ID: MRFR/SEM/5188-HCR | February 2021 | Region: Global | 100 pages
Digital process automation refers to the process of replacing redundant human workforce with digital automation solutions that can take on the task of running a given workflow smoothly. Automation has become the need of the hour in the business world due to the need to get things done quickly as well as the need to ensure minimal errors in the workflow. Digital process automation takes care of both these challenges, presenting business entities with a smoothly functioning work unit at the minimum possible cost.
The global digital process automation market is expected to exhibit a stellar 15% CAGR over the 2017-2023 forecast period, growing from USD 6 billion in 2017 to USD 14 billion by 2023.
The major driver for the global market of digital process automation is the rising demand for automation in enterprises. All over the world, enterprises are realizing the benefits of automation to their workflow and are thus going after automation solutions. Automation solutions can free up an organization’s valuable human resources to contribute more productively and more directly to the company’s strategic vision. Day-to-day menial tasks can be handed over to automation solutions, leaving an organization’s human capital free to produce more creative work.
The low cost of digital process automation platforms is another key driver for the global digital process automation market. The low cost of software platforms has made it possible for companies to tackle their core functionalities with maximum efficiency. This has made automation solutions highly popular in a wide range of end-use industries.
On the other hand, lack of technical expertise and issues concerning data privacy and security are likely to hold back the digital process automation global market
The report segments the global digital process automation market by services, industry vertical, deployment, organization size, and region.
By services, the market of digital process automation is segmented into professional and managed services. Of these, professional services are the dominant segment and are likely to retain the title over the forecast period with the highest growth rate.
By industry vertical, the market of digital process automation is segmented into BFSI, consumer electronics, retail, manufacturing, healthcare, and transportation. Of these, the manufacturing sector holds the largest share in the digital process automation global market at present. However, the retail sector is expected to exhibit the highest growth rate over the forecast period.
By deployment, the market of digital process automation is segmented into on-cloud and on-premise deployment. Cloud solutions are likely to remain the popular option in the digital process automation market over the forecast period.
By organization size, the market of digital process automation is bifurcated into large enterprises and small and midsized enterprises (SMEs). Of these, large enterprises are the dominant segment at present. However, as more small and midsized enterprises learn about the benefits of digital process automation, they are likely to adopt it in high volume, leading to a higher growth rate for the segment over the forecast period.
The global market is segmented into north america, europe, asia pacific (APAC), and rest of the world. Europe is the dominant market at present, while APAC is expected to show the highest growth rate over the forecast period.
Key players in the global digital process automation market are IBM, Oracle, Pegasystems, Appian, Software AG, DST Systems, Opentext Corporation, Dxc Technology, Infosys, Cognizant, Mindtree, Newgen Software, Tibco Software, Bizagi, Nintex, Ayehu Software Technologies, Integrify, Helpsystems, and Innov8tif.
Every effort is made to ensure the use of correct data at Market Research Future. Primary interviews are conducted with leading industry entities and supplemented by secondary research in order to deliver a comprehensive picture of the market’s trends and dynamics. We adhere to a carefully developed set of standards in order to maintain a high standard in delivering a complete picture of the market. The market is estimated top to bottom with the help of credible resources, in order to ensure consistency with the market’s ground conditions.
Global Market by Services
Global Market by Industry Vertical
Global Market by Deployment
Global Market by Organization Size
Global Market by Region
Frequently Asked Questions (FAQ) :
The valuation of the digital process automation market by 2023 would be USD 14 bn.
The digital process automation market valuation in 2017 was USD 6 bn.
The digital process automation market CAGR would be 15% during the forecast period of 2018 to 2023.
Europe has the potential to lead the digital process automation market.
The players to provide traction to the digital process automation market are Pegasystems, IBM, Oracle, DST Systems, Opentext Corporation, Appian, Software AG, Cognizant, Dxc Technology, Infosys, Newgen Software, Mindtree, Bizagi, Nintex, Tibco Software, Helpsystems, Ayehu Software Technologies, Integrify, and Innov8tif.