Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Business Process Automation (BPA) is the automation of complex business processes and functions that go beyond the usual operations of data manipulation and record-keeping, usually using advanced technology. It focuses on "doing business" rather than "counting the business" and often deals with key processes based on event-driven, mission-critical, core processes. BPA helps organizations streamline processes such as employee integration, accounts payable, contract management, and others.
The business process automation market will continue to grow next upcoming year as more businesses around the world plan to migrate IT infrastructure to the cloud, improve business continuity and improvise business operations. While technology spending in the Asia-Pacific region has risen, regression due to the recent COVID-19 pandemic is imminent.
Covid19 drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. In the foreseeable future, the COVID-19 pandemic has accelerated the existing trend toward digital marketplaces. The COVID-19 outbreak has changed the dynamics of trade around the world. While the COVID-19 outbreak has exposed weak business models across all sectors, it has also provided BPA solution providers with more opportunities to expand their business across enterprises through the cloud in the lockdown. Automation solutions such as BPA are gaining traction in response to the need to improve business processes and save time and money.
The report analyses the business process automation market based on component, organization size, deployment type, business function, verticals, and geography.
By component, the global business process automation market is segmented into platform and services. Service segment again bifurcate into consulting, deployment and integration, and support and maintenance. Among these, support and maintenance segment hold the largest market share in the forecast period. The support and maintenances service provide a single point of contact to solve customer problems. Customer portals, customer forums, technical advice and software updates are some of the other help available to customers.
By organization size, the global business process automation market is segmented into small and medium-sized enterprises and large enterprises. Among these, large enterprises segment hold the largest market share due to the huge initial upfront costs and the need for manual intervention. Large enterprises adopt the BPA platforms due to privacy and security concerns related to confidential data.
The global business process automation by deployment type is classified into on-premise and cloud. On-premise segment is expected to highest contributed to the market growth. In the on-premise type, software or platforms are installed and managed from an internal server and the client's computing infrastructure. The cost of installing on-premises platforms is included in the capital expenditures (CAPEX) of the companies. This approach is mainly used for sensitive and sensitive data applications.
The global business process automation by business function is classified into human resource automation, supply chain automation, sales and marketing automation, accounting and finance automation, customer service support automation, and others.
The global business process automation by vertical is classified into BFSI, manufacturing, IT & telecommunications, retail and consumer goods, healthcare, and others.
Geographically, the Business Process Automation market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America region is expected to hold the largest market share of the business process automation market owing to advancements in technology in this region. In addition, Digital awareness and strong IT spending is expected to drive the business process automation market in the region.
Some of the major players operating in this market include FlowForma (Ireland), IBM (US), Pegasystems (US), DXC Technology (UK), Appian (US), Kissflow(India), Laserfiche (US), Nintex (US), Newgen Software (India), Oracle (US), Software AG (Germany), Salesforce (US) Microsoft (US) , Bizagi (UK), OpenText (Canada), TIBCO (US), Creatio (US), Genpact (US), Bonitasoft (France), Kofax (US), AuraQuantic (US), AgilePoint (US), Automation Hero (US), Quickbase (US).
The report analyses the business process automation market based on component, organization size, deployment type, business function, verticals, and geography. Business Process Automation component include platform and services. The major organization size of the market includes small and medium-sized enterprises and large enterprises. Business Process Automation deployment type includes on-premise and cloud. Business Process Automation business function includes human resource automation, supply chain automation, sales and marketing automation, accounting and finance automation, customer service support automation, and others. The major vertical of the market includes into bfsi, manufacturing, it, telecommunications, retail and consumer goods, healthcare, and others.
Some of the major players operating in the market include FlowForma, IBM, Pegasystems, DXC Technology, Appian, Kissflow, Laserfiche, Nintex, Newgen Software, Oracle, Software AG, Salesforce, Microsoft and others.
Geographically, the business process automation market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which include Latin America, and Middle East & Africa.
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