USD 12.40 billion
Global Digital Process Automation Market Size, Share, Growth Analysis, By Component(Solution, Services), By Deployment(Sales process automation, Supply chain automation), By Enterprise size(Large enterprises, Small and Medium-size enterprises), By Industry vertical(BFSI, consumer goods and retail) - Industry Forecast 2024-2031
Report ID:
SQMIG45F2130 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
119 |
Figures:
72
Global Digital Process Automation Market Insights
Global Digital Process Automation Market size was valued at USD 12.40 billion in 2021 and is poised to grow from USD 13.96 billion in 2022 to USD 36.07 billion by 2030, growing at a CAGR of 12.6% in the forecast period (2023-2030).
The digital process automation market is poised for substantial growth, primarily propelled by the surging demand for automation and the widespread adoption of low code automation platforms. However, this expansion isn't without challenges. The market contends with compatibility issues concerning existing business process applications and services, posing hurdles to seamless integration.
One of the significant inhibiting factors lies in data security and privacy concerns, particularly as process automation involves handling sensitive personal data. Despite these challenges, several opportunities abound in this landscape. There's a rising need for streamlining business processes, presenting a ripe environment for innovation. Moreover, the integration of Artificial Intelligence (AI) and Machine Learning (ML) stands as a promising avenue, offering avenues to enhance automation capabilities and efficiency within the market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Service
Growth Rate
12.6% CAGR
Global Digital Process Automation Market ($ Bn)
Country Share for North America Region (%)
Global Digital Process Automation Market By Component (%)
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Global Digital Process Automation Market Segmental Analysis
The global digital process automation market is segmented on the basis of component, business function, deployment type, enterprise size, industry vertical. On the basis of component the market is segmented as solution, services. On the basis of deployment type the market is segmented as sales process automation, supply chain automation, claims automation, marketing automation. On the basis of enterprise size the market is segmented as large enterprises, small and medium-size enterprises. On the basis of industry vertical the market is segmented as BFSI, consumer goods and retail, energy and utilities, media and entertainment, IT and telecom, others. Geographically, the market is studied for five major regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Analysis by Component
In 2022, the solution segment asserted dominance in the digital process automation (DPA) market share, a trend projected to persist through the forecast period. This stronghold is attributed to the escalating demand for digital process automation solutions, driven by their inherent capacity to significantly reduce time consumption in managing and monitoring operations. These solutions offer a compelling balance, ensuring heightened security measures, robust governance frameworks, and uninterrupted availability. Their efficacy lies in streamlining processes while concurrently fortifying essential aspects like security protocols and operational oversight.
The service segment is anticipated to experience the most substantial growth within the realm of digital process automation. This surge is attributed to the pervasive adoption of digital process automation services, which inherently offer a multitude of benefits across industry verticals. These services play a pivotal role in deploying and optimizing tools designed for workflow automation. Their significance lies in the comprehensive support they provide throughout the entire process, from initial implementation to ongoing maintenance and optimization.
Analysis by Industry Vertical
The BFSI segment is experiencing rapid growth at a notable CAGR of 21.3% projected over the forecast period in 2022. Within this domain, digital process automation (DPA) emerges as a potent tool empowering BFSI institutions to elevate operational efficiency, curtail expenses, and enhance customer satisfaction. Its application within these institutions extends to automating the entire loan processing cycle, spanning from application to disbursal, encompassing critical stages like underwriting, credit evaluations, and document verification.
The energy and utilities segment holds a pivotal role within the digital process automation (DPA) market, leveraging automation to revolutionize operations and infrastructure management. DPA plays a crucial role in this sector by streamlining and optimizing various processes, ranging from energy generation and distribution to utility management and maintenance. Through sophisticated automation tools, energy and utility companies can enhance the monitoring and control of their systems, ensuring efficient resource allocation, proactive maintenance, and rapid response to fluctuating demands.
Global Digital Process Automation Market By Component , 2023 (%)
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Global Digital Process Automation Market Regional Insights
North America is poised to take the lead as the primary revenue contributor in the digital process automation (DPA) market during the forecast period. This region encompasses technologically advanced countries such as the United States and Canada, renowned for their technological prowess on a global scale. The burgeoning market growth in North America is propelled by the pervasive adoption of digital technologies and a pressing need for process automation aimed at enhancing operational efficiency and curbing expenses.
The Asia-Pacific stands as the second-largest burgeoning market globally, particularly in the realm of digital process automation (DPA). This growth trajectory finds its impetus in several key factors, notably the escalating adoption of digital technologies, a surging appetite for cloud-based solutions, and a compelling need for process automation to fortify business agility and enrich customer experiences. However, amidst this promising landscape, organizations encounter certain challenges. Among these challenges are the requisites for specialized skills crucial for the effective implementation and maintenance of DPA solutions.
Global Digital Process Automation Market By Region, 2024-2031
- Largest
- Fastest
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Global Digital Process Automation Market Dynamics
Drivers
Increasing Adoption of the Low-code Automation Platform
- Digital process automation serves as a catalyst for organizational transformation, revolutionizing operational methodologies by streamlining workflows that drive essential business initiatives. Through its suite of solutions and services, it empowers organizations to expedite the development and implementation of cutting-edge applications or solutions without the necessity for fresh lines of code. The integration of low-code development bridges the gap between business objectives and IT capabilities, facilitating the swift creation of customer-centric applications in a collaborative environment.
Restraints
Lack of Technical Expertise
- In today's landscape, organizations leverage sophisticated technologies like the industrial internet and advanced analytics, which demand profound technological expertise for effective implementation. Similarly, process automation, while streamlining operations, can present varying degrees of complexity contingent upon the automation type deployed. To effectively harness digital process automation solutions and services, individuals require a blend of technical proficiency and analytical acumen. These skill sets enable them to stay abreast of the latest solutions and methodologies employed within the field.
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Global Digital Process Automation Market Competitive Landscape
The competitive environment of the global Digital Process Automation market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- IBM Corporation
- Appian Corporation
- Pegasystems Inc.
- Microsoft Corporation
- UiPath Inc.
- Automation Anywhere
- Red Hat Inc.
- Bizagi
- K2
- Nintex
- AgilePoint Inc.
- Blue Prism
- BP Logix
- ServiceNow Inc.
- Cognizant
Recent Developments
- In March 2023, Telecom Egypt (TE), a prominent network provider in the country, unveiled a strategic collaboration with IBM aimed at integrating intelligent automation technologies into its operations support systems (OSS). This partnership entails leveraging IBM Cloud Pak for Watson AIOps, operating on RedHat OpenShift, and implementing IBM Robotic Process Automation (RPA) solutions across TE's mobile, fixed, and core networks. The envisioned solution is poised to offer TE a comprehensive view of its entire IT infrastructure, empowering the company to innovate swiftly, curtail operational expenses, and markedly reduce troubleshooting and resolution times for network-related events.
- In February 2022, Nokia and Atos initiated a global collaboration focused on delivering cutting-edge 4/5G private wireless networking solutions and associated digital services for enterprises. This joint venture aims to foster novel working methodologies, fostering increased operational efficiency for businesses. By uniting the strengths of both companies in edge and cloud computing, the combined product, hosted on servers from Atos or Nokia, is tailored to support businesses navigating the transition to the 4.0 industrial revolution. This collaboration not only promises advanced technological solutions but also signifies a concerted effort to empower enterprises with the tools needed to thrive in an era of transformative technological evolution.
Global Digital Process Automation Key Market Trends
- Acknowledging the imperative for innovation and recognizing the constraints of prevailing technologies, organizations across diverse sizes, structures, and business models are increasingly adopting digital process automation solutions. This transformative approach has enabled companies to seize fresh opportunities, broadening their array of products and services while consolidating multiple solutions onto a unified platform. Leveraging robotic process automation bolstered by the foundation of AI and machine learning grants organizations a formidable competitive advantage. This integration leads to the elimination of manual tasks, reduction in staffing expenses, and mitigation of human errors, thereby optimizing operational efficiency and enhancing overall productivity.
Global Digital Process Automation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Digital Process Automation marketplace analysis exhibits a dynamic marketplace with some of standout developments and problems. Enhancing operational effectiveness and streamlining business processes stand as paramount objectives for organizations spanning diverse industries. This pronounced focus on efficiency serves as a driving force behind the escalating demand for digital process automation (DPA) solutions. By automating and optimizing manual, repetitive tasks, businesses can substantially mitigate errors, eliminate bottlenecks, and amplify overall process efficiency. Embracing DPA enables organizations to achieve swifter turn-around times, heightened productivity, and significant cost savings by standardizing processes and automating workflows. As companies strive to elevate customer experiences, pursue operational excellence, and retain competitiveness in a dynamically evolving market, the anticipated surge in the need for DPA solutions reflects an inherent recognition of its pivotal role in navigating these objectives and fostering sustained growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.40 billion |
| Market size value in 2031 | USD 36.07 billion |
| Growth Rate | 12.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Digital Process Automation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Digital Process Automation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Digital Process Automation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Digital Process Automation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Digital Process Automation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Digital Process Automation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Digital Process Automation Market Report Snapshots
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