Potential Impact of COVID-19 on Digital Operations Solutions Market

February 10, 2021

Digital operations solutions are vital tools for all businesses to remain competitive as the world becomes increasingly digital. The digital revolution is dramatically transforming each sector across the globe. Digital operations solutions are software used by organizations to transform or automate each process using digital technologies to change models, processes, and organizational activities to further advance the performance of businesses.
Digital operations solutions support the management of end-to-end customer experience and the entire service lifecycle. As per TMR analysis, digital operations solutions can improve total production efficiency of any business up to 20%.
The global digital operations solutions market is projected to expand at a rapid pace during the forecast period, due to increasing adoption of digital operations solutions among organizations across the globe.

Global Digital Operations Solutions Market: Key Drivers and Restraints

Automation of business processes is expected to boost the digital operations solutions market during the forecast period globally.
Growing technological advancements and changing consumer behavior have encouraged business organizations to adopt innovative solutions to transform business processes. Additionally, demand for digital operations solutions is likely to increase during the forecast period to cater to fast-changing market conditions.
Rise in adoption of Augmented Reality (AR), Virtual Reality (VR), IoT, Big Data analytics, cloud computing, artificial intelligence, mobility solutions, cybersecurity, and robotic process automation by end-users is expected to boost the demand for digital operations solutions across the globe.

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Increase in proliferation and adoption of mobile devices and apps have pushed the demand for digital operations solutions.
Increasing awareness about the benefits of digitization across the globe is estimated to propel the global digital operations solutions market during the forecast period
However, security and privacy concerns about confidential data is expected to hamper the digital operations solutions market during the forecast period.
Lack of skilled persons and issues related to IT modernization are other major factors anticipated to hinder the digital operations solutions market during the forecast period.

The COVID-19 pandemic has a positive impact on the digital operations solutions market. Cloud and digital technologies are keeping businesses running across the globe during lockdowns caused by COVID-19. Businesses and people are completely dependent on online solutions or services for their essential needs, and working remotely from home, which in turn is projected to have a positive impact on the global digital operations solutions market. The U.S. is seeing a significant rise of up to 45% in the usage of digital operations solutions by each sector during the COVID-19 pandemic.

In terms of region, the global digital operations solutions market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global digital operations solutions market in 2019, due to the significant adoption of digital operations solutions in the region. The U.S. is the key market for digital operations solutions. In the U.S., around 65% of companies have already invested in digital operations solutions.
The digital operations solutions market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to growing investments by organizations on digitalization and technology deployment, which in turn increases the adoption of digital operations solutions in the region.