Business Workflow Automation Market Research Report: Examined by Size, Trends, Share and Leading Supporting Factors through 2026

Posted on 2018-09-06 by Mark Hub in Technology // 0 Comments

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Workflow automation and optimization solutions form an important part of business process management and helps in streamlining and optimization of business workflow. Offering various advantages such as documented information, easy scheduling, no loss of data, easy dealing with large volumes of paper, business workflow automation is being adopted across businesses. Companies providing software solution for workflow automation are also integrating advanced features that are easy-to-use and saves time and money. This report, compiled by FactMR, provides in-depth analysis of the global Business Workflow Automation Market for the forecast period 2017-2026, offering key insights on the growth prospects of the market.

The scope of the FactMR’s report is to analyze the global business workflow automation market for the forecast period 2017-2026 and offer accurate and unbiased insights to the readers. Business workflow automation suppliers, stakeholders and manufacturers in the global information and communication technology industry can benefit from the analysis offered in this report. Comprehensive analysis regarding the impact of technological advancements such as cloud computing, internet of things (IoT), big data and artificial intelligence is detailed in this report. The comprehensive study throws light on various trends, dynamics and restrains shaping future of the market, which can serve as a platform of further study, interest and understanding for the leading industries, journals and trade magazines pertaining to global business workflow automation market

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Business workflow automation leads to the faster decision making, helps in effectively managing work, increasing production capacity, and also helps in enhancing internal communication. Businesses are adopting workflow automation solutions on a large scale. Hence, companies providing workflow automation software and tools are also adding features that can help in optimizing various processes throughout departments. Key players are also providing software that can integrate with third-party applications and databases.

Technology-Based Solution to Emerge as the Largest Deployment Type

Compared to various solutions, the technology-based solution is likely to emerge as the largest deployment type between 2017 and 2026. By 2026 end, technology-based solution is projected to surpass US$ 2,100 million revenue. Increasing number of businesses have moved to cloud computing, hence companies are increasingly relying on technology-based solutions to strengthen business process and offer better products and services.

Healthcare & Pharmaceuticals Industry to Account for Maximum Revenue Share

The healthcare & pharmaceuticals industry is likely to witness the fastest growth in the market through 2026. Healthcare & pharmaceuticals industry is projected to account for more than US$ 900 million revenue by 2026 end. Owing to the better control, improved efficiency, and reduced risk, the healthcare & pharmaceuticals industry are increasingly adopting workflow automation. Hence, companies are also building business workflow automation solution that specifically caters to the healthcare & pharmaceuticals industry.

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On-Premise to Emerge as the Largest Platform type

On-premise is likely to witness healthy growth as compared to the cloud-based platform between 2017 and 2026. By 2026 end, on-premise platform is projected to reach close to US$ 3,900 million revenue. An on-premise platform has low cost of ownership as compared to the cloud-based platform. Moreover, on-premise platform does not rely on internet connectivity to access the software. However, on-premise platform takes longer implementation time.

Small & Medium Enterprise to Gain Maximum Traction

Compared to the large enterprise, small & medium enterprise are likely to gain maximum traction in the global market for business workflow automation. Small & medium enterprise are projected to bring in close to US$ 2,700 million revenue by 2026 end. In order to strengthen product development, marketing and business processes, small & medium enterprise are moving towards business workflow automation. Also, implementation of business workflow automation in sectors such as finance and accounting, and supply chain management are underway.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global business workflow automation market through 2026, which include Tibco Software, HCL Technologies, SAS Institute, SAP SE, Nintex Limited, Newgen Software Technologies Limited, IPSoft Inc., Vision Software SA, Appian, Software AG, PegaSystems Inc., Oracle Corporation, IBM Corporation, Kyocera, Canon, Ricoh, HP Inc., Lexmark, OpenText Corporation, and Xerox Corporation.

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About FactMR

FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized global market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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