Global Intelligent Process Automation (IPA) Market is expected to grow at a CAGR of ~40%, reaching ~8 Billion by the end of 2023
— Intelligent Process Automation Market Insights:
Intelligent process automation is among the emerging technologies that are transforming the way data is processed, stored and managed. Market Research Future has published its report on the market which reveals that the global intelligent process automation is anticipated to witness growth at a staggering CAGR of 40% over the forecast period from 2018 to 2023. The market is a nascent one and is expected to flourish to reach an approximate value of USD 8 Bn by the end of 2023.
The use of Intelligent Process Automation Market has many advantages in optimizing an organization. In a global economic climate where competition is high, and efficiency is key, IPA offers a variety of solutions that can be leveraged. Intelligent process automation is broadly comprised of a few core technologies which include robotic process automation, machine learning/advanced analytics, smart workflow, cognitive agents and natural language generation. Each plays an important role in intelligent process automation. For instance, smart workflow is a useful tool which tracks tasks in an end-to-end process in real time. Meanwhile, machine learning/advanced analytics, help to identify patterns in data. The advent of artificial intelligence (AI) and IoT have greatly impacted the IPA market. High development in connected devices and increased demand for automation of the workplace to streamline various time consuming processes.
The market is in its initial stages, as such the global intelligent process automation market is faced with several challenges such as the lack of technical expertise on IPS. Moreover, there are some operation issues in the implementation process which limit growth. However, ongoing development of IPA technologies and increased awareness about next-level solutions will likely lea the market toward opportunities in the coming years as well as mitigate the challenges the market faces.
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Major Key Players:
MRFR’s report has profiled various influential players operating in the IPA market. These players include Synechron, EMC Corporation, OpenText Corp., SAP SE, Lexmark International, Inc., Accelirate, Inc., Crowd Computing Systems, Inc., IBM Corporation, Wipro Limited, UiPath, Swiss Post Solutions, Appian, Pegasystems Inc., Blue Prism, Kofax Inc, Salesforce.com, Inc, Cognizant, Genpact, Inc., and Happiest Minds among others.
MRFR's segmental analysis of the global IP market has been performed on the basis of deployment, data type, solution, service, organization size, vertical and region. Data types are broadly segmented into structured and unstructured data.
Deployment of intelligent process automation technologies is done on-premise and on the cloud. Solutions available in the market are segmented into business process management, customer experience management, enterprise content management, enterprise mobility, business intelligent & analytics, and others. Types of service offered in the market are segmented into managed services & professional services. Organizations sizes where IPA solutions are implemented are small & medium enterprises (SMEs) and large enterprises. Verticals, where IPA has scope of application, is segmented into telecom & IT, public sector, BFSI, energy & utilities, media & entertainment, retail, manufacturing, healthcare, transportation & logistics, and others.
MRFR's regional analysis observes that North America has captured the largest share of the market. The region has a high level of automation and displays a high affinity toward the adoption of advanced technologies. The increasing adoption of analytics in business organizations and across various sectors is driving the IPA market in the region.
The region also has a number of influential players. Meanwhile, the Asia Pacific market is anticipated to grow at the swiftest pace and achieve the highest CAGR among all regions. The increasing adoption of robotics and the presence of important market players are key factors driving the market. Moreover, APAC has established itself as an industrial hub and displays a high demand for automation of processes.
The APAC market represents a significant opportunity in the coming years. Country-level markets of note include China, India, and Taiwan.
Latest Industry News:
• SAP has recently announced that the company is in the process of developing IPA solutions to automate a variety of back-office tasks.
• Celonis has announced the availability of its intelligent process automation solutions as a cloud service.
• Associations, Organizations, Forums, And Alliances
• Cloud Service Providers
• Customer Experience Solution Providers
• Government Bodies and Departments
• Intelligent Process Automation Companies
• Intelligent Process Automation Providers
• Technical Universities
• System Integrators
• Managed Security Service Providers
• Professional Service Providers
• Research and Development Companies
• Market Research and Consulting Firms
• Solution Providers
• Technology Standards Organizations
• Technology Investors
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
List of Tables
Table1 Global Intelligent Process Automation Market: By Country, 2018-2023
Table2 North America Intelligent Process Automation Market: By Country, 2018-2023
Table3 Europe Intelligent Process Automation Market: By Country, 2018-2023
List of Figures
Figure 1 Global Intelligent Process Automation Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Intelligent Process Automation Market
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