Intelligent Process Automation Market

Intelligent Process Automation Market by Services (Design & Implementation, Consulting, and Training & Support), Components (Service and Solution), Verticals (Healthcare, IT & Telecom, BFSI, Retail, Manufacturing, and Others), Technology (Virtual Agents, Machine Learning, Computer Vision, Natural Language Processing, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-2770
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 177
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global intelligent process automation market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the solutions such as smart technologies and agile processes for making faster and more precise decisions.

Intelligent Process Automation Market Key Takeaways

Intelligence process automation (IPA) is a combination of technologies, which help in automation, integration, and management of digital processes. This combination of technologies results in automation capabilities that significantly offers competitive advantages and business value for end-users. The application of IPA is widely adopted by various sectors to elevate their business and market opportunities. The impact of COVID-19 pandemic on IPA market is significantly less as the market remains steady. Moreover, digital transformation with focus on automation adoption for businesses is remained on track.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising demand for automation-led transformation solutions aided by digital workforce is one of the key factors driving the market growth.
  • Serving dynamic requirements of end-users with the integration of automated IT systems is expected to boost the market growth in the coming years.
  • High cost of IPA implementation for support is a key challenge, which is likely to hinder the market growth during the forecast period.
  • Lack of cyber security in dealing with threats from hackers present a major restraining factor. This is anticipated to hamper the market expansion during the projected timeline.
  • Building automation-led transformation programs using a digital workforce is projected to create a significant growth opportunity for the market in the near future.

Scope of the Report

The report on the global intelligent process automation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Intelligent Process Automation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Services (Design & Implementation, Consulting, and Training & Support), Components (Service and Solution), Verticals (Healthcare, IT & Telecom, BFSI, Retail, Manufacturing, and Others), and Technology (Virtual Agents, Machine Learning, Computer Vision, Natural Language Processing, and Others),

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Tata Consultancy Services Ltd.; Wipro Ltd.; Blue Prism; UiPath; Capgemini; Cognizant; HCL Technologies Ltd.; IBM Corp.; Infosys Ltd.; Pegasystems Inc.; Atos Syntel Inc.; and Tech Mahindra Ltd.

Market Segment Insights

Consulting segment is expected to grow at a rapid pace

Based on services, the global intelligent process automation market is divided into design & implementation, consulting, and training & support. The consulting segment is expected to grow at a rapid pace during the forecast period attributed to increased awareness across the organizations regarding the potential influence of automation in the business operation and performance. However, the design & implementation segment is anticipated to hold a key share of the market in the coming years due to the implementation of automation solutions to reduce manual efforts.

Improved customer experience to drive solution segment

On the basis of components, the market is bifurcated into service and solution. The solution segment is projected to expand at a considerable CAGR during the forecast period owing to improved customer experience and increased process efficiency. On the other hand, service segment is anticipated to account for a major market share during the forecast period due to up gradation for an outcome-driven automation strategy and identifying processes with a high return value.

Intelligent Process Automation Market By Components

BFSI segment is anticipated to hold significant market share

In terms of verticals, the global intelligent process automation market is segregated into healthcare, IT & telecom, BFSI, retail, manufacturing, and others. The BFSI segment is anticipated to hold significant market share in the coming years owing to enhancement in automated repetitive tasks such as compliance regulations, data entry, and assembly & formulation. However, the retail segment is expected to register a considerable CAGR during the forecast period due to the need for automation and digital transformation with help of IPA is on the rise across regions.

Investment for innovation is expected to drive machine learning segment

On the basis of technology, the market is segmented into virtual agents, machine learning, computer vision, natural language processing, and others. The machine learning segment is expected to account for major market share during the projected timeline attributed to rise in investment for innovation and automation by major financial institutions. On the other hand, the virtual agents and natural language segments are expected to grow at a significant rate owing to automated programs that enables systems to learn and improve based on the input and experiences.

North America is anticipated to constitute a key market share

In terms of regions, the global intelligent process automation market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to growing use of automation and process management technologies across several industries in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to growing awareness about machine learning, automation, and artificial intelligence across various end-users in the region.

Intelligent Process Automation Market By Regions

Segments

The global intelligent process automation market has been segmented on the basis of

Services

  • Design & Implementation
  • Consulting
  • Training & Support

Components

  • Service
  • Solution

Verticals

  • Healthcare
  • IT & Telecom
  • BFSI
  • Retail
  • Manufacturing
  • Others

Technology

  • Virtual Agents
  • Machine Learning
  • Computer Vision
  • Natural Language Processing
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Tata Consultancy Services Ltd.
  • Wipro Ltd.
  • Blue Prism
  • UiPath
  • Capgemini
  • Cognizant
  • HCL Technologies Ltd.
  • IBM Corp.
  • Infosys Ltd.
  • Pegasystems Inc.
  • Atos Syntel Inc.
  • Tech Mahindra Ltd.

Competitive Landscape

Key players competing in the global intelligent process automation market are Tata Consultancy Services Ltd.; Wipro Ltd.; Blue Prism; UiPath; Capgemini; Cognizant; HCL Technologies Ltd.; IBM Corp.; Infosys Ltd.; Pegasystems Inc.; Atos Syntel Inc.; and Tech Mahindra Ltd. Companies are focusing on business strategies such as partnerships, collaborations, and merger & acquisitions to expand their market share. Furthermore, key players are also engaging to expand their capacity to leverage their market position.

For instance, In June 2019, Blue Prism completed the acquisition of Thoughtonomy. The acquisition aimed at complementing the former company's connected-RPA platform with the Software as a Service capabilities, allowing end-users to increase productivity without having to invest in dedicated equipment.

Intelligent Process Automation Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Intelligent Process Automation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Intelligent Process Automation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Intelligent Process Automation Market - Supply Chain
  4.5. Global Intelligent Process Automation Market Forecast
     4.5.1. Intelligent Process Automation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Intelligent Process Automation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Intelligent Process Automation Market Absolute $ Opportunity
5. Global Intelligent Process Automation Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Intelligent Process Automation Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Intelligent Process Automation Demand Share Forecast, 2019-2026
6. North America Intelligent Process Automation Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Intelligent Process Automation Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Intelligent Process Automation Demand Share Forecast, 2019-2026
7. Latin America Intelligent Process Automation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Intelligent Process Automation Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Intelligent Process Automation Demand Share Forecast, 2019-2026
8. Europe Intelligent Process Automation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Intelligent Process Automation Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Intelligent Process Automation Demand Share Forecast, 2019-2026
9. Asia Pacific Intelligent Process Automation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Intelligent Process Automation Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Intelligent Process Automation Demand Share Forecast, 2019-2026
10. Middle East & Africa Intelligent Process Automation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Intelligent Process Automation Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Intelligent Process Automation Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Intelligent Process Automation Market: Market Share Analysis
  11.2. Intelligent Process Automation Distributors and Customers
  11.3. Intelligent Process Automation Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Tata Consultancy Services Ltd. Wipro Ltd. Blue Prism UiPath Capgemini Cognizant  

The global intelligent process automation market has been segmented on the basis of

Services

  • Design & Implementation
  • Consulting
  • Training & Support

Components

  • Service
  • Solution

Verticals

  • Healthcare
  • IT & Telecom
  • BFSI
  • Retail
  • Manufacturing
  • Others

Technology

  • Virtual Agents
  • Machine Learning
  • Computer Vision
  • Natural Language Processing
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Tata Consultancy Services Ltd.
  • Wipro Ltd.
  • Blue Prism
  • UiPath
  • Capgemini
  • Cognizant
  • HCL Technologies Ltd.
  • IBM Corp.
  • Infosys Ltd.
  • Pegasystems Inc.
  • Atos Syntel Inc.
  • Tech Mahindra Ltd.

Key players competing in the global intelligent process automation market are Tata Consultancy Services Ltd.; Wipro Ltd.; Blue Prism; UiPath; Capgemini; Cognizant; HCL Technologies Ltd.; IBM Corp.; Infosys Ltd.; Pegasystems Inc.; Atos Syntel Inc.; and Tech Mahindra Ltd. Companies are focusing on business strategies such as partnerships, collaborations, and merger & acquisitions to expand their market share. Furthermore, key players are also engaging to expand their capacity to leverage their market position.

For instance, In June 2019, Blue Prism completed the acquisition of Thoughtonomy. The acquisition aimed at complementing the former company's connected-RPA platform with the Software as a Service capabilities, allowing end-users to increase productivity without having to invest in dedicated equipment.

Intelligent Process Automation Market By Key Players

Buy Report