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The Global Business Process Automation Market size is expected to reach $19.4 billion by 2026, rising at a market growth of 13.2% CAGR during the forecast period. The utilization of technology to perform repetitive tasks or processes in a business where manual efforts can be substituted is known as business process automation. It is performed with an aim to reduce costs, enhance efficiency, & simplify processes.
For corporate functions, business process management has always been a crucial factor; however, only in recent years a bright possibility emerged to refine and simplify the several activities contained in this domain. A large number of companies operating in a wide range of industries have become more dependent on digital technology for various corporate operations and objective realization, automation has gained a major position in the IT investment landscape.
Business Process Automation Market worth $19.6 billion by 2026 - Exclusive Report by MarketsandMarkets Business Process Automation Market by Component, Deployment Type, Organization Size, Business Funtion (Sales and Marketing, HR, Accounting and Finance, Supply Chain, Customer Service Support) Vertical, and Region - Global Forecast to 2026
, published by MarketsandMarkets, 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% during the forecast period.
The 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 a few factors driving the growth of the BPA solutions.