According to a new report published by UnivDatos Markets Insights the workflow automation market is expected to grow at a CAGR of around 17% from 2021-2027. The analysis has been segmented into Offering(Solutions and Services) Process (Automation Solution, Decision Support Management, and Interaction Support Management ); Deployment(On-Premises and Cloud); End-User(Manufacturing, Logistics, Healthcare and Pharmaceuticals, retail, Telecom, banking, Others) Region/Country.
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The workflow automation market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the workflow automation market. The workflow automation market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the workflow automation market at the global and regional levels.
Market Overview
Workflow automation refers to the process of automating a set of manual processes or tasks based on a set of pre-defined rules or conditions. It helps you reduce the use of resources and time, more importantly, the chances of human-made errors. As a result, it improves a business’s overall efficiency, audibility, and accountability. The growing adoption of workflow automation is surging due to the increasing complexities involved in workforce management. Furthermore, workflow automation provides several benefits to enterprises including – streamlining communication, creating accountability, reducing costs and error, creating more workplace efficiency, empowering employees to manage their own time, improving management, and providing real-time reports. Additionally growing use of workflow automation software in hospitals and medical centers for managing repetitive documentation, administrative & medical staff management as well as easy access to the patient’s administrative and clinical data in all the departments.
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the workflow automation market. The sudden shift to remote work, which has been necessitated by the pandemic, has driven an increased demand for workflow automation solutions. With remote work becoming the norm for many organizations, there has been a need for better coordination and communication among team members, which can be facilitated by workflow automation tools.
· Based on offering, the market is segmented into software and services. The software segment is expected to achieve considerable prominence during the forecast period. The growing adoption of workflow automation software can be attributed to the growing demand for structured data formats in various organizations. Furthermore, using workflow automation tools has various benefits such as on-time purchase, less maintenance cost, and ease of implementation and customizations. Moreover, organizations around the world are investing heavily in the innovation and research and development of workflow automation software.
· Based on process the market is segmented into automation solutions, decision support and management solution, and interaction solution. During the forecast period, the automation solutions are expected to achieve a significant CAGR, owing to the high degree of flexibility and scalability of the automated solutions. Furthermore, the growing demand for real-time data analysis across geographies and increasing adoption of the latest technology across various end-use industries to improve performance are expected to drive the workflow automation market.
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Workflow Automation Market Geographical Segmentation Includes:
· North America (US, Canada, Rest of North America)
· Europe (Germany, France, Spain, UK, Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of Search and Rescue Robots, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North American region is expected to grow significantly during the forecast period, the growth in the region can be attributed to the rising adoption and implementation of tests and measuring equipment, and the presence of prominent players, furthermore, rising investment by telecommunication equipment manufacturers and telecom operators, and availability of faster internet connectivity are the main reasons for the adoption of communication test and measurement solutions in the region.
The major players targeting the market include
· IBM Corporation
· K2 Software Inc.
· Open Text Corporation
· Oracle Corporation
· Pegasystems Inc.
· Software AG
· Blue Prism Limited
· Tibco Software Inc.
· Uipath,
· Xerox Corporation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Workflow Automation Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the workflow automation market?
• Which factors are influencing the workflow automation market over the forecast period?
• What are the global challenges, threats, and risks in the workflow automation market?
• Which factors are propelling and restraining the workflow automation market?
• What are the demanding global regions of the workflow automation market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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