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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.
Study Period:
2018 - 2026
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
North America
CAGR:
12.98 %
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.
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.
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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 | ||||||
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Latin America | ||||||
Middle East & Africa |
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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 -
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase Demand of Automating Business Process for Efficient Back-end process
4.3.2 Increase Adoption of Low Code Automation for Greater Accessibility
4.4 Market Restraints
4.4.1 Lack of Skilled Workforce
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Component
5.1.1 Solution
5.1.2 Service
5.2 By Deployment
5.2.1 On-demand
5.2.2 On-premise
5.3 By Organization Size
5.3.1 Small- and Medium-sized Enterprises
5.3.2 Large Enterprises
5.4 By End User
5.4.1 Banking, Financial Services, and Insurance (BFSI)
5.4.2 Manufacturing
5.4.3 IT and Telecommunication
5.4.4 Aerospace and Defense
5.4.5 Healthcare
5.4.6 Retail and Consumer Goods
5.4.7 Other End Users
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Rest of Asia-Pacific
5.5.4 Latin America
5.5.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Bizagi Group Limited
6.1.3 Pegasystems Inc.
6.1.4 Appian Corporation
6.1.5 Oracle Corporation
6.1.6 Software AG
6.1.7 DST Systems Inc.
6.1.8 OpenText Corporation
6.1.9 Newgen Software Technologies Ltd.
6.1.10 TIBCO Software Inc.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability