Global Business Automation Tools Market 2023-2030

Global Business Automation Tools Market 2023-2030

Global Business Automation Tools Market Size, Share & Trends Analysis Report by type (Supply Chain Automation, Accounting and Finance Automation, Sales and Marketing Automation, Customer Service Support Automation, and Human Resources Automation), by Deployment (On-Premises and Cloud), and by Industry Vertical (BFSI, Retail and E-commerce, Manufacturing, IT and Telecom, Healthcare, and Others), Forecast Period (2023-2030)

The global business automation tools market is anticipated to grow at a CAGR of 9.8% during the forecast period. The growth of the market is attributed to factors such as streamlining processes and workflows, reducing manual intervention and human errors. This leads to increased efficiency, faster task execution, and enhanced overall productivity within organizations. The increasing key player's focus on launching innovative products accelerating the demand for business automation tools in the market. For instance, in August 2023, Kognitos, the trailblazer in generative AI for business automation, revealed its generative AI automation platform which enabled business users to plan, verify, run, and maintain business process automation all in natural language. This consists of two major features in its automation platform including self-service for all, human language interpreter 2.0.

Segmental Outlook

The global business automation tools market is segmented based on the type, organization size, and industry vertical. Based on the type, the market is sub-segmented into supply chain automation, accounting and finance automation, sales and marketing automation, customer service support automation, and human resources automation. Based on deployment, the market is sub-segmented into on-premises and cloud. Based on industry vertical, the market is sub-segmented into BFSI, retail and e-commerce, manufacturing, IT and telecom, healthcare, and others (government and public sector, media and entertainment). Among the deployment, the cloud sub-segment is anticipated to hold a considerable share of the market, owing to the remote accessibility, ease of implementation, and cost savings.

Accounting and Finance Automation Sub-Segment is Anticipated to Hold a Prominent Share in the Global Business Automation Tools Market

Among the type, the accounting and finance automation sub-segment is anticipated to hold a prominent share of the market, owing to the time-saving, data accuracy, and higher productivity. Thus, the increasing focus on developing new and advanced AI-based accounting automation for catering to the growing demand across the globe. For example, Cashflo, an integrated accounts payables and supply chain financing platform launched a payments and accounts payables (AP) automation and payments product suite that deployed artificial intelligence to automate operational tasks in businesses. The suite simplified complex tasks such as real-time GST checks, approval workflows, and invoice-to-pay processes.

Regional Outlook

The global business automation tools market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the European regional market is expected to grow considerably over the forecast period, owing to the increasing focus on digital transformation to stay competitive. Automation tools play a pivotal role in modernizing processes and adapting to changing customer preferences.

Global Business Automation Tools Market Growth by Region 2023-2030

Source: OMR Analysis

North America is Expected to Hold a Prominent Share in the Global Business Automation Tools Market

North America is poised to dominate the global business automation tools market, underpinned by the burgeoning e-commerce sector and a surging trend in manufacturing automation. Government initiatives aimed at fostering technology and innovation adoption further bolster this growth. For instance, in May 2019, the US government continued to encourage and clear a path for the use of robotic process automation (RPA). The government's fast approval of RPA pilots is evidence of its potential.

Market Players Outlook

The major companies serving the global business automation tools market include IBM Corp., Salesforce, Inc., Oracle Corp., Microsoft Corp., UiPath, Automation Anywhere, Inc., Arrayworks Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2023, Workato, Inc., entered into a strategic partnership with OpenAI OpCo, LLC. This partnership targeted to simplify the process of building automation and integrations by using generative AI.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global business automation tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.