digital process automation software market

digital process automation software market Forecast 2023

digital process automation software market ReportForecast 2023

digital process automation software market Forecast 2023

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digital process automation software market Forecast 2023

Summary

Digital process automation refers to the process of replacing redundant human workforce with digital automation solutions that can take on the task of running a given workflow smoothly. Automation has become the need of the hour in the business world due to the need to get things done quickly as well as the need to ensure minimal errors in the workflow. digital process automation software market takes care of both these challenges, presenting business entities with a smoothly functioning work unit at the minimum possible cost. The global digital process automation software market is expected to exhibit a stellar 15% CAGR over the 2017-2023 forecast period, growing from USD 6 billion in 2017 to USD 14 billion by 2023.

The major driver for the global digital process automation software market is the rising demand for automation in enterprises. All over the world, enterprises are realizing the benefits of automation to their workflow and are thus going after automation solutions. Automation solutions can free up an organization’s valuable human resources to contribute more productively and more directly to the company’s strategic vision. Day-to-day menial tasks can be handed over to automation solutions, leaving an organization’s human capital free to produce more creative work.

The low cost of digital process automation platforms is another key driver for the global digital process automation software market. The low cost of software platforms has made it possible for companies to tackle their core functionalities with maximum efficiency. This has made automation solutions highly popular in a wide range of enduse industries.

On the other hand, lack of technical expertise and issues concerning data privacy and security are likely to hold back the global digital process automation software market

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digital process automation software market Forecast 2023

Major Key Players:

Key players in the global digital process automation software market are IBM, Oracle, Pegasystems, Appian, Software AG, DST Systems, Opentext Corporation, Dxc Technology, Infosys, Cognizant, Mindtree, Newgen Software, Tibco Software, Bizagi, Nintex, Ayehu Software Technologies, Integrify, Helpsystems, and Innov8tif.

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digital process automation software market

Forecast 2023 Segmentation:

The report segments the global digital process automation software market by services, industry vertical, deployment, organization size, and region.

By services, the digital process automation software market is segmented into professional and managed services. Of these, professional services are the dominant segment and are likely to retain the title over the forecast period with the highest growth rate.

By industry vertical, the market is segmented into BFSI, consumer electronics, retail, manufacturing, healthcare, and transportation. Of these, the manufacturing sector holds the largest share in the global digital process automation software market at present. However, the retail sector is expected to exhibit the highest growth rate over the forecast period.

By deployment, the digital process automation software market is segmented into oncloud and on-premise deployment. Cloud solutions are likely to remain the popular option in the digital process automation software market over the forecast period.

By organization size, the digital process automation software market is bifurcated into large enterprises and small and midsized enterprises (SMEs). Of these, large enterprises are the dominant segment at present. However, as more small and midsized enterprises learn about the benefits of digital process automation, they are likely to adopt it in high volume, leading to a higher growth rate for the segment over the forecast period.

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digital process automation software market Forecast 2023

Regional Analysis: Every effort is made to ensure the use of correct data at Market Research Future.

Primary interviews are conducted with leading industry entities and supplemented by secondary research in order to deliver a comprehensive picture of the market’s trends and dynamics. We adhere to a carefully developed set of standards in order to maintain a high standard in delivering a complete picture of the market. The market is estimated top to bottom with the help of credible resources, in order to ensure consistency with the market’s ground conditions.

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Copyright Š 2017 Market Research Future.