Process Mining Market Analysis

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.

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.

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.