Intelligent-Process-Automation Market Analysis by Offerings (On-Premise, and Cloud); by Technology (Natural Language Processing, Machine and Deep Learning, Neural Networks, and Others); by Application (IT Operations, Content Management Operations, Business Process Automation, and Others); by Organization (Small & Medium, and Large Enterprises); and by Vertical (BFSI, IT & Telecom, Retail & Consumer Goods, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

Intelligent-Process-Automation Market Report Scope

Global Intelligent-Process-Automation Market Size, Forecast, and Trend Highlights Over 2022 - 2031 

The global intelligent-process-automation market is estimated to garner a revenue of USD 28.0 Billion by the end of 2031 by growing at a CAGR of ~14% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 13.0 Billion in the year 2021. The growth of the market can be attributed to implement the work from home policies for automating the business processes considering the rising work from home trend. As per the reported data, there are more than 140 million Microsoft teams active users on a daily basis across the globe.

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Intelligent process automation (IPA) is often referred to as hyper-automation, intelligent automation or digital process automation. It is the process of combining robotic process automation (RPA) with process mining, OCR (optical character recognition)/ICR (intelligent character recognition) analytics, and artificial intelligence (AI) to create business process automation that thinks, learns, and adapts in an autonomous fashion. It also uses natural language processing (NLP) empowering hardware to understand, interpret and manipulate language -spoken or written, Intelligent -process-automation helps businesses by improving efficiency and reducing costs. Moreover, the software-based repetitive job roles performed can be reduced through automation that can reduce the cost of the organizations. Therefore, it is expected to increase the growth of the global intelligent-process automation market. More than 35 percent of traditional businesses have adopted a digital business strategy.

Global Intelligent-Process-Automation Market: Growth Drivers and Challenges

Growth Drivers

• Growth in the Healthcare Industry– With the employment of new employees in the industry, there has been a growth in the healthcare industry that should not be overcome with repetitive tasks. Therefore, it is expected to increase the growth of the global intelligent-process automation market. As per the U.S Bureau of Labor Statistics, the employment in healthcare occupations is expected to grow by 16 percent from 2020 to 2030

• Increasing Implementation of Artificial Intelligence– The adoption rate of artificial intelligence has grown to more than 30 per cent around the world.

• Growing financial, and Banking Services –Automating the credit and deposit processes is making the procedures easy for the financial and banking services providers. Therefore, it is anticipated to surge the growth of the global intelligent-process automation market. According to the India Brand Equity Foundation, there has been increased in the total bank credit to USD 1,487.60 Billion in the financial year 2021.

• Rising Focus on Improving Customer Services–Intelligent process automation reduces the average call-handling time of organizations which helps in improving customer service. More than 60 per cent of people have high expectations from customer service in order to build long-term relationship.

Challenges

• Lack of Technical Workers

• High Cost for the Robotic Process Automation

• Reluctance to Adopt  New Technologies

The global intelligent-Process-automation market is segmented and analyzed for demand and supply by vertical into BFSI, IT & Telecom, retail & consumer goods, manufacturing, healthcare pharmaceuticals, and others. out of these, the BFSI segment is anticipated to hold the largest share over the forecast period owing to the need to automate the repetitive work in banking, financial services, and insurance. Moreover, it improves the accuracy and reduces the cost of the operations. Nearly 9 to 24 percent of the work across the bank functions across the globe will be performed through automated processes in a few years.

Global Intelligent-Process-Automation Market Regional Synopsis

Regionally, the global intelligent-process-automation market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of the adoption of new and advanced technology by businesses such as machine learning, artificial intelligence, and others. Moreover, the increasing investment in research and development is further expected to contribute to the growth of the market in the region. In the United States more than 65 percent of the daily management tasks are expected to be automated by the end of the year 2024.

Market Segmentation

Our in-depth analysis of the global intelligent-process-automation market includes the following segments:

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Key Companies Dominating the Global Intelligent-Process Automation Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global intelligent-process-automation market that are included in our report are Atos, Blue Prism, Capgemini, CGI, Cognizant, Genpact, HCL Technologies, IBM Corporation, Infosys Limited, Pegasystems, and others.

Global   Market: Latest Developments

• 8th July 2020: IBM Corporation: Brazilian software provider of robotic process automation (RPA) WDG Soluções Em Sistemas E Automação De Processos LTDA (referred to as "WDG Automation" throughout) is to be acquired by IBM, as announced by the company. This strategic acquisition will enhance IBM's comprehensive AI-infused automation capabilities, spanning business processes to IT operations.

• 13th April 2021: Pegasystems: a new set of Pega Platform called Pega Process AI has been announced by the company. Its enhanced capabilities will help organiztiions to optimize their business and customer operations in real-time.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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