Business Process Automation Market size to grow by USD 9,951.8 million from 2022 to 2027, globally at 14.47% CAGR- Market size, Share, Trends

NEW YORK, Feb. 20, 2024 /PRNewswire/ -- The latest report on the business process automation market, 2022-2027 estimates to register an incremental growth of USD 9,951.8 million. The market will progress at a CAGR of 14.47% during the forecast period. Request sample report 

The market is fragmented due to the presence of diversified international and regional vendors. Increasing demand for process automation in various industries drives the growth of the BPA market. Automation helps to optimize processes, increase productivity, and achieve higher levels of operational efficiency for organizations. This is enabled by automation tools, which can schedule production, monitor equipment, track inventory levels, and automate order fulfillment. The use of automation tools improves production efficiency, reduces costs, and ensures timely delivery. For instance, in the financial services sector, BPA solutions automate processes such as loan processing, account opening, invoice processing, and regulatory compliance. Hence, such factors boost the growth of the business process automation market during the forecast period.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Appian Corp., Bizagi Group Ltd., BONITASOFT SA, Compulink Management Center Inc., CREATIO EMEA Ltd., DXC Technology Co., FlowForma, Genpact Ltd., International Business Machines Corp., Kissflow Inc., Microsoft Corp., Newgen Software Technologies Ltd., Nintex Global Ltd., Open Text Corp., Oracle Corp., Pegasystems Inc., Salesforce Inc., Software AG, Thoma Bravo LP, and Vista Equity Partners Management LLC are among some of the major market participants.

• Appian Corp. - The company offers a business process automation solution namely Appian Platform for process automation and process mining.
• Bizagi Group Ltd. - The company offers business process automation which boosts enterprise efficiency by analyzing, optimizing, and automating processes to gain visibility and transform operations.
• CREATIO EMEA Ltd. - The company offers business process automation including process modeling, execution, monitoring, and analysis.

High adoption process automation in retail and e-commerce is an emerging BPA market trend. Automation enables to synchronization of inventory across online and offline channels, automates order fulfillment, and provides self-service customer support options, improving order accuracy, speeding up fulfillment, and enhancing the overall customer experience. Furthermore, automation tools can also integrate customer data from multiple touchpoints to provide personalized and efficient support, leading to improved customer satisfaction. Hence, such trends fuel the growth of the BPA market during the forecast period.

Data security and privacy issues challenge the growth of the BPA market. For more details understanding of Market Dynamics download Sample reports

Business Process Automation Market is segmented as below:

• End-user 
• Large Enterprises
• SMEs
• Deployment 
• On Premise
• Cloud Based
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The large enterprises segment will be significant during the forecast period.BPA enables companies to automate repetitive and time-consuming tasks, resulting in increased efficiency and productivity. With growth, enterprises. It also provides scalability by automating processes, allowing organizations to handle larger volumes of work without a proportional increase in resources. Factors such as the need for efficiency, cost savings, scalability, improved quality, competitive advantage, compliance, and the opportunities presented by technological advancements drive the demand for BPA in large enterprises during the forecast period. Download a Sample Report

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About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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