According to the report published by Allied Market Research, Digital Process Automation Market Reach USD 42.7 Billion by 2031 Growing with CAGR of 13.2% . These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
Increase in the integration of AI and machine learning in automation and a surge in adoption of the low-code automation platform drive the growth of the global digital process automation market. By component, the solution segment held the major share in 2021. By region, Asia-Pacific would cite the fastest CAGR by 2031.
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The global digital process automation market size was valued at $12.4 billion in 2021, and is projected to reach $42.7 billion by 2031, growing at a CAGR of 13.2% from 2022 to 2031.
The global digital process automation market is analyzed across component, business function, organization size, deployment type, industry verticals, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By organization size, the large enterprises segment accounted for the highest share in 2021, generating around one-third of the global digital process automation market revenue. The small and medium-sized enterprises segment, simultaneously, would portray the fastest CAGR of 14.4% during the forecast period.
By deployment type, the on-premises segment contributed to nearly one-third of the global digital process automation market share in 2021, and is projected to rule the roost by 2031. The cloud segment, on the other hand, would display the fastest CAGR of 14.8% throughout the forecast period.
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By region, North America held the major share in 2021, garnering more than one-third of the global digital process automation market revenue. The Asia-Pacific region would also showcase the fastest CAGR of 15.8% from 2022 to 2031. The other provinces assessed through the report include Europe and LAMEA.
The key market players analyzed in the global digital process automation market report include Appian, Cognizant, SS&C Technologies, Inc., IBM Corporation, Infosys Limited, LTIMindtree Limited, Open Text Corporation, Oracle Corporation, Software AG, and Pegasystems Inc.
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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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