Kenneth Research, in its repository of market research reports, has recently added a report on Intelligent Process Automation Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Intelligent Process Automation Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The report covers the forecast and analysis of the Intelligent Process Automation Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Intelligent Process Automation Market over the period 2019-2026.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Intelligent process automation is the application of artificial intelligence and related new technologies, which include computer vision, cognitive automation, machine learning, and robotic process automation. It is integration of machine learning and robotic process automation, which assists the human work and has the tendency to improve over a period without any command. Intelligent process automation consists of five technologies. These include robotics process automation, smart workflow, machine learning, natural language generation, and cognitive agents.
Organizations are implementing the IPA worldwide to run their business cost-effectively. IPA provides several business benefits, like human-robot orchestration, automation of repetitive and scheduled tasks, ensuring sound governance and reducing risk compliance, process visibility across the whole customer journey, and business agility and speeding up the rapidly changing business processes. The IPA enables companies to identify, model, assess, evaluate, improve, optimize, manage and automate different company procedures to improve their efficiency.
Automation is revolutionizing business processes, both customer-facing, and back-office. Growing demand for automation-led transformation programs with the help of a digital workforce is one major factor driving the market growth. Technological advancements from robotic process automation to Artificial Intelligence (AI) are transforming the landscape of automation. The implementation is majorly focused on productivity, operational efficiency, and building new revenue-generating opportunities.
The Asia Pacific region is expected to have the highest CAGR in the intelligent process automation market during the forecast period, due to its growing technology adoption. This is due to the presence of rapidly growing economies, such as China and India. Rapid economic development, globalization, digitalization, and the increased adoption of cloud-based technologies are expected to drive the growth of the intelligent automation market in the Asia Pacific region.
The key players profiled in the intelligent process automation market analysis are IBM Corporation, Atos, Tech Mahindra Limited, Accenture PLC, Tata Consultancy Services Limited, Infosys Limited, Capgemini SE, Cognizant, Genpact, and Xerox Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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KEY MARKET SEGMENTS
By Component
*Service
*Solution
By Technology
*Natural Language Processing
*Machine & Deep Learning
*Neural Networks
*Virtual Agents
*Mini Bots
*Computer Vision
*Others.
By Deployment Mode
*Cloud
*On-premise
End Users (Revenue, USD Billion
*Telecom and IT
*Banking, Financial Services, and Insurance (BFSI)
*Transport and Logistics
*Healthcare
*Media and Entertainment
*Manufacturing
*Retail and ecommerce
*Others
By Organization Size
*Large Enterprises
*SMEs
By Regional Ananlysis
North America
*U.S.
*Canada
Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe
Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific
Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM
Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA
Key companies profiled in the report include Atos Group, Blue Prism Group PLC, Cognizant Technology Solutions Corporation, ExlService Holdings, Inc., Genpact Limited, IBM Corporation, Tech Mahindra Limited, Infosys Limited, Wipro Limited, SAP SE, Accenture PLC, Pegasystems, Inc., CGI, Inc., and Tata Consultancy Services Ltd.
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Competitive Analysis:
The Intelligent Process Automation Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key points covered in this report:
*The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
*The import and export details along with consumption value and production capability of every region is mentioned in the report.
*Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
*The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
ANSWERED TO THE FREQUENTLY ASKED QUESTIONS :
WHAT IS THE SCOPE OF THE REPORT?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
WHAT ARE THE KEY SEGMENTS IN THE MARKET?
*By product type
*By End User/Applications
*By Technology
*By Region
WHICH MARKET DYNAMICS AFFECTS THE BUSINESS?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Key Topic Covered in this Report
*Market Growth Opportunities
*Leading Market Players
*Market Size and Growth Rate
*Market Growth Drivers
*Company Market Share
*Market Trends and Technological
The Intelligent Process Automation Market report highlight the economy, past and emerging trend of industry, and availability of basic resources. Furthermore, the market report explains development trend, analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out. In the end, the report makes some important proposals for a new project of Intelligent Process Automation Market before evaluating its possibility.
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