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Ease in business processes with installation of workflow automation tools is a significant factor driving global workflow automation market revenue growth
— Emergen Research
VANCOUER, BC, CANADA, September 14, 2022 /EINPresswire.com/ — The global workflow automation market size is expected to reach USD 80.9 Billion at a steady revenue CAGR of 23.5% in 2030, according to latest analysis by Emergen Research. The ease of corporate operations following the installation of workflow automation solutions is a key driver fueling the revenue growth of the emerging workflow automation market. Workflow automation streamlines corporate processes, saves time, and frees up people to focus on more imaginative areas of their work while the software takes care of less critical but nonetheless necessary chores. Automation of the workflow not only expedites processes but also reduces the likelihood of errors.
The risk of human error is eliminated when activity is mechanised. Another benefit of workflow automation is that if one saves time and makes fewer mistakes, they can scale their firm more quickly. Workflow automation can make a small business more competitive, particularly when going up against bigger companies.
The workflow automation market research methodology starts with gathering information on important vendor revenue from secondary sources such the Institute for Robotic Process Automation (IRPA), press releases, investor relations presentations, and annual reports. The vendor offerings are also taken into account while dividing the market into segments. The global market’s overall size has been calculated using the bottom-up method based on key companies’ revenue. The market has been divided into a number of segments and subsegments after the overall market size has been determined. These segments and subsegments have been confirmed through primary research by conducting in-depth interviews with people in high-level positions like CEOs, VPs, directors, and executives.
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The reports cover key developments in the Workflow Automation Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Workflow Automation Market are anticipated to lucrative growth opportunities in the future with the rising demand for Workflow Automation Market in the global market. The market is expected to grow at a significant CAGR during the forecast period.
Key players in the market include :
IBM Corporation, Oracle, Pegasystems Inc., Software AG, Xerox Corporation, Appian, Bizagi, Amelia US LLC., Newgen Software Technologies Limited, and Nintex UK Ltd.
World’s Leading Companies in Workflow Automation Market Industry
The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Workflow Automation Market . The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline.
You need to discover how this will impact the Workflow Automation Market today, and over the next 10 years:
Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.
The report highlights key lucrative areas in the industry so you can target them – Now.
It contains in-depth analysis of global, regional and national sales and growth.
It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you Today how the Workflow Automation Market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Some Key Highlights from the Report :
The automated solution segment is expected to account for largest revenue share over the forecast period
Due to the expansion of the banking, financial services, and insurance industries, which have been utilising automated solutions since 2010, the automated solution market for workflow automation held the biggest market share. The automated system has seen extensive application in commercial settings with a larger need for data processing and workflow management due to its high degree of flexibility and scalability. A key factor in the market’s expansion is the availability of automated solutions suitable for widespread use in data management systems.
The BFSI segment is expected to account for large revenue share in the global market over the forecast period :
Banks can use robotic process automation to minimize human labor, improve compliance, reduce risk, and improve the overall customer experience. Furthermore, low-code solution is suitable for banks and financial institutions as no additional infrastructure is required. It also helps to speed up crucial activities, resulting in immediate increase in accuracy and productivity, as well as cost and time-to-market reductions for various offers.
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Emergen Research has segmented the global workflow automation market based on process, organization size, industry, and region:
Process Outlook (Revenue, USD Million; 2019–2030)
Automated Solution
Decision Support and Management Solution
Interaction Solution
Organization Size Outlook (Revenue, USD Million; 2019–2030)
Large Enterprises
SMEs
Industry Outlook (Revenue, USD Million; 2019–2030)
Banking, Financial Services, & Insurance
Telecom & IT Industry
Travel, Hospitality, & Transportation Industry
Retail & Consumer Goods
Manufacturing & Logistics Industry
Healthcare & Pharmaceuticals
Energy & Utilities
Other Industries
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Workflow Automation Market Regional Segmentation;
North America(U.S., Canada)
Europe(U.K., Italy, Germany, France, Rest of EU)
Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America(Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a ‘Circular Economy,’ fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality.
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