BANGALORE, India, April 19, 2021 /PRNewswire/ -- The Digital Process Automation Market is segmented by Type (Solution, Services), by Application (Manufacturing, Retail & Consumer Goods, BFSI, Telecom & IT, Transport & Logistics, Energy & Utility, Media & Entertainment, Healthcare). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published in Valuates Reports in the Software Category.
The global Digital Process Automation (DPA ) market size is projected to reach USD 11770 million by 2026, from USD 6451.8 million in 2019, at a CAGR of 8.5% during 2021-2026.
Major factors driving the growth of digital process automation market size are:
Digital process automation improves efficiency, reduces costs, and provides much needed flexibility during uncertain business environments.
The increase in cloud-based digital process automation solutions and services fuels the growth of the market.
Greater visibility in identifying areas for business improvement and making agile changes when needed and consistent performance one digitized is propelling the DPA market.
TRENDS INFLUENCING THE DIGITAL PROCESS AUTOMATION MARKET SIZE
DPA offers the agility and insight needed for a holistic approach to business process automation. It enables you to manage the flow of data across your enterprise and makes it easier to identify areas for improvement and make agile changes. This feature of DPA is expected to further drive the digital process automation market size.
The growing use of digital process automation to manage business requirements more cost-effectively is boosting the digital process automation market size. Furthermore, Cloud-based digital process automation services and solutions are becoming increasingly common among businesses. This, in turn, is expected to provide lucrative growth opportunities for the digital process automation market players.
The DPA market size is expected to grow as more businesses in sectors such as BFSI, e-commerce retailers, and manufacturing industries open up.
AI and machine learning integration are expected to generate a lucrative growth opportunity for the Digital process automation market. Robotic process automation, which is based on AI and machine learning, offers businesses a competitive advantage by reducing manual labor, staffing costs, and human errors.
Because of the presence of large digital process automation vendors in the region, North America is projected to have the largest market share during the forecast period. In terms of technology adoption and IT infrastructure optimization, this area is also regarded as one of the most advanced.
- Process Automation Systems Market is segmented by Type PLC Process Automation Systems, HMI Process Automation Systems, by Application Chemical, Oil Refineries, Paper and Pulp, Semiconductors, Infrastructure and by various regions.
- Automation-as-a-Service Market size is expected to grow from USD 3,108.37 Million in 2019 to USD 5,195.63 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 8.93%.
- Business Process Automation (BPA) Market is segmented by TypeProgrammable Logic Controller (PLC), SCADA, Distributed Control System (DCS), Human Machine Interface (HMI), Safety Automation, Advanced Process Control (APC), Manufacturing Execution System (MES), by Application Oil & Gas, Chemical, Pharmaceuticals, Paper & Pulp, Water and WasteWater Treatment, Metals & Mining, Energy & Power and by various regions.
- Robotic Process Automation (RPA) Market is segmented by Type Automated Solution, Decision Support And Management Solution, Interaction Solution, by Application BFSI, Healthcare & Pharmaceuticals, Manufacturing & Logistics, IT & Telecommunication, Retail, Travel, Hospitality, Transportation and by various regions.
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