Task Management & Business Process Management Software Market Research Report By Component(Software{Task Management software and Business Process Management (BPM)} ,Services{Integration & Implementation, Consulting ,Training& Support), By Organization Size(Small & Medium-Sized Enterprises (SMES),Large Enterprises), By Deployment (On-Premises ,Cloud),By Industry Verticals (Banking, Financial Services, & Insurance (BFSI), Retail & Consumer Goods, Healthcare, IT & Telecom, Government, Real Estate & Construction, Travel& Hospitality, Media & En

Task Management & Business Process Management Software Market Overview

Task Management & Business Process Management Software Market Size was valued at USD 17,115.72million in 2023. The Task Management & Business Process Management Software Market industry is projected to grow from USD 19,942.01 Million in 2024 to USD 67,487.75million by 2032, exhibiting a compound annual growth rate (CAGR) of 16.5 % during the forecast period (2024 - 2032). Task Management Software and Business Process Management Market is a process of effectively overseeing the entire lifecycle of tasks, from planning to execution. Implementation of task management streamlines workflows organizes tasks efficiently and helps the project manager make informed decisions. Task management also involves monitoring every aspect of a task, like its budget, completion time, scope, resources, recurrence, and more. BPM and Task Management software can be uses in various methods to improve a business process by analyzing it, modeling it works in different scenarios, implementing changes, monitoring the new process, and continuously improving its ability to drive desired business outcomes and results.

As per Analyst at MRFR, “The Task Management & Business Process Management Software industry has seen several growth factors in recent years, fueled by growing need among enterprises to centrally manage and track tasks and increasing integration of task management software and business process management (bpm) with third-party tools, these dynamics have expanded the potential customer segment for Task Management & Business Process Management Software market.

FIGURE 1: TASK MANAGEMENT & BUSINESS PROCESS MANAGEMENT SOFTWARE MARKET SIZE 2019-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

TECHNOLOGICAL ADVANCEMENT IN AREAS OF AI AND ML

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  Task Management & Business Process Management Software Market Opportunity

  
  

Several companies are integrating Artificial Intelligence (AI), and Machine Learning (ML) technologies with business process management software to reduce manual errors and improve IT systems innovation, global competition, and new technologies are the key driving factors behind the expansion and growth of the industry. BPM has provided businesses with the means to increase profits and cut costs effectively. With the increased influence of these technologies, BPM can boost the efficiency of its services even further.

Technologies such as robotic process automation (RPA) that have emerged over the past few years have influenced the BPM industry. RPA, with its cost savings abilities, speed, and efficiency, is slowly making its way into all sectors and all types of business processes. Robotic process automation has also emerged as the fastest growing trend in BPM, mainly in the management sector, enabling high-value creation with rapid time- to-value and notable cost savings.

Task Management & Business Process Management Software Market Segment Insights

Task Management & Business Process Management Software By Component Insights

By Component segment of Task Management Software and Business Process Management market has been segmented into the Software and services. Software segment accounted for the largest market share in 2023. This segment is further divided into Task Management software and Business Process Management (BPM). Task Management software is technology used to organize business’s workflow. The digital system is used to track, schedule, and map out organization projects and assignments. Task Management software allows to share a virtual space for work on the organization, as well as follow up and manage ongoing projects. BPM software is the technology product that supports business process management (BPM), to improve business processes from end to end.

Task Management & Business Process Management Software By Organization Size Insights

By Organization size segment of the Task Management Software and Business Process Management market has been segmented into Small & Medium-Sized Enterprises (SMES) and Large Enterprises. Large Enterprises accounted for the highest market share.  Large enterprises typically have many departments with larger teams of employees and often have more complex business processes. As such, task management software and Business process management for these companies needs to be more robust and comprehensive than software used by smaller businesses. The software needs to be able to coordinate between different departments and provide organizations with features such as project analytics, task notifications, workflow automation, customer relationship management, and document management and therefore this segment holds the highest market share.

Task Management & Business Process Management Software By Deployment Insights

By deployment segment of the Task Management Software and Business Process Management market has been segmented into On-Premises and Cloud. On premises held a slightly higher share than Cloud in 2023. On-premises deployment of task management software enables organizations to manage and complete control over their integrations. Besides, on-premises implementation of task management software offers accessibility, remote location access, and various business benefits such as scalability, functionality, and enhanced security. On-premise software improves security providing full control over data, as well as ability to work without internet access. In addition, on-premises offers flexibility of customizing software or service, i.e., adding or customizing code to meet customer’s requirements. Moreover, on-premise deployment has no limitation on number of users, clients, and tasks. Furthermore, increasing adoption of on-premise deployment in highly regulated industries, such as healthcare.

FIGURE 2: TASK MANAGEMENT & BUSINESS PROCESS MANAGEMENT SOFTWARE  MARKET, BY DEPLOYMENT , 2023 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Task Management & Business Process Management Software By Industry Verticals Insights

By Industry Vertical segment of the Task Management Software and Business Process Management market has been segmented into Banking, Financial Services, & Insurance (BFSI), Retail & Consumer Goods, Healthcare, IT & Telecom, Government, Real Estate & Construction, Travel& Hospitality, Media & Entertainment and Others. , IT & Telecom held the largest market share in 2023. BPM helps to manage and optimize end-to-end business processes of IT & Telecom industry. translates into the seamless execution of repetitive tasks and workflows. In order of processing, billing, or network provisioning, automation reduces manual intervention, minimizes errors, and accelerates the pace of operations. Telecom companies are placing an increased emphasis on customer-centric processes. BPM enables the design and implementation of streamlined customer journeys, from onboarding to issue resolution. By leveraging data and analytics, companies can personalize interactions, anticipate customer needs, and deliver exceptional experiences.

Task Management & Business Process Management Software Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. North America accounted for 47.1 % of Task Management & Business Process Management Software Market in 2023. The rapid growth rate of the market is attributed owing to the presence of many multinational companies and skilled workforce in various industries. Moreover, the ability of task management software to customize work processes and prioritize tasks to save time and finish within deadline is also expected to boost market growth. Furthermore, companies in the U.S. and Canada are adopting task management software to improve productivity through team collaboration, which is expected to drive market revenue growth.

Rapid growth rate of the market is attributed to increasing need to reduce operational costs and work remotely from any device. Technological advancements in AI and Machine Learning (ML) in most industries in countries, such as Germany, France, and the UK, among others, offer lucrative opportunities for task management software providers. In addition, increasing adoption of new technologies for better workforce utilization at lower costs to enhance work efficiency and improve productivity is also expected to drive market revenue growth in countries in the region during the forecast period.

The Asia Pacific market is expected to register a fast revenue growth rate during the forecast period owing to robust presence of industries, such as BFSI and IT, among others, in countries in the region.

FIGURE 3: TASK MANAGEMENT & BUSINESS PROCESS MANAGEMENT SOFTWARE MARKET SIZE BY REGION 2023 VS 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, UK, France, China, Japan, and India.

Task Management & Business Process Management Software  Market Key  Players & Competitive Insights

The Task Management & Business Process Management Software Market is characterized by the presence of many global, regional, and local vendors. The Task Management & Business Process Management Software  market has witnessed significant growth over the forecast period due to growing Need Among Enterprises to Centrally Manage and Track Tasks .There are several domestic, regional, and global players operating in the Task Management & Business Process Management Software  market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Task Management & Business Process Management Software  market who have contributed to the market growth. During the study, MRFR has analyzed some of the major players in the Task Management & Business Process Management Software  Market who have contributed to the market growth includes Microsoft Corporation, Upland Software, Inc, Atlassian Corporation, Inc, Ringcentral, Inc., Asana, Inc., Quickbase, Inc., Redbooth, Inc., Workfront, Inc, Pipefy Inc, Slack Technologies, LLC, Monday.com, Pivotal Software, Inc., CMW Lab, Appian Corporation, Nintex USA Inc., Blue Prism Limited, Oracle Corporation, ProcessMaker Inc., IBM Corporation, Pega Systems, Bizagi, Trisotech, AgilePoint.

These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.

Key Companies in the Task Management & Business Process Management Software  Market include.

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  Microsoft Corporation

  
  


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  Upland Software, Inc

  
  


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  Atlassian Corporation, Inc,

  
  


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  RingCentral, Inc.,

  
  


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  Asana, Inc.,

  
  


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  QuickBase, Inc.,

  
  


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  Redbooth, Inc.,

  
  


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  Workfront, Inc,

  
  


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  Pipefy Inc,

  
  


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  Slack Technologies,

  
  


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  LLC, com,

  
  


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  Pivotal Software, Inc.,

  
  


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  CMW Lab

  
  


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  Appian Corporation

  
  


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  Nintex USA Inc.

  
  


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  Blue Prism Limited

  
  


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  Oracle Corporation

  
  


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  ProcessMaker Inc.

  
  


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  IBM Corporation

  
  


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  Pega Systems

  
  


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  Bizagi

  
  


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  Trisotech

  
  

Task Management & Business Process Management Software  Industry Developments

• In October 2022, Upland Software, Inc. Acquired Objectif Lune Inc., an enterprise software provider in document composition and business communication automation. With the addition of Objectif Lune, Upland has expanded its global document workflow product library by adding the capability to modernize complex, paper-based documents for large-volume print production as well as automated delivery across web, email, and mobile platforms.


• In August 2023, RingCentral acquired Hopin's Events platform and Session product, expanding its video solutions and offering customers more choices for interactive virtual and hybrid events.

Task Management & Business Process Management Software Market Segmentation

 Task Management & Business Process Management Software Component Outlook

• Software
  
  
  
  • Task Management Software
  
  
  • Business Process Management (BPM)
  
  
  
  


• Services
  
  
  
  • Integration & Implementation
  
  
  • Consulting
  
  
  • Training& Support
  
  
  
  

Task Management & Business Process Management Software Organization Size Outlook

• Small & Medium-Sized Enterprises (SMES)


• Large Enterprises

Task Management & Business Process Management Software Deployment Outlook

• On-premises


• Cloud

Task Management & Business Process Management Software Industry Verticals Outlook

• Banking, Financial Services, & Insurance (BFSI)


• Retail & Consumer Goods


• Healthcare


• IT & Telecom


• Government


• Real Estate & Construction


• Travel& Hospitality


• Media & Entertainment


• Others

Task Management & Business Process Management Software  Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • South America