The Business Process Automation (BPA) Market is anticipated to grow at a robust 11.9% CAGR during the assessment period, surpassing US$ 37.3 Bn in 2032.
Managing business workflows and optimizing business processes are key developments in business process automation. This entails better business processes and application integration as well as the growing use of cloud-based BPM tools. Business process management (BPM) has been increasingly important in assisting firms in gaining a competitive advantage as the level of automation in businesses has increased.
Rapidly developing frameworks and advanced technology have made it possible for enterprises to automate their business processes. Businesses are becoming more interested in BPM in tandem with the growth of digitalization, globalization, and industry digitization.
BPM is now more widely available to businesses of all sizes because of the adoption of cloud-based business process automation technologies. High scalability, quicker rollouts to satisfy the demand for service delivery, continuous availability 24 hours a day, seven days a week, and minimal operational costs are some of the key characteristics of cloud-based BPA software.
- The cloud-based BPA software segment is predicted to have the largest proportion of the worldwide business process automation market by deployment type.
- Through the projected period, the on-premise BPA software category is anticipated to expand at a strong CAGR of 7.3%.
- The large enterprise segment is anticipated to expand by 2.8X throughout the projected period among enterprise sizes.
- Between 2022 and 2032, the BFSI industry segment is expected to experience the greatest CAGR of 14.5%, followed by the IT & Telecom sector.
- In 2022, North America is anticipated to overtake Europe as the global leader in business process automation.
- The region with the fastest growth is predicted to be South Asia and the Pacific.
- Through 2032, the market in the US is anticipated to grow at a CAGR of about 10.9%.