The BPM market has a long history. Before the term BPM has been accepted as set of standard process management methodologies and technologies, it underwent several definitions and conceptual meanings. In the past, BPM could mean many things. Management professional can define BPM in terms of process models while other can conceptualize it in terms of reengineering business processes. BPM as a management methodology is a very recent addition to the management body ok knowledge.
The standardization of BPM also entails the development of different tools and applications as well as different techniques in the practice of process management. A BPM market also emerged and this market encompasses applications and software vendors that engineers BPM tools and programs, training centers and knowledge based providers, BPM consultancies, and BPM documents providers. The BPM market is probably the most robust sector in the management industry because of the increasing demand for BPM necessities.
The BPM market can be categorized in two general segments. The first segment may include software developers, BPM tools vendors, BPM IT support sector, and BPM technicians. This segment provides the necessary engines and technical services needed to implement a BPM infrastructure. The other segment is composed of BPM knowledge and skills providers and may include training and certification centers, consulting firms, institutes, publishers, BPM journals, and similar entities that can enrich the knowledge and skills of management practitioners in the practice of BPM. The BPM knowledge sector is an important adjunct of the BPM market because they can provide the know-how in running the different BPM engines.