Portland, OR , Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global digital process automation market was estimated at $12.4 billion in 2021 and is expected to hit $42.7 billion by 2031, registering a CAGR of 13.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $12.37 Billion |
| Market Size in 2031 | $42.68 Billion |
| CAGR | 13.2% |
| No. of Pages in Report | 326 |
| Segments Covered | Component, business function, organization size, deployment type, industry vertical, and Region. |
| Drivers | Increase in the integration of AI and Machine learning in Automation |
| Surge in adoption of the low-code automation platform | |
| Restraints | Data security and privacy |
| Lack of technical expertise | |
| Opportunities | Surge in proliferation of Robotic Process Automation (RPA) solutions in business practices |
COVID-19 scenario -
- The market witnessed a significant upturn, as much of the world moved online, accelerating a digital transformation that has been underway for decades. Children with at-home internet access began attending class remotely; many employees started working from home, and numerous firms adopted digital business models to maintain operations and preserve some revenue flows.
- Moreover, significant transformational change requires system analysis to integrate information technology, operational technology, automation, and controls to achieve efficient and responsive synchronized production is expected to influence the market during a pandemic.
The global digital process automation market is analyzed across component, business function, organization size, deployment type, industry verticals, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By component, the solution segment held the largest share in 2021, garnering more than two-thirds of the global digital process automation market revenue, and is projected to maintain its dominance by 2031. The services segment, on the other hand, would showcase the fastest CAGR of 15.3% during the forecast period.
By business function, the supply chain automation segment contributed to more than one-third of the global digital process automation market share in 2021, and is projected to rule the roost by 2031. The claims automation segment, on the other hand, would display the fastest CAGR of 15.2% throughout the forecast period. The other segments assessed through the report take in sales process automation, and marketing automation.
By organization size, the large enterprises segment accounted for the highest share in 2021, generating around one-third of the global digital process automation market revenue. The small and medium-sized enterprises segment, simultaneously, would portray the fastest CAGR of 14.4% during the forecast period.
By deployment type, the on-premises segment contributed to nearly one-third of the global digital process automation market share in 2021, and is projected to rule the roost by 2031. The cloud segment, on the other hand, would display the fastest CAGR of 14.8% throughout the forecast period.
By Industry vertical, the BFSI segment accounted for the highest share in 2021, generating around one-fourth of the global digital process automation market revenue. The retail segment, simultaneously, would portray the fastest CAGR of 17.1% during the forecast period. The IT and telecom, healthcare, manufacturing, and other segments are also analyzed through the report.
By region, North America held the major share in 2021, garnering more than one-third of the global digital process automation market revenue. The Asia-Pacific region would also showcase the fastest CAGR of 15.8% from 2022 to 2031. The other provinces assessed through the report include Europe and LAMEA.
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The key market players analyzed in the global digital process automation market report include Appian, Cognizant, SS&C Technologies, Inc., IBM Corporation, Infosys Limited, LTIMindtree Limited, Open Text Corporation, Oracle Corporation, Software AG, and Pegasystems Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
