Digital process automation refers to the process of replacing redundant human workforce with digital automation solutions that can take on the task of running a given workflow smoothly. Automation has become the need of the hour in the business world due to the need to get things done quickly as well as the need to ensure minimal errors in the workflow.
The low cost of digital process automation platforms is another key driver for the global digital process automation market. The low cost of software platforms has made it possible for companies to tackle their core functionalities with maximum efficiency. This has made automation solutions highly popular in a wide range of end-use industries.
On the other hand, lack of technical expertise and issues concerning data privacy and security are likely to hold back the global digital process automation market
The report segments the global digital process automation market by services, industry vertical, deployment, organization size, and region.
By services, the digital process automation market is segmented into professional and managed services. Of these, professional services are the dominant segment and are likely to retain the title over the forecast period with the highest growth rate.
By industry vertical, the market is segmented into BFSI, consumer electronics, retail, manufacturing, healthcare, and transportation. Of these, the manufacturing sector holds the largest share in the global digital process automation market at present. However, the retail sector is expected to exhibit the highest growth rate over the forecast period.
By deployment, the digital process automation market is segmented into on-cloud and on-premise deployment. Cloud solutions are likely to remain the popular option in the digital process automation market over the forecast period.
By organization size, the digital process automation market is bifurcated into large enterprises and small and midsized enterprises (SMEs). Of these, large enterprises are the dominant segment at present. However, as more small and midsized enterprises learn about the benefits of digital process automation, they are likely to adopt it in high volume, leading to a higher growth rate for the segment over the forecast period.
The global market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World. Europe is the dominant market at present, while APAC is expected to show the highest growth rate over the forecast period.
Key players in the global digital process automation market are IBM, Oracle, Pegasystems, Appian, Software AG, DST Systems, Opentext Corporation, Dxc Technology, Infosys, Cognizant, Mindtree, Newgen Software, Tibco Software, Bizagi, Nintex, Ayehu Software Technologies, Integrify, Helpsystems, and Innov8tif.
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