Global Digital Process Automation Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033

The digital process automation market size has grown rapidly in recent years. It will grow from $12.68 billion in 2023 to $14.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to legacy system modernization, cost reduction initiatives, regulatory compliance requirements, customer experience improvement, business agility and adaptability.

The digital process automation market size is expected to see rapid growth in the next few years. It will grow to $24.29 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to hyperautomation strategies, rise of low-code and no-code platforms, cloud-based dpa solutions, focus on employee experience, dynamic case management. Major trends in the forecast period include hyperautomation and intelligent process automation, low-code and no-code platforms, process mining for optimization, integration with robotic process automation (rpa), security and compliance.

Market Overview -
Digital process automation is a method of using digital technology to automate one or more tasks involved in a business process. It uses low-code development tools to automate processes and eliminate human intervention in business processes. Digital process automation enhances efficiency, reduces errors, and enables organizations to respond quickly to changing business needs.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13229&type=smp

Impact Of Cloud-Based Solutions On The Growth Of Digital Process Automation
The rise in the adoption of cloud-based solutions is expected to propel the growth of the digital process automation market going forward. A cloud-based solution is a concept for providing on-demand access to a shared pool of configurable applications and services that can be quickly deployed and delivered via the internet with low administration work. Digital process automation providers offer services to a broader customer base by leveraging cloud infrastructure, eliminating the need for extensive hardware or on-premises installations, and lowering the barriers to entry for businesses looking to incorporate AI into their operations, as they can easily access AI capabilities through a subscription-based model. For instance, in April 2023, according to the Office of Communications, a UK-based intergovernmental organization, global end-user spending on public cloud services is expected to rise by 20.7% from 2022 to 2023, reaching £477.7 billion ($524.41 billion) from 2022 to £395.7 billion ($434.40billion) in 2023. Furthermore, in December 2021, according to an article published by Eurostat, a Luxembourg-based statistics body for the European Union, 41% of organizations reported using cloud computing services in 2021, a 5-%age point (pp) increase from 36% in 2020. Therefore, the increasing adoption of artificial intelligence (AI) is driving the growth of the digital process automation market.

Competitive Landscape -
Major companies operating in the digital process automation market report are Microsoft Corporation, Infosys Limited, Siemens AG, General Electric Company, Panasonic Holdings Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, SAP SE, ABB Ltd., Cognizant, Rockwell Automation Inc., ServiceNow Inc., Yaskawa Electric Corporation, OpenText Corporation, NICE Systems Ltd., Pegasystems Inc., Software AG, TIBCO Software Inc, UiPath, Automation Anywhere, Appian Corporation, Nintex Global Ltd., K2 Partnering Solutions, Bizagi, Laserfiche, Zapier, BP Logix Inc.

Increasing Focus On Launching IOT-Enabled Open Digital Business Platform To Gain A Competitive Edge
Major companies operating in the digital process automation market are integrating their efforts to launch IoT-enabled open digital business platforms, such as Siemens Xcelerator, to gain a competitive edge. It is a platform that gives companies access to tools and services that let them digitize their processes, automate work, and enhance client experiences. For instance, in June 2022, Siemens AG, a Germany-based automation company, launched the Siemens Xcelerator. This open digital business platform enables customers to speed up their digital transformation by providing access to a curated portfolio of IoT-enabled hardware and software. It is a powerful tool that helps organizations of all sizes achieve their business goals and accelerate their digital transformation. It is a one-stop shop where organizations can access all the products and services they need to connect their physical systems to the digital world, collect and analyze data, and automate their processes.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/digital-process-automation-global-market-report

Key Segments -
The digital process automation market covered in this report is segmented -
1) By Component: Solution, Service
2) By Deployment: On-Demand, On-Premise
3) By Organization Size: Small And Medium Sized Enterprises, Large Enterprises
4) By End User: Banking, Financial Services, And Insurance (BFSI), Manufacturing, IT And Telecommunication, Aerospace And Defense, Healthcare, Retail And Consumer Goods, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.