The global Intelligent Process Automation Market size is expected to reach USD 17.5 billion by 2025, registering a CAGR of 16.9% from 2019 to 2025, according to a new report by Grand View Research, Inc. The fast-paced development of Artificial Intelligence (AI) and its implementation is propelling the strategists to realign their business models with modern technologies. Intelligent process automation helps achieve flexible and intelligent automation by combining artificial intelligence, robotic process automation, and other emerging technologies. It can be used in a variety of scenarios, such as processes that have predefined rules and minimal human judgment involved. It primarily helps automate repetitive processes and in turn reduce manual efforts. Significant advantages such as improved customer experience and increased process efficiency are anticipated to drive the adoption of this technology in near future.
Machine
learning, autonomics, natural language processing, and machine vision, among
others are some of the building blocks of intelligent process automation.
Machine learning refers to the ability of computer systems to improve its
performance by exposure to data without the need to follow instructions.
Autonomics relates to systems designed to perform routine tasks and operations
by humans. It is used at back office centers performing rule-based, high volume
tasks. Natural language processing refers to the ability of computers to
identify objects and activities in the images. It makes use of sequences of
image processing operations to analyze the images. Whereas, machine vision
refers to the ability of computers to interpret human language and perform an
appropriate action.
IBM
Corporation, Accenture, Wipro Limited, Infosys Limited, Cognizant, KPMG, and
Capgemini are some of the major service providers operating in the intelligent
process automation market. IBM Corporation happens to be one of the leading
providers in execution as it is pragmatically scaling out selected core
technologies. Whereas, Accenture is one of the leading providers offering
innovation-based AI solutions. The company’s intelligent automation platform
integrates four essential parts, namely, intelligent automation, delivery
management, business workflow management, and analytics and insights, with a
neutral Enterprise Resource Planning (ERP) interface at the core. The platform
permits seamless communication with client systems and external data sources,
respectively. Accenture has also established a cross-company Artificial
Intelligence Governance Committee, as well as a Growth and Strategy Working
Group comprising seniors from each of the company’s five business groups. The
Artificial Intelligence Lab located in Dublin is focused on promoting
partnerships with accelerators, start-ups, and universities across the globe.
Intelligent
process automation offers greater flexibility, is easy to implement, and has a
shorter payback period, making it a better alternative to the traditional IT
solutions. However, the implementation of intelligent process automation is
raising concerns from skeptics owing to assumed job losses due to automation.
However, the research is claiming that only 20% of people are saying that it is
affecting human jobs in the long run. Implementation of intelligent process
automation solutions shall provide companies with a competitive advantage by
simplifying and fastening the business process operations, and hence saving a
lot on operational costs.
List of Key Players in Intelligent Process Automation
Market
·
Blue Prism
·
Capgemini
·
Cognizant
·
HCL Technologies Limited
·
IBM Corporation
·
Infosys Limited
·
Pegasystems Inc.
·
Atos Syntel Inc.
·
Tata Consultancy Services Limited
·
Tech Mahindra Limited
·
UiPath
·
Wipro Limited
Request a Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/6987/rfc
Intelligent Process Automation Market Report Highlights
·
Solution component segment held the dominant market share
of more than 64% in 2018
- Consulting services
segment dominated the market in 2018 and is projected to reach USD 2.73
billion by 2025
- Machine
learning technology segment dominated the market with revenue share of 32%
in 2018
- North
America region dominated with a market share of over 36% in 2018
Related Press Release@ Intelligent Process Automation Market Report
Intelligent Process Automation Market Segmentation
Grand
View Research has segmented the global intelligent process automation market on
the basis of component, service, technology, vertical, and region:
Intelligent Process Automation Component Outlook
(Revenue, USD Million, 2015 - 2025)
- Solution
- Service
Intelligent Process Automation Service Outlook (Revenue,
USD Million, 2015 - 2025)
- Consulting
- Design &
Implementation
- Training
& Support
Intelligent Process Automation Technology Outlook
(Revenue, USD Million, 2015 - 2025)
- Machine
Learning
- Natural
Language Processing
- Virtual
Agents
- Computer
Vision
- Others
Intelligent Process Automation Vertical Outlook (Revenue,
USD Million, 2015 - 2025)
- BFSI
- Healthcare
- Retail
- IT &
Telecom
- Manufacturing
- Others
Intelligent Process Automation Regional Outlook (Revenue,
USD Million, 2015 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment