The revenue from the workflow content automation (WCA) market was US$ 940.0 Million globally in 2021. The market is anticipated to increase at a CAGR of 15.3% from 2022 to 2032, reaching around US$ 4,454.2 Million.
Surging demand for digitalization in business operations and urgent need for the removal of time-consuming tasks with automation are expected to drive growth in the workflow content automation market in the coming decade.
The market for workflow content automation is anticipated to be driven by growing digital transformation initiatives for performance enhancements, cost-efficiency, and speedier performance, which will also create lucrative growth prospects for many vendors.
WCA solutions aid with digital transformation by optimising workflows, enhancing productivity & efficiency for documentation processes, improving customer experience, and accelerating organisational growth.
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Key Takeaways: Workflow Content Automation Market
- By solution, the services segment is estimated to grow at a robust CAGR of 13.4% through 2032.
- Based on enterprise size, the SMEs segment is estimated to grow by 5.2x during the forecast period.
- By industry, the IT & telecom segment is anticipated to increase at a CAGR of 19.0% between 2022 and 2032.
- The U.S. workflow content automation market is expected to progress at a CAGR of around 11.3% through 2032.
- In India, the workflow content automation market is likely to grow by 7.7x during the forecast period.
- The workflow content automation market in China is estimated to create an absolute dollar opportunity of US$ 290.0 Million in the forecast period.
Rising Adoption of WCA for Easing Compliance and Enhancing Security to Drive Growth
One of the main factors driving the global market is the increasing acceptance of workflow content automation solutions for the scalability of the systems to which it is applied. Due to their capacity to simplify compliance and improve security, many firms are anticipated to employ workflow content automation platforms during the evaluation phase.
WCA also aids in cybersecurity and compliance for automation and digital transformation, especially in areas where they are updated often. Important data-intensive tasks that must be automated in order to maintain compliance make these procedures simple and efficient, which will drive demand during the evaluation period.
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Competitive Landscape
Workflow content automation businesses are emphasizing on enterprise partnerships, collaborations, and product innovations for expanding their geographic footprint, strengthening market positions, increasing sales, and maintaining a strong foothold in the competitive market.
For instance,
- In March 2022, Smart Communications announced its partnership with Duck Creek Technologies. The partnership would enable leading insurers to deliver digital-first conversational experiences to their customers. Organizations will be able to streamline processes and enable agents & underwriters to work in a more efficient way.
- In September 2021, MHC announced the introduction of an enterprise workflow and content automation platform named MHC NorthStar. This cloud-native platform is perfect for an end-to-end process which involves communications and documents that are core to operations.
Workflow Content Automation (WCA) Market Outlook By Category
By Solution:
- Workflow Content Automation Platform
- Cloud-Based
- On-Premises
- Services
- Professional Services
- Managed Services
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- Transportation & Logistics
- IT & Telecom
- Retail
- Manufacturing
- Government
- Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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