The Business Research Company’s report on the Intelligent Process Automation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the intelligent process automation industry?
Rising automation in various industries is expected to propel the growth of the intelligent process automation market going forward. Automation refers to technology applications where human input is minimized. Intelligent process automation is used in various industries to automate repeatable business functions and improve workforce productivity and performance. For instance, in September 2023, according to the World Robotics report published by the International Federation of Robotics, a Germany-based professional non-profit organization, there were 553,052 industrial robot installations in factories worldwide, marking a 5% year-on-year growth rate in 2022. Therefore, rising automation in various industries is driving the growth of the intelligent process automation market.
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What is the estimated market size of the intelligent process automation sector by 2029, based on current forecasts?
The intelligent process automation market size has grown rapidly in recent years. It will grow from $16.03 billion in 2024 to $18.09 billion in 2025 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to digital transformation initiatives, cost efficiency and productivity, data analytics integration, regulatory compliance and risk management, customer experience enhancement.
The intelligent process automation market size is expected to see rapid growth in the next few years. It will grow to $34.43 billion in 2029 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to ai-powered automation adaptation, cloud-based IPA solutions, industry-specific solutions, enhanced customer experience, and remote workforce support. Major trends in the forecast period include adaptive and self-learning automation, human-ai collaboration, cloud-based deployment, industry-specific solutions, process mining and analytics.
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#Who are the top players in the intelligent process automation market?
Major companies operating in the intelligent process automation market are HCL Technologies, Pegasystems Inc., Virtual Operations, Atos SE, Happiest Minds Technologies, Cognizant, Mahindra & Mahindra Limited, Xerox Holdings Corporation, Wipro Limited, CGI Inc., Infosys Limited, Accenture PLC, UiPath, Genpact Ltd., Tata Consultancy Services, Capgemini SE, International Business Machines Corporation, NICE Systems Ltd., WorkFusion Inc., Automation Anywhere Inc., Hyper Labs Inc., AutomationEdge Technologies, Kofax Inc., Sutherland Global Services Inc., ExlService Holdings Inc., Avanade Inc., SAP SE, Mindtree Limited, Cisco Systems Inc., Alibaba Group Holding Ltd., CognitiveScale
#What are the major trends in the intelligent process automation market?
The adoption of hyper-automation is a key trend gaining popularity in the intelligent process automation market. Major market players are creating innovative technologies to sustain their position in the intelligent process automation market. For instance, in February 2024, Hyperscience, a US-based AI technology company launched Hyperscience Hyperautomation Network. This partner program specifically designed to create an ecosystem that delivers hyperautomation solutions to the market, the Hyperautomation Network connects best-in-class enterprise software partners and systems integrators to support customer revenue growth. The program offers a three-tier structure with increasing benefits such as training through Hyperscience Academy, lead sharing, account planning, co-marketing opportunities, and dedicated support from Partner Directors.
Which geography holds the highest intelligent process automation market share?
North America was the largest region in the intelligent process automation market share in 2024. The regions covered in the intelligent process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the intelligent process automation market?
The intelligent process automation market covered in this report is segmented –
1) By Offering: Platform, Solution, Services,
2) By Technology: Natural Language Processing, Machine And Deep Learning, Neural Networks, Virtual Agents, Mini Bots and RPA, Computer Vision, Other Technologies,
3) By Deployment Mode: On Premises, Cloud,
4) By Organization Size: Large Enterprises, SMEs,
5) By Vertical: BFSI, Telecommunications And IT, Manufacturing and Logistics, Media And Entertainment, Retail And eCommerce, Healthcare And Life Sciences, Other Verticals,
Subsegments:
1) By Platform: Automation Platforms, Workflow Automation Tools, AI-Powered Platforms
2) By Solution: Robotic Process Automation (RPA) Solutions, Cognitive Automation Solutions, Intelligent Document Processing Solutions, Analytics Solutions
3) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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What defines the structure and scope of the intelligent process automation market?
Intelligent process automation refers to an automation process that applies artificial intelligence and other technological solutions to increase workflow optimization and increase productivity. It offers more time for an employee to work on cognitive tasks and improve the productivity and performance of the workforce in various sectors.
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