring legal compliance, mitigating financial risks & safeguarding the organization's reputation. This capability to enhance governance and risk management practices makes process mining essential for businesses operating in regulated environments.
 

Process Mining Market Analysis

 Process Mining Market Size, By Component, 2021 – 2032, (USD Million)
Learn more about the key segments shaping this market   Download Free Sample

Based on component, the market is divided into solution and service. The solution segment held over 65% of the business share in 2022. Solutions with enhanced features are driving momentum in the market. By continuously improving functionalities, such as advanced data analysis, real-time monitoring, and intuitive visualization tools, providers are meeting the evolving business needs. For instance, in May 2023, Celonis, a leading provider of process mining solutions, unveiled a range of robust product features designed to help companies swiftly discover and capitalize on the business value within their processes. These enhancements highlight Celonis' commitment to continuously improving its core platform, showcasing the company's ongoing efforts to redefine the field of process mining.
 

 Process Mining Market Share, By Deployment Model, 2022
Learn more about the key segments shaping this market   Download Free Sample

Based on deployment model, the process mining market is categorized into on-premises and cloud. The cloud segment held around 40% market share in 2022 and is projected to grow by 2032. Scalability is a driving force behind the adoption of cloud-based process mining solutions. Businesses, particularly those experiencing rapid growth or fluctuating data volumes, benefit from the cloud's ability to scale resources on demand. Whether analyzing a small dataset or handling vast amounts of process data, cloud platforms provide the necessary computational power and storage space. This scalability ensures that organizations can efficiently manage their process mining needs without worrying about hardware limitations, making cloud deployment an ideal choice for businesses with varying processing requirements.
 

U.S. Process Mining Market Size, 2021 -2032, (USD Million)
Looking for region specific data?   Download Free Sample

North America dominated the global process mining market with a major share of over 35% in 2022. Enterprise digital transformation initiatives in North America are driving the adoption of process mining solutions. As businesses undergo digital transformation, they aim to modernize their processes, making them agile, efficient & technology-driven. Process mining plays a pivotal role by offering insights into the existing workflows, identifying bottlenecks, and enabling seamless automation. By leveraging process mining technologies, North American enterprises can streamline their operations, enhance productivity, and deliver superior digital experiences to customers, aligning with the overarching goals of their digital transformation strategies.
 

Process Mining Market Share

Major players operating in the process mining industry are:

  • ABBYY
  • Celonis
  • IBM Corporation
  • Microsoft Corporation
  • SAP Signavio
  • Software AG
  • UiPath
  • Mehrwerk
  • Apromore
  • Kofax

Celonis and SAP Signavio dominate the market. Leading players in the market compete for market share by investing in advanced technologies and strategic collaborations. They focus on enhancing user experience, expanding global presence, and offering diverse solutions, thus fostering intense competition & innovation in the industry.
 

Process Mining Industry News

  • In May 2023, Mindzie launched an innovative business process mining platform fueled by generative AI. This cutting-edge technology transforms how organizations analyze, optimize & automate their business processes, enhancing efficiency, productivity, and cost-effectiveness significantly
     

The process mining market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report


By Component, 2018 – 2032

  • Solution
  • Service

By Type, 2018 – 2032

  • Discovery
  • Conformance
  • Enhancement

By Deployment Model, 2018 – 2032

  • On-premises
  • Cloud

By End User, 2018 – 2032

  • Manufacturing
  • IT &Telecom
  • BFSI
  • Retail & E-commerce
  • Healthcare
  • Transportation & Logistics
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Nordics
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Southeast Asia
    • ANZ 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The process mining industry was valued at USD 1,034.8 million in 2022 and is estimated to register over 40% CAGR between 2023 and 2032, owing to investments from various sources including venture capital firms and established technology companies.
The cloud segment held around 40% market share in 2022 and is projected to grow by 2032 owing to scalability of cloud process mining solutions.
North America process mining market share was over 35% in 2022 and is expected to grow through 2032 owing to the enterprise digital transformation initiatives across the region.
ABBYY, Celonis, IBM Corporation, Microsoft Corporation, SAP Signavio, Software AG, UiPath, Mehrwerk, Apromore, and Kofax.

Process Mining Market Scope

Buy Now


Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 334
  • Countries covered: 17
  • Pages: 200
 Download Free Sample
 Download Free Sample