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Workflow Automation Market Size, Trends, Share, Research Report Study, Regional and Industry Analysis, Forecast to 2030

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Workflow Automation Market Size, Trends, Share, Research Report Study, Regional and Industry Analysis, Forecast to 2030

July 07
22:38 2022
 Workflow Automation Market Size, Trends, Share, Research Report Study, Regional and Industry Analysis, Forecast to 2030
Emergen Research | Workflow Automation Market
Ease in business processes with installation of workflow automation tools is a significant factor driving global workflow automation market revenue growth

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. Ease in business processes with installation of workflow automation tools is a major factor driving emergen workflow automation market revenue growth. Workflow automation simplifies business operations, saves time, and allows staff to concentrate on more creative aspects of their work, while the software handles more mundane but important tasks. Workflow automation not only speeds up tasks, but it also minimizes number of errors made. When work is mechanized, it eliminates possibility of human error. Another advantage of workflow automation is that one can scale their business more quickly if they save time and have fewer mistakes. Workflow automation can help a small business to compete more effectively, especially when competing against larger corporations. Workflow automation enables organizations to work more efficiently, close leads more quickly, and free up time spent on administrative tasks so they can better serve their customers.

The report on the Global Workflow Automation Market initially offers an in-depth overview of the Workflow Automation Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.

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Some Key Highlights From the Report

  • On 16 June 2022, AirSlate, which provides no-code tools for automating corporate processes, announced that it has raised USD 51.5 million in a funding round valued at over USD 1 billion, demonstrating that workflow automation is a thriving industry. AirSlate is the first portfolio firm for UiPath’s newly created, previously unannounced UiPath Ventures arm, which was directed by G Squared with involvement from UiPath.
  • The automated solution segment is expected to account for largest revenue share over the forecast period attributed to growth of the BFSI industry that have been using automated solutions. With different front-end and back-end processes, the banking and financial services industry offers a diverse range of services. To ensure a uniform user experience, several banking functions, such as account opening, accounts payable, closure, credit card processing, and loan processing, can be automated. One of the major users of technology and services is the banking industry and global IT investments in banking and financial services business is expected to reach USD 742 billion by 2024. According to a Gartner estimate. Advanced solutions, such as Marketing Automation (MAS), Customer Relationship Management (CRM), and Enterprise Resource Planning (ERP), aid in increasing industry workflow.
  • The large enterprises segment is expected to account for large revenue share in the global market over the forecast period owing to increasing adoption of workflow automation. A few of the 2.000 labor functions (across 800 professions) that can be automated include processing sales transactions, displaying product attributes, and responding to product enquiries. Up to 30% of workers time might be saved by automating 60% of business processes such as evaluating and approving paperwork, creating sales leads, and processing large documents. By presenting content that is exceptionally relevant, significant, or extraordinary, automation can assist professionals focus on situations that require their knowledge and intellect. Over 20% of CEOs time is spent on work that could be automated. All of these tasks, such as reviewing status reports, creating staff assignments, and analyzing operational data, can be automated.
  • The BFSI segment is expected to account for large revenue share in the global market over the forecast period owing to increased adoption of robotic process automation. 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.

The report highlights the current impact of COVID-19 on the Workflow Automation market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Workflow Automation according to the impact of COVID-19.

Major Players/Manufacturers profiled in the report are:

IBM Corporation, Oracle, Pegasystems Inc., Software AG, Xerox Corporation, Appian, Bizagi, Amelia US LLC., Newgen Software Technologies Limited, and Nintex UK Ltd.

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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

Regional Analysis of the Workflow Automation Market Includes:

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)

The report offers a complete understanding of the Workflow Automation market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.

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The report offers insightful information about the market dynamics of the Workflow Automation market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Workflow Automation market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Workflow Automation market.

Key Coverage of the Workflow Automation Market:

  • Insightful information regarding the global Workflow Automation market
  • Identification of growth in various segments and sub-segments of the Workflow Automation market
  • Strategic recommendations for investment opportunities
  • The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
  • Emerging trends and current market segment analysis to help investors formulate new business strategies
  • Accelerates the decision-making process through the availability of the drivers and limitations

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Thank you for reading our report. To request a customization or for further inquiries, kindly get in touch with us. Our team will ensure the report is tailored meet to your needs.  

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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