Global Intelligent Process Automation Market by component (solutions and services), by technology (natural language processing, machine & deep learning, neural networks, virtual agents, mini bots & RPA, computer vision, and others), by application (IT operations, business process automation, application management, content management, security, and others), by vertical (BFSI, telecom & IT, transport & logistics, media & entertainment, retail & ecommerce, manufacturing, healthcare & life sciences, and others), by Geography (North America, Europe, Asia Pacific, Middle East & Africa and South America) – is expected to reach US$ XX Bn by 2027, at a CAGR of XX%.
The intelligent process automation market is estimated to grow owing to increasing business complexity and developments in artificial intelligence solutions. Moreover, demand for optimized resource utilization and minimal human intervention through intelligent automation, faster decision-making across the organization, and rising investments in digital transformation helping the intelligent process automation market are boosting the market growth. However, high initial cost of implementing intelligent process automation for support and less critical services, and difficulties in growing the maturity chain is hindering the market growth. Choosing the right time and right process to implement automation is the major challenge for growing market growth.
Business process automation segment is projected to the highest CAGR during the forecast period
Business process automation segment is projected to the highest CAGR during the forecast period. Business process automation aids companies analyze, discover, model, optimize, measure, improve, manage, and automate several business processes, thus enhancing their performance. Currently, companies are focused on undergoing digital transformation and exploring new ways to use AI to aid automate operational processes and develop workflow efficiency. Enterprises worldwide are progressively adopting intelligent process automation solutions to decrease operational costs without affecting the quality and efficiency of business processes.
Asia Pacific is likely to grow at a significant pace during the forecast period
Intelligent process automation market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rise in the adoption of new investments for digital transformation, technologies, and increasing gross domestic product of countries in this region. Economic development, globalization, and the increased adoption of cloud-based technologies are likely to drive the growth of the intelligent automation market in the Asia Pacific.
This report includes a study of marketing and development strategies, along with the product portfolios of prominent companies. It includes the profiles of leading manufacturers such as Blue Prism, UiPath, Crowd Computing Systems, Inc., Accelirate, Inc., EMC Corporation, OpenText Corp., SAP SE, Lexmark International, Inc., Pegasystems Inc., IBM Corporation, Salesforce.com, Inc., Kofax Inc., Appian, Cognizant, Happiest Minds, Synechron, Wipro Limited, Swiss Post Solutions, and Genpact, Inc.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the intelligent process automation market. Report encompasses the market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the intelligent process automation market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain intelligent process automation market positioning of competitors.
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