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The Digital Process Automation (DPA) market is influenced by a myriad of factors that collectively shape its dynamics and trajectory. One of the primary drivers behind the growth of DPA is the increasing need for businesses to streamline and automate their operations. As organizations strive for efficiency and agility, DPA solutions offer a means to optimize processes, reduce manual intervention, and enhance overall productivity. This demand is further fueled by the relentless pace of technological advancements, prompting businesses to embrace digital transformation for a competitive edge.
Moreover, the ever-expanding scope of industries adopting DPA solutions is a significant market factor. From finance to healthcare and manufacturing, organizations across diverse sectors recognize the potential of digital process automation in achieving operational excellence. This widespread adoption contributes to the market's robust growth as more companies seek tailored DPA solutions to meet their unique needs and challenges.
Another pivotal factor influencing the DPA market is the increasing complexity of business processes. As enterprises evolve and expand, their workflows become intricate and interconnected. Digital Process Automation offers a sophisticated yet user-friendly approach to managing these complexities. The ability to orchestrate and automate intricate processes efficiently becomes a key selling point for DPA vendors, attracting businesses grappling with intricate workflows.
The global push towards cost optimization also plays a crucial role in the DPA market. Businesses are constantly looking for ways to cut costs without compromising quality or efficiency. DPA solutions provide an avenue for organizations to achieve operational excellence, reduce errors, and enhance resource utilization. As cost-saving initiatives gain prominence, the demand for DPA is likely to intensify.
Additionally, the rising awareness and appreciation of the benefits of DPA contribute to its market growth. Organizations are increasingly recognizing the transformative impact of DPA in enhancing customer experiences, accelerating time-to-market, and ensuring compliance with regulations. The growing understanding of these advantages fosters a positive outlook toward DPA solutions, prompting more businesses to invest in these technologies.
On the flip side, challenges such as concerns over data security and privacy pose potential obstacles to the DPA market. As businesses digitize their processes, the need for robust security measures becomes paramount. Vendors in the DPA space must address these concerns by implementing stringent security protocols and ensuring compliance with data protection regulations to build trust among potential users.
Furthermore, the competitive landscape of the DPA market is marked by a multitude of players offering diverse solutions. This diversity presents businesses with a wide array of options, but it also intensifies competition among vendors. To thrive in this competitive environment, DPA providers must continuously innovate, improve their offerings, and demonstrate adaptability to evolving industry requirements.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 10.82 Billion |
| Growth Rate | 10.8% (2022-2030) |
Digital Process Automation Market Highlights:
Global Digital Process Automation Market Overview:
Digital Process Automation Market Size was valued at USD 9.65 billion in 2021. The Digital Process Automation market industry is projected to grow from USD 10.82 billion in 2022 to USD 24.63 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.8% during the forecast period (2022 - 2030). The demand for digital process automation will rise during the predicted period. Digital process automation has the ability to significantly reduce costs. The use of modern technology is expected to become commonplace in many enterprises. These factors will greatly increase the market value of digital process automation.
FIGURE 1: Digital Process Automation Market 2018-2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Covid-19 Analysis
Many global industries have been impacted by Covid 19. The numerous lockdowns and limitations have had an impact on market activity. Several firms have ceased operations. Work from home has also become popular in many businesses. The market for digital process automation has met minimal difficulties. The market demand has been impacted by a slowdown in the deployment of digital process automation. In recent years, the majority of businesses have not adopted any technologies. The pandemic has caused an economic disaster. As a result, businesses are unable to invest in new technologies. The lower the investment, the lower the revenue of the digital process automation industry. The digital process automation sector is experiencing significant revenue declines. However, the digital process automation industry is likely to rise rapidly in the future years.
Digital Process Automation Market Trends
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Rising demand for automation in industries
The sharply surging demand for automation in enterprises is a crucial driver. Digital process modifies the organizations work. The streamlining of workflow is efficient through proves automation. The solution of this system is empowering too many organizations. More innovations and solutions are possible through this system. The low code concept of process automation combines business and IT. Through this, the businesses are able to respond to their customers well. The traditional organizational processes are highly tied consuming. They are inefficient and lead to plenty of risks in any organization. The business finds it hard to cope with customers’ requirements with traditional methods. However, with the digital process automation the business is approaching the future. Affecting, productivity and cost management is exceptional through this. Customer experience through the digital process automation is bringing extraordinary changes in nay business. These are the causes for high demand for process automation. The user end of this market is wide. It leads to more demand for digital process automation in the forecast period.
Digital Process Automation Market Segment Insights:
Digital Process Automation Component Insights
The market is divided into Solution and Service based on Component. During the forecast period, the services segment is expected to have the greatest CAGR. Services form an essential part of the software life cycle that comprises integration, deployment, product upgrade, maintenance, training, and consulting.
FIGURE 2: Digital Process Automation Market SHARE BY COMPONENT 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Process Business Function Insights
The market is divided into four segments based on business function: sales process automation, supply chain automation, claims automation, and marketing automation. During the projected period, the supply chain automation segment is expected to grow at the fastest rate. Automation enables organizations to receive and handle orders more efficiently, beginning with the planning, configuration, pricing, and order delivery stages. Furthermore, it provides visibility into multi-enterprise supply chain networks of suppliers and partners, allowing firms to succeed.
Digital Process Deployment Type Insights
Based on deployment type, the market is divided into On Premises and On Cloud.
Digital Process Organization Size Insights
Based on organization size, the market is divided SMEs and Large Enterprise.
Digital Process Automation Verticals Insights
Manufacturing, Consumer Goods & Retail, BFSI, Telecom & IT, Transport & Logistics, Energy & Utility, Media & Entertainment, Healthcare, and Others are the market verticals. During the forecast period, the Banking, Financial Services, and Insurance category has the biggest market share. The benefits associated with digital process automation, such as efficient processing and output, reduced time delays, and increased security, are driving demand for this market.
Digital Process Automation Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Asia Pacific, Europe, and North America are the primary geographical participants in the digital process automation market. Early adoption of digital process automation will increase demand in Asia Pacific. The forecast period will see significant improvements in the digital process automation industry. North America is the second largest and fastest growing area. The presence of a prominent player will result in increased development in North America. The United States and Canada are the primary contributors to the high market revenue. These important firms' investments are significant for the market. In addition, Europe is experiencing increased demand during the projection period. There are numerous automation enterprises in this region. All of these elements will contribute to rapid expansion among regional players.
FIGURE 3: Digital Process Automation Market SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Process Automation Key Market Players & Competitive Insights
The market's top players in digital process automation are launching new products. Furthermore, R&D activities are critical for the growth of the digital process automation market. The players invest in these operations in order to develop new formulas and features that would improve consumer convenience. These factors, in turn, lead to the expansion of the digital process automation industry.
Strategic collaborations are a crucial component of market growth. The participants are engaged in these actions in order to increase their influence across the industrial automation device manager software market, hence raising the growth rate. Software AG, IBM, Pegasystems, Newgen software, Bonitasoft, blue-infinity, DXC, and Infosys are some well-established participants in the digital process automation sector.
Key Companies in the Digital Process Automation market include.
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IBM Corporation
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Bizagi Group Limited
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Pegasystems Inc.
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Appian Corporation
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Oracle Corporation
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Software AG
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DST Systems Inc.
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OpenText Corporation
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Newgen Software Technologies Ltd.
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TIBCO Software Inc
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Bonitasoft
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Blue-Infinity
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DXC
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Infosys
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Others
Digital Process Automation Industry Developments
May 2023: Bonitasoft, a leader in open-source digital process automation, today announced the launch of their Self-Contained Apps platform, a ground-breaking new method of automating processes. By fusing the advantages of containerization approaches & technologies for deployment & management with the strength of BPM application platform technologies for application development, Self-Contained Apps implement the "composable enterprise" approach of creating business applications from interoperable elements. Bonita 2023.1's ground-breaking Self Contained Apps strategy is a radical shift from the strategy of process-based apps hosted on a platform with the shared resources. With its own runtime and resources, any Self-Contained App produced with Bonita process automation platform can be put into production using Docker and Kubernetes.
March 2023: Telecom Egypt (TE), the country's top network service provider, declared that it is working with IBM to include intelligent automation technologies in order to offer a single solution for all of their operations support systems or (OSS) spanning mobile, fixed, and core networks. Both the use of IBM Robotic Process Automation (RPA) solutions by TE and the deployment of IBM Cloud Pak for the Watson AIOps running on RedHat OpenShift are planned. The solution will be developed to provide TE with a comprehensive view of its entire IT infrastructure & to help them innovate quickly, cut operating expenses, and shorten the time it takes to troubleshoot and fix network-related issues.
August 2022: By forming a strategic partnership with Liferay DXP in August 2022, Sigma Solve, a technology consulting and software development company that supports clients' visions for the digitization, the sales growth, the system integration, & business process automation, will give businesses in North America access to a feature-rich platform that puts integrated digital capabilities and innovation in their hands. The digital transformation methodology used by Sigma Solve seamlessly connects with the Liferay's DXP platform.
February 2022: Nokia and Atos have teamed forces to promote enterprise digital applications by providing comprehensive private 4/5G network services. The collaborative solution, which combines Atos and Nokia servers, brings together the two cloud and edge computing pioneers to aid enterprises in their digitization journey toward Industry 4.0. The collaboration makes use of Nokia Digital Automation Cloud (DAC), an industrial-grade private wireless connectivity and application platform, as well as Atos' AI computer vision platform, which has been strengthened by Atos' recent acquisition of AI pioneer Ipsotek and its unrivalled IP and software capabilities.
November 2020: IBM and AMD announced their joint development agreement to enhance their product line.
May 2020: Appian announced its integration partnership with Box for deep collaboration and to develop new products.
January 2020: Appian announced the acquisition of Novayre Solutions SL to expand its product portfolio.
Digital Process Automation Market Segmentation:
Digital Process Automation Component Outlook
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Solution
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Services
Digital Process Automation Business Function Outlook
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Sales Process Automation
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Supply Chain Automation
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Claims Automation
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Marketing Automation
Digital Process Automation Deployment Type Outlook
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On Premises
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On Cloud
Digital Process Automation Organization Size Outlook
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SMEs
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Large Enterprise
Digital Process Automation Industry Vertical Outlook
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Manufacturing
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Consumer Goods & Retail
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BFSI
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Telecom & IT
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Transport & Logistics
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Energy & Utility
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Media & Entertainment
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Healthcare
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Others
Digital Process Automation Regional Outlook
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North America
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US
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Canada
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Mexico
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Europe
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Germany
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France
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UK
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Rest of Asia-Pacific
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Middle East & Africa
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South America
Intended Audience
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Technology Investors
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Regulatory Industries
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Government Bodies
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Gaming Industry
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