Post-pandemic impacts on the workplace seem to have become the ideal catalyst for doubling down on process automation investment. This market is expected to reach roughly $174.17B at a rate of CAGR 7.23% by 2025 — and the market’s seeing players of all sizes get into the mix.While many eyes have long been trained towards robotics process automation (RPA) and artificial intelligence (AI), the scope is widening. This is particularly thanks to the democratized business application development via low-code platforms. As tools become easier to use, more companies are willing to give them a shot.But the market isn’t stopping at accessibility. Once isolated solutions are now growing into a wider melting pot for organization-wide boosts in productivity and cost-efficiency.As disparate pockets of partial automation continue to become a competitive disadvantage, vendors grow their focus towards more comprehensive solutions to be a one-stop-shop for lean, automated enterprise workflows.
Exactly how big is process automation right now?
Today, the process automation market is expected to boom to the estimated tune of $74B. With a wealth of attention from investors and enterprise software giants alike, this category has become a heavyweight among the global automation industry.Among those attracting interest are ProcessMaker, as well as the Berlin-based Camunda. From decade-long journeys as scrappy consultants to proven data orchestration solutions, both companies have recently achieved substantial fundraising success. Consider Camunda’s recent $98M Series B, in which funding from Insight Partners and returning Round A investor Highland Europe puts their total investment at $126M. Meanwhile, in its first-ever outside investment via funding from Aldrich Capital Partners (ACP).The intersection of RPA with tech like business process management software (BPMS) gives their clients an edge that’s becoming non-optional for efficient, competitive workflows. It’s this expansion and consolidation of process-enhancing tools that are pulling even the tech giants into this movement.While a from 2020 to 2021 underpins the influence of this space, it’s the low-code (also called no-code) workflow building that’s the true heartbeat to this newfound automation focus. For instance, acquired process automation startup Softmotive back in May of last year to expand their own low-code solution, PowerAutomate. RPA stars UIPath and ServiceNow are also branching into wider automation with their and India-based startup , respectively. Other software enterprise giants like IBM and SAP are also buying their way into the movement.
