Albany, US, 2017-Sep-13 — /EPR Network/ — Multinational tech giants have influenced the global workflow automation and optimization software market. This market is dominated by the five top players across the world and those five key vendors have grabbed half of the share of the global workflow automation and optimization software market. These top five players are constantly in competition with each other in terms of innovation of various products. A research report, “Workflow Automation and Optimization Software Market – Global Industry Analysis (2012-2016) and Forecast (2017 – 2025),” published by Market Research Reports Search Engine for global workflow automation and optimization software market is expected to touch robust Compound Annual Growth Rate of 8.7% during the projected period, i.e. 2017 to 2025. The market is likely to be valued to US$ 1.456 Bn by the end of 2025.
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Growing Investment of Third Party Platform to Contribute the Development of the Global Workflow Automation and Optimization Software Market
- Various advantages presented by the software solution are boosting the evolution of the global market
- Rising dependency on cloud system along with demand for faster and efficient processes of business are driving the progress of the global market for workflow automation and optimization software market
- Improved communication, possibility of real-time reporting and reduction in human errors are some of the factors which are fuelling the development of the global market
- Increasing investment of third party platforms and shift towards digitalization of business processes are the primary factors which are creating positive impact on the overall global workflow automation and optimization software market
Global Workflow Automation and Optimization Software Market- Forecast by Segments
The end-use segment of the global market for workflow automation and optimization software market is segmented into Banking, Financial Services and Insurance (BFSI), education, healthcare, manufacturing, retail, transportation and logistics, telecommunication and IT and others. Among all the segments, BFSI segment is likely to grab a maximum share, i.e. 21.8% share in 2016. During the projected period, the BFSI segment is expected to expand at a healthy CAGR of 8.3%. This particular segment is continue to hold its influencing position in the global workflow and optimization software market. One of the major reason behind the growth of BFSI segment is banks gradually leveraging improved smart ATMs, fraud management solutions and mobile banking. On the basis of deployment type, the global market for workflow automation and optimization software market is divided into on-premise, cloud and mixed segments.
Global Workflow Automation and Optimization Software Market- Forecast by Region
Latin America, Asia Pacific, South America, the Middle East and Africa, and Europe are the key players covered in this research report. North America which dominated this market is likely to earn the revenue of US$ 566 Mn by the end of 2025, expanding a CAGR of 8.6%. Asia Pacific is another important region its growth in the global workflow automation and optimization software market is due to fast acceptance of this market across various industry verticals.
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Global Workflow Automation and Optimization Software Market- Competitive Landscape
International Business Machines Corporation, Boston Software Systems, Oracle Corporation, SAP SE, JDA Software Group, Xerox Corporation, Reva Solutions, SAS Institute, Inc., and Flexera Software LLC are some of the key players operating in the global workflow automation and optimization software market.
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