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Digital Process Automation Market Size to Grow USD 11770 Million by 2028 at a CAGR of 8.5% | Valuates Reports

·9 min read

BANGALORE, India, Sept. 23, 2022 /PRNewswire/ -- The Global Digital Process Automation Market is Segmented by Type (Solution, Services), by Application (Retail & Consumer Goods, BFSI, IT & Telecom, Transport & Logistics, Energy & Utility, Media & Entertainment, Healthcare): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Software Category.

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The global Digital Process Automation market size is projected to reach USD 11770 Million by 2028, from USD 6451.8 Million in 2021, at a CAGR of 8.5% during 2022-2028.

Major Factors Driving the growth of the Digital Process Automation market are:

The digital process automation market is anticipated to increase as a result of rising automation demand and rising low code automation platform adoption.

Digital process automation solutions and services offer several benefits to enterprises. These advantages include reducing unavoidable losses, generating new possibilities, reducing expenses, and boosting the effectiveness of business operations.

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The banking, financial, and insurance industries face many issues, including rising costs, a lack of talented people, outmoded banking practices, data breaches, and an onslaught of laws. BFSI must make use of the enormous advantages of digital process automation if it is to remain on top of these problems. Robotic process automation is a type of software-based automation that is more effective than humans at carrying out repetitive tasks. Digital process automation makes it possible to process massive amounts of data more quickly, accurately, and affordably. Additionally, these institutions can simply automate high-volume workflows, track crucial accounts, do security checks, and even improve client experiences with the help of digital process automation. This in turn is expected to drive the growth of the Digital Process Automation Market

Better Compliance with Regulations Meeting strict compliance rules is a difficult issue for firms in the banking, finance, and insurance sectors. Digital Process Automation assists in addressing some of the main requirements of regulatory compliance by automating repetitive and routine processes. Banks can handle reconciliation, fraud and risk, quality assurance processing, regulatory monitoring, and compliance reporting by utilizing the potential of digital process automation.

By optimizing workflow to support important business initiatives, digital process automation aids enterprises in changing the way they conduct business. With no new code required, the solutions and services enable enterprises to quickly create and implement novel applications or solutions. Low-code development unites business and IT to swiftly and cooperatively produce new customer-facing applications. Organizations must rely on software developers because the conventional way of developing software/applications takes a long time. The traditional approaches also impede an organization's ability to react swiftly to changes in the market and shift client expectations on an enterprise scale. Organizations can constantly enhance the customer experience, develop more quickly, and generate more income thanks to low-code automation platforms. This factor is expected to drive the growth of the Digital Process Automation Market.

The need to create more sophisticated and intuitive customer experiences is expected to drive the growth of the Digital Process Automation Market. Organizations can use digital process automation to expand on their investments in data, systems, and APIs to develop more sophisticated and user-friendly customer journeys.

Cost savings are still being experienced by many DPA users, despite the fact that this is not their primary objective. The beauty of digital process automation is that cost savings and better client experiences go hand in hand. This is expected to further drive the Digital Process Automation Market. Customers frequently enjoy speedier and more transparent experiences as a result of cost-cutting efficiency.

The anxiety and anguish of having to replace legacy technologies are one of the biggest barriers to completing the digital transformation. To improve client experiences without having to give up what they already have, digital process automation technologies can wrap legacy systems with a process-centric application layer that empowers staff and boosts agility.

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Based on type, the service segment is expected to be the most lucrative. The software life cycle, which also encompasses deployment, integration, product upgrade, maintenance, training, and consulting, incorporates services as a crucial component.

During the forecast period, the BFSI segment will hold the greatest market share. Demand for this market segment is being fueled by aspects related to the benefits of digital process automation, such as effective processing and output, decreased time delays, and improved security.

Due to the presence of significant digital process automation suppliers in the area, North America is anticipated to have the greatest market size throughout the projection period. When it comes to the adoption of new technologies and the optimization of IT infrastructure, this region is likewise regarded as one of the most advanced.

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Key Companies:

  • IBM

  • Pegasystems

  • Appian

  • Oracle

  • Software AG

  • DST Systems

  • Opentext

  • Dxc Technology

  • Infosys

  • Cognizant

  • Mindtree

  • Newgen Software

  • Tibco Software

  • K2

  • Bizagi

  • Nintex

  • Ayehu Software Technologies

  • Integrify

  • Helpsystems

  • Innov8tif

  • Novatio Solutions

  • Bonitasoft

  • Cortex

  • PMG

  • Blue-Infinity

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Global Digital Process Automation (DPA) Software Market Insights, Forecast to 2028

Global Process Automation Systems Market Insights and Forecast to 2026

-  The global Business Process Automation (BPA) market size is projected to reach USD 16070 Million by 2028, from USD 8122.3 Million in 2021, at a CAGR of 10.1% during 2022-2028.

Global Robot Process Automation (RPA) Market Size, Status and Forecast 2022

-  The global Building Automation market size is projected to reach USD 59630 Million by 2028, from USD 40980 Million in 2021, at a CAGR of 5.4% during 2022-2028.

-  The global Factory Automation market size is expected to reach USD 368,372.4 Million in 2025, from USD 190,882.2 Million in 2017 growing at a CAGR of 8.8% from 2018 to 2025.

-  The global Industrial Automation market size is projected to reach USD 212410 Million by 2027, from USD 130710 Million in 2020, at a CAGR of 6.7% during 2021-2027.

-  The global Home Automation System market size is projected to reach USD 92770 Million by 2027, from USD 48720 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period 2021-2027.

-  The global Automation Testing market size is projected to reach USD 21870 Million by 2028, from USD 10750 Million in 2021, at a CAGR of 10.2% during 2022-2028.

-  Due to the COVID-19 pandemic, the global Lab Automation market size is estimated to be worth USD 13760 Million in 2022 and is forecast to a readjusted size of USD 19820 Million by 2028 with a CAGR of 6.3% during the forecast period 2022-2028.

-  The global Marketing Automation market size is projected to reach USD 4697.1 million by 2028, from USD 2745.6 million in 2021, at a CAGR of 7.9% during 2022-2028.

-  The global Enterprise Resource Planning (ERP) Software market size is projected to reach USD 60110 Million by 2027, from USD 40830 Million in 2020, at a CAGR of 5.7% during 2021-2027.

-  The global Chatbots market size is projected to reach USD 3892.1 Million by 2028, from USD 1079.9 Million in 2021, at a CAGR of 20.0% during 2022-2028.

-  The intelligent virtual assistant market size was valued at USD 3,442 Billion in 2019, and is projected to reach USD 44,255 Billion by 2027, growing at a CAGR of 37.7% from 2020 to 2027.

-  The global Metaverse market size is projected to reach USD 28 Billion by 2028, from 510 USD Million in 2022, at a CAGR of 95% during 2022-2028.

-  Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Application Modernization Services market is projected to reach USD 50440 Million by 2028 from an estimated USD 21690 Million in 2022, at a CAGR of 15.1% during 2023 and 2028.

-  The global IT Asset Disposition (ITAD) market size is projected to reach USD 15920 Million by 2027, from USD 8391 Million in 2020, at a CAGR of 9.6% during 2021-2027.

-  The global Embedded Analytics market size is projected to reach USD 62100 Million by 2028, from USD 28890 Million in 2021, at a CAGR of 11.4% during 2022-2028.

-  The global Cloud Access Security Brokers market size is projected to reach USD 36770 million by 2027, from USD 7341 million in 2020, at a CAGR of 25.8% during 2021-2027.

-  The global Cloud Database market size is projected to reach USD 68720 Million by 2027, from USD 7054.4 Million in 2020, at a CAGR of 38.2% during 2021-2027.

Global C4ISR Software Market Insights, Forecast to 2028

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Global Chatbot Development Software Market Insights, Forecast to 2028

Click here to see related reports on Digital process automation market


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