Digital Process Automation Market size is projected to grow at a 9.30% CAGR Rate by 2022 to 2030 | MRFR
Research Reports
Jan 12, 2023
According to market research future insights analysis, the global digital process automation market is expected to register a CAGR of ~9.30% from 2022 to 2030 and hold a value of over ~USD 18.5 billion by 2030.
The rising demand for business process automation across numerous industry verticals is one of the main factors fueling the growth of the digital process automation market. The Digital Process Automation Market expansion is accelerated by the rising automation of business operations, including marketing, sales, production, inventory management, supply chain, IT, and administration, as well as the quick adoption of digital transformation by companies across a range of end-use sectors. The market is also influenced by digital automation in healthcare, energy and utilities, media and entertainment, transportation and logistics, telecom, IT, and retail and consumer goods. Additionally, the mainstreaming of edge computing, urbanization, and digitization, as well as the increase in investments and adoption of the low-code automation platform, have a positive impact on the Digital Process Automation Market. On the other side, it is anticipated that issues with integration with current systems and tools and worries about data security and privacy may impede industry expansion. The market for digital process automation is expected to face difficulties due to a lack of technological know-how.
Digital Process Automation Market Key Players
Some of the key market players are
- IBM
- Pegasystems
- Appian
- Oracle
- Software AG
- DST Systems
- Opentext
- Dxc Technology
- Infosys
- Cognizant
- Mindtree
- Newgen Software
- Tibco Software
- K2, Bizagi
- Nintex
- Ayehu Software Technologies
- Integrify, Helpsystems
- Innov8tif
- Novatio Solutions,
- Bonitasoft
- Cortex
- PMG
- Blue-Infinity.
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Report Scope:
|
Report Attribute/Metric |
Details |
|
Market Size in 2030 |
USD 18.5 billion |
|
Growth rate: |
CAGR of 9.30% from 2022 to 2030 |
|
Forecast Period |
2022-2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Digital Process Automation Market USP Covered
Digital Process Automation Market Regional Analysis
North America dominated the market for digital process automation in 2021 due to the region’s growing need for superior sensing technology. The diversified packaging that boosts the need for cutting-edge sensing technology, which will directly affect the expansion of automated products, is one of the primary trends driving the growth of the digital process automation market in the area. Modernized global supply networks and logistics are to blame for the United States’ rapid growth. Due to the development of global logistics networks, American manufacturers may now efficiently and successfully ship raw materials and finished goods anywhere globally.
Asia Pacific is expected to register lucrative growth in the market for digital process automation because of the region’s technical breakthroughs. Additionally, the rapid expansion of the global market for digital process automation would be significantly impacted by the strong demand for the integration of cloud-based automation services. However, China is anticipated to grow at the fastest rate during the projection period due to establishment of small and medium-sized businesses nationwide and the growing adoption of digitalization.
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Digital Process Automation Market Segmentation
The global digital process automation market has been segmented into components, business function, organization size, deployment type and industry vertical.
Based on components, the market has been segmented into solutions and services (professional services, managed services). The services category accounted for the largest share of the market in 2021. The software life cycle includes the crucial components of integration, deployment, product upgrade, maintenance, training, consulting, and services.
Based on business function, the market has been segmented into sales process automation; supply chain automation, claims automation and marketing automation. The supply chain automation category accounted for the largest revenue share in 2021 in the digital process automation market. Recently, corporations have benefited immensely from the supply chain function. However, some parts of the supply chain operation still use manual, cumbersome procedures. Due to business globalization, businesses have started implementing digital process automation solutions to streamline their supply chain operations.
The market has been segmented based on organization size into small and medium-sized enterprises (SMEs) and large enterprises. The large enterprisescategoryaccounted for the largest revenue share in 2021 in the market for digital process automation. Many large enterprises use digital process automation to shorten the time spent on routine tasks and use the extra time to make strategic decisions.
The market has been divided into on-premises and cloud deployment types. The cloud category accounted for the largest revenue share in 2021 in the market for digital process automation due to advantages including lower operational expenses, ease of implementation, minimum updating, and lower infrastructure expenditures. Organizations are increasingly turning to cloud-based solutions to increase flexibility in their expanding business operations.
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Divided by industry vertical, the market has been segmented into manufacturing, retail &consumer goods, BFSI, telecom & IT, transport &logistics, energy &utility, media &entertainment, healthcare and others (government and travel, hospitality). The BFSIcategory accounted for the largest revenue share in 2021 in the market for digital process auutomation. Aspects connected to the advantages of digital process automation, such as efficient processing and output, reduced time delays, and increased security, are boosting demand for this market sector.
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