Workflow Automation Market Worth $42.3 Billion By 2027 At A ...| MENAFN.COM

Friday, 30 September 2022 09:42 GMT

Workflow Automation Market Worth $42.3 Billion By 2027 At A Growth Rate Of 5.6% - Industryarc


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Businesses Have Increased The Adoption Of Robotic Process Automation Software And It is Expected to Propel The Workflow Automation Market.

HYDERABAD, TELANGANA, INDIA, September 22, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts that The Workflow Automation Market is forecast to reach $42.3 billion by 2026, growing at a CAGR of 5.6% from 2021 to 2026. The Workflow Automation Market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for adoption of business process automation, improving productivity, efficiency, and customer experience. The workflow automation software is estimated to hold largest share in the market as it provides structured data format which helps to manage the processes of the business. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways :

1. The Workflow Automation Market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for adoption of business process automation.

2. Owing to increase in uses of workflow automation for data entry, registrations, gathering information from various systems and more in banking sector it is anticipated to hold the largest market share. Retail industry.

3. Software market in workflow automation held the largest market share owing to the demand for software in structured data formats and implementation of artificail intelligence.

4. APAC is expected to have fastest growth in the market owing to increase in adoption of business automation processes by different business verticals. North America is considered to hold largest share in the market.

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Segmental Analysis :

1. The market is segmented by solution into software and services. The software market held the largest market share of 66.2% in 2020 owing to increase in demand for automated software in structured data format in various organizations.

2. The retail industry is expected to have significant growth in the market at 7.3% through 2026. The workflow automation enhances the customer's experience by capturing and analyzing, identifying patterns, predicting and offering on-demand services, these factors result into the growth of workflow automation in retail industry.

3. Global workflow automation market is dominated by North America and APAC is expected to have fastest growth in the market during forecast period at 7.2% CAGR. The countries such as US, Canada are increasing the adoption of workflow automation in different vertical such as banking, telecom, retail and others to manage business processes.

Competitive Landscape :

The top 5 players in the Workflow Automation Industry are -

1. Oracle Corporation

2. Appian Corporation

3. Software AG

4. IBM Corporation

5. Nintex Global Limited

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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports :

A. Workflow Management System Market


B. Cloud Workflow Market

Venkat Reddy
IndustryARC
+1 614-588-8538

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