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Global intelligent process automation market is expected to foresee significant growth. APAC to lead the growth!

The global intelligent process automation market is expected to register a CAGR of around 13% over the period of 2021-2027. This is mainly due to the growing demand for automated processes to modify traditional operations and the increasing requirement for quick decision-making across organizations. Moreover, increasing demand for reducing operating costs while maintaining the quality and efficiency of business processes followed by the growth in the adoption of robotic process automation (RPA) will positively stimulate the industry landscape. Intelligent process automation refers to the application of artificial intelligence and related new technologies such as computer vision, cognitive automation, and machine learning to robotic process automation.

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Based on the component, the market is segmented into solutions and services. Among these, the solutions segment held a prominent share of the intelligent process automation market in 2020 and is expected to witness substantial growth during the forecast period owing to the adoption of intelligent process automation solutions to improve operational efficiency and minimize human efforts.

On the basis of technology, the market is categorized into machine learning, natural language processing, neural network, virtual agent, and others. The virtual agent segment is anticipated to witness strong growth during the forecast period. The growth of this segment can be attributed to the rising implementation of virtual agents across financial institutions along with the increasing investments in virtual agents by various industries.

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For a better understanding of the market adoption of intelligent process automation, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World. The Asia-Pacific accounted for a prominent share of the global intelligent process automation market and is expected to grow at a steady growth rate during the forecast period owing to the growing technology adoption and high spending by enterprises to optimize business operations. In addition, the adoption of intelligent process automation by governments is further playing a significant role in the growth of this market in the region.

Some of the major players operating in the intelligent process automation market are International Business Machines Corporation, Atos SE, Capgemini SE, HCL Technologies Limited, Blue Prism Limited, Accenture Plc, Cognizant Technology Solutions, Tech Mahindra Limited, Hyper Labs Inc., and Pegasystems Inc.

Global Intelligent Process Automation Market Segmentation

Market Insight, by Component

  • Solutions
  • Services

Market Insight, by Technology

  • Machine Learning
  • Natural Language Processing
  • Neural Network
  • Virtual Agent
  • Others

Market Insight, by Deployment

  • On-Premises
  • Cloud

Market Insight, by Organization Size

  • Large Enterprises
  • SMEs

Market Insight, by Application

  • IT Operations
  • Application Management
  • Content Management
  • Security
  • Others

Market Insight, by Industry

  • Banking and Financial Services
  • Information and Communication Technology
  • Consumer Goods and Retail
  • Manufacturing
  • Healthcare
  • Others

Market Insight, by Region

  • North America
    •  The US
    •  Canada
    •  Rest of North America
  • Europe
    • Germany
    • France
    • Spain
    • The UK
    • Rest of Europe
  • Asia-Pacific
    • China
    •  Japan
    •  India
    •  South Korea
    •  Rest of Asia-Pacific
  • Rest of the World

Top Company Profiles

  • International Business Machines Corporation
    • Atos SE
    • Capgemini SE
    • HCL Technologies Limited
    • Blue Prism Limited
    • Accenture Plc
    • Cognizant Technology Solutions
    • Tech Mahindra Limited
    • Hyper Labs Inc.
    • Pegasystems Inc.

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