Overview and Scope
Workflow automation and optimization software refers to tools and platforms designed to streamline and improve business processes by automating repetitive tasks, reducing manual intervention, and enhancing efficiency. These software solutions often incorporate features such as workflow visualization, task assignment, integration with other applications, and analytics to drive productivity and effectiveness within organizations.
Sizing and Forecast
The workflow automation and optimization software market size has grown rapidly in recent years. It will grow from $1.25 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to increasing adoption of cloud computing, rising need for process efficiency, growing volume of digital data, emergence of robotic process automation (RPA), and demand for cost reduction.
The workflow automation and optimization software market size is expected to see rapid growth in the next few years. It will grow to $2.15 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to a focus on enhancing customer experience, growth of hybrid and multi-cloud environments, increasing demand for intelligent automation, emphasis on scalability and flexibility, and proliferation of Internet of Things (IoT) devices. Major trends in the forecast period include shift towards hyperautomation, rise of intelligent document processing (IDP), acceleration of robotic workforce orchestration, emergence of explainable AI (artificial intelligence) in workflow automation, and expansion of industry-specific workflow solutions.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/workflow-automation-and-optimization-software-global-market-report
Segmentation & Regional Insights
The workflow automation and optimization software market covered in this report is segmented –
1) By Type: On-Premise, Cloud, Mixed
2) By Organization Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
3) By End-Use: Banking, Financial Services, And Insurance (BFSI), Education, Healthcare, Manufacturing, Retail, Transportation And Logistics, Telecommunications And Information Technology (IT), Other End-Uses
North America was the largest region in the workflow automation and optimization software market in 2023. The regions covered in the workflow automation and optimization software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15028&type=smp
Major Driver Impacting Market Growth
The growing risk of cyber-attacks is expected to propel the growth of the workflow automation and optimization software market going forward. Cyber-attacks refer to malicious actions aimed at disrupting, damaging, or gaining unauthorized access to computer systems, networks, or digital devices. The growing risk of cyber-attacks is due to increased connectivity, increasingly profitable, attracting both individual hackers and organized criminal groups. Workflow automation and optimization software can help streamline and standardize processes, reducing the likelihood of human error that could lead to security vulnerabilities. These can facilitate rapid incident response by automating the execution of predefined response actions. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, in 2022, cyber-crime reports received were 76,000, up from 13% from the previous year. Therefore, the growing risk of cyber-attacks drives the workflow automation and optimization software market.
Key Industry Players
Major companies operating in the workflow automation and optimization software market are Amazon Web Services (AWS), IBM Corporation, Oracle Corporation, SAP SE, Cognizant Technology Solutions Corporation, Adobe Inc., ServiceNow Inc., Xerox Corporation, Genpact Limited, SAS Institute Inc., Dropbox Inc., DocuSign Inc., Datadog Inc., Pegasystems Inc., JDA Software Group Inc. (Blue Yonder Group Inc.), UiPath Inc., Box Inc., Coupa Software Inc., BlackLine Inc., Appian Corporation, Automation Anywhere Inc., Celonis SE, Nintex Global Limited, Pipefy Inc., Camunda Services GmbH, Boston Software Systems, Tungsten Automation Corporation, Reva Solutions
The workflow automation and optimization software market report table of contents includes:
1. Executive Summary
.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
The Middle East & Africa Toothpaste Market was valued at USD 3.38 billion in 2023…
The Europe Caravan and Motorhome Market was valued at USD 13.86 billion in 2023 and…
The Europe Motorized Quadricycle Market is projected to reach USD 749.62 million by 2030, growing…
The North America Mattress Market, valued at USD 14.58 billion in 2023, is projected to…
The MEA (Middle East and Africa) Online Gambling Market was valued at approximately USD 17.44…
The Asia Pacific Coffee Market was valued at USD 133,690.66 million in 2023 and is projected to…