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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Digital process automation is defined as the process of creating, automating, and optimizing business processes using advanced digital tools such as low-code development solutions. The goal of digital process automation is to eliminate human intervention in business processes, freeing up employees to focus on higher value-added tasks. Key principles of digital process automation include maintaining transparency about processes, automating customer tasks, triggering notifications and reminders, and creating an atmosphere of collaboration.

Based on the 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.

On the basis of the industry, the market is segmented into banking & financial services, manufacturing, information & communication technology, aerospace & defense, healthcare, and others. The banking and financial services industry is expected to grow strongly during the forecast period. This growth can be attributed to the advantages associated with digital process automation for banking and financial services, such as greater accuracy and efficiency, scalability, better investments, service flexibility, and others. Moreover, digital process automation reduces human errors and the time needed to complete various tasks to maximize cost savings, which results in better business outcomes and lower operational costs.

Asia-Pacific to lead the growth during the forecast period

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 other factors helping the Asia-Pacific digital process automation market grow rapidly.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share IBM, Appian, Open Text Corporation, Bizagi, DXC Technology Company, Infosys Limited, Oracle, Pegasystems Inc., TIBCO Software Inc., and Software AG.

“Global Digital Process Automation Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.     By Component (Solutions and Services)

2.     By Business Function (Sales Process Automation, Supply Chain Automation, Claims Automation, and Marketing Automation)

3.     By Deployment Type (On-premises and Cloud)

4.     By Organization Size (Large Enterprises and SMEs)

5.     By Industry (Banking and Financial Services, Manufacturing, Information and Communication Technology, Aerospace and Defense, Healthcare, and Others)

6.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

7.     By Company (IBM, Appian, Open Text Corporation, Bizagi, DXC Technology Company, Infosys Limited, Oracle, Pegasystems Inc., Cloud Software Group Inc., and Software AG)

Key questions answered in the study:

1.     What are the current and future trends of the global digital process automation industry?

2.     How the industry has been evolving in terms of component, business function, deployment type, organization size, and industry?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global digital process automation industry?

5.     What are the customer orientation, purchase behavior, and expectations from global digital process automation suppliers across various regions and countries?

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