Business Process Automation Market Report: Size, Share, Growth, Trends, Demand, Insights And Forecast Up To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Business Process Automation Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The business process automation market size has grown rapidly in recent years. It will grow from $13.58 billion in 2023 to $15.2 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to efficiency and cost savings, compliance requirements, legacy system integration, scalability demands, data analytics.

The business process automation market size is expected to see rapid growth in the next few years. It will grow to $25.23 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to remote work enablement, customer experience focus, cybersecurity integration, customization and flexibility. Major trends in the forecast period include technology advancements, hyperautomation, focus on customer experience, low-code and no-code platforms, intelligent document processing.

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Key Market Players:
Major companies operating in the business process automation market report are Microsoft Corporation, Bizagi Limited, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., ServiceNow Inc., OpenText Corporation, Red Hat Inc., Pegasystems Inc., Software AG, UiPath Inc., Celonis SE, OutSystems Inc., Appian Corporation, Automation Anywhere Inc., Kofax Inc., MuleSoft LLC, Mendix a Siemens business, Blue Prism Group plc, Signavio GmbH, Kryon Systems Ltd., Laserfiche, Nintex Inc., ProcessMaker Inc., Camunda, Thoughtonomy Ltd., WorkFusion Inc., Bonitasoft SA, AuraQuantic, Jacada Ltd.

Market Drivers:
An increase in customer face time and customer experience is expected to propel the growth of the business process automation market. Customer face time is an important metric that includes any time spent talking with customers. Customer experience refers to the overall perception that customers have of your brand during the entire buyer's journey. Software for business process automation puts the customer experience first. Data cleaning, programmable automation, and reporting are features that guarantee efficient transactions, prompt responses, and individualized care. For instance, in April 2022, according to Emplifi Czech Republic-based company that specialized in AI-powered social marketing, 25% of businesses anticipate combining marketing, sales, and customer experience (CX) into a single department by 2023. A customer care officer, customer care officer, or executives with similar responsibilities are now employed by over 90% of businesses. 52% of consumers want a response from a business within an hour, and 75% of consumers believe it is crucial for firms to provide them with a fully self-service customer care option. 39% said they had to wait longer than two hours for a response. An increase in customer face time and customer experience is driving the business process automation growth.

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The business process automation market covered in this report is segmented -
1) By Component: Platforms, Services
2) By Deployment Type: Cloud, On Premises
3) By Organization Size: Large Enterprises, SME's
4) By Function: Human Resource Automation, Supply Chain Automation, Sales And Marketing Automation, Accounting And Finance Automation, Customer Service Support Automation
5) By Vertical: BFSI, Manufacturing, IT, Telecommunications, Retail And Consumer Goods, Healthcare

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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