The global digital process automation market is predicted to be worth US$13.64 billion by 2031, witnessing a CAGR of 8.5 percent over the next six years. That’s according to a new study by QY Research.
North America is expected to hold the largest market size during the forecast period given the presence of large digital process automation vendors in the region. This region is also considered to be one of the most advanced in terms of technology adoption and IT infrastructure optimization, the research indicated.
Businesses are increasingly investing in process automation for various strategic and operational reasons. Benefits include increased efficiency, cost reduction, scalability, enhanced customer experience and data-driven decision-making.
What is digital process automation?
The report defines digital process automation as using low-code development tools to automate processes across multiple applications. The approach focuses on automating or partially automating tasks across various business practices that typically require some form of human interaction.
Digital process automation market drivers and barriers
Factors such as growing consumer demand, successful marketing tactics and large investments in product development are key drivers of digital process automation.
Meanwhile, easy access to competitors and the low cost of substitutes are the biggest barriers facing digital process automation firms. “Businesses think they can get past this barrier, though, by controlling prices and introducing chemicals, specialty chemicals, polymers, metals, ceramics, composites and advanced materials, which will increase consumer demand for their products,” QY Research stated.
Furthermore, in order to minimize dangers, modify their plans and continue operating, market participants must face substantial challenges. Consequently, companies will be able to effectively allocate their resources without compromising timely market supply or product quality.
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Regulatory factors in digital process automation
Regulatory factors play an important role in shaping market dynamics. As governments introduce and refine regulations governing the production, distribution and sale of digital process automation products, businesses must navigate complex compliance requirements to ensure lawful operations.
Regulatory clarity and consistency provide certainty for businesses and give people confidence in product safety and quality standards, QY Research said. Furthermore, regulatory developments such as the approval of digital process automation chemical and material products and cultivation programs are opening up new opportunities for market expansion while setting standards for best practices in the industry.
AI agents are “essential” for process automation
Businesses view artificial intelligence (AI) agents as essential tools in process automation. That’s according to separate research by technology giant and process mining provider IBM. Enterprises are expected to significantly scale AI-enabled workflows – many driven by agentic AI – relying on them for process efficiency and cost reduction.
With the pace of digital transformation accelerating, enterprises can turn to AI agents as the next evolution of intelligent automation, IBM stated. As many as 83 percent of respondents expect AI agents to improve process efficiency and output by 2026, with 71 percent believing agents will autonomously adapt to changing workflows.
“We see more clients looking at agentic AI as the key to help them move past incremental productivity gains and actually gain business value from AI – especially when applied in their core processes like supply chain and HR,” said Francesco Brenna, VP and senior partner, AI integration services, IBM Consulting.
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