DUBAI, United Arab Emirates, Aug. 29, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global workflow content automation (WCA) market is likely to grow at a noteworthy CAGR of around 15.3% from 2022-2032. The market is expected to reach a valuation of ~US$ 1,073.0 Mn by the end of 2022.
Surging demand for digitalization in business operations and urgent need for the removal of time-consuming tasks with automation are expected to drive growth in the workflow content automation market in the coming decade.
Rising digital transformation initiatives for performance improvements, cost-efficiency, and faster performance is also expected to drive the workflow content automation market and present attractive growth opportunities for numerous vendors.
Digital transformation with the incorporation of WCA solutions helps in streamlining workflows, improves efficiency & productivity for documentation procedures, offers better customer experience, and accelerates organizational growth.
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Key Takeaways: Workflow Content Automation Market
- By solution, the services segment is estimated to grow at a robust CAGR of 13.4% through 2032.
- Based on enterprise size, the SMEs segment is estimated to grow by 5.2x during the forecast period.
- By industry, the IT & telecom segment is anticipated to increase at a CAGR of 19.0% between 2022 and 2032.
- The U.S. workflow content automation market is expected to progress at a CAGR of around 11.3% through 2032.
- In India, the workflow content automation market is likely to grow by 7.7x during the forecast period.
- The workflow content automation market in China is estimated to create an absolute dollar opportunity of US$ 290.0 Mn in the forecast period.
“To meet the increasing automation requirements of several customers across various industries, organizations need to surge investments and create more awareness about workflow content automation platforms and solutions worldwide,” says a FMI analyst.
Rising Adoption of WCA for Easing Compliance and Enhancing Security to Drive Growth
Growing adoption of workflow content automation solutions for scalability of systems to which it is applied is one of the key drivers of the global market. A large number of organizations are expected to adopt workflow content automation platforms in the evaluation period owing to their ability to ease compliance and enhance security.
WCA also helps in achieving automation and digital transformation with cybersecurity and compliance, especially in regions where these are updated on a regular basis. Automating crucial data intensive tasks required for maintaining compliance makes these processes efficient and straightforward while simplifying them, which would fuel the market in the assessment period.
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More Valuable Insights on Workflow content automation Market
Future Market Insight’s report on the workflow content automation industry research is segmented into four major sections – solution (workflow content automation platform (cloud-based, on-premises), services (professional services, managed services), enterprise size (small and mid-sized enterprises (SMEs), large enterprises), industry (BFSI, transportation and logistics, IT & telecom, retail, manufacturing, government, healthcare and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the workflow content automation demand outlook.
Competitive Landscape
Workflow content automation businesses are emphasizing on enterprise partnerships, collaborations, and product innovations for expanding their geographic footprint, strengthening market positions, increasing sales, and maintaining a strong foothold in the competitive market.
For instance,
- In March 2022, Smart Communications announced its partnership with Duck Creek Technologies. The partnership would enable leading insurers to deliver digital-first conversational experiences to their customers. Organizations will be able to streamline processes and enable agents & underwriters to work in a more efficient way.
- In September 2021, MHC announced the introduction of an enterprise workflow and content automation platform named MHC NorthStar. This cloud-native platform is perfect for an end-to-end process which involves communications and documents that are core to operations.
Workflow Content Automation (WCA) Market Outlook By Category
By Solution:
- Workflow Content Automation Platform
- Cloud-Based
- On-Premises
- Services
- Professional Services
- Managed Services
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- Transportation & Logistics
- IT & Telecom
- Retail
- Manufacturing
- Government
- Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Pricing Analysis
4.1. Workflow Content Automation (WCA) Solution, Pricing Models
4.2. Global Average Pricing Analysis Benchmark
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