As per the study at FMI, the form automation software market is valued at US$ 270.6 million in 2022 and is expected to reach US$ 1.2 billion by 2032, growing at a 16.3% CAGR. The growing demand for fast data processing units that fill the form and cuts off the hassles for the businesses so that the companies can focus on their core competencies.
New ways to store data and complete the data processing along with recurring manual tasks fuel the market along with the growth of form automation software market are rapid digitization and increasing integration of new-age technologies with automation software.
Reluctance among customers so that businesses adopt such software so that it could flourish with faster operations in two different ways–firstly, it covers the creation and managing of electronic forms for digitizing the multiple components of businesses.
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The new integrated solutions like AI and Machine learning are collaborating with form automation software, making the platform more technically enabled. This allows the vendors to experiment and introduce new integrated spaces that deliver better control and faster processing.
The major restrictions that limit the growth of form automation software market are high capital investments, an incompetent workforce, and security compliances. The growing number of cyber-attacks and data theft are raising concerns over any new digital software that deals with data and storage spaces.
What is the Segmentation Outlook for the Form Automation Software Market?
- The software platforms segment is the largest segment and will hold the biggest portion of the market in the forecast period, thriving at CAGR of 15.8% through 2032, owing to factors like its common use and interactive user interface along with exciting price ranges and its effective implementation on SMEs and large enterprises.
- On-premises segment is the biggest segment and will hold the largest portion of the market, flourishing at a CAGR of 15.9%, attributing to more control over data and storage along with faster transmission and easy implementation, increasing the security compliance levels.
- The biggest and highest growing market is United States, flourishing at a CAGR of 15.9% between 2022-2032, growing because of the features like new corporate setups in the grown markets, startups and digitization of old working spaces.
- The China being the second highest growing market globally will hold US$ 89.2 Mn by the end of 2032 as it thrives on a promising CAGR of 15.7% between 2022-2032 with Japan and South Korea growing alongside.
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COMPETITIVE LANDSCAPE:
Some of the form automation software market competitors listed in the FMI’s study on form automation software market are PaperForm, JotForm, Zoho Corporation, FormStack and ProntoForms.
Key Segments
By Component :
- Software Platform
- Services
By Pricing Analysis:
- Licensing Based
- Subscription-Based
By Deployment Type:
- On-premises
- Web-based
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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