Business Process Automation Market Size To Hit USD 38.48 Billion By 2032 With A Growing CAGR Of 12.10% | Research By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) Technological advancements and increasing demand for operational efficiency are driving the growth of the Business Process Automation (BPA) market, it enables organizations to automate repetitive tasks, streamline operations, and enhanced productivity and cost savings.

Pune, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Business Process Automation Market Size Analysis:

“The SNS Insider report indicates that the, Business Process Automation Market size was valued at USD 13.8 Billion in 2023. It is projected to reach USD 38.48 Billion by 2032 and grow at a CAGR of 12.10% over the forecast period of 2024-2032.”

Market Analysis

Business Process Automation (BPA) market growing with the focuses, transformative impact on operational efficiency and resource optimization. The BPA solutions can help automate routine tasks and free up organizations for more important work related to core business functions or the completion of strategic initiatives. The new paradigm not only results in a better productivity, but also ensures optimal utilization of resources. With the surge in demand for BPA across industries, organizations can depend on this approach to unify different systems and work processes that will eventually cut down operational expenses. BPA solutions allow the smooth integration of different systems, reduce manual interference and improve data consistency. The automation of repetitive tasks eliminates manual quality assurance and execution making it a cost-effective, time-saving solution. Smartsheet researched automation and discovered 69% of the employees agree that it saves time More than half (59%) believe they can save over six hours a week if automated for recurring tasks. BPA solutions help address this need for automation of routine tasks which in turn can free up employees to focus on strategic and high-value activities. Nowhere is this shift more important than in worldwide companies which, automation or robotic process automation (RPA), can streamline procedures across diverse regions and improve overall efficiency.

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Major Players Analysis Listed in this Report are:

• Accenture
• Appian Corporation
• BP Logix, Inc.
• Genpact
• Infosys Limited
• International Business Machines Corporation
• Kissflow Inc.
• Nintex Global Ltd.
• Open Text Corporation
• Salesforce

BPA powered with Artificial Intelligence (AI) and Machine Learning (ML), AI/ ML can be integrated in BPA for not just predictability but also data driven decision making. BPA solutions that are AI-driven can process large volumes of data and thus identify trends, foresee results and propose variations in operations to further optimize performance. With businesses intensifying their dependence on data-driven strategies, these implementations will grow too - meaning bigger investments in BPA due to the demand for better business intelligence and analytics.

Business Process Automation Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 13.8 Bn
Market Size by 2032	US$ 38.48 Bn
CAGR	CAGR of 12.10% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	. Automation streamlines repetitive tasks and processes, leading to faster execution and reduced human error. . Automation reduces the need for manual intervention, which can significantly cut down on operational expenses.

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Segment Analysis

By Service

Business Process Automation (BPA) Market by support and maintenance segment is held a market share of over 45% in 2023. This segment is anticipated to have the highest market share among all other applications as it plays a important role in ensuring customer satisfaction and addressing post-installation concerns. Support and Maintenance the need for addressing customer queries, retaining the efficiency of software functioning as well providing continuous aid. These services improve product knowledge and customer relationships which drive growth in the BPA market.

By Deployment Model

On-premises segment accounted for a large share of the market over 65% in 2023. This is preferable for applications where you need to handle and storing sensitive, confidential data in your own infrastructure or when there are strict privacy concerns. high initial costs and manual effort required for on-premises deployment are justified by the added security and control it offers. This is favoured by larger enterprises as it caters to some of their security and compliance needs.

Business Process Automation Market Key Segmentation:

By Component

• Platforms
• Services

By Services

• Consulting
• Deployment and integration
• Support and maintenance

By Deployment Type

• Cloud
• On premises

By Organization size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Business function

• Human Resource Automation
• Supply Chain Automation
• Accounting and Finance Automation
• Sales and Marketing Automation
• Customer Service Support Automation
• Others

By Verticals

• BFSI
• Manufacturing
• IT
• Telecommunications
• Retail and Consumer Goods
• Healthcare
• Others

Key Regional Developments

North America held the largest revenue share of global BPA market in 2023. Organizations in the US are proving to be leaders when it comes to using automation technologies that deliver operational efficiencies and help them remain competitive globally. The U.S. regulatory environment is one of the best in North America which helps both innovation and R&D for improving product maturity with its worldwide utilization, finally boosting BPA market.

The APAC is projected to grow with the highest growth rate in the coming years. In APAC, the demand for BPA solutions increases due to the adoption of new technologies and rising IT spending across organizations. The increasing demand for automating marketing campaigns and quota management are also impacting the BPA adoption in the region.

Recent Developments

• UiPath released an upgrade to its platform in June 2023, adding AI and machine learning-based robotic process automation options. This upgrade is introducing the latest AI technologies to automate complex business processes and improve operational efficiency.
• In March 2023 Microsoft had announced that Power Automate would be combined with Azure AI services. Through this integration, organizations can benefit from AI-driven automation to create more sophisticated workflows and transform data - ultimately improving operational efficiency and decision-making.
• BPA implementation led to a 25% reduction in manual processing time for 47% of U.S. businesses by year-by-year. This in turn frees workers to concentrate on higher level, strategic tasks that are the bedrock of future growth and innovation.

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Key Takeaways

• BPA solutions improve efficiency, Automation of basic, repetitive tasks leads to optimal use of resources i.e. time and money for organizations- ultimately higher productivity.
• Integration of AI and ML, cloud-based solutions, rise in remote work are major opportunities boosting BPA market expansion.
• The market share is led by North America, as it has a robust infrastructure and high tech-savvy population; at the same time, APAC held great potential for growth due to dynamic adoption of technology and growing IT spending.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

5. Porter's 5 Forces Model

6. Pest Analysis

7. Business Process Automation Market Segmentation, By component

8. Business Process Automation Market Segmentation, By Service

9. Business Process Automation Market Segmentation, By Deployment Type

10. Business Process Automation Market Segmentation, By Organization size

11. Business Process Automation Market Segmentation, By Business Function

12. Business Process Automation Market Segmentation, By Verticals

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

16. Use Case and Best Practices

17. Conclusion

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