As per the latest study by Fact.MR, the global business workflow automation market is likely to experience strong growth. By 2026 end, the global market for business workflow automation is projected to bring in US$ 5,247.2 million revenue.
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Highlights on Global Business Workflow Automation Market
- North America is expected to dominate the global business workflow automation market throughout the forecast period. By the end of 2026, North America is estimated to reach close to US$ 1,600 million revenue. Telecom, transportation, IT, BFSI, and hospitality industries in Canada and the U.S. are increasingly adopting business workflow automation.
- Europe and Asia Pacific Excluding Japan (APEJ) are also expected to witness significant growth. Entry of established players in the APEJ region is driving the adoption of business workflow automation.
- Technology-based solution is expected to witness the highest growth during the forecast period. Technology-based solution is estimated to exceed US$ 2,100 million revenue by the end of 2026.
- Healthcare and pharmaceuticals is anticipated to be the largest industry in the business workflow automation market. Towards the end of 2026, the healthcare and pharmaceuticals industry is estimated to generate revenue more than US$ 900 million.
Considering the broad scope of the global business workflow automation market the report by Fact.MR offers key insights, segment-wise analysis, and forecast. The global business workflow automation market is segmented on the basis of deployment type, industry, platform type, organization type, and region. The segment-wise analysis also includes country-wise forecast on all the key parameters of the global business workflow automation market.
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.
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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