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Form Automation Software Market Size, Share, Growth & Trends 2024-2033 | Outlook & Key Players
Form Automation Software Market Size
According to The Business Research Company's, The form automation software market size has grown exponentially in recent years. It will grow from $14.00 billion in 2023 to $16.94 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to increased need for efficiency, rise in demand for digital transformation, growth in volume of paperwork, cost reduction initiatives, and emergence of robotic process automation (RPA).
The form automation software market size is expected to see exponential growth in the next few years. It will grow to $36.59 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to enhanced security features, customizable workflow automation, focus on user experience (UX), interoperability with other software systems, and industry-specific solutions development. Major trends in the forecast period include blockchain integration for data security, shift towards low-code or no-code platforms, artificial intelligence (AI)-driven automation, adoption of hybrid cloud solutions, and rise of intelligent document processing (IDP).
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Market Drivers and Trends:
The increasing adoption of cloud computing is expected to drive the form automation market going forward. Cloud-based services refer to the delivery of computing resources and applications over the Internet, allowing users to access and utilize them remotely without the need for extensive hardware or infrastructure on their premises. The increasing adoption of cloud computing can be attributed to factors such as scalability, cost-effectiveness, improved collaboration, enhanced flexibility, and the growing demand for remote access to data and applications. Form automation software facilitates the seamless transition of traditionally paper-based processes to digital platforms, thereby streamlining workflows, enhancing efficiency, and encouraging the utilization of cloud-based computing by reducing reliance on physical infrastructure and enabling easier integration with cloud platforms. For instance, in December 2023, according to the statistics published by Eurostat, a Luxembourg-based statistical office of the European Union, the share of enterprises buying cloud computing services in the EU increased by 4.2% points from 2021 to 2023, with 42.5% of them opting for these services, primarily for e-mail, file storage, and office software. Therefore, the increasing adoption of cloud computing is driving the growth of the form automation market.
Major companies operating in the form automation software market are increasing their focus on developing advanced solutions, such as online forms and workflow automation solutions, to enable efficient data collection and lead generation. Online forms and workflow automation solutions refer to software platforms designed to streamline the creation, management, and processing of digital forms, as well as automate associated workflows and tasks. For instance, in September 2023, Jotform Inc., a US-based online form builder company, launched Jotform for Salesforce on Salesforce AppExchange. This platform offers integrated, powerful form automation, a no-code form builder, an e-signature tool, a mobile app builder, approval workflows, an automated report generator, Salesforce integration, and object mapping. This advancement signifies a significant technological leap in form automation software, providing seamless integration with Salesforce, versatile solutions for various industries, enhanced efficiency, and user-friendly tools, thereby driving innovation and adoption in the market.
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Major Key Players of the Market:
Microsoft Corporation, IBM Corporation, Adobe Inc., Rockwell Automation Inc., OpenText Corporation, Zoho Corporation Pvt. Ltd., Monday.com, Nintex Group Limited, KiSSFLOW, JotForm Inc., FormStack LLC, ProcessMaker, K2 Software Inc., GoCanvas, GoSpotCheck, ProntoForms Corporation, Pardot LLC, Process flows, GoFormz, Cognito LLC, Forms On Fire Inc., Kizeo SAS, Device Magic, iFormBuilder, PaperForm, PerfectApps Inc., Capptions.com
Form Automation Software Market 2024 Key Insights:
• The form automation software market size is expected to see exponential growth in the next few years. It will grow to $36.59 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%.
• Rising Adoption Of Cloud Computing Driving The Form Automation Market
• Technological Advancements In The Form Automation Software Market
• North America was the largest region in the form automation software market in 2023
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