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Workflow Automation Market Share

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

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Workflow Automation Market Share

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

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.