The intelligent process automation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Intelligent Process Automation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The intelligent process automation market size has grown rapidly in recent years. It will grow from <b>$14.36 billion in 2023 to $16.38 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. </b> The growth in the historic period can be attributed to digital transformation initiatives, cost efficiency and productivity, data analytics integration, regulatory compliance and risk management, customer experience enhancement.
The intelligent process automation market size is expected to see rapid growth in the next few years. It will grow to <b>$29 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. </b> The growth in the forecast period can be attributed to ai-powered automation adaptation, cloud-based ipa solutions, industry-specific solutions, enhanced customer experience, remote workforce support. Major trends in the forecast period include adaptive and self-learning automation, human-ai collaboration, cloud-based deployment, industry-specific solutions, process mining and analytics.
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Scope Of Intelligent Process Automation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Intelligent Process Automation Market Overview
Market Drivers –
Rising automation in various industries is expected to propel the growth of the intelligent process automation market going forward. Automation refers to technology applications where human input is minimized. Intelligent process automation is used in various industries to automate repeatable business functions and improve workforce productivity and performance. For instance, in August 2020, according to Windward Studios LLC, a US-based company that provides document automation and reporting software, global spending on marketing automation is increasing by 14% yearly. It is expected to reach $25 billion by 2023. By 2022, robots are expected to automate 42% of the time spent on manufacturing processes. Therefore, rising automation in various industries is driving the growth of the intelligent process automation market.
Market Trends –
The adoption of hyper-automation is a key trend gaining popularity in the intelligent process automation market. Major market players are creating innovative technologies to sustain their position in the intelligent process automation market. For instance, in March 2021, Cloud4C, a Sinapore-based cloud-managed services provider company, introduced a turnkey hyper automation solution to achieve end-to-end process transformations. The Cloud4C hyper automation solution combines Robotic Process Automation and advanced technologies such as artificial intelligence (AI), machine learning (ML), process analytics, process mining, ingestion engines, among others to discover the right business processes for automation, extract data from unstructured sources, automate complex tasks, strategically scale automation across an enterprise and other similar tasks. This solution can help organizations automate some of their core tasks and transform their businesses.
The intelligent process automation market covered in this report is segmented –
1) By Offering: Platform, Solution, Services,
2) By Technology: Natural Language Processing, Machine and Deep Learning, Neural Networks, Virtual Agents, Mini Bots and RPA, Computer Vision, Other Technologies,
3) By Deployment Mode: On Premises, Cloud,
4) By Organization Size: Large Enterprises, SMEs,
5) By Vertical: BFSI, Telecommunications and IT, Manufacturing and Logistics, Media and Entertainment, Retail and eCommerce, Healthcare and Life Sciences, Other Verticals,
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Regional Insights –
North America was the largest region in the intelligent process automation market share in 2023. The regions covered in the intelligent process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the intelligent process automation market report are HCL Technologies, Pegasystems Inc., Virtual Operations, Atos SE, Happiest Minds Technologies, Cognizant, Mahindra & Mahindra Limited, Xerox Holdings Corporation, Wipro Limited, CGI Inc., Infosys Limited, Accenture plc, UiPath, Genpact Ltd., Tata Consultancy Services, Capgemini SE, International Business Machines Corporation, NICE Systems Ltd., WorkFusion Inc., Automation Anywhere Inc., Hyper Labs Inc., AutomationEdge Technologies, Kofax Inc., Sutherland Global Services Inc., ExlService Holdings Inc., Avanade Inc., SAP SE, Mindtree Limited, Cisco Systems Inc., Alibaba Group Holding Ltd., CognitiveScale
Table of Contents
1. Executive Summary
2. Intelligent Process Automation Market characterstics
3. Intelligent Process Automation Market Trends And Strategies
4. Intelligent Process Automation Market – Macro Economic Scenario
5. Global Intelligent Process Automation Market Size And Growth
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31. Global Intelligent Process Automation Market Competitive Benchmarking
32. Global Intelligent Process Automation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Intelligent Process Automation Market
34. Intelligent Process Automation Market Future Outlook and Potential Analysis
35. Appendix
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