Workflow Automation Market Size

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.

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.