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Workflow Automation Market Size - By Component, By Deployment Model, By Organization Size, By Application, By End-user, Forecast, 2024 - 2032

  • Report ID: GMI11784
  • Published Date: Oct 2024
  • Report Format: PDF

Workflow Automation Market Size

The global workflow automation market size was valued at USD 20.3 billion in 2023 and is projected to grow at a CAGR of 10.1% between 2024 and 2032. The growth of the market can be attributed to the growing digital transformation initiatives among businesses across various industry verticals. According to Statista, the global spending on digital transformation spending on digital transformation reached USD 1.85 trillion in 2022.
 

workflow automation market

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Furthermore, over 905 of organizations across the globe has implemented cloud technologies as of 2023, making it the most adopted emerging technology, with global public cloud spending estimated to have exceed USD 560 billion. Workflow automation is a major role in these initiatives, helping companies to streamline operations, reduce manual errors, and improve efficiency. Automation helps organizations to optimize processes such as invoice processing, customer support, and employee onboarding.
 

Automation helps companies cut costs by reducing manual work, minimizing errors, and improving efficiency. This is especially important in manufacturing, logistics, and BFSI, where efficiency affects profits of the organizations. Automated workflows allow employees to focus on more valuable tasks, improving resource use and workforce effectiveness. Companies operating in the market are forming partnerships to help more businesses to rapidly automate their workflows.
 

For instance, in August 2023, Creatio, a global provider of no-code platforms for workflow automation and CRM, partnered with Nityo Infotech Corporation. The partnership combined strengths of both companies to deliver modern automation tools to organizations that helps them grow. This partnership enhances Nityo Infotech’s expertise with Creatio's platform, enabling more organizations worldwide to quickly automate workflows and improve customer engagement.
 

Workflow Automation Market Trends

AI and Machine Learning (ML) are transforming workflow automation systems by adding intelligence, flexibility, and predictive capabilities to business processes. This integration creates efficient workflows, enhancing decision-making and operational efficiency across various industries. AI-powered automation routes tasks to the right personnel or systems based on rules or real-time analysis, eliminating manual intervention and reducing delays.
 

In the BFSI sector, this means customer requests , compliance checks and loan applications are quickly directed to the appropriate teams. Furthermore, ML models analyze historical data to forecast trends, providing predictive insights for better decision-making. In telecom, predictive analytics helps anticipate network issues and customer service demands, allowing proactive measures.
 

Companies operating in the market are launching innovative workflow automation solutions improve operational efficiency and speed-up collaboration across teams. For instance, in October 2024, Impartner launched Orchestration Studio, a new tool designed to improve data integration and workflow automation. It acts as a central hub for partner ecosystems, making workflows simpler and ensuring smooth data flow across different technologies.
 

As businesses focus more on efficiency and connectivity, orchestration studio helps users combine data from multiple systems without needing coding skills. This no-code platform uses an advanced logic and control engine to integrate systems, creating a unified ecosystem for partners. Its visual flow designer makes it easy to create and manage complex data integrations, providing real-time data access and better system functionality.
 

Workflow automation save money and improve efficiency in the long run, but the initial costs of implementation can be very high, especially for smaller businesses. Setting up automation systems requires buying new software and hardware and training staff to use these tools. Also, creating complex workflows needs skilled workers, which can increase hiring or outsourcing costs.
 

Integrating automation tools with old systems can be technically difficult and take a lot of time. Companies with outdated infrastructure may struggle to make their systems work with modern automation platforms. These issues can delay implementation, lower the return on investment (ROI), and slow down adoption in some markets.
 

Workflow Automation Market Analysis

Workflow Automation Market, By Organization Size, 2021 – 2032, (USD Billion)
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Based on organization size, the market is segmented into large enterprises and SME. In 2023, the large enterprises segment accounted for over 65% of the workflow automation market share and is expected to exceed USD 25 billion by 2032. Large companies often deal with complex workflows across multiple departments, making automation crucial for better coordination and efficiency.
 

Automation tools help these organizations manage many tasks effectively while ensuring compliance and helps the company in reducing costs by cutting manual labor, minimizing human error, and optimizing resources. Workflow automation also offers scalability, allowing large companies to handle growing operational demands. This flexibility is essential for staying competitive in the growing and rapidly evolving market.
 

Workflow Automation Market Share, By End-User, 2023
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Based on end-user, the workflow automation market is divided into BFSI, healthcare, retail , IT & telecom, manufacturing, transporation and logistics, government & defense and others. The BFSI segment held around 24% of the market share in 2023. The BFSI sector has strict regulations that require compliance. Automation solutions help streamline these compliance processes, reduce manual errors, and ensure accurate reporting, which lowers legal risks.
 

Automation tools equipped with advanced analytics can analyze large amounts of transaction data in real-time, allowing banks and financial institutions to quickly identify and respond to fraud. Furthermore, workflow automation speeds up loan processing, account openings, and customer queries, improving the customer experience. Automated chatbots and self-service portals provide 24/7 assistance, boosting customer satisfaction.
 

U.S. Workflow Automation Market Size, 2021 -2032, (USD Billion)
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North America region accounted for an workflow automation market share of over 35% in 2023 and is expected to reach around USD 15 billion by 2032. In North America, rapid tech innovations in software and IT are driving businesses to adopt advanced automation tools. Companies in the region are using AI and machine learning to improve efficiency and streamline operations. Organizations across various sectors, including healthcare, finance, and manufacturing, are focusing on improving operational efficiencies to reduce costs.
 

Workflow automation is seen as a major strategy to minimize manual processes, enhance productivity, and respond quickly to market changes. In the U.S., industries such as healthcare and finance face strict regulations. Workflow automation ensures accurate reporting and data integrity, reducing the risk of penalties and fines.
 

European businesses are investing more in digital transformation to stay competitive. Automation technologies are key to optimizing workflows and improving service delivery. Many European companies are also aligning with sustainability goals to reduce waste and improve efficiency.  Workflow automation supports these initiatives by improving resource use and enhancing operational practices, contributing to corporate sustainability objectives.
 

The Asia Pacific region is experiencing rapid economic growth, increasing the demand for automation solutions across various industries. As businesses grow and operations become more complex, workflow automation is essential for maintaining competitiveness and efficiency. Many governments across Asia Pacific are promoting automation as part of their economic development strategies. They offer incentives and support for adopting technology-driven solutions, encouraging organizations to implement workflow automation to boost productivity and economic resilience.
 

Workflow Automation Market Share

Workflow Automation Company Market Share, 2023

IBM Corporation and Oracle Corporation collectively held a market share of over 15% in the workflow automation industry in 2023. IBM uses its Watson AI to improve workflow automation. By combining AI and machine learning, the company helps organizations streamline processes, predict results, and make better decisions. The company also customizes its automation tools for different industries, such as healthcare, finance, and manufacturing. This industry-specific approach helps IBM meet unique challenges and compliance needs, increasing its adoption among enterprise customers.
 

Oracle offers a strong set of cloud-based applications that feature workflow automation. Oracle Cloud Applications provide integrated solutions that simplify business processes and improve teamwork across departments. This cloud-first strategy helps Oracle gain market share by offering flexible and scalable solutions to businesses of all sizes.
 

Workflow Automation Market Companies

Major players operating in the workflow automation industry are:

  • Amazon Web Services (AWS)
  • Blue Prism Group plc
  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Pegasystems Inc.
  • SAP SE
  • TIBCO Software Inc.
  • Xerox Corporation
  • Zoho Corporation
     

Workflow Automation Industry News

  • In July 2024, Zoom launched Workflow Automation, a no-code tool to improve efficiency and cut down on routine tasks. This feature allows users create complex workflows that connect Zoom Workplace with third-party apps. Initially, the new will work with Zoom Team Chat but later will cover the entire Zoom Workplace platform.
     
  • In May 2024, Alation, Inc., a data intelligence company, launched Alation Workflow Automation. This tool helps data stewards manage the complex data governance needs of large enterprises. Using Alation Automation Bots, it automates manual and repetitive tasks, improving workflow efficiency. The bots check for missing security classifications, titles, and terms, prompting data stewards to take action.
     

The  workflow automation market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) from 2021 to 2032, for the following segments:

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Market, By Component

  • Software
    • Robotic Process Automation (RPA)
    • Business Process Management (BPM)
    • AI-Driven automation
    • Document automation
    • Enterprise Content Management (ECM)
    • CRM automation
  • Services
    • Implementation and integration
    • Consulting
    • Support and maintenance
    • Training and education

Market, By Deployment Model

  • On-premises
  • Cloud

Market, By Organization Size

  • Large enterprises
  • SME

Market, By Application

  • Human resources
  • Finance and accounting
  • Sales and marketing
  • Customer service
  • Operations
  • IT
  • Others

Market, By End-User

  • BFSI
  • IT and telecom
  • Healthcare
  • Manufacturing
  • Retail
  • Transportation and logistics
  • Government and defense
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Nordics
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of workflow automation reached USD 20.3 billion in 2023 and is projected to grow at a 10.1% CAGR from 2024 to 2032, driven by increasing digital transformation initiatives across various industries.
The large enterprises segment accounted for over 65% of the market share in 2023 and is expected to exceed USD 25 billion by 2032, as these companies require automation for better coordination and efficiency across complex workflows.
The BFSI sector held around 24% of the market share in 2023, as automation solutions help streamline compliance processes, reduce manual errors, and ensure accurate reporting.
The North America workflow automation market accounted for over 35% of the market share in 2023 and is expected to reach around USD 15 billion by 2032, driven by rapid technological innovations in software and IT.

Workflow Automation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 280
  • Countries covered: 21
  • Pages: 120
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