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.
New York, April 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "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" - https://www.reportlinker.com/p06064791/?utm_source=GNW
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 would expand more in the midst of increasing demand for the solutions.
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 would 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).
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.
Recent strategies deployed in Business Process Automation Market
Partnerships, Collaborations, and Agreements:
Mar-2021: Nintex collaborated with Zoom Video Communications. Under this collaboration, Nintex Workflow Cloud, the cloud-first platform aims to help Zoom Video Communications to enhance its channel order process.
Feb-2021: Software AG came into collaboration with Automation Anywhere, a global leader in Robotic Process Automation. In this collaboration, Software AG’s ARIS platform would support Automation Anywhere RPA with process mining and process management. It also enhanced the discovery of automation opportunities and then management of automated processes.
Dec-2020: Software AG partnered with Re’flekt, a provider of augmented reality solutions (AR). The partnership aimed to integrate the interactive AR visualizations from Re’flekt with real-time machine data from the Cumulocity IoT platform. Both the companies enable organizations to get benefits from radically enhanced first-time fix rates with their machinery and also substantially expanded maintenance cycles.
Oct-2020: IBM extended its partnership with ServiceNow, an American software company based in Santa Clara, California. This expansion aimed to assist companies to decrease operational risk and cut down costs by implementing AI to automate IT operations. The companies integrated IBM’s AI-powered hybrid cloud software and professional services to ServiceNow’s intelligent workflow offerings & market-leading IT service and operations management products.
Sep-2020: IBM along with Buoy Health collaborated with Conduent Incorporated, a business process services, and solutions company. Conduent integrates IBM and Buoy Health’s cutting-edge technologies and prompt health care resources onto Conduent’s Life@Work platform. The customers of Conduent can utilize the HR platform to access Buoy’s full digital navigation product portfolio that consists of artificial intelligence (AI) driven tools, which assist people to get the appropriate care at the correct time, and IBM Return-to-Workplace Advisor, a data and AI-driven application, which helps companies in operating a secure and efficient return to the workplace.
Sep-2020: DXC Technology extended its partnership with Pegasystems. The expanded partnership combined DXC’s application transformation services with Pegasystems’ market-leading digital equipment to fast-track enterprise users’ transition to modern applications and services.
Jul-2020: Appian collaborated with Automation Anywhere, a developer of robotic process automation software. The collaboration allows Appian users’ Center of Excellence (COE) to provide visibility, scalability, governance, and control over the robotic process automation (RPA) digital workforce offered by Automation Anywhere.
Jun-2020: Oracle teamed up with UiPath, a leading enterprise Robotic Process Automation (RPA) software company. In this collaboration, the companies combined powerful RPA with Oracle Cloud Infrastructure and business applications. The collaboration enables users to simplify complex workflows & complicated processes and aim at strategic tasks that need a human touch.
Jun-2020: Nintex came into partnership with BPD Zenith, a leading provider of Asset Management solutions. The partnership aimed to assist enterprise organizations to boost business outcomes and enhance the way people work. By using the easy-to-use, powerful and comprehensive offerings of the Nintex Process Platform, BPD Zenith helps users realize the value of automating, managing and optimizing business processes on their path to digital transformation.
Mar-2020: Appian partnered with Deloitte Consulting, an Anglo-American multinational professional services network. Under this partnership, the companies aimed to provide customers with the ability to modernize their systems via low-code development and intelligent automation that varies across several technologies, which includes robotic process automation (RPA), artificial intelligence (AI), robotic workforce management (RWM) and many more.
Jan-20202: IBM extended the partnership with Blue Prism, a global leader in Robotic Process Automation. The collaboration combined three main capabilities of IBM Cloud Pak for Automation that consists of Workflow, Capture, and Decisions, with Blue Prism’s Digital Workforce.
Jan-2020: Appian came into partnership with Celonis, the market leader in AI-enhanced Process Mining and Process Excellence software. Together, the companies aimed to boost digital business process transformation and continuous process enhancements for joint users.
Oct-2019: Salesforce teamed up with UiPath, a leading enterprise Robotic Process Automation (RPA) software company. Under this collaboration, UiPath launched UiPath Connector for Salesforce, accessible on Salesforce AppExchange. The UiPath Connector for Salesforce allows users to simplify complicated workflows around various technologies by introducing UiPath automation based on Salesforce.
May-2019: Appian entered into a partnership with UiPath, the leading enterprise robotic process automation (RPA) Software Company. This partnership involves a no-code integration between Appian and the UiPath platform, which can be accessed on the Appian AppMarket.
Apr-2019: Oracle joined hands with Automation Anywhere, the global leader in Robotic Process Automation. The collaboration focused on accelerating intelligent automation and advanced adoption of the company’s AI-driven software bots inside the Oracle Integration Cloud.
Acquisition and Mergers:
Oct-2020: Nintex completed its acquisition of K2 Software, a provider of digital process automation (DPA) software solutions. This Acquisition of K2 Signals helped Nintex to Grow and Change for the Digital Process Automation Market.
Jul-2020: IBM announced the acquisition of WDG Automation, robotic process automation (RPA) software provider in Brazil. This acquisition automated millions of manual business processes globally that include IT service management (ITSM) and help desk tasks.
May-2020: Microsoft took over Softomotive, a world-leading provider of robotic process automation (RPA). The acquisition aimed to bring Softomotive’s desktop automation with the prevailing Microsoft Power Automate offerings at exceptionally affordable pricing. Further, Microsoft democratizes RPA and allowing everyone to make bots to automatize the manual business processes.
Jan-2020: Appian acquired Novayre Solutions SL, developer of the Jidoka RPA platform. This acquisition helped Appian to be a one-stop-shop for Automation, with best-in-class solutions for workflow, AI, and RPA.
Product Launches and Product Expansions:
Feb-2021: Nintex introduced the latest improvements in the company’s next-generation cloud platform, Nintex Workflow Cloud. It features effortless integration with Nintex Analytics to offer users and partners real-time data analytics regarding the performance of their digital workflows.
Jan-2021: AgilePoint unveiled the new Microsoft Power Automate connector. The connector expands two-way communication between Power Automate and the AgilePoint digital process automation platform.
Dec-2020: Salesforce unveiled Einstein Automate, an end-to-end workflow automation solution. The solution empowers individuals and companies to increase their productivity. Einstein Automate offers automation capabilities developed for each business function and sector that allow anyone in a company to create intelligent workflows and combine the data over any system with clicks, not code.
Nov-2020: IBM Introduced a series of data and automation updates to its hybrid cloud software portfolio. The new updates are added to IBM Cloud Pak for Data and Cloud Pak for Automation that combines data and AI capabilities, which operates on Red Hat OpenShift and are developed to enhance the management and automation data-intensive processes that fuse the intelligence of Watson AI in hybrid cloud environments.
Nov-2020: Pegasystems unveiled Pega RPA Auto-balancing, the industry’s first Robotic Process Automation. It features artificial intelligence to develop the capacity and effectiveness of bot resources as required with no outside human intervention.
May-2020: Pegasystems introduced its all-new Pega Academy. It is a tool developed to assist customers and partners fastly gain and enhance Pega software skills. Any user whether total beginners or more advanced Lead System Architects can learn, extend and refresh important Pega skills to assist their businesses to gain true digital transformation.
Apr-2020: Nintex introduced advancements in its cloud-first process automation solution, Nintex Workflow Cloud. It includes the market’s first offering and the ability for users to faster and easier manages the workflows including the robotic process automation (RPA) bots. The new feature in Nintex Workflow Cloud, called Nintex Gateway, offers two-way, drag-and-drop interaction between workflows and bots.
Mar-2020: Appian released the latest version of the Appian Low-code Automation Platform. This version offers material business impact with united, flexible, and quick enterprise automation. The company leads the process automation around the enterprise at the minimum Total Cost of Ownership.
Oct-2019: Software AG released webMethods.io B2B, the latest addition to the company’s industry-leading B2B Integration portfolio. This solution allows customers to rapidly onboard partners and exchange documents utilizing traditional EDI or the latest API-based standards. Through this solution, Customers could make sure the timely and precise transaction of daily, important business documents and also simplifying their supply chain, boosting order-to-cash and rising customer satisfaction.
Sep-2019: Nintex unveiled Nintex Workflow Generator. It allows company customers to quickly make sophisticated workflows by utilizing the cloud-based visual process mapping capability, Nintex Promapp. Nintex Workflow Generator needs no coding and is a powerful latest onramp to the automation offerings of the Nintex Process Platform. It also consists of a new feature, which is currently available to users and partners with subscriptions to Nintex Promapp and Nintex Workflow Cloud.
Sep-2019: Salesforce released Manufacturing Cloud, a new industry-specific product for manufacturers. This launch brought sales and operations teams together around a united look of the market and user demands to more precise estimates, plan, and lead the predictable business performance. Companies can better fulfill their commitments and operate the more simplified business and also enhancing customer satisfaction by using the solution.
Mar-2019: Oracle expanded the artificial intelligence (AI) offerings within Oracle Enterprise Resource Planning (ERP) Cloud and Oracle Enterprise Performance Management (EPM) Cloud. The machine learning-based innovations consist of an expense reporting assistant, advanced financial controls, project management digital assistant, and project-driven supply chain management.
Scope of the Study
Market Segments covered in the Report:
• Platforms (Without Services)
By Business Function
• Sales & Marketing Automation
• Supply Chain Automation
• Human Resource Automation
• Accounting & Finance Automation
• Customer Service Support Automation
By Deployment Type
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises
By End User
• Retail & Consumer Goods
• Telecom & IT
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• Oracle Corporation
• Software AG
• Salesforce.com, Inc.
• Microsoft Corporation
• Appian Corporation
• Pegasystems, Inc.
• DXC Technology Company
• Nintex, Inc.
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