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Business Workflow Automation and Optimization Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

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Business workflow automation and optimization tools and software enable tasks and processes to be automated in an organization, thereby optimizing productivity. Activities such as assignments, requests, approvals, and claims are automated through a digitally executed organized workflow, eliminating paper and much of the manual work. Through this tool, documents, notes, and comments are routed, consolidated, and preserved for retrieval and reference purposes. It benefits organizations by improving communication through the automatic notification of process or task completion, reduction of human error and time-to-market, streamlining of processes, integration of other third-party applications for added benefits, and real-time reporting to enable quick-decision making. With a transformation toward digital workflow systems, businesses require improvements in their front-office and back-office processes to increase product consistency and reduce costs and waste. This reconfiguration of work and processes in an organization gives rise to the need for automation to make enterprise resource planning (ERP) more agile so as to capitalize on return on investment. Such software provides data visualization features for processes and workflow status, automatic form-filling abilities, and ease in report generation.

The growing need to reduce human effort and errors is giving rise to the requirement for the automation of processes and workflow, thus driving the business workflow automation and optimization software market. The reduction of manual work and repetitive tasks through automation leads to a reduction in errors, thus saving time and ensuring quality. Furthermore, with the growing size and expenses of organizations, there is an increasing need to adopt cost-effective techniques and tools. This is fuelling the growth of the business workflow automation and optimization software market. Such tools and software also help improve communication and organization by means of notifications, alerts, status updates, platform pop-ups, and post-it notes. These help an organization process information more quickly and reduce time-to-market to gain an edge in terms of competition. Such solutions and features are bolstering the growth of the business workflow automation and optimization software market globally. However, high initial investments are a rising concern for the business workflow automation and optimization software market as they may hinder market growth during the forecast period. Nonetheless, off-the-shelf customized products are expected to lead to market growth opportunities during the forecast period.

The global business workflow automation and optimization software market has been segmented on the basis of deployment, end-use industry, and geography. As per deployment, the market has been classified into on-premise and cloud. On the basis of end-use industry, the global business workflow automation and optimization software market has been divided into legal, IT and telecom, education, BFSI, transportation and logistics, manufacturing, healthcare, and others. In terms of geography, the global business workflow automation and optimization software market has been segmented into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America is expected to showcase significant growth during the forecast period owing to the high rate of digitization among organizations.

Some of the major players in the global business workflow automation and optimization software market include Oracle Corporation, International Business Machines Corporation, SAS Institute Inc., Adobe Systems Incorporated, SAP SE, OnviSource Inc., Microsoft Corporation, Xerox Corporation, Patterson Pope, Inc., and JDA Software Group, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.   

Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.

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