Author: Himanshu Patni
February 17, 2023
The Digital Process Automation Market is expected to grow at a strong CAGR of around 12% during the forecast period owing to the increasing demand for automation and the growing adoption of low-code automation platforms. Further on, the expanding volume and variety of business data, and the increasing need for automation across industries are the main factors driving the growth of the digital process automation market. In addition, the growing industrialization and increased adoption of IoT are further contributing to the growth of the market. For instance according to the Centre for the Promotion of Imports from developing countries (CBI Europe), In 2021, there were more than 10 billion active IoT devices in the world. This number is expected to surpass 25.4 billion in 2030. By 2030, approximately 23% of the devices will be located in Europe. 26% in China and 24% in North America.
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Based on component, the market is bifurcated into solutions and services. The solutions segment catered to a significant share of the market in 2020 owing to the benefits associated with digital process automation such as time-saving, cost reduction, customer satisfaction, operation stability, error prevention, easy adaption, and others. The ability of digital process automation to organize and digitize processes makes it easier to adjust and improve. This enables companies to quickly launch new solutions, scale them, and adapt them to market needs.
By business function, the market is categorized into sales process automation, supply chain automation, claims automation, and marketing automation. Among these, the supply chain automation segment is expected to grow at a substantial CAGR during the forecast period. The globalization of business has led companies to adopt supply chain automation solutions to optimize their supply chain processes. Supply chain automation enables businesses to effectively capture and process orders from the earliest stages of planning, configuration, pricing, and order delivery.
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For a better understanding of the market adoption of the digital process automation industry, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, and the Rest of North America), Europe (Germany, The United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia-Pacific digital process automation market is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the large-scale optimization of IT infrastructure, strong government initiatives, and ongoing projects. Moreover, improved technology, streamlined global supply chains, and the emergence of international logistics networks are some other factors helping the Asia-Pacific digital process automation market to grow rapidly.
Some of the major players operating in the market are IBM, Appian, Open Text Corporation, Bizagi, DXC Technology Company, Infosys Limited, Oracle, Pegasystems Inc., Cloud Software Group Inc, and Software AG.
Global Digital Process Automation Market Segmentation
Market Insight, by Component
· Solutions
· Services
Market Insights, by Business Function
· Sales Process Automation
· Supply Chain Automation
· Claims Automation
· Marketing Automation
Market Insights, by Deployment Type
· On-premises
· Cloud
Market Insights, by Organization Size
· Large Enterprises
· SMEs
Market Insights, by Industry
· Banking & Financial Services
· Manufacturing
· Information & Communication Technology
· Aerospace & Defense
· Healthcare
· Others
Market Insight, by Region
· North America
o The United States
o Canada
o Rest of North America
· Europe
o Germany
o The United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· IBM
· Appian
· Open Text Corporation
· Bizagi
· DXC Technology Company
· Infosys Limited
· Oracle
· Pegasystems Inc.
· TIBCO Software Inc.
· Software AG
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