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Digital Process Automation Market Size Predictions suggest a rise of 14.6% CAGR, To Reach value of USD 41.1 Billion by 2032

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TOKYO, July 17, 2023 (GLOBE NEWSWIRE) — The Digital Process Automation Market is poised for significant growth as organizations increasingly embrace digital transformation and automation to streamline their business processes. Digital process automation involves the use of advanced technologies, such as artificial intelligence, machine learning, robotic process automation, and workflow management systems, to automate and optimize various business processes. This article provides an in-depth analysis of the Digital Process Automation Market, including market highlights and stats, market analysis, current market trends, growth fueling factors, market challenges, segmentation of the market, regional analysis, and a list of key players.

Digital Process Automation Market Highlights and Stats:

  • The Global Digital Process Automation Market is projected to reach a valuation of USD 41.1 billion by 2032, from the current m-cap of USD 10.8 Billion, growing at a remarkable CAGR of 14.6% from 2023 to 2032.
  • The Digital Process Automation Market is witnessing significant adoption across industries, including banking and finance, healthcare, manufacturing, retail, and IT and telecommunications.
  • North America currently holds the largest market share, followed by Europe and Asia Pacific.
  • The Digital Process Automation Market is driven by factors such as the need for operational efficiency, cost reduction, improved customer experience, and regulatory compliance.

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Digital Process Automation Market Report Coverage:

Market Digital Process Automation Market
Digital Process Automation Market Size 2022 USD 10.8 Billion
Digital Process Automation Market Forecast 2032 USD 41.1 Billion
Digital Process Automation Market CAGR During 2023 – 2032 14.6%  
Digital Process Automation Market Analysis Period 2020 – 2032
Digital Process Automation Market Base Year 2022  
Digital Process Automation Market Forecast Data 2023 – 2032
Segments Covered By Business Function, By Component, By Organization Size, By Deployment Type, And By Geography
Digital Process Automation Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Appian, Cognizant, IBM Corporation, Infosys Limited, LTIMindtree Limited, Pegasystems Inc., Open Text Corporation, Oracle Corporation, SS&C Technologies, Inc. and Software AG.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Digital Process Automation Market Analysis:

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The Digital Process Automation Market is witnessing significant growth as organizations strive for operational efficiency, cost reduction, and improved customer experience. The market presents opportunities for intelligent process automation, low-code/no-code platforms, hyper automation, and process mining. Factors such as digital transformation initiatives, demand for operational efficiency, regulatory compliance requirements, and a focus on customer experience drive market expansion. However, challenges related to legacy system integration, change management, workforce adoption, and data security need to be addressed for sustained market growth. The Digital Process Automation Market offers opportunities for key players to innovate, collaborate, and capitalize on the growing demand for automation solutions in the global business landscape.

Digital Process Automation Market Trends:

  • Intelligent Process Automation: The integration of artificial intelligence, machine learning, and robotic process automation is enabling intelligent process automation. This trend enhances automation capabilities, enabling systems to learn, adapt, and make intelligent decisions.
  • Low-Code/No-Code Platforms: The rise of low-code/no-code platforms simplifies the process of developing and deploying digital process automation solutions. These platforms empower business users to build and customize applications without extensive coding knowledge, accelerating the implementation of automation initiatives.
  • Hyper Automation: Hyper Automation combines various automation technologies, including robotic process automation, artificial intelligence, machine learning, and analytics, to automate complex end-to-end business processes. This trend enables organizations to achieve higher levels of automation and efficiency.
  • Process Mining: Process mining utilizes data analytics techniques to analyze and optimize business processes. By analyzing event logs and data from various systems, organizations gain insights into process bottlenecks, inefficiencies, and improvement opportunities.

Digital Process Automation Market Growth Fueling Factors:

Digital Transformation Initiatives: Organizations across industries are actively pursuing digital transformation initiatives to enhance operational efficiency, agility, and customer experience. Digital process automation plays a vital role in these initiatives by automating manual and repetitive tasks.

Demand for Operational Efficiency: In today’s competitive business landscape, organizations strive for operational efficiency and cost reduction. Digital process automation helps streamline workflows, reduce errors, and improve process cycle times, leading to enhanced efficiency.

Regulatory Compliance Requirements: Stringent regulatory requirements in industries such as banking, finance, healthcare, and manufacturing drive the adoption of digital process automation. Automation ensures compliance, reduces the risk of errors, and provides audit trails for regulatory purposes.

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Focus on Customer Experience: Organizations prioritize delivering exceptional customer experiences. Digital process automation enables faster response times, personalized interactions, and seamless customer journeys, resulting in improved customer satisfaction.

Digital Process Automation Market Challenges:

Legacy Systems Integration: Many organizations face challenges in integrating digital process automation solutions with existing legacy systems. Legacy system complexities and data silos may hinder smooth integration and require careful planning and implementation.

Change Management and Workforce Adoption: Successful implementation of digital process automation requires effective change management and workforce adoption. Organizations need to manage the cultural shift, provide adequate training, and address employee concerns to ensure a smooth transition.

Data Security and Privacy: With automation, the handling of sensitive data becomes crucial. Ensuring data security, privacy, and compliance with regulations such as GDPR and CCPA poses challenges for organizations implementing digital process automation.

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https://www.acumenresearchandconsulting.com/table-of-content/digital-process-automation-market

Segmentation of the Digital Process Automation Market:

Based on Function

  • Supply Chain Automation
  • Sales Process Automation
  • Marketing Automation
  • Claims Automation

Digital Process Automation Components

  • Solution
  • Service
  1. Managed Services
  2. Professional Services
    1. Support Services
    2. Implementation Services
    3. Advisory Services

Digital Process Automation Organization Sizes

  • SMEs
  • Large Enterprises

Based on Deployment Type

  • Cloud
  • On-Premises

By Industry Verticals

  • Healthcare
  • IT and Telecom
  • Manufacturing
  • Retail
  • BFSI
  • Other

Regional Analysis of the Digital Process Automation Market:

North America currently dominates the Digital Process Automation Market, driven by the presence of technologically advanced organizations, early adoption of automation solutions, and a supportive regulatory environment. Europe is also a significant market, fueled by the focus on digital transformation and stringent regulatory requirements. The Asia Pacific region is witnessing rapid market growth due to the increasing adoption of automation solutions by industries such as manufacturing, finance, and healthcare. Latin America, Africa, and the Middle East are expected to exhibit substantial growth potential, driven by digitalization initiatives and the need for process optimization.

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Digital Process Automation Market Key Players:

IBM Corporation, Microsoft Corporation, Pegasystems Inc., Appian Corporation, UiPath Inc., Automation Anywhere Inc., Kofax Inc., Blue Prism Group plc, Nintex Ltd., Bizagi Ltd., Oracle Corporation, SAP SE, Software AG, Red Hat, Inc. and Bonitasoft SA.

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The Global Irrigation Automation Market size was valued at USD 4.3 Billion in 2022 and is projected to reach USD 21.2 Billion by 2032 mounting at a CAGR of 17.5% from 2023 to 2032.

The Global Mining Automation Market size accounted for USD 3,301 Million in 2021 and is estimated to reach USD 6,416 Million by 2030, with a significant CAGR of 7.8% from 2022 to 2030.

The Global Pharmacy Automation Market size accounted for USD 5,083 Million in 2021 and is expected to reach USD 10,402 Million by 2030 with a considerable CAGR of 8.6% during the forecast timeframe of 2022 to 2030.

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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
Related Reports:
Perimeter Security Market- Global Forecast to 2029
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Fleet Management Market – Global Forecast to 2028
Smart Water Management Market – Global Forecast to 2028
Rail Asset Management Market – Global Forecast to 2026
Get access to the latest updates on LoRa and LoRaWAN IoT Companies and LoRa and LoRaWAN IoT Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup

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HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.

Optimized Visuals Tailored for Football Dynamics
The Toshiba REGZA Engine ZRi in Z670 transports football fans into the heart of the action. With the AI Football Mode, they’ll be able to see fast-moving objects crystal clear and football field actions much enriched. To see their favourite player score that winning goal, the AI Picture Optimizer automatically adjusts visual contrast and precision adapted to the game. From vivid green fields and vibrant player kits, every play comes to life with AI 4K Upscaling and Quantum Dot Color, transforming lower-resolution broadcasts into near-4K quality and unleashing lifelike visual color.
Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
Please find the high-resolution TVC here: Link
About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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