- Business process automation is mechanization of different tasks being implemented in industry verticals to ensure the smooth working of an enterprise.
- In other words, business process automation makes use of technology to automate repetitive, daily tasks. Business process automation accelerates the work done by communicating information at the right time to the right person through user-defined actions and rules. It helps organizations streamline processes such as accounts payable, contract management, employee onboarding, and more. Digitization is majorly focused on reducing the manual effort and simplifying the work with the help of machines and algorithms which is then implemented in business process automation.
- Business process automation deals with huge data as it has to perform various management activities. Business process automation solutions assist companies to secure, track control, and manage their engineering assets. Process intensive industries such as chemicals, and energy and mining have traditionally been involved by business process automation systems.
- Developments in the business process automation market come from implementation of SaaS solutions for digital transformation, and businesses transitioning to an entire computer-aided policy for workflows.
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Higher productivity achieved by business process automation driving the market
- Business process automation decreases increases operational productivities, creates cost savings, reduces wastage, and improves cross team relationships. Real time information and data administration also drives the market as it involves taking a business approach.
- Business process automation supports organizations to improve productivity, reduces replication and downtime, thus resulting in cost reduction thus resulting in the adoption of the business process automation solution. The business process mechanization also provides back-up and archival assistance for the data.
- Moreover, swift disaster recovery is also possible, that improves business continuity and leads to market growth. Intelligent and reliable collection of information makes the process easier. These are the driving factors of the business process automation market.
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Increasing adoption of Internet of Things (IOT) globally driving the business process automation market
- Internet of Things (IoT) and Big Data are flourishing at a substantial rate due to technological progress in several industry verticals. These developments are also implemented in high-end business processes and are thus positively impacting the business process automation market at a considerable rate. Analytics is used in business process automation for Natural Language Processing (NLP), Machine Learning (ML), Artificial Intelligence (AI), and face recognition. Large amount of data is captured and the data is analyzed.
- The concept of IoT connects any device with the help of the Internet, enabling the devices to interconnect with each other. The application base of business process automation is also increasing, with its use cases across various industry verticals such as healthcare, education, BFSI, IT, and Telecom.
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North America Expected to Hold Major Share of the Global Business Process Automation Market
- In terms of region, the global business process automation market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is expected to account for major share of the global business process automation market during the forecast period due to advancements in technology in this region.
- Digital awareness and high IT spending is also expected to drive the business process automation market in the region.
- Europe and Asia Pacific are expected to hold significant share of the global business process automation market during the forecast period due to increasing automation and implementation of advanced technology in these regions.
- The business process automation market in MEA is expected to expand at a significant rate during the forecast period
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Global Business Process Automation Market – Competitive Landscape
Tata Consultancy Services Limited
Infosys Limited
IBM Corporation
SAP SE
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