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Workflow Automation Market revenue to exceed USD 268.8 Billion by 2033, says Research Nester

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New York, July 31, 2023 (GLOBE NEWSWIRE) — The global plasma fractionation market size is predicted to expand at ~26.5% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 268.8 billion by the end of 2035, up from a revenue of ~USD 15.9 billion in the year 2022. Growth is driven by improvements in customer experience, reduction of errors, and increase in employee satisfaction, as well as growth in data entry errors. There are approximately 24000 hours of needless rework associated with human data entry errors, which accounts for USD 877,000 of needless rework in financial processes each year.

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 Automation of financial processes eliminates manual data entry and reduces errors caused by human intervention. It also streamlines and standardizes the approval process, resulting in faster and more accurate financial reporting. Additionally, automation in work improves customer experience by providing faster, more accurate services and reducing errors in data entry.

Global Workflow Automation Market: Key Takeaways

  • Asia Pacific to propel the highest growth
  • Banking segment to garner the highest growth
  • North America to grow at the highest rate

Business Productivity Increased Through Automation to Boost Market Growth

Automation can help streamline manual processes, provide a consistent output, and reduce errors. This can lead to increased efficiency, improved decision-making, and increased accuracy in data entry. Additionally, automation can help free up employees from mundane tasks, allowing them to focus on more complex and creative tasks. This leads to increased efficiency and productivity, which in turn leads to improved customer service, increased revenue, and overall cost savings. It is estimated that 95% of small and medium-sized businesses are involved in repetitive, time-consuming tasks. 90% of knowledge workers’ jobs have been improved by automation, and 66% have been more productive through automation.

Global Workflow Automation Market: Regional Overview

The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Growing Penetration Of Connected Devices In Conjunction With A Surge In Digitalization To Drive The Growth In The Asia Pacific Region

In the Asian Pacific region, workflow automation is expected to generate the largest revenue by 2035 because many countries are investing heavily in digitalization and automation technologies, such as the Internet of Things. Over 20% of enterprises in APAC expect their IoT deployments to reach more than 500,000 devices that can be wirelessly connected to a network and transmit data by 2023. A forecasted 39 billion IoT devices will be in use by 2030 as a result of emerging adoption of the IoT in the region, particularly from India, Pakistan, Bangladesh, Indonesia, and Thailand. IoT enables devices to be connected to the internet, which allows them to communicate with each other and exchange data. This data can be used to automate processes and make them more efficient, which increases the demand for workflow automation.

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Presence Of Large Enterprises And Advanced Start-Ups In Region To Drive The Growth In North America

The workflow automation market in the North America region is estimated to garner the largest revenue by the end of 2035 due to the presence of many large enterprises, the increasing need to reduce operational costs, and the growing focus on improving customer experience. The number of companies employing between 100 and 499 people in the United States is estimated to reach over 126200 by 2026. Automation allows large companies to scale their operations quickly and easily, allowing them to stay competitive in today’s fast-paced market. Additionally, companies in the region are turning to technologies such as cloud services, ERP, and CRM to improve their efficiency and reduce costs. Furthermore, the prevalence of technology start-ups provides an opportunity for businesses to access cutting-edge automation solutions.

Global Workflow Automation Market, Segmentation by End User

  • Banking
  • Telecom
  • Retail
  • Manufacturing & Logistics
  • Healthcare & Pharmaceuticals
  • Energy & Utilities

The banking segment is anticipated to hold the largest revenue by the end of 2035. By 2024, banking will be one of the two industries investing the most in artificial intelligence solutions. It is estimated that 80% of finance leaders have implemented or plan to implement Robotic Process Automation (RPA). Automation of banking processes allows for more efficient customer service, as customers can access their accounts with fewer manual steps. This leads to better customer engagement, as customers can be serviced quicker and more efficiently. Additionally, automation of banking processes reduces the need for manual labor, leading to cost savings. All of these factors contribute to the growth of the banking segment market.

Global Workflow Automation Market, Segmentation by Deployment

  • Cloud
  • On-Premise

The cloud segment in the market is anticipated to hold the largest revenue by the end of 2035 Because cloud-based workflow automation systems provide cost-effective solutions for businesses, such as scalability, rapid deployment, and accessibility from anywhere. With the pandemic, there has been a dramatic increase in the number of people working from home, which has led to an increased demand for cloud-based workflow automation tools. It is predicted that 40% of enterprise workloads will be launched on the cloud by 2023. These tools allow employees to stay connected easily, share files, and complete tasks quickly and efficiently. Companies are taking advantage of these tools to create more agile and efficient workflows, as well as to reduce costs associated with on-premise infrastructure.

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Global Workflow Automation Market, Segmentation by Solution

  • Software
  • Services

A few of the well-known market leaders in the global market that are profiled by Research Nester are Appian Corporation, Bizagi Group Limited, IBM Corporation, Oracle Corporation, Pegasystems Inc., Software AG, Xerox Corporation, Amelia US LLC, Newgen Software Technologies Limited, Nintex Global Limited, and other key market players.

Recent Development in the Global Workflow Automation Market

  • October 19, 2022: As part of the company’s ongoing commitment to providing organizations with improved service effectiveness and customer service, Oracle Corporation has announced the release of a new asset-based service solution for Oracle Fusion Cloud Apps Suite. The new asset-based service solution is designed to enable organizations to quickly respond to customer inquiries, reduce service downtime, and increase service visibility.
  • September 02, 2021: Automation Anywhere and Software AG collaborate to enable scalable automation for more companies. This collaboration is intended to help companies automate more processes quickly and easily. Automation Anywhere’s RPA technology automates manual tasks, while Software AG’s ARIS platform helps companies identify, monitor, and manage their business processes.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.


Artificial Intelligence

Compact Solutions, Mighty Results: Cervoz Unleashes the Power of Edge Computing

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TAIPEI, May 20, 2024 /PRNewswire/ — Cervoz Technology, a leader in industrial-grade storage, memory, and expansion solutions, is powering the evolution of edge computing with its innovative solutions.

In today’s data-rich landscape, businesses rely on insights from IoT devices. With advancements in AI and 5G, data volumes surge, straining traditional cloud computing with bandwidth and latency issues. Edge Computing emerges as a solution, processing data at its source for real-time insights crucial for applications like digital twins, autonomous vehicles, and smart healthcare.
What is Edge Computing?
Edge Computing is a decentralized IT architecture that processes data near its origin, often at the network’s edge. This approach divides tasks from central data centers to edge devices and nodes. It enables faster, deeper insights and enhances responsiveness, improving speed and reducing latency compared to centralized clouds. Typically, an Edge Computing system comprises three layers: device, edge, and cloud.
The Device Layer
The device layer, situated closest to the physical world, comprises endpoint devices such as sensors, controllers, and cameras, among others. The layer prioritizes data collection and initial processing for real-time response and efficiency. It requires highly reliable, compact, and energy-efficient components. Cervoz’s M.2 2230 (A+E key /B+M key) NVMe SSDs and DDR4 SO-DIMM modules optimize this setup with fast data access and efficient storage in space-saving designs. They operate reliably across a wide temperature range (-40°C to 85°C) and feature additional conformal coating and anti-vibration filling for enhanced performance in harsh environments.
The Edge Layer
The edge layer, composed of edge servers and gateways, serves as a crucial link between device-layer data sources and cloud-based operations. It is designed for extensive data handling, filtering, and analytics, emphasizing quick operations and real-time responses to minimize reliance on remote data centers. For optimal performance, components must manage high processing loads with minimal latency and maximum stability. NVMe SSDs boasting PCIe Gen3 or higher, such as the Cervoz NVMe PCIe Gen3x4 SSD, with compact M.2 form factors, advanced DRAM cache buffer, and LDPC ECC technology, are perfectly suited for the edge layer. These SSDs enable efficient directory and error correction during high-speed data transfers, thus enhancing data accuracy and reliability.
The Cloud Layer
The cloud layer requires intensive processing and long-term storage, performing analytics, operating AI and machine learning, and managing extensive data systems across various edge locations. It demands high-performing and reliable components. Cervoz NVMe PCIe Gen4x4 SSDs excel with Read/Write speeds of up to 7,100/6,190 MB/s and 4K random IOPS up to 1,000K, with aluminum heatsinks and thermal throttling for overheating issues. DDR5-5600 DRAM boosts this setup with high data throughput and efficient power use, satisfying rigorous computational needs.
Interlayer Connectivity
Reliable, low-latency network connectivity is crucial as data flows between the device layer, edge, and cloud. Cervoz 10GbE Low-Profile Ethernet Card provides high-speed, stable wired connections in high-bandwidth, low-latency environments. Additionally, the new PCIe Compact Low-Profile Ethernet Card is ideal for narrow edge device enclosures. For areas where wiring is impractical, M.2 Wi-Fi cards offer essential wireless flexibility. These connectivity options ensure a solid foundation for seamless data management across all layers.
Cervoz offers comprehensive solutions to enhance edge computing capabilities. From compact NVMe SSDs and DRAM modules, to advanced modular expansion cards, enabling seamless integration, optimized performance, and unmatched reliability in edge computing deployments.
About Cervoz
Based in Taiwan, Cervoz Technology boasts almost twenty years of expertise in developing and providing industrial-grade storage, memory, and expansion solutions across a myriad of global industrial sectors.
ContactsSales: [email protected] 
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Team Exponentia.ai UK attended the AWS summit in London

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Team Exponentia.ai UK celebrates Sanjay Kumar’s insightful session at the AWS summit in London
LONDON, May 20, 2024 /PRNewswire/ — Sanjay Kumar, Head of Exponentia.ai in UK & Europe, delivered an impactful presentation on Driving Manufacturing Innovation through AWS Analytics & AI. The recently concluded AWS Summit took place on the 24th of April in ExCeL, London.

Sanjay shared the stage at Theatre B with Adrian Pinder from DS Smith and Ahmed Raafat from AWS, captivating the audience with insights and experiences from Exponentia.ai’s collaboration with DS Smith.
During the session, Sanjay Kumar highlighted Exponentia.ai’s impressive use cases and case studies, including the Data Factory and Procurement Spend Analytics (PSA) projects undertaken in partnership with DS Smith. These initiatives demonstrated Exponentia.ai’s commitment to leveraging the AWS ecosystem to drive operational efficiency and business growth in the manufacturing sector.
The Exponentia.ai team seized the opportunity to engage with industry peers, partners, and friends, while also exploring the latest innovations showcased at the summit. Their participation in various sessions and visits to innovative booths further enriched their understanding of industry trends and best practices.
Reflecting on the event, Sanjay Kumar expressed his enthusiasm, stating, “The AWS Summit in London provided an excellent platform for us to showcase our expertise in manufacturing analytics and AI. The overwhelming response from attendees reaffirms the value of our solutions in driving innovation and transformation across industries and our commitment to deliver value to our customers through data. We look forward to continuing our collaboration with AWS and our partners to deliver impactful outcomes for our clients.”
The AWS Summit London 2024 marked a significant milestone for Exponentia.ai, reinstating its commitment to excellence and innovation in the field of AI and analytics. As the team eagerly anticipates future events, they remain dedicated to empowering businesses with transformative technology solutions.
For more information about Exponentia.ai and its innovative offerings, please visit www.exponentia.ai. 
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Clarivate Launches AI-Enhanced Solution to Accelerate Trademark Watching

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Providing faster and more accurate answers to critical business questions
LONDON, May 20, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, launched the first publicly available version of Trademark Watch Analyzer today at the 2024 International Trademark Association Annual Meeting. As the next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, this solution combines Clarivate global trademark and case law data, in-house IP expertise, and cutting-edge AI technology. It will provide faster and more accurate answers to critical business questions by automating key trademark watching tasks and intelligently prioritizing result sets.

Trademark Watch Analyzer connects users to trademark datasets in 258 countries and territories across 191 official trademark registers, as well as data from 7+ million trademark litigation cases. This content is harmonized and connected through AI algorithms which query, connect and mine both datasets delivering advanced insights in supported watch products. This revolutionizes the way trademark watch results are delivered, so that clients can rank results based on their chance of success/opposition.
According to data from SAEGIS®, a CompuMark™ trademark solution from Clarivate, the number of trademark applications filed globally each year has more than doubled since 2014. With over one million new trademarks added to trademark registers around the world each month, the risk of infringement has never been greater, making vigilance of trademark applications essential to protect and grow strong brands.
Gordon Samson, President, Intellectual Property, Clarivate, said: “As the global business landscape grows more complex, trademark professionals are faced with challenges including more data, less context and shorter deadlines. Our advanced AI-driven solution enables clients to confidently monitor their trademarks anywhere in the world, with global monitoring and automated alerts, while also saving time, costs and critical resources. The launch of the Trademark Watch Analyzer is the latest example of our Think forward™ promise — connecting clients to trusted intelligence to ensure an IP-empowered tomorrow.”
With a more intuitive design and user interface, Trademark Watch Analyzer will enable clients to have a much-improved user experience as they work with their results. The navigation will be based on the same architecture as the Brand Landscape Analyzer launched in 2023, providing clients with a more cohesive experience within the Clarivate product suite.
Find out more about Trademark Watch Analyzer here.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact: Jack Wan, External Communications Director [email protected]
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