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Global Smart Process Application Market Forecasts Dynamic Growth and Increased Demand Through 2033 | Seimens AG, Capgemini SE, Adobe Inc., Infosys Limited, Atos SE
Smart Process Application Market Analysis
The smart process application market size is expected to see rapid growth in the next few years. It will grow to $97.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to rising demand for better process management, rising adoption of cloud computing, growing demand for real-time analytics, rising demand for mobile spas. Major trends in the forecast period include innovative smart process application solutions, low-code and no-code development, intelligent process automation (ipa), iot integration.
Market Overview -
Smart process applications refer to software solutions that combine process automation, data integration, user experience design and often elements of artificial intelligence to streamline and enhance business processes. These applications are designed to improve operational efficiency, enable better decision-making and provide a seamless experience for users, both within the organization and externally, with customers, partners, or vendors.
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Remote Working Revolutionizes Smart Process Application Market Growth
Adopting remote working significantly contributes to the growth of the smart process application market going forward. Remote working refers to a professional setting where employees are permitted to work from home or any other place other than the actual office of their employer. Smart process applications assist workers in remote work settings to record incoming paperwork, forms and faxes relating to corporate operations while enabling multi-channel information output. For instance, in February 2022, according to AT&T, a US-based telecommunications company, the percentage of companies adopting a hybrid work model where workers will do both remote work and work from the office is projected to increase from 42% in 2021 to 81% in 2024. Therefore, adopting remote working will drive the smart process application market.
Competitive Landscape -
Major players in the smart process application market are Microsoft Corporation, Dell Technologies Inc., Seimens AG, International Business Machines Corporation, Oracle Corporation, SAP SE, Fujitsu Limited, Salesforce.com Inc., Capgemini SE, Tata Consultancy Services Limited, Cognizant Technology Solutions Corporation, Adobe Inc., Infosys Limited, Atos SE, Wipro Limited, Tech Mahindra Limited, Genpact Limited, Lexmark International Inc., Open Text Corporation, Infor Global Solutions Inc., TIBCO Software Inc., Pegasystems Inc., Blue Yonder Inc., Software AG, Verint Systems Inc., Kofax Inc., Appian Corporation, HCL Technologies Limited.
Leading Companies Embrace Low-Code Design For Enterprise-Scale Applications In The Smart Process Application Market
Major companies operating in the smart process application market are focusing on low-code design for enterprise-scale applications. Low code automation is a process that uses low-code tools to create and deploy business applications. For instance, in March 2023, Appian Corporation, a US-based software company, introduced the latest version of its Process Automation Platform, featuring improvements in total experience, data fabric, automation and process mining, all powered by Appian's robust low-code design. The update enhances Appian Portals for smoother business-to-business and business-to-consumer interactions, allowing the initiation of process automations directly from the Portal interface. Users can also access and display data from Appian's data fabric within portals with simplified querying.
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Key Segments -
The smart process application market covered in this report is segmented -
1) By Type: Software; Services
2) By Solution: Customer Experience Management; Enterprise Content Management; Enterprise Mobility; Business Intelligence And Analytics; Business Process Management; Other Solutions
3) By Deployment: On-Premise; Cloud
4) By Vertical: Banking, Financial Services and Insurance (BFSI); Telecommunications And Information Technology (IT); Media And Entertainment; Manufacturing; Retail; Healthcare; Education; Transportation And Logistics; Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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