Workflow automation Market Competitive Strategy Analysis By Bizagi, Oracle Corporation, Nintex Global Limited, Pegasystems, Newgen Software Technologies

Market Overview:
Global Workflow Automation Market is accounted for $5.22 billion in 2017 and is expected to reach $29.80 billion by 2026 growing at a CAGR of 21.4% from 2017 to 2026. Ease in business processes, focus on streamlining business processes and increased focus on digital transformation initiatives are some of the key factors driving the market growth. However, factors such as data insecurity in financial sector are restricting the market growth.

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Workflow automation is an easy way to streamline manual and paper-based processes often comprised of unstructured tasks involving people, processes, and content. Workflow and Content Automation represents the consolidation of traditional workflow and content generation into a new category to support the needs of a digital business. It’s about improving processes from the everyday to the elaborate. It’s about working with content no matter what or where it is, and routing it to the right recipients in the best way for them to use it. It’s about straightforward processes. Workflow and content automation is a category unto itself.

Top Players:
Some of the key players in Workflow Automation market include Bizagi, Oracle Corporation, Nintex Global Limited, Pegasystems Inc., Newgen Software Technologies Limited, Xerox Corporation, Software AG, Appian, IBM Corporation, Ipsoft, Inc., Sourcecode Technology Holdings, Inc., Opentext Corp., Thoughtonomy Ltd., Uipath SRL and Tibco Software Inc.

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Market Segments:
Amongst end user, BFSI is expected to have considerable market share. Processes such as data entry for clearance and registration processes, updating systems and producing client information, gathering information from various systems and generating a renewal premium, processes such as order-to-cash, conduct compliance, legal and credit checks, and claims processing and general data entry are done by workflow automation in the insurance and banking sectors to facilitate monotonous and time-consuming processes. The North America dominated the market to account for the largest share of the overall market. BFSI; telecom and IT; and travel, hospitality, and transportation industries in the US, Canada, and Mexico are adopting workflow automation for diverse functions to better manage business processes.

Processes Covered:
• Decision Support and Management Solution
• Automated Solution
• Interaction Solution
Deployments Covered:
• Cloud-Based
• On-Premise
Offerings Covered:
• Services
• Software
Operations Covered:
• Knowledge Based
• Robotic Process Automation Based
• Rule Based
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
End Users Covered:
• Travel, Hospitality, & Transportation Industry
• Healthcare & Pharmaceuticals
• Banking, Financial Services, & Insurance
• Energy & Utilities
• Telecom & IT Industry
• Retail & Consumer Goods
• Manufacturing & Logistics Industry
• Other End Users

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This release was published on openPR.