Worldwide Business Process Automation Industry to 2026 - Key Drivers and Restraints
DUBLIN, May 6, 2021 /PRNewswire/ -- The "Global Business Process Automation Market By Component, By Business Function, By Deployment Type, By Enterprise Size, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Business Process Automation Market size is expected to reach $19.4 billion by 2026, rising at a market growth of 13.2% CAGR during the forecast period. The utilization of technology to perform repetitive tasks or processes in a business where manual efforts can be substituted is known as business process automation. It is performed with an aim to reduce costs, enhance efficiency, & simplify processes.
For corporate functions, business process management has always been a crucial factor; however, only in recent years a bright possibility emerged to refine and simplify the several activities contained in this domain. A large number of companies operating in a wide range of industries have become more dependent on digital technology for various corporate operations and objective realization, automation has gained a major position in the IT investment landscape.
The installation of strategic solutions and frameworks that will cut down the chances of errors, rework, and other ineffective processes, boost employee engagement, enhance the accuracy of reporting and free up main staff members to focus on performance enhancement are the common principle of automation in the modern day workplace. From data entry and invoice processing to typical content management and records outlook, the applications of business process automation is expected to expand more in the midst of increasing demand for the solutions.
Component Outlook
Based on Component, the market is segmented into Platforms (Without Services) and Services. The Platforms (Without Services) market dominated the Global Business Process Automation Market by Component 2019, growing at a CAGR of 12.2 % during the forecast period. The Services market is expected to witness a CAGR of 15.4% during (2020 - 2026).
Business Function Outlook
Based on Business Function, the market is segmented into Sales & Marketing Automation, Supply Chain Automation, Human Resource Automation, Accounting & Finance Automation, Customer Service Support Automation and Others. The Sales & Marketing Automation market dominated the Global Business Process Automation Market by Business Function 2019. The Supply Chain Automation market is experiencing a CAGR of 12.2% during (2020 - 2026). Additionally, The Human Resource Automation market is witnessing a CAGR of 13.9% during (2020 - 2026).
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. On the basis of the deployment model, the on-premises segment is expected to procure the major revenue share in the BPA market during the forecast period. In the on-premises delivery mode, software or platforms are implemented and managed from the in-house server of customers and computing framework. The price of implementing on-premises platforms is involved in the Capital Expenditure (CAPEX) of organizations.
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Due to massive initial upfront prices and the requirement for manual intervention, the on-premises deployment type can be purchased only by big companies. Big companies install the on-premises BPA platforms due to privacy and security concerns associated with sensitive data.
End User Outlook
Based on End User, the market is segmented into BFSI, Retail & Consumer Goods, Manufacturing, Healthcare, Telecom & IT and Others. The BFSI market dominated the Global Business Process Automation Market by End User 2019. The Retail & Consumer Goods market is showcasing a CAGR of 13.5% during (2020 - 2026). The Manufacturing market is poised to grow at a CAGR of 14.8% during (2020 - 2026). Additionally, The Healthcare market is expected to witness a CAGR of 14.2% during (2020 - 2026).
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged as the leading region of the global business process automation market. North America has always been a technologically advanced region with respect to the adoption of modern technologies because of the high awareness among companies about the advantages and the existence of expertise among the workforce to create innovative solutions across all technology segments.
The major strategies followed by the market participants are Acquisition and Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Business Process Automation Market. Companies such as Nintex, Inc., IBM Corporation, and Pegasystems, Inc., Oracle Corporation Salesforce.com, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Software AG, Salesforce.com, Inc., Microsoft Corporation, Appian Corporation, Pegasystems, Inc., DXC Technology Company, AgilePoint, and Nintex, Inc.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Business Process Automation Market, by Component
1.4.2 Global Business Process Automation Market, by Business Function
1.4.3 Global Business Process Automation Market, by Deployment Type
1.4.4 Global Business Process Automation Market, by Enterprise Size
1.4.5 Global Business Process Automation Market, by End User
1.4.6 Global Business Process Automation Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, May - 2021, Mar) Leading Players
Chapter 4. Global Business Process Automation Market by Component
4.1 Global Business Process Automation Platforms (Without Services) Market by Region
4.2 Global Business Process Automation Services Market by Region
Chapter 5. Global Business Process Automation Market by Business Function
5.1 Global Business Process Automation Sales & Marketing Automation Market by Region
5.2 Global Business Process Automation Supply Chain Automation Market by Region
5.3 Global Business Process Automation Human Resource Automation Market by Region
5.4 Global Business Process Automation Accounting & Finance Automation Market by Region
5.5 Global Business Process Automation Customer Service Support Automation Market by Region
5.6 Global Other Business Function Business Process Automation Market by Region
Chapter 6. Global Business Process Automation Market by Deployment Type
6.1 Global On-premise Business Process Automation Market by Region
6.2 Global Cloud Business Process Automation Market by Region
Chapter 7. Global Business Process Automation Market by Enterprise Size
7.1 Global Large Enterprises Business Process Automation Market by Region
7.2 Global Small & Medium Enterprises Business Process Automation Market by Region
Chapter 8. Global Business Process Automation Market by End User
8.1 Global BFSI Business Process Automation Market by Region
8.2 Global Retail & Consumer Goods Business Process Automation Market by Region
8.3 Global Manufacturing Business Process Automation Market by Region
8.4 Global Healthcare Business Process Automation Market by Region
8.5 Global Telecom & IT Business Process Automation Market by Region
8.6 Global Others Business Process Automation Market by Region
Chapter 9. Global Business Process Automation Market by Region
9.1 North America Business Process Automation Market
9.2 Europe Business Process Automation Market
9.3 Asia Pacific Business Process Automation Market
9.4 LAMEA Business Process Automation Market
Chapter 10. Company Profiles
10.1 IBM Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments
10.1.5.1 Partnerships, Collaborations, and Agreements
10.1.5.2 Acquisition and Mergers
10.1.5.3 Product Launches and Product Expansions
10.1.6 SWOT Analysis
10.2 Oracle Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments
10.2.5.1 Partnerships, Collaborations, and Agreements
10.2.5.2 Product Launches and Product Expansions
10.2.6 SWOT Analysis
10.3 Software AG
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments
10.3.5.1 Partnerships, Collaborations, and Agreements
10.3.5.2 Product Launches and Product Expansions
10.4 Salesforce.com, Inc.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional Analysis
10.4.4 Research & Development Expense
10.4.5 Recent strategies and developments
10.4.5.1 Partnerships, Collaborations, and Agreements
10.4.5.2 Product Launches and Product Expansions
10.4.6 SWOT Analysis
10.5 Microsoft Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments
10.5.5.1 Acquisition and Mergers
10.5.6 SWOT Analysis
10.6 Appian Corporation
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments
10.6.5.1 Partnerships, Collaborations, and Agreements
10.6.5.2 Acquisition and Mergers
10.6.5.3 Product Launches and Product Expansions
10.7 Pegasystems, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments
10.7.5.1 Partnerships, Collaborations, and Agreements
10.7.5.2 Acquisition and Mergers
10.7.5.3 Product Launches and Product Expansions
10.7.6 SWOT Analysis
10.8 DXC Technology Company
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Recent strategies and developments
10.8.4.1 Partnerships, Collaborations, and Agreements
10.8.4.2 Product Launches and Product Expansions
10.9 AgilePoint
10.9.1 Company Overview
10.9.2 Recent strategies and developments
10.9.2.1 Partnerships, Collaborations, and Agreements
10.9.2.2 Product Launches and Product Expansions
10.10. Nintex, Inc.
10.10.1 Company Overview
10.10.2 Recent strategies and developments
10.10.2.1 Partnerships, Collaborations, and Agreements
10.10.2.2 Product Launches and Product Expansions
10.10.2.3 Acquisition and Mergers
For more information about this report visit https://www.researchandmarkets.com/r/r18kwr
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