Jun 01, 2020 (AB Digital via COMTEX) -- Intelligent Process Automation Market Highlights:
A report by Marker Research Future (MRFR) estimates that the Global Intelligent Process Automation Market to rise at a CAGR of 11.91%, during the forecast period from 2018 to 2024. At this pace, the opportunities in the worldwide Intelligent Process Automation are estimated to swell up USD 1,4392.4 million by the end of the year 2024, where it was USD 2624.6 million back in 2018.
The intelligent process automation market is majorly propelled by rapid developments that are happening in the market for connected devices. Several changes are being deployed in workplaces owing to the mounting adoption of automation processes, which in turn, is swelling the demand for Intelligent Process Automation Market . Machines with automated intelligence, therefore, investigate a huge amount of structure and unstructured data and automate the processes intelligently to provide better operational and business efficiency. In the digital era, the concept of automation is evolving rapidly, coupled with the advancements in technology. Tall, these factors add up to become influential factors leading the market to a great extent.
The market of intelligent process automation is also on the verge of rising, owing to the increase in emerging and evolving technologies. This has bolstered the market optimistically, such that now the prediction of the market is accounted for the next five years. There are numerous benefits offered by intelligent automation processes that have positively impacted the market over the years, thus taken it to fuel the market in the future.
The benefits include improving process efficiency, cost and risk reduction, enhancing customer experience, workforce productivity optimization, improving process efficiency, and innovation in service and product. These empower businesses to run more efficiently. Along with this, the key players in the intelligent automation process market are also investing profoundly by brining various tools such as robotic process automation, data extraction smart flow technology, which is likely to result in the growth of the market in the estimated timeframe.
The COVID-19 pandemic disruption is estimated to transform the Intelligent Process Automation Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Intelligent Process Automation Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
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Key Market Players:
The key market players functioning in the global intelligent process automation includes Dell EMC Corp. (US), SAP SE (Germany), IBM Corporation (US), Blue Prism Group (UK), WorkFusion (US), Accelirate, Inc. (US), Salesforce.com, Inc. (US), and Pegasystems Inc. (US), Open Text Corp. (Canada), KOFAX INC. (US), among others.
Segmental Analysis of Market Intelligent Process Automation:
The global market of the intelligent automation process is enclosed with segmental analysis in which the market is studied among various segments such as data type, component, deployment, technology, organization size, and vertical.
In terms of data type, the market comprised structured and unstructured segments.
In terms of components, the market has included solutions and services are the segments.
In terms of deployment, the market has included on-premise and cloud are the segments.
In terms of technology, the market has included Natural-Language Processing, Machine Learning, and Cognitive Technology segments.
In terms of organization size, the market has included SMEs and Large Enterprises segments.
In terms of vertical, the market has included Telecom & IT, BFSI, Energy, and Utilities, Public Sector, Manufacturing, Media and Entertainment, Retail, Food & Beverage, Transportation and Logistics and Healthcare segments.
North America, Asia-Pacific, Europe, and the Rest of the World are the prime regions taken into consideration for the study of market dynamics for the future.
Owing to rapid improvements happening in technology, the North American region is estimated to lead the market in the forecast period. Therefore, adding to this, the U.S has numerous manufacturing industries that are adopting intelligent automation processes in their factories for efficient operations to their purposes. In fact, the countries in the North America region are also becoming well-established, as a majority of the companies have started investing in Research & Development activities and processes.
On the other side, Europe and Asia Pacific regions are also anticipated to outpour with the rising demand for the intelligent automation process in the approaching years.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations