Intelligent Process Automation Market, By Component Outlook (Solutions and Services), By Deployment (On-Premise and Cloud Based), By Organisation Size (Large Size Organization and Medium and Small Size Organizations), By Technology (Neural Networks, Virtual Agents, Natural Language Processing, Machine and Deep Learning, Mini Bots and RPA, Computer Vision ), By Vertical (BFSI, Telecom and IT, Transport and Logistics, Media and Entertainment, Retail and E-commerce, Manufacturing, Healthcare, and Life Sciences), By Application (IT Operations, Business Process Automation, By Application Management, Content Management, Security and Others), By Region – Global Analysis Forecast Till 2030

The Intelligent Process Automation market was worth $13.6 Billion in 2021, and it is predicted to generate $27.9 Billion by 2030, growing at a 14.5% CAGR through 2030.

Businesses employ Intelligent Process Automation technology to automate manual data entry activities, doing away with the need for staff. Self-learning networks and neural networks are used by AI to create intelligent decision-making by collecting data, analysing past data models, and training. The IPA workflow is composed of RPA, cognitive learning, machine learning, and AI. Thus, the demand for IPA rises as RPA (robotic process automation) increases. Efficiency is offered by automated robotic processes.

Work-intensive manual chores like entering data again from one system into another will be decreased with the use of robots that replicate human action. Automation gains a new degree of intelligence thanks to artificial intelligence (AI), which can analyze data in ways that people cannot, spot patterns in data, and build on its previous choices by learning from them. By doing away with the human components of document classification, data input, and information validation, IPA saves the amount of time spent processing documents and shortens the acceptance phase.

Intelligent automation encompasses various technologies such as robotic process automation (RPA), intelligent robotic automation, and intelligent process automation (IPA). It refers to the application of advanced software and artificial intelligence to automate complex tasks and streamline workflows. Intelligent process automation software enables organizations to automate repetitive and rule-based processes, reducing manual efforts and enhancing operational efficiency. With intelligent automation solutions, businesses can leverage intelligent workflow automation to optimize their processes, increase productivity, and deliver superior outcomes. By combining the power of intelligence and automation, organizations can unlock new levels of efficiency, accuracy, and scalability in their operations.

Market Dynamics

Drivers:

The primary factor driving the increasing trend in the market is an increase in demand for automated procedures to change how tasks are carried out at workplaces. The growth also influences the rising need for intelligent process automation technology in investment by medium-sized and small businesses to understand the digitized market. The demand for this technology will increase as we work towards achieving resources that are optimal and offer automated operations without the need for human participation.

Restraints:

However, the significant financial outlay required to acquire the technology may hinder the intelligent process automation market’s expansion. Additionally, if there is a low literacy percentage in a market, it could be challenging to penetrate. Lack of technical know-how and practical difficulties with this technology's application may prove to be growth inhibitors.

Key players:

• Broadcom Limited (U.S.)

• Samsung Electronics Co. Ltd. (South Korea)

• Huawei Technologies Co. Ltd. (China)

• LG Corporation (South Korea)

• Foxconn Technology Group (Taiwan)

• Fanuc Corporation (Japan)

• ABB Ltd. (U.S.)

• Seiko Epson Corporation (Japan)

• Nachi Robotic System Inc. (U.S.)

• Nice Systems Ltd. (Israel)

• Pegasystems (U.S.)

• Redwood Software (U.S.)

• Yaskawa Electric Corporation (Japan)

• Denso Wave Incorporation (U.S.)

• and KUKA Robotics (Germany)

• And Others

Market Segmentation:

Intelligent Process Automation Market, By Application

• Business Process Automation

• Content Management

• IT Operations

• Application Management            

• Security

• Service Orchestration and Incident Resolution

Intelligent Process Automation Market, By Technology

• Computer Vision

• Neural Networks

• Natural Language Processing

• Mini bots and RPA

• Machine and Deep Learning

• Virtual Agents

Intelligent Process Automation Market, By Module

• Solutions

  • Software Tools

  • Platforms

• Services

  • Design and Implementation

  • Support and Maintenance

  • Advisory/Consulting

  • Professional Services

  • Training

Intelligent Process Automation Market, By End-Use Vertical

• Banking and Finance

• IT and Telecommunication

• Transportation and Logistics

• Healthcare

• Retail business and E-commerce

• Manufacturing operations

• Others

Intelligent Process Automation Market, By Region

• North America

• Europe

• The Middle East and Africa (MEA)

• Asia-Pacific

• South America

Regional Analysis:

At the moment, North America controls the Intelligent Process Automation Market. This is a result of increased mobile penetration and widespread deployment of artificial intelligence in the area. Due to the significant rise in demand for cloud-based technologies and automated processes, as well as rising investment in the IT industry, the intelligent process automation market in Asia-Pacific is anticipated to expand at the exponential rate over the forecast period. The expansion in this region will also be fueled by developing nations becoming digital economies.

Scope of the Report:

User

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