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Business Workflow Automation Market Poised to Expand at a Robust Pace Over 2027






Business workflow automation is witnessing increasing demand by
businesses in order to streamline workflow and business process. Hence,
leading companies are offering workflow automation solutions that are
easy to implement and also helps in setting standards and tracking the
performance of the employees. Software providers are also focusing on
providing business workflow automation solution on basis of the
industry. For instance, companies are offering services and tools that
can improve the way a particular industry or sector is dealing with the
documents and various business operations. With efficiency, productivity
and accuracy becoming core objective of businesses, the demand for data
capture automation tools is also rising. The increasing adoption of
cloud systems, is also driving the use of cloud-based business workflow
automation. Companies are also outsourcing workflow automation software
development to effectively track and execute business processes.

The latest report by Fact.MR expects the global business workflow automation market
to witness substantial growth, registering a CAGR of 9.6% during the
forecast period 2017-2026. By the end of 2026, the global business
workflow automation market is estimated to reach US$ 5,247.2 million
revenue. There has been an increasing adoption of the solutions and
software offering business workflow automation. From data entry and
processing to managing general content and records, the demand for
business workflow automation is rising at a fast phase. Below are some
insights on how the global business workflow automation will perform in
the coming years.


6 Forecast Highlights on Global Business Workflow Automation Market

  • North America is expected to dominate the global business workflow
    automation market throughout the forecast period. By the end of 2026,
    North America is estimated to reach close to US$ 1,600 million revenue.
    Telecom, transportation, IT, BFSI, and hospitality industries in Canada
    and the U.S. are increasingly adopting business workflow automation.  
  • Europe and Asia Pacific Excluding Japan (APEJ) are also expected to
    witness significant growth. Entry of established players in the APEJ
    region is driving the adoption of business workflow automation.
  • Technology-based solution is expected to witness the highest growth
    during the forecast period. Technology-based solution is estimated to
    exceed US$ 2,100 million revenue by the end of 2026.
  • Healthcare and pharmaceuticals is anticipated to be the largest
    industry in the business workflow automation market. Towards the end of
    2026, the healthcare and pharmaceuticals industry is estimated to
    generate revenue more than US$ 900 million.
  • On-premise platform is likely to witness the highest growth during
    the forecast period 2017-2026. On-premise platform is expected to exceed
    US$ 3,800 million revenue by the end of 2026.
  • Small & medium enterprise are expected to adopt business
    workflow automation on a large scale. Small & medium enterprise
    segment is estimated to create an incremental opportunity of more than
    US$ 1,600 million during 2017-2026.

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The
report also offers competitive profiling of the leading players in the
global market for business workflow automation, which will operate
through 2026. These include companies such as Xerox Corporation,
OpenText Corporation, Lexmark, HP Inc., Ricoh, Canon, Kyocera, IBM
Corporation, Oracle Corporation, PegaSystems Inc., Software AG, Appian,
Vision Software SA, IPSoft Inc., Newgen Software Technologies Limited,
Nintex Limited, SAP SE, SAS Institute, HCL Technologies, and Tibco
Software.