Business Document Work Process Management Market Share

North America Market Statistics

North America in business document work process management market is set to capture over 34.3% revenue share by 2037. The market growth can be credited to the rapid adoption of advanced technologies coupled with the presence of major key players such as Appian Corporation, Genpact, and International Business Machine Corporation.

In the U.S. the demand for business document work process management market has increased due to the growing need for improved methods of archiving electronic records for compliance, legal, and regulatory purposes and to enable continuing corporate operations. According to the Office of the National Coordinator for Health IT, nearly 90% of office-based physicians in the United States as of 2021 had implemented an electronic health record (EHR). Therefore, the surging adoption of electronic records in the healthcare industry is also boosting the business document work process management market growth in the nation.

The growing popularity of remote work in Canada has increased the need for cloud-based document management systems to guarantee convenient document access from any location. Also, major players are providing services and expanding their business in the region which is escalating the business document work process management market growth. For Instance, in October 2021, Revver revealed a new regional point of presence (PoP) as part of its worldwide expansion of PoPs to cater to growing client demand for its powerful platform for workflow automation and document management.

APAC Market Analysis

Asia Pacific will encounter huge growth in the business document work process management market during the forecast period. The rapid shift towards digitalization in India is one of the major factors accelerating the business document work process management market in the country. Digitalization streamlines operations minimizes the need for physical storage, improves data security, and makes remote access and collaboration easier. According to the IBEF, the technology sector in India has generated more than USD 250 billion in revenue to date, and it is expected to grow at a moderate rate of 3.8% to reach USD 253.9 billion by March when the fiscal year 2023-24 ends.

China is emerging as the global hub for manufacturing, which has aided in the region's industrial industries' adoption of BPM and spurred growth. According to the Trading Economies, in July 2024, China's industrial production increased by 5.1% yearly.

Government agencies in South Korea have been adopting BPM at a high rate, and this trend is anticipated to continue in the years to come. They are using business document work process management market in several important areas, such as improving public services, streamlining daily tasks, monitoring and auditing vital processes, and modernizing procedures to comply with new legal requirements.