Digital Process Automation Market Dynamics, Trends, Opportunities and Future Projections | 2031
Digital Process Automation Market
A surge in adoption of the low-code automation platform drives the growth of the global digital process automation market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 17, 2024 /EINPresswire.com/ -- 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.
Digital Process Automation (DPA) refers to the use of digital technology to automate business processes, tasks, and workflows. It involves the integration of various technologies such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), business process management (BPM), and other tools to streamline and optimize business operations.
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The goal of DPA is to reduce manual effort, eliminate repetitive tasks, improve efficiency, enhance accuracy, and accelerate the pace of business processes. By automating routine tasks, organizations can free up human resources to focus on more value-added activities, enhance customer experience, and achieve better business outcomes.
DPA encompasses a wide range of processes across different industries, including finance, healthcare, manufacturing, customer service, human resources, and more. It involves identifying opportunities for automation, designing automated workflows, implementing the necessary technology solutions, and continuously monitoring and optimizing processes for maximum efficiency and effectiveness.
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.
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The DPA market is expected to continue its growth trajectory in the coming years, fueled by ongoing digital transformation initiatives, the need for operational efficiency, and the advancement of technologies such as AI and ML. As businesses seek to improve agility, innovate faster, and deliver superior customer experiences, DPA will remain a critical enabler of these objectives. Additionally, the increasing focus on low-code/no-code platforms is democratizing automation, allowing business users to create and manage automated processes without extensive programming knowledge. However, market growth might also face challenges such as data security concerns, integration complexities with legacy systems, and the need for skilled professionals to implement and manage DPA solutions effectively.
Digital Process Automation (DPA) is a rapidly evolving field, driven by the need for businesses to streamline operations, increase efficiency, and enhance customer experiences. Here are some trends that have been shaping the DPA market:
1. Hyperautomation: Hyperautomation refers to the use of advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), Robotic Process Automation (RPA), and process mining to automate processes to the maximum extent. This trend involves not just automating repetitive tasks but also integrating data, decision-making, and end-to-end processes. Businesses are increasingly adopting hyperautomation to drive efficiency gains across their organizations.
2. Intelligent Process Automation (IPA): Intelligent Process Automation combines traditional RPA with AI and ML capabilities to make automation smarter. IPA solutions can handle unstructured data, learn from patterns, make decisions, and continuously improve processes. This trend is about creating adaptable, self-learning systems that can optimize processes in real-time.
3. Customer Experience (CX) Focus: DPA is being leveraged to enhance customer experiences by streamlining processes that directly impact customer interactions. From onboarding to support, businesses are using automation to ensure seamless, personalized, and efficient customer journeys.
4. Low-Code/No-Code Platforms: The rise of low-code and no-code platforms has democratized the development of automation solutions. These platforms allow business users with little or no programming knowledge to create and deploy automation workflows. This trend speeds up the development cycle and empowers teams across the organization to automate processes.
5. Integration with Legacy Systems: Many organizations still rely on legacy systems, and integrating these with modern DPA solutions is a key trend. DPA tools are evolving to offer better compatibility and integration capabilities, enabling businesses to leverage automation without completely overhauling their existing infrastructure.
6. Focus on Security and Compliance: As automation becomes more prevalent, ensuring data security and compliance with regulations is crucial. DPA solutions are incorporating robust security features, encryption, access controls, and audit trails to protect sensitive data and ensure regulatory compliance.
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Depending on enterprise size, the large enterprise segment garnered largest share in 2022 and is expected to continue this trend during the forecast period. This is attributed to owing to advance analytics as it helps in analyzing automation data to enhance an organization’s workforce performance is expected to drive market growth. However, the small and medium-sized enterprises segment is expected to witness the highest growth in the upcoming years. the increasing use to help companies of all sizes solve their business problems. As, small business features, pricing, setup, and installation differ from businesses of other sizes, where companies provide customized solutions right small business digital process automation to fit specialized needs.
Region-wise, North America held a significant global digital process automation market share, due to the region’s increasing demand for enhanced end-user services, U.S. and Canada currently dominate the regional market for North America. The main drivers of the growth of the digital process automation market in this region is increase in the integration of artificial intelligence (AI) and machine learning (ML) in automation and surge in adoption of the low-code automation platform are the primary factors that drive the growth of the digital process automation market forecast in Asia-Pacific, North America, Europe, and LAMEA.
Key players profiled in the report include Appian, Cognizant, SS&C Technologies, Inc., IBM Corporation, Infosys Limited, LTIMindtree Limited, Open Text Corporation, Oracle Corporation, Software AG, and Pegasystems Inc. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the digital process automation market. For instance, in August 2021, Software AG collaborated with Automation Anywhere, to make scalable automation achievable for more businesses. Software AG’s ARIS platform bookend Automation Anywhere with process mining and process management. This improves the discovery of digital process automation opportunities and then management of automated processes. Such developments supported the growth of digital process automation market.
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1 https://www.alliedmarketresearch.com/digital-process-automation-market
2 https://www.alliedmarketresearch.com/hyperautomation-market-A31470
