Digital Process Automation Market Forecasts to 2030 - Global Analysis By Component, Business Function, Organization Size, Deployment Type, Application, End User and By Geography

According to Stratistics MRC, the Global Digital Process Automation Market is accounted for $13.8 billion in 2023 and is expected to reach $37.4 billion by 2030 growing at a CAGR of 15.3% during the forecast period. Using digital technology to perform or execute a workflow or function is known as digital process automation. Businesses across the world rely on business process management (BPM) to enhance and effectively manage back-end operations. For businesses to operate efficiently and with the least amount of error, automation is a necessity. Numerous corporate operations, including marketing, production, sales, inventory control, supply chain, IT, and administration, find significant benefits in rapid automation.

According to research conducted in June 2021, 80 percent of global exhibition venues incorporated digital services or products to complement their existing displays.

Market Dynamics:

Driver:

• Machine learning and AI integration.

• Using digital technology to perform or execute a workflow or function is known as digital process automation. Businesses across the world rely on business process management (BPM) to enhance and effectively manage back-end operations. For businesses to operate efficiently and with the least amount of error, automation is a necessity. Numerous corporate operations, including marketing, production, sales, inventory control, supply chain, IT, and administration, find significant benefits in rapid automation.

Restraint:

• Integrating issues and security issues.

• DPA solutions frequently require integration with pre-existing systems, programs, and workflows. If the legacy systems are out-of-date or have been modified in a way that makes integration challenging, this may be challenging. However, DPA depends on digital tools and information, which may render companies susceptible to risks online. For businesses that deal with sensitive or personal information, this can be a significant concern.

Opportunity:

• Business process management (BPM) adoption.

• Businesses may determine areas for improvement and obtain a better understanding of their current business processes by implementing BPM solutions. Inference implies that firms become more aware of the advantages of process automation and optimization as they adopt BPM efforts. As enterprises become conscious of the need to automate their operations in order to increase efficiency, productivity, and agility, demand for DPA solutions increases.

Threat:

• Inadequate expertise in technology.

• Organizations use cutting-edge technologies that are difficult and require in-depth technical understanding, such as the industrial internet and advanced analytics. Nevertheless, depending on the sort of automation employed, process automation might potentially become more complex. A person needs technical and analytical abilities to use digital process automation solutions and services, as well as knowledge of current technologies. Many end users lack the resources and automation-related expertise essential. This lack of knowledge is anticipated to be a significant obstacle to the market's expansion.

COVID-19 Impact:

• Due to a sudden disruption in the process automation business and harm to work ethics across all industries, the COVID-19 epidemic had an adverse impact on the digital process automation market. Employee preferences and behavior have also undergone considerable adaptation, and the changes that are likely to endure beyond the pandemic scenario will certainly help the market develop.

• The supply chain automation segment is expected to be the largest during the forecast period

• During the projected period, it is anticipated that the supply chain automation segment will account for the largest share. Businesses can easily acquire and manage orders because of automation, starting with the planning, configuration, pricing, and order delivery phases. Furthermore, in order to help organizations succeed, it also provides visibility into multi-enterprise supply chain networks of suppliers and partners.

• The services segment is expected to have the highest CAGR during the forecast period

• Services segment is estimated to witness lucrative growth over the projection period. The software life cycle, which also includes integration, deployment, product upgrade, maintenance, training, and consulting, includes services as a crucial component. Additionally, assistance can be provided during installation and maintenance tasks as part of the consulting, implementation, and support services that are offered.

Region with largest share:

Due to the presence of various major digital process automation providers in the region, North America held the majority of the market during the forecast period. The broadened packaging that boosts need for cutting-edge sensing technology, which will directly effect the expansion of automated products, is one of the primary trends driving the growth of the digital process automation market in the region.

Region with highest CAGR:

Owing to encouraging government initiatives in the manufacturing sector, a spike in the usage of digitalization solutions, and advancements in technology, Asia Pacific is predicted to have profitable growth during the projection period. Moreover, in order to maximize the benefit of these opportunities, the region has experienced an increase in collaborations, mergers, and acquisitions. Additionally, the development of new technologies and deployment alternatives has been the main driving force behind these investments.

Key players in the market:

Some of the key players in Digital Process Automation market include: Oracle Corporation, Ayehu Software Technologies, DST Systems Inc., Infosys Limited, OpenText Corporation, Bizagi Group Limited, IBM Corporation, TIBCO Software Inc., SS&C Technologies, Inc, Software AG, Appian Corporation, Cognizant, Pegasystems, Open Text Corporation and Newgen Software.

Key Developments:

• In March 2023, leading network provider in Egypt, Telecom Egypt (TE), announced that it is collaborating with IBM to integrate intelligent automation technologies to provide a unified solution for all of its operations support systems (OSS) across mobile, fixed, and core networks.

• In July 2022, Oracle Fusion Sales, a sales automation tool that locates high-quality sales opportunities and helps sellers close deals more quickly, has just received an update, according to Oracle.

Components Covered:

• Services
• Solution

Business Functions Covered:

• Marketing Automation
• Claims Automation
• Supply Chain Automation
• Sales Process Automation

Organization Sizes Covered:

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

Deployment Types Covered:

• Cloud
• On Premises

Applications Covered:

• Transport & Logistics
• Telecom & IT
• Banking, Financial Services and Insurance (BFSI)
• Retail & Consumer Goods
• Manufacturing
• Consumer Electronics
• Other Applications

End Users Covered:

• Government
• Healthcare
• Travel & Hospitality
• Media & Entertainment
• Energy & Utility
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances