The global Business Process Automation (BPA) market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period, to reach USD 19.6 billion by 2026 from USD 9.8 billion in 2020. Increased need for optimized resource utilization through automated business processes, rising demand of automated IT systems, growing demand for streamlining communication across varied business functions in organizations, and business agility are expected to spur the demand for BPA offerings across the globe. Moreover, the BPA vendors are offerings innovative and affordable solutions for SMEs for automating and streamlining the business processes, seamless integration, and enhancing compliance.
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), Genpact (US), DXC Technology (UK), Newgen Software (India), Bonitasoft (France), Kofax (US), FlowForma (Ireland), AuraQuantic (US), 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 majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the BPA market.
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IBM has been working extensively toward becoming an exclusive cloud provider. It is one of the major vendors of BPA solutions and services. It primarily intends to improve the technology usage experience for both personal and commercial clients. The company aims at providing customers with economical 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 focuses on developing new and efficient solutions, and increasing its service offerings in BPA. Its customer base is spread across several industry verticals, including manufacturing, IT, BFSI, and telecom. 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 with the help of organic and inorganic growth strategies. Furthermore, according to IBM’s COVID 19 and the Future of Business report, The COVID-19 pandemic has accelerated digital transformation at 59% of surveyed organizations. The COVID-19 pandemic has accelerated digital transformation at 59% of surveyed organizations. The company continues to offer innovative solutions during the COVID 19 pandemic to enable businesses continue the operations.
Appian is an eminent player in the BPA market, as it provides strong BPA, RPA, and BPM offerings, such as solutions, products, and services. Currently, the company is focusing on catering to its customers with highly competent technology-enabled products and services in RPA, BPM, and BPA to sustain competition. With the growing demand for digital transformation and business operations, automation solutions are gaining traction and benefitting strong players such as Appian. The organization aims at delivering innovative solutions and improved business operations, thereby satisfying its customers. Key factors responsible for major shares in the market are wide geographic reach, strong distribution channels, and enhanced BPA solution offerings. Appian constantly makes efforts to be the top provider of BPA solutions and products. The company’s growth strategies comprise both organic and inorganic strategies. Since 2017, it has been adopting inorganic growth strategies such as strategic collaborations and partnerships to expand its reach in the BPA market. Recently, Appian collaborated with Accenture to offer combined solutions to the government and public sector to enhance process automation. The company focuses on strengthening its organic growth strategies, such as constant product enhancements and new product launches. These growth strategies have helped Appian hold its position in the BPA market, while they have also helped the company to contentiously offer improved BPA solutions. Moreover, the company has taken initiatives in response to COVID 19 crisis. It has created a free COVID-19 Response Management application for enterprises and government agencies. It tracks health status, location, travel history and any COVID-19 incident details. The company has also designed Workforce Safety solution, which enables compliance with corporate policies and government COVID-related regulations, while maintaining the privacy and security of employee health information.
Business Process Automation Market by Component, Deployment Type, Organization Size, Business Funtion (Sales and Marketing, HR, Acoounting and Finance, Supply Chain, Customer Service Support) Vertical, and Region - Global Forecast to 2026
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