Summary

The Global Workflow Automation Market is expected to grow at a CAGR of 17% during the forecast period. 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.

Insights Presented in the Report
“Amongst offering, the software category accounted for the majority share in the market in 2020”
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.

“Amongst process, the automation solution segment is expected to witness the highest CAGR during the forecast period”
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.

“Amongst deployment, the cloud segment is expected to witness the highest CAGR during the forecast period”
Based on deployment the market is segmented into on-premises and cloud. During the forecast period, the cloud-based segment is expected to hold the majority of the market owing to the ease of implementation of the cloud-based solutions. Moreover, moving to the cloud saves the upfront cost of purchasing, managing, and upgrading IT systems. Thus, using the cloud model converts capital expenditure to operational expenditure. The cloud provides accessibility from anywhere, data on the cloud can be accessed from anywhere and has zero to very less maintenance costs.

“Amongst end-user, the retail industry is expected to witness the highest CAGR during the forecast period”
Based on end-user, the market is segmented into manufacturing, logistics, healthcare and pharmaceuticals, retail, telecom & Pharmaceuticals, banking, and others. The retail industry is expected to achieve a significant CAGR during the forecast period. Workflow automation enhances the customer experience by capturing and analyzing patterns, identifying, predicting, and providing on-demand services. These factors are driving the growth of workflow automation in the retail industry. Workflow automation gives retailers access to all their business matters for a timely response, further driving their adoption in the workflow automation industry.

“North America to witness significant growth during the forecast period”
North America to witness significant growth during the forecast period, the countries such as the US, and Canada are implementing workflow automation in different verticals such as banking, telecom, retail, and others to manage business processes. Furthermore, the rising focus on digital transformation initiatives, growing adoption of cloud technology, and increasing penetration of process management & automation solutions in this region are the primary factors that are boosting the market growth.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global workflow automation market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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