Research Nester released a report titled “Intelligent Process Automation Market: Global Industry Analysis & Opportunity Outlook 2027”which delivers detailed overview of the global intelligent process automation market in terms of market segmentation by component, technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global intelligent process automation market that is valued at USD 9485.64 million as of 2018 is anticipated to reach a value of USD 29,631.88 million by end of forecast period, i.e., 2018-2027. Factors such as rise in the adoption of automation by several industries from across several regions globally, in addition to improved productivity of the workforce as well as the operational costs for industries becoming cheaper are all estimated to drive the growth of the market over the forecast period.
The intelligent process automation market comprises of three segments such as component, technology and by region. Software that falls under component segment that holds a market share of 68.88% as of 2018 is estimated to occupy the largest market share by 2027. On the other hand, Robotic Process Automation (RPA) is predicted to hold the highest market share of 37.55% over the forecast period, on account of factors such as the reduction in the requirement to perform tasks repetitively such as records to be checked on a daily basis or any copying of data that can be greatly minimized, which will prevent wastage of man hours.
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Based on region, the global intelligent process automation market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is estimated to register the largest market share, which is about 39.18% by end of forecast period, owing to various automation related solutions, including process control adoption taking place in the region. Additionally, growing number of organizations adopting robotic process automation as well as applying other new technologies such as Natural Language Processing and Artificial Intelligence are estimated to drive the growth of the market over the forecast period.
Growth in application of Robotics across several industrial sectors
The number of robots that are finding their place in various industries are increasing and with increase in adoption and installation of robots, the market is predicted to achieve significant growth over the next decade. The application of robots in various industries are anticipated to drive the efficiency at workplace, owing to the accuracy and efficiency that is delivered by such industrial robots in performance of various tasks assigned to them. They would be ideally suited for performing tasks that are monotonous as well as that which involves labour efficiently. However, some of the factors such as the heavy capital expenditure involved in installing robotics, apart from high configuration and automation costs are all predicted to limit the growth of the market. Moreover, the cyber security costs are comparatively high and are not generally affordable at the budget operated by small and medium industries which is another restraining factor.
This report also provides the existing competitive scenario of some of the key players of the global intelligent process automation market which includes company profiling of IBM Corporation, Accenture, Tata Consultancy Services Limited, Capgemini SE, Cognizant, Microsoft, Genpact, HCL Technologies, Wipro Limited and Tech Mahindra Limited.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global intelligent process automation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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