Industry Insight
Market Research Future takes into account the impact of the novel COVID-19 pandemic on the global digital process automation market 2020. It offers a clear assessment of the projected market fluctuations during the forecast period (2018–2023) with USD 14 billion from USD 6 billion in 2017. Various factors are likely to impact the overall dynamics of the digital process automation market with a high 15% CAGR in the same forecasted period.
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MRFR also estimates that the rapid pace of digital process transformations in businesses focused on suppliers, customers, and partners are opening new windows of opportunity in the digital process automation market. The rising demand for a low-code automation platform is possible to bolster the demand in various industry verticals during the projected period.
On the flip side, the factor of deficient of technical expertise, coupled with extensive security concerns, is likely to dampen the prospects of the digital process automation market’s growth during the growth phase.
Segmentation of Market
The global Digital Process Automation Market Size has further been segmented along the following lines:
In terms of the services segment, the market has included professional and managed services. Of these, professional services segment commands and are likely to retain the position over the forecast period with the highest growth rate.
In terms of industry vertical segment, the market has included consumer electronics, BFSI, manufacturing, healthcare, retail, and transportation. Among these, the manufacturing sector cleaves to the largest share in the global digital process automation market currently. However, the retail sector might exhibit the highest growth rate over the assessment period.
In terms of the deployment segment, the market comprises of an on-cloud and on-premise deployment. The on-cloud solutions segment is likely to remain the popular option in the digital process automation market over the assessment period.
In terms of organization size segment, the market is bifurcated into large enterprises and small and midsized enterprises (SMEs). Of these, large enterprises are the escorts in the current time. However, as more small and midsized enterprises learning about the benefits of digital process automation, and are likely to approve it in high volume, leading to an elevated growth rate for the segment over the assessment period.
Key Players
The ell-known vital players in the global digital process automation market are IBM, Pegasystems, Appian, Oracle, DST Systems, Software AG, Dxc Technology, Opentext Corporation, Cognizant, Infosys, Newgen Software, Mindtree, Bizagi, Tibco Software, Ayehu Software Technologies, Nintex, Helpsystems, Integrify, and Innov8tif.
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