Digital Process Automation Market Size - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Digital Process Automation Market is segmented by Component (Solution, Service), Deployment (On-demand, On-premises), Organization Size (Small- and Medium-sized Enterprises, Large Enterprises), End User (Banking, Financial Services, and Insurance (BFSI), Manufacturing, IT and Telecommunication, Aerospace and Defense, Healthcare, Retail and Consumer Goods), and Geography.

  • ABOUT THIS REPORT
    • Market Snapshot
    • Market Overview
    • Scope of the Report
    • Key Market Trends
    • Competitive Landscape
    • Major Players
  • TABLE OF CONTENTS

Market Snapshot

Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

12.98 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The digital process automation market was valued at USD 7.8 billion in 2020 and is expected to reach a value of USD 16.12 billion by 2026 at a CAGR of 12.98 %, during the forecast period (2021 - 2026). As new technologies are trending and accelerating, the merging of the virtual and physical worlds are enabling the creation of new business models. Manufacturers are introducing new business models under which they are selling digital services along with products, such as digital twins.

  • Due to the increasing demand for automating business, the primary application of a digital process automation tool is focusing at industries requiring an efficient back-end processing management. Thus, increasing establishments of business enterprises, such as BFSI business enterprises, e-commerce retailers, and manufacturing industries.
  • Increase adoption of low code automation platform, as it involves rapid design and development with minimal amounts of coding with greater accessibility, is often relying on third-party application programming interfaces (APIs).

Scope of the Report

Digital process automation refers to the use of digital technology to perform a process or processes in order to accomplish a workflow or function, where main drivers for the market include the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies. Businesses across the world have been relying on business process management (BPM) for enhancing and managing the back-end activities efficiently and relying on the processes, such as retail lending, customer onboarding, customer support, etc.

 

By Component
Solution
Service
By Deployment
On-demand
On-premise
By Organization Size
Small- and Medium-sized Enterprises
Large Enterprises
By End User
Banking, Financial Services, and Insurance (BFSI)
Manufacturing
IT and Telecommunication
Aerospace and Defense
Healthcare
Retail and Consumer Goods
Other End Users
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Adoption of Business Process Management (BPM) to Drive the Market Growth

  • Digital process automation (DPA) is growing as an important evolution of the traditional category of business process management or BPM. This growth in DPA is due to the rising need for the different businesses to automate the processes as part of extensive digital transformation initiatives.
  • Organizations across different verticals are continually trying to find out new sectors or verticals, through which they can reduce their total operational costs. They have increased their spending on managing their business processes with digitalization, which is expected to drive the DPA market growth.
 

To understand key trends, Download Sample Report

North America to Account for a Significant Market Share in the Market

  • Due to the presence of large digital process automation vendors in the region, North America is expected to significantly contribute to market expansion.
  • The major trends responsible for the growth of DPA market in the region include the diverse packaging that increases demand for advanced sensing technology, which will directly impact the increase of automated products.
  • The United States is significantly growing due to improved technology and streamlined global supply chains/logistics. This emergence of international logistics networks means that the United States manufacturers can now efficiently and effectively deliver the finished products and raw materials anywhere around the world.
  • This trend has massively increased the economic opportunities of US manufacturers and international competitors. Robotic process automation (RPA) is one key technology that is enabling companies to address the fast pace of change across all areas of business. RPA provides virtual agents to automate tasks, processes, and workflows for complex work.

To understand geography trends, Download Sample Report.

Competitive Landscape

The digital process automation market is moving toward the fragmented market as the rivalries are heating up, because entry and exit barriers are going down due to the comparative low-cost of digital business models, and in many cases, new entrants do not even need to own physical assets or infrastructure. New product launches and focuses on continuous technology innovations are some strategies adopted by the major players. Key players are IBM Corporation, Pegasystems Inc., Appian Corporation, Oracle Corporation, etc. Recent developments in the market are -

  • Mar 2019 - Appian announced the next release of its low-code platform, which will make it easier than ever to build powerful enterprise applications up to 20x faster. The new version accelerates development and expands low-code/no-code platform capabilities in a number of key areas, including integration, robotic process automation (RPA), interface design, enterprise mobility, and customer engagement.
  • Dec 2018 - IBM partnered with Blue Prism Company to deliver the digital workforce capabilities. With this partnership, it will help to recognize the opportunity to improve customer experiences, increase productivity, and provide new products and services through intelligent automation.

Major Players

  1. IBM Corporation
  2. Pegasystems Inc.
  3. Appian Corporation
  4. Oracle Corporation
  5. Software AG

You can also purchase parts of this report. Do you want to check out a section wise price list?

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increase Demand of Automating Business Process for Efficient Back-end process

      2. 4.3.2 Increase Adoption of Low Code Automation for Greater Accessibility

    4. 4.4 Market Restraints

      1. 4.4.1 Lack of Skilled Workforce

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Solution

      2. 5.1.2 Service

    2. 5.2 By Deployment

      1. 5.2.1 On-demand

      2. 5.2.2 On-premise

    3. 5.3 By Organization Size

      1. 5.3.1 Small- and Medium-sized Enterprises

      2. 5.3.2 Large Enterprises

    4. 5.4 By End User

      1. 5.4.1 Banking, Financial Services, and Insurance (BFSI)

      2. 5.4.2 Manufacturing

      3. 5.4.3 IT and Telecommunication

      4. 5.4.4 Aerospace and Defense

      5. 5.4.5 Healthcare

      6. 5.4.6 Retail and Consumer Goods

      7. 5.4.7 Other End Users

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Rest of Asia-Pacific

      4. 5.5.4 Latin America

      5. 5.5.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 IBM Corporation

      2. 6.1.2 Bizagi Group Limited

      3. 6.1.3 Pegasystems Inc.

      4. 6.1.4 Appian Corporation

      5. 6.1.5 Oracle Corporation

      6. 6.1.6 Software AG

      7. 6.1.7 DST Systems Inc.

      8. 6.1.8 OpenText Corporation

      9. 6.1.9 Newgen Software Technologies Ltd.

      10. 6.1.10 TIBCO Software Inc.

    7. *List Not Exhaustive

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Related Reports

    LINKS

    CONTACT

    Location Logo

    5th Floor, Rajapushpa Summit

    Nanakramguda Rd, Financial District, Gachibowli

    Hyderabad, Telangana - 500008

    India

    Phone Logo

    +1 617-765-2493

    Email Logo[email protected]

    JOIN US

    We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination.

    Interested? Please email us

    [email protected]

    © 2020. All Rights Reserved to Mordor Intelligence.