PUBLISHER: Allied Market Research | PRODUCT CODE: 1414944
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414944
According to a new report published by Allied Market Research, titled, "Intelligent Process Automation Market," The intelligent process automation market was valued at $13.4 billion in 2022, and is estimated to reach $50.7 billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
The increasing adoption of Robotic Process Automation (RPA) has been a driving force behind the growth of the Intelligence Process Automation (IPA) market. RPA involves the use of software robots or "bots" to automate repetitive, rule-based tasks, allowing businesses to streamline operations and enhance efficiency. Moreover, the growing inheritance of machine learning (ML) and the continuous advancement of analytics are significantly propelling the intelligence process automation market. However, handling massive amounts of data and the computations involved in cost estimation is restraining the intelligent process automation market growth. In the context of intelligent process automation, monitoring data and fraud detection play pivotal roles in boosting the intelligence process automation market. By employing advanced technologies like machine learning and AI, these monitoring systems swiftly sift through vast datasets, identifying anomalies and potentially fraudulent activities in real time.
Furthermore, the convergence of IPA with other emerging technologies like robotic process automation (RPA), data analytics, and cognitive computing is creating more comprehensive and sophisticated automation ecosystems. This convergence facilitates end-to-end process automation, predictive analytics, and personalized user experiences, driving further adoption and market expansion. Overall, the growth of the intelligent process automation market is driven by the pursuit of operational excellence, advancements in AI capabilities, changing work dynamics, and the synergistic integration of automation with other cutting-edge technologies, paving the way for increased efficiency and innovation across industries.
The intelligent process automation market is segmented based on component, technology, organization size, deployment mode, industry vertical, and region. Based on the component, the market is bifurcated into solution, and services. By technology, the market is classified into natural process automation, machine and deep learning, computer vision, virtual agents, and others. Based on the organization size, the market is bifurcated into large enterprises and small & medium-sized enterprises. By deployment mode, it is categorized into on-premises and cloud. By industry vertical, it is divided into BFSI, retail, manufacturing, healthcare, IT & telecom, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players profiled in the report include Accenture, Atos SE, Capgemini, Cognizant, Genpact, HCL Technologies, IBM Corporation, Infosys, Pegasystems, and Tech Mahindra. These players have adopted various strategies to increase their market penetration and strengthen their position in the intelligent process automation market.
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