The revenue of the business process automation (BPA) market is expected to increase by USD 13.7 billion by 2023. The business process automation (BPA) market is estimated to reach USD 41.8 billion by 2033, increasing at an 11.8% CAGR from 2023 to 2033.
Managing business workflows and optimizing business processes are two key topics in business process automation. This involves better integration of various business processes and systems, as well as the growing use of cloud-based BPM solutions. Business process management (BPM) has been increasingly important in assisting firms in gaining a competitive advantage as automation levels in enterprises have increased.
Advanced technologies and frameworks are rapidly emerging to enable enterprises to automate their business activities. Businesses’ interest in BPM is expanding in tandem with the development in digitalization, globalization, and digitization of industries.
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Cloud-based business process automation technologies have made BPM more accessible to businesses of all sizes. Cloud-based BPA software’s key characteristics include high scalability, faster deployments to meet service delivery demand, 24×7 continuous availability, and reduced operational costs.
Key Takeaways from the Business Process Automation (BPA) Market Report:
- By deployment type, the cloud-based BPA software segment is anticipated to account for the leading share in the global business process automation market.
- On-premise BPA software segment is estimated to grow at a robust CAGR of 7.3% through the forecast period.
- Among the enterprise size, the large enterprise segment is estimated to grow by 2.8X during the forecast period.
- By industry, the BFSI industry segment is anticipated to grow at the highest CAGR of 14.5% from 2022 to 2032, followed by IT & Telecom industry.
- North America is expected to dominate the business process automation market followed by Europe in 2022.
- South Asia & Pacific region is estimated to be the fastest-growing region during the forecast period.
- The market in the U.S. is expected to progress at a CAGR of around 10.9% through 2032.
- In India, the business process automation market is expected to grow by 4.4x during the forecast period.
- The business process automation market in East Asia is estimated to witness an absolute $ opportunity of US$ 5,583.1 Million in the forecast period.
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Competitive Landscape
Market actors are prioritizing research and development efforts to support future technologies. Furthermore, numerous corporations are forging strategic alliances with other businesses to develop their own process automation to better serve customers.
- In February 2022, Laserfiche, a SaaS provider of intelligent content management and business process automation, and DoubleYard, Inc., a major player in the optical and image character recognition (OCR/ICR) market, announced a collaboration to develop and automate character recognition.
- In March 2021, Kissflow, a BPA Software firm, established a relationship with Redington, an Indian IT Supply Chain and Distribution Solution Provider, to enhance Kissflow’s NO-CODE platform’s reach in India.
- In July 2021, IBM acquired myInvenio to provide clients with data-driven solutions that can help them identify the most important business tasks to automate using AI, such as sales, procurement, production, and accounting.
Leading Key Players:
- TIBCO Software Inc
- OptimumHQ
- Microsoft
- Zoho Corporation Pvt
- Oracle
- Process Bliss
- Process Street
- Prophix
- Nintex United Kingdom Ltd
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Business Process Automation (BPA) Market Outlook By Category
By Deployment Mode:
- On-premise BPA Software
- Cloud-based BPA Software
By Enterprise Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- IT & Telecom
- Retail
- Government
- Healthcare
- BFSI
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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