Published Date: 31-Jan-2020
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According to a new report Global Intelligent Process Automation Market, published by KBV Research, The Global Intelligent Process Automation Market size is expected to reach $15.8 billion by 2025, rising at a market growth of 12.5% CAGR during the forecast period. Intelligent process automation market providers rely on incorporating cognitive technologies into robotic process automation to construct intelligent operations in order to deliver productivity and efficiency benefits. Raising the adoption of intelligent process automation by BFSI and the utility sector is a core trend of the intelligent process automation market. Further trends in the smart process automation market are increasing research and development in the provision of next-generation technologies for intelligent process automation.
The solution segment dominated the market in 2018, and is anticipated to expand at a significant CAGR over the forecast period. The main advantages of intelligent process automation solutions involve improved customer experience and improved process efficiency.
The IT Operations market dominated the Global Intelligent Process Automation Market by Application in 2018, growing at a CAGR of 11.2 % during the forecast period. The Application Management market is anticipated to witness a CAGR of 11.6% during (2019 - 2025). The Content Management market is poised to grow at a CAGR of 13.5% during (2019 - 2025). Additionally, The Security market is expected to witness CAGR of 14.3% during (2019 - 2025).
The BFSI segment accounted for the largest market share in 2018. The BFSI sector is automating repetitive tasks, such as data entry, compliance regulations, and assembly and formulation that enable enhancements in improving speed and efficiency. The IT & Telecom market would witness a CAGR of 11.5% during (2019 - 2025). Additionally, The Healthcare market is exhibiting a growth CAGR of 12.9% during (2019 - 2025).
North America is expected to continue its dominance in the market during the forecast period. Growing adoption of process management and automation technologies across the U.S. enterprises is driving regional development. Asia Pacific is anticipated to improve at the fastest CAGR of 14.3% during the forecast period. The BFSI industry in China and India is growing rapidly as a result of increased online transactions in the countries concerned. Increased adoption of automation, machine learning and artificial intelligence further boost the demand for intelligent process automation solutions and services. The Europe market is expected to witness a CAGR of 11.8% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/intelligent-process-automation-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Atos Group, Blue Prism Group PLC, Cognizant Technology Solutions Corporation, ExlService Holdings, Inc., Genpact Limited, IBM Corporation, Tech Mahindra Limited, Infosys Limited, Wipro Limited, SAP SE, Accenture PLC, Pegasystems, Inc., CGI, Inc., and Tata Consultancy Services Ltd.
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