Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Workflow Automation Market Size is Expected to Grow from USD 12.15 Billion in 2023 to USD 97.05 Billion by 2033, at a CAGR of 23.10% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Workflow Automation Market Size, Share, and COVID-19 Impact Analysis, By Deployment (On-Premise and Cloud), By Solution (Software and Service), By End-User (Banking, Telecom, Retail, Manufacturing & Logistics, Energy & Utilities, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Workflow automation refers to the approach to make the flow of tasks, documents and information across work-related activities perform independently by defined business rules. It enables an organization to streamline its business processes and increase workplace efficiency and productivity. Workflow automation is advantageous for industries in all sectors. Additionally, they can apply this technology in a variety of departments and specialized fields, such as helping the IT department's DevOps procedures. The advent of newer technologies including artificial intelligence and others like computer vision, cognitive automation, and machine learning that are used in robotic process automation are offering lucrative market growth opportunities for workflow automation. The increasing demand for real-time automation solutions, the adoption of business process automation, and the need for improved communication and collaborations within organizations are propelling the market growth. Further, the implementation of IoT services across organizations is contributing to propel the market growth for workflow automation. On the contrary, the data theft and leakage associated with process automation owing to the lack of appropriate security protocols can hamper the market.
The cloud segment dominates the market with the largest revenue share during the forecast period.
Based on the deployment, the global workflow automation market is divided into on-premise and cloud. Among these, the cloud segment dominates the market with the largest revenue share during the forecast period. Cloud-based workflow solutions are being implemented for several reasons, such as their ease of use, reduced infrastructure costs, and easier installation and upkeep. Such an adoption strategy provides companies benefits while also assisting SMEs in saving costs.
The service segment is expected to hold the largest market share during the forecast period.
Based on the solution, the global workflow automation market is divided into software and service. Among these, the service segment is expected to hold the largest market share during the forecast period. The increasing need for maintenance & training services and increasing intricacies and customization in workflow automation projects are driving the market in the service segment.
The telecom segment is projected to hold the largest market share through the forecast period.
Based on the end-user, the global workflow automation market is divided into banking, telecom, retail, manufacturing & logistics, energy & utilities, and others. Among these, the telecom segment is projected to hold the largest market share through the forecast period. The telecom services industry is expanding as a result of the expanding use of edge computing, 5G, and the Internet of Things (IoT), thereby driving the market demand in the telecom segment.
North America is projected to hold the largest share of the global workflow automation market over the forecast period.
North America is projected to hold the largest share of the global workflow automation market over the forecast period. A significant amount of IoT boom is anticipated to be ascribed to the proliferation of cellular technologies such as NB-IoT and Cat-M1, as well as the reduction in chipset costs, which boost the frequent use of process automation. Further, the increasing technological advancements and focus on productivity are augmenting market growth.
Asia Pacific is predicted to grow at the fastest CAGR in the workflow automation market over the forecast period. In countries like China, the improved workflow through digital transformation is contributing to driving the regional market for workflow automation. The growing focus on industry 4.0 initiatives and widespread adoption of robotic process automation and other advanced technologies including cloud computing and IoT are significantly propelling the market growth.
Competitive Analysis
Major key players in the workflow automation market include IBM Corporation, Oracle Corporation, Xerox Corporation, Pegasystems Inc., Appian Corporation, Bizagi, Software AG, IPsoft Inc., Newgen Software Technologies Limited, Nintex Global Limited, and Others.
Key Target Audience
Recent Developments
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global workflow automation market based on the below-mentioned segments:
Global Workflow Automation Market, By Deployment
Global Workflow Automation Market, By Solution
Global Workflow Automation Market, By End-User
Global Workflow Automation Market, Regional Analysis
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