Global Workflow Automation Market: Overview
The global workflow automation market is growing at a stellar pace in recent times. The business sector has undergone grassroot-level changes, and has embraced new technologies. Processes that can expedite the growth of businesses are readily adopted across industrial frameworks. There is a stellar need for improved workflows and functionalities across businesses, and industry leaders are earnest about accomplishing this requirement. The past decade has been resplendent with the development of improved technologies based on automation, artificial intelligence, and machine learning. In this scenario of rapid technological disruptions, the business sector is also looking to overhaul its operational dynamics. Therefore, the global workflow automation market is expected to attract increased revenues in the years to follow.
A report on the global workflow automation market by Transparency Market Research (TMR) uncovers several factors related to market growth. The global workflow automation market can be segmented on the basis of end-use, application, and region. Based on end-use, the demand for workflow automation in business functionalities has been tremendous. The indispensability of workflows within all organized businesses can be quoted as a key reason behind this trend.
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Global Workflow Automation Market: Notable Developments
The rapid strides of development that have offset across the business sector have given rise to several key changes in the competitive dynamics of the global workflow automation market.
Charlie AI, a Vancouver-based start-up, has recently launched its homegrown product for workflow automation. The company announced the limited release of its new product that is meant to automate workflows across the financial domain of businesses. The start-up has successfully developed a solution that can expedite tasks related to scheduling, customer communications, and invoicing. The intent behind the product is to expedite processes that may otherwise consume excessive time.
Asana, a renowned work management vendor, has also entered into the workflow automation market. The company has added a range of new automation features to its existing solutions. It has ventured into the area of digitizing text from images, and this is a key development for the company.
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Global Workflow Automation Market: Growth Drivers
Integration of Automation Technologies
The growth of an organization is enshrined in its ability to increase the efficiency of its people and resources. Integration of automation technologies in automation offers wider scope for improvisation within businesses. This integration also facilitates faster deployment of business functionalities and more efficient execution of tasks. Therefore, the use of workflow automation across global organizations has become an undelayable feat. It is also safe to assert that the use of workflow automation has improved the overall efficiency of several industries. The design and execution of processes within an enclosed setup depends on the nature of operations the setup caters to. Therefore, workflow automation comes into play right at the inception of a setup.
- Need for Faster Retrieval Time
The global workflow automation market has amassed a large volume of revenues from the commercial sector. The need for standardization, quick communication, and faster retrieval time across this sector has paved way for the integration of workflow automation. Furthermore, the importance of data management and information sharing within organizations has shifted the focus towards automation technologies. The use of workflow automation helps in minimizing the scope of error in data storage and retrieval. Besides, workflow automation can be integrated in accordance to the pre-defined rules of a business or organization.
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.