Digital Process Automation Market Size to Reach USD 11770 Million by 2026 at a CAGR 8.5% | Valuates Reports
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.
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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.