Market Trends of Digital Process Automation Industry
Small Enterprises are expected to grow at a higher pace on back of growing adoption of Business Process Management (BPM)
- The adoption of BPM solutions helps organizations gain a better understanding of their existing business processes and identifies areas for improvement. Inference suggests that as organizations implement BPM initiatives, they become more aware of the benefits of process automation and optimization. This awareness creates a demand for DPA solutions as organizations recognize the need to automate their processes to achieve greater efficiency, productivity, and agility.
- BPM solutions frequently act as the cornerstone for digital transformation initiatives, helping businesses to integrate and streamline their operations across many divisions and platforms. Inference implies that when businesses embrace BPM, they become more aware of the benefits of complete process orchestration and automation. This insight increases demand for DPA systems that can easily link with BPM platforms, extending automation capabilities and giving businesses access to a whole automation ecosystem.
- BPM initiatives often involve scaling and adapting processes to meet changing small business needs and market dynamics. Inference suggests that organizations recognize the importance of scalable and flexible automation solutions to support their BPM efforts. DPA solutions offer the scalability and flexibility required to automate a wide range of processes, from simple to complex, and accommodate evolving business requirements. The adoption of BPM drives the demand for DPA solutions that can scale and adapt to support the organization's growing automation needs.
- BPM fosters a culture of continuous process improvement, encouraging organizations to regularly evaluate and enhance their processes. Inference suggests that as organizations embrace BPM, they seek automation solutions that support their continuous improvement efforts. DPA solutions enable organizations to monitor, analyze, and optimize their automated processes, driving efficiency gains and performance improvements over time. The adoption of BPM fuels the demand for DPA solutions that facilitate ongoing process improvement and provide analytics and insights for data-driven decision-making.
- During the coronavirus (COVID-19) epidemic, exhibition companies globally stopped some in-person events in 2020 and 2021 in favor of exploring digital formats. According to research conducted in June 2021, 80 percent of global exhibition venues incorporated digital services or products to complement their existing displays. Meanwhile, 45 percent of service provider organizations questioned converting internal procedures and workflows into digital processes.
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North America to Account for a Significant Market Share in the Market
- Due to the region's large digital process automation vendors, North America is expected to contribute significantly to market expansion. The major trends responsible for the growth of the digital process automation 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 United States manufacturers can now efficiently and effectively deliver the finished products and raw materials anywhere around the world.
- The region has witnessed a surge of partnerships, mergers, and acquisitions to capitalize on these possibilities. The fundamental driver of these investments has been the continued growth of new technologies and deployment options.
- In August 2022, Sigma Solve, a technology consulting and software development company that guides clients' visions for digitization, sales growth, system integration, and business process automation, has formed a strategic partnership with Liferay DXP, which will provide a feature-rich platform that puts integrated digital capabilities and innovation in the hands of businesses across North America. Sigma Solve's digital transformation approach integrates perfectly with Liferay's DXP platform.
- This trend has massively increased the economic opportunities of US manufacturers and international competitors. Robotic process automation (RPA) is one key technology enabling companies to address the fast pace of change across all business areas. RPA provides virtual agents to automate tasks, processes, and workflows for complex work.
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