Intelligent Process Automation Market

Global Intelligent Process Automation Market Size (2024 to 2029)

As per our analysis report, the global Intelligent Process Automation Market is expected to reach USD 17.35 billion by 2029 from USD 10.07 billion in 2024, growing at a compound annual growth rate (CAGR) of 11.5 % during the forecast timeline.

It is a combination of AI and robotic process automation, which helps human work and tends to improve over a period with no order. Intelligent Process automation mainly includes five advances. These incorporate apply autonomy process automation, smart work process, AI, normal language generation, and intellectual operators.

Vendors in the intelligent process automation market are concentrating on coordinating subjective advancements in robotic process automation so as to make intelligent activities that can convey profitability and productivity gains. Expanding the appropriation of intelligent process automation by the BFSI and utility segment is a key pattern in the intelligent process automation market. Expanding innovative work on giving cutting-edge advancements in keen procedure automation are different patterns in the intelligent process automation market.

Global Intelligent Process Automation Market Drivers:

The expanded selection pace of automation procedures to change work environments drives the development of the global intelligent process automation market. What's more, the ascent in speculation by little firms in digital change and development in appropriation because of quicker dynamic capacity over the association is the central point that fuels the progression of the intelligent process automation business. Moreover, the advancement of a brought-together intelligent automation device and working of advanced workforces are foreseen to the coming year's significant opportunities in the global intelligent process automation market in the future.

Global Intelligent Process Automation Market Restraints:

The intelligent process automation requires a significant expense to introduce and actualize it. Along these lines, it gets hard for little and medium-sized associations to send such innovations that require high venture at the hour of execution. The intelligent process mechanization likewise requires a ton of support and organizations, which need to profit from different administrations, for example, training and academies. Along these lines, significant expense ruins the reception of intelligent procedure automation, in this way limiting the development of intelligent process automation market size.

REPORT COVERAGE:

This research report on the global intelligent process automation market has been segmented and sub-segmented based on component, deployment mode, organization size, technology and region.

Global Intelligent Process Automation Market - By Component:

• Service
• Solution

Based on components, the interest in services will develop in the conjecture time frame. The interest for smart process automation in BFSI and utility division will develop so as to automate complex ordinary exchanges. The solution portion dominated the market in 2018 and is foreseen to extend at a CAGR of 16.0% over the estimated time frame. Significant advantages of intelligent process automation solutions incorporate improved client experience and expanded procedure productivity.

Ventures over the globe are dynamically receiving intelligent procedure automation solutions and services to diminish operational expenses without influencing the proficiency of business processes. These administrations likewise help in picking an organized methodology while computing the degree of profitability to set needs and sensible desires. It brings about streamlined business execution and increasingly productive and viable tasks.

Global Intelligent Process Automation Market - By Deployment Mode:

• Cloud
• On-premise

Global Intelligent Process Automation Market - By Organization Size:

• Large Enterprises
• SMEs

Global Intelligent Process Automation Market - By Technology:

• Natural Language Processing
• Machine & Deep Learning
• Neural Networks
• Virtual Agents
• Mini Bots
• Computer Vision
• Others.

Based on technology in the global intelligent process automation market, the interest in robotic procedure mechanization will develop since it gives operational and profitability gains. The Machine learning portion represented over 32% of the overall industry in 2018. Then again, the virtual agent's fragment is relied upon to pick up energy over the conjecture time frame. Virtual operators are progressively picking up prevalence attributable to the rising execution across money-related foundations. A rising number of financial organizations is putting resources into advancement and looking for approaches to incorporate Robotic Process Automation (RPA) with virtual operators, AI, intellectual administrations, and analytics.

Global Intelligent Process Automation Market - By Application:

• Enterprise Content Management 
• Business Process Management
• Customer Experience Management
• Business Intelligence &Analytics
• Enterprise Mobility
• Others

Global Intelligent Process Automation Market - By Industry Vertical:

• BFSI
• IT & Telecom
• Automotive
• Education 
• Retail 
• Agriculture
• Healthcare 
• Others

The BFSI fragment represented the most significant piece of the market share in 2018. The BFSI segment is computerizing dull undertakings, for example, information entry, consistent guidelines, and gathering and formulation that empowers improvements in enhancing rate and productivity. These arrangements help in improving the effectiveness and exactness of different procedures and help in administrative and consistent detailing by gathering information from numerous frameworks.

Global Intelligent Process Automation Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America is the biggest area with a portion of 32.84% because of the higher selection of mechanization and AI in various businesses and developing mobile penetration in Canada. North America is relied upon to rule the global intelligent process mechanization market during the estimated time frame because of the setup framework for the innovative work of trend-setting innovations in the locale that has prompted quick-paced advancements. Accordingly, the majority of the key players in the market are consistently presenting creative items in the market to take into account the rising interest. Europe is relied upon to represent 27.17% of the worldwide market because of the expanding interest in automation and RPA in European nations, for example, the U.K., France, Japan, and Germany. The developing prominence of intelligent process mechanization in developing areas, for example, APEJ, Latin America, and parts of Africa, is supported by the expanded spending automation innovation in the locales. Rising discretionary cash flow among individuals in the nations referenced above is probably going to build the extent of penetration of intelligent procedure automation in these areas in the near future.

KEY MARKET PLAYERS:

Major key players in the global intelligent process automation market are UiPath, Inc. (US), SAP SE (Germany), Dell EMC Corp. (US), Blue Prism Group (UK), IBM Corporation (US), Salesforce.com, Inc. (US), WorkFusion (US), Accelirate, Inc. (US), Kofax Inc. (US), Pegasystems Inc. (US), Open Text Corp. (Canada).

RECENT HAPPENINGS IN THE MARKET:

• UiPath offers free programming to healthcare networks, and Automation Hub is additionally accessible at no expense to empower endeavors to keep up profitability despite new remote work difficulties.
• Today at forwarding III, the main ever worldwide occasion for the Robotic Process Automation (RPA) community, UiPath presented the up-and-coming age of the world's most generally embraced platform.
• SAP SE declared that it has gained Contextor SAS, a European head in the structure and coordination of robotic process automation (RPA), to assist SAP with quickening the turn of events and development of its SAP Leonardo Machine Learning portfolio.