Digital Process Automation Market Business Opportunities, Overview, Component, Market Revenue and Forecast
The global digital process automation (DPA) market is growing rapidly. The market growth attributes to the rising adoption of automation and digitization across the end-use industries. Besides, increasing demand for digital process automation tools in BFSI, consumer electronics, manufacturing, retail, healthcare, and transportation sectors, substantiate market growth. Moreover, the growing need for digital transformations of businesses escalates the market demand.
According to Market Research Future (MRFR), The digital process automation market is expected to exhibit a stellar 9.30% CAGR over the 2022-2030 forecast period and will reach USD 18.5 billion by 2030. Today, the operations of any business are complex. It is essential to adapt to new technologies to improve their workflow. Automation can help in higher productivity and efficiency in any industry. Also, the risks and errors are less with the adoption of automation.
Major Players:
Players leading the digital process automation market Oracle, IBM, Pegasystems, Software AG, Appian, DST Systems, Dxc Technology, Opentext Corporation, Infosys, Mindtree, Cognizant, Newgen Software, Bizagi, Tibco Software, Nintex, Integrify, Ayehu Software Technologies, Helpsystems, and Innov8tif, among others.
The demand for Digital Process Automation (DPA) solutions is rapidly increasing as organizations seek to streamline and optimize their business processes in the digital age. DPA platforms enable companies to automate repetitive tasks, improve operational efficiency, and enhance customer experiences by digitizing workflows across various departments and functions. With the proliferation of data and the need for real-time decision-making, DPA solutions offer agility and scalability, allowing businesses to adapt quickly to changing market dynamics and customer demands. Moreover, the COVID-19 pandemic has accelerated the adoption of DPA solutions as organizations prioritize digital transformation initiatives to support remote work, ensure business continuity, and drive innovation. Key drivers for DPA adoption include the need to reduce costs, increase productivity, comply with regulatory requirements, and deliver personalized services to customers. As organizations across industries embrace digitalization to stay competitive and agile, the demand for advanced DPA solutions equipped with features such as process analytics, robotic process automation (RPA), artificial intelligence (AI), and low-code/no-code development platforms is expected to continue surging, fueling market growth and innovation.
Digital Process Automation Market - Segments
The report is segmented into five dynamics;
By Services : Professional and Managed Services.
By Industry Vertical : BFSI, Consumer Electronics, Manufacturing, Retail, Healthcare, Transportation, and others.
By Deployment : On-cloud and On-premise.
By Organization Size : Small-to-Mid-size Enterprises and Large Enterprises.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Industry/Innovation/Related News:
October 06, 2020 ---- FlowForma (the US), a leading provider of Digital Process Automation (DPA) Software, announced its partnership with Pontem Innovations (Canada) to accelerate digital process automation across North America. Pontem Innovations empowers organizations to make data-driven decisions through data analytics, visualizations, and process automation.
FlowForma provides process automation tools for Microsoft Office® 365. Pontem Innovations sought the FlowForma Process Automation tool's services as a solution for its clients to automate processes with speed and agility. The partnership would help FlowForma to strengthen its process automation offerings further
Global Digital Process Automation Market - Regional Analysis
North America dominates the global digital process automation market. The largest market share attributes to the strong presence of notable players and well-established development centers, allowing the early adoption of advanced technologies and digital transformation. Besides, increasing R&D investments to develop automation technologies and services drive the growth of the regional market.
Moreover, the increasing adoption of digital automation process across the end-user industries boosts the regional market growth. The digital process automation market in North America is projected to retain its dominance throughout the forecast period.
Europe stands second in the global digital process automation market. The market rise attributes to the presence of many notable service providers and large deployments of automation platforms. Additionally, the rising numbers of SMEs and large enterprises act as a major tailwind for the growth of the regional market.
The high adoption of digital process automation tools pushes the development of the regional market. The European digital process automation market is predicted to create a substantial revenue pocket during the assessment period.
The digital process automation market in the Asia Pacific region is growing rapidly. Factors such as the proliferation of digitization in businesses drive the growth of the regional market. The rising adoption of robotic process automation and cloud deployment of DPA software in large and SMEs to enhance operational performance, influence the growth of the regional market.
Augmenting demand for automation tools from increasing numbers of retailers and businesses acts as a major tailwind for the regional market growth. Substantial investments made by key players for the improvements in services positively impact the growth of the regional market. India and China are major markets for digital process automation (DPA) software in the region. The APAC digital process automation market is expected to grow at a significant rate during the forecast period.
Digital Process Automation Market - Competitive Analysis
Highly competitive, the digital process automation market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products. .
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