Selbyville, Delaware, Nov. 25, 2024 (GLOBE NEWSWIRE) --
The workflow automation market valuation is predicted to exceed USD 46.8 billion by 2032, reported in a research analysis by Global Market Insights Inc.
This workflow automation market growth is driven by the increasing adoption of digital transformation initiatives across various industries. Automation is becoming essential for businesses as it significantly reduces manual work, minimizes errors, and improves overall efficiency. These benefits are particularly critical in sectors like manufacturing, logistics, and finance, where operational efficiency directly impacts profitability. By automating workflows, companies can free employees to focus on more valuable tasks, thus enhancing resource allocation and workforce productivity.
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In terms of end-users, the workflow automation market includes sectors such as BFSI, healthcare, retail, IT & telecom, manufacturing, transportation & logistics, government & defense, and others. In 2023, the BFSI segment held approximately 24% of the market share. Automation is particularly beneficial for the financial sector, helping institutions adhere to strict regulatory compliance while reducing manual errors and enhancing reporting accuracy. With the integration of advanced analytics, automation tools in the BFSI sector can quickly analyze large volumes of transaction data, enabling timely responses to potential fraud.
The market is segmented by organization size, with large enterprises dominating over 65% of the market share in 2023. This segment is projected to surpass USD 25 billion by 2032. Large organizations, which often manage complex workflows across multiple departments, rely heavily on automation to streamline operations, improve coordination, and maintain compliance. Automation helps reduce costs by decreasing manual labor, minimizing errors, and optimizing resources. It also provides scalability, enabling these enterprises to manage growing operational demands efficiently.
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North America workflow automation market accounted for over 35% share in 2023 and is estimated to reach around USD 15 billion by 2032. The region's rapid technological advancements in software and IT have fueled the adoption of automation solutions. Businesses across various sectors, including healthcare, finance, and manufacturing, are increasingly leveraging AI and machine learning to streamline operations and improve efficiency, all while reducing costs and optimizing performance.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360o synopsis, 2021 - 2032
Chapter 3 Workflow Automation Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Software providers
3.2.2 Cloud service providers
3.2.3 System integrators
3.2.4 End-users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Case Studies
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing adoption of digital solutions to streamline business operations
3.8.1.2 Growing adoption of workflow automation software among SME
3.8.1.3 Rapid growth in cloud-based automation platforms
3.8.1.4 Growth of Robotic Process Automation (RPA) and AI integration
3.8.2 Industry pitfalls & challenges
3.8.2.1 High implementation costs
3.8.2.2 Complexity and lack of skilled workforce
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
