Business Process Automation Market Grows at a CAGR of 12.2% | Key player IBM, Pegasystems, Appian, Kissflow, Laserfiche

“IBM (US), Pegasystems (US), Appian (US), Kissflow (India), Laserfiche (US), Nintex (US), Oracle (US), Software AG (Germany), Salesforce (US) Microsoft (US), Bizagi (UK), OpenText (Canada), TIBCO (US), Creatio (US), Genpact (US), DXC Technology (UK), Newgen Software (India), Bonitasoft (France), Kofax (USA), FlowForma (Ireland), AuraQuantic (USA).

The global business process automation (BPA) market size is expected to grow from USD 9.8 billion in 2020 to USD 19.6 billion by 2026, at a compound annual growth rate (CAGR) of 12.2 % over the forecast period.

The Global business process automation market the size is expected to grow at a compound annual growth rate (CAGR) of 12.2% over the forecast period, reaching USD 19.6 billion by 2026, from USD 9.8 billion in 2020. automated IT, growing demand for streamlining communication between various business functions of organizations, and business agility are expected to drive the demand for BPA offerings across the globe. Additionally, BPA vendors offer innovative and affordable solutions to SMBs for automating and streamlining business processes, seamless onboarding, and improving compliance.

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The market is expected to be driven by optimizing the use of resources through automated business processes

The BPA platform automates repetitive manual processes and workflows. This allows users to automate their tasks and activities across a range of areas, including sales and marketing, HR integration, accounting, and customer support services, and provide integrations of different business systems. company for more flexibility and ease of use. BPA solutions enable organizations to significantly reduce the time and cost required to model and implement business processes, services and applications. The growing popularity of these solutions can be attributed to the growing need to streamline business flows, adapt business processes, and continually improve workflows to become more responsive to dynamic customer requirements. They improve operational performance by automating and standardizing activities within companies. They also offer efficient ways to connect heterogeneous systems within organizations, improve data quality and reduce data entry efforts through workflow automation. In addition, they reduce the time required to create and modify business rules.

Increased scalability and flexibility drives adoption of cloud-based deployment

SMBs are mostly moving towards adopting cloud type of deployment due to its major benefits such as lower costs, no manpower requirement for hardware maintenance, faster and efficient results, as well as complete flexibility and scalability, resulting in reduced operational expenses (OPEX) and CAPEX. Seamless flexibility and scalability allow customers to easily store and retrieve actionable information anytime, anywhere. The cloud-based type of deployment allows users to easily access BPA platforms from a remote location in real time. Cloud-based BPA platforms provide cost-saving benefits that improve business operational efficiency and reduce operational costs. Falling maintenance costs and shrinking labor are expected to drive the adoption of cloud-based BPA platforms across all verticals. During the COVID 19 crisis, the adoption of BPA solutions has increased significantly among SMBs around the world.

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The BPA market includes major vendors, such as IBM (US), Pegasystems (US), Appian (US), Kissflow (India), Laserfiche (US), Nintex (US) , Oracle (US), Software AG (Germany), Salesforce (US) Microsoft (US), Bizagi (UK), OpenText (Canada), TIBCO (US), Creatio (US) United States), Genpact (United States), DXC Technology (United Kingdom), Newgen Software (India), Bonitasoft (France), Kofax (United States), FlowForma (Ireland), AuraQuantic (United States), AgilePoint ( US), Automation Hero (US), Quickbase (US) and Cortex (UK). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as IBM, Appian, Pegasystems, Kissflow, and Laserfiche have mainly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and expand further in the market. BPA market.

IBM has worked hard to become an exclusive cloud provider. It is a leading provider of BPA solutions and services. It is primarily aimed at improving the experience of using technology for personal and business customers. The company aims to provide customers with cost-effective and convenient solution offerings integrated with the latest technology services. It has a strong presence in the BPA market, with robust solutions and services and a strong ecosystem of strategic partners. These strategic partners include Salesforce, AWS, and Red Hat. The company is focused on developing new and effective solutions and increasing its BPA service offerings. Its customer base is spread across several verticals, including manufacturing, IT, BFSI, and telecommunications. Its strong presence across the globe is one of the key factors for its high share in the BPA market. IBM has achieved growth in the global BPA market using both organic and inorganic growth strategies. Additionally, according to IBM’s COVID 19 and Future of Business report, the COVID-19 pandemic has accelerated digital transformation in 59% of organizations surveyed. The COVID-19 pandemic has accelerated digital transformation in 59% of organizations surveyed. The company continues to offer innovative solutions during the COVID 19 pandemic to enable businesses to continue operating.

Appian is a prominent player in the BPA market, as it offers strong BPA, RPA, and BPM offerings, such as solutions, products, and services. Currently, the company is focused on catering its customers with highly proficient RPA, BPM, and BPA technology products and services to compete. With the growing demand for digital transformation and business operations, automation solutions are gaining momentum and benefiting powerful players like Appian. The organization aims to provide innovative solutions and improved business operations, thereby satisfying its customers. The major factors responsible for major market shares are wide geographical reach, strong distribution channels, and enhanced BPA solution offerings. Appian constantly strives to be the premier provider of BPA solutions and products. The company’s growth strategies include both organic and inorganic strategies. Since 2017, it has been adopting inorganic growth strategies such as collaborations and strategic partnerships to expand its reach in the BPA market. Recently, Appian partnered with Accenture to offer government and public sector combined solutions to improve process automation. The company is focused on strengthening its organic growth strategies, such as constantly improving products and launching new products. These growth strategies have helped Appian maintain its position in the BPA market, while helping the company controversially deliver improved BPA solutions. Additionally, the company has taken initiatives in response to the COVID 19 crisis. It has created a free COVID-19 response management app for businesses and government agencies. It tracks health status, location, travel history and all details of the COVID-19 incident. The company has also designed a Workforce Safety solution, which helps comply with company policies and government regulations related to COVID, while keeping employee health information private and secure.

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