Workflow Automation Market Analysis

End-user (Banking, Telecom, Retail, Manufacturing & Logistics, Healthcare & Pharmaceuticals, Energy & Utilities)

The global workflow automation market is segmented and analyzed for demand and supply by end-user industry into banking, telecom, retail, manufacturing & logistics, healthcare & pharmaceuticals, and energy & utilities. Out of which, the banking segment is anticipated to garner the highest revenue by the end of 2037. With numerous front- and back-end procedures, the banking and financial services sector offers multifaceted services. For a seamless customer experience, a number of banking operations, including account opening, accounts payable, closure procedure, credit card processing, and loan processing, could be efficiently automated. For instance, about 76 percent of individuals worldwide now have accounts, including 71 percent of residents of developing nations. Moreover, approximately 40% of adults in developing economies, excluding China, who decided to make a digital vendor payment using a card, phone, or the internet, and more than one-third of adults in emerging economies who paid a utility bill straight from an account, did so for the initial time just after beginning of the pandemic. COVID-19 accelerated the adoption of digital financial services. Hence, the demand for workflow automation is estimated to increase in the banking sector. Automation of banking processes leads to increased productivity, better client engagement, and cost savings.

Deployment (Cloud, On-Premise)

The global workflow automation market is also segmented and analyzed for demand and supply by deployment into cloud, and on-premise. Amongst which, the cloud segment is anticipated to have a significant growth over the forecast period. The growth of the segment can be attributed to growing adoption of cloud by organization along with growing number of people working from home. Cloud based workflow automation helps employees to stay connected over distance, share files and also complete task efficiently. Additionally, it records work accomplished, making it simpler to review statistics and reports as needed to increase overall effectiveness. Moreover, growing shift to the digital era the demand for cloud services is growing, which is also estimated to boost the growth of the segment, further boosting the market growth.

Our in-depth analysis of the global workflow automation market includes the following segments: