As per our analysis report, the global Intelligent Process Automation Market is expected to reach USD 24.06 billion by 2032 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. 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.
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.
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 METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
11.5%. |
Segments Covered |
By Component, Deployment Mode, Organization Size, Technology, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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), among others |
The solution portion dominated the market in foreseen to extend at a CAGR of 16.0% over the estimated time frame.
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. 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.
The Machine learning portion represented over 32% of the overall industry.
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. 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.
The BFSI fragment represented the most significant piece of the market share during the foreseen period.
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.
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.
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).
By Component
By Deployment Mode
By Organization Size
By Technology
By Application
By Industry Vertical
By Region
Frequently Asked Questions
Key drivers of growth in the IPA market include the need for operational efficiency, the rising demand for automation in business processes, advancements in AI and ML technologies, and the growing focus on digital transformation across industries globally.
The main challenges include the high initial investment costs, integration issues with existing systems, data security concerns, and the need for skilled workforce to manage and maintain IPA solutions. Additionally, there are regulatory and compliance challenges that vary by region.
Key components of an IPA solution include robotic process automation (RPA) for task automation, artificial intelligence (AI) for decision-making and cognitive tasks, machine learning (ML) for pattern recognition and predictive analytics, natural language processing (NLP) for understanding human language, and analytics tools for data-driven insights.
The future outlook for the IPA market is highly positive, with continuous advancements in AI and ML technologies expected to drive innovation and adoption. Businesses are increasingly recognizing the benefits of IPA in terms of cost savings, efficiency, and competitive advantage. As a result, the market is poised for substantial growth and widespread adoption across various sectors globally.
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