Intelligent Process Automation Market Highlights:
The Global Intelligent Process Automation Market is expected to reach USD 1,439.24 Billion by 2024 at a CAGR of 11.91% during the forecast period. Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years. Over the last decade, there have been rapid developments in the Intelligent process automation technology. Intelligent process automation is being rapidly adopted by organizations as it allows them to automate their tasks and decisions, thereby improving business processes and making IT operations more efficient.
Over the last decade, there have been rapid developments in the Intelligent Process Automation Market. Intelligent process automation is being rapidly adopted by organizations as it allows them to automate their tasks and decisions, thereby improving business processes and making IT operations more efficient.
Major Key Players:
The key players of 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) and Pegasystems Inc. (US), Open Text Corp. (Canada), among others. They compete in terms of solutions offered, efficiency, reliability, affordability, and advancements in technology. The market players are adopting several organic and inorganic growth strategies, such as product enhancement, launches, partnerships, agreements, and contracts to improve their position and excel in the global intelligent process automation market. For instance, in June 2019, Blue Prism acquired Thoughtonomy, an intelligent automation vendor to extend intelligent automation capabilities in the cloud.
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The segmental study of the intelligent process automation market is carried out on the basis of data type, component, deployment, technology, organization size, region and vertical.
- On the basis of data type, the intelligent process automation market is segmented into unstructured and structured.
- Based on the component, the intelligent process automation market is divided into solutions and services.
- On the basis of deployment, the intelligent process automation market is segmented into cloud and on-premise.
- Based on the technology, the intelligent process automation market is segmented into natural-language processing, machine learning, and cognitive technology.
- Based on organization size, the intelligent process automation market is bifurcated into SMEs and large enterprises.
- Based on the vertical, the intelligent process automation market is segmented into telecom & IT, healthcare, public sector, manufacturing, energy, and utilities, BFSI, food & beverage, retail, media and entertainment, transportation and logistics.
- On the basis of region, the intelligent process automation market is segmented into North America, Asia-Pacific, Europe, and Rest of the World.
Detailed Regional Analysis:
The regional study of the intelligent process automation market includes regions such as Asia-Pacific, North America, Europe, and the rest of the world. The North American region is anticipated to govern the intelligent process automation market throughout the forecast period owing to the conventional infrastructure for the research and development of progressive technologies in the region that has contributed to fast-paced expansions.
As a result, maximum key players in the market are endlessly presenting pioneering products in the market to supply to the increasing demand.
The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years. The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation. The motive of properly bolstering the global economy is being driven through the development of this market as well.
The global administrations have also contributed substantially towards the development of the market in current years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy.
The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The rise of sponsors in the market has put on an essential role in the advancement of the market. The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate.
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