Intelligent Process Automation Market Is Expected to Reach USD 17.5 Billion By 2025 | Grand View Research, Inc.

March 05 20:14 2021
Intelligent Process Automation Market Is Expected to Reach USD 17.5 Billion By 2025 | Grand View Research, Inc.

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According to a recent report published by Grand View Research Inc., the swelling need for enhancing the productivity of business operations along with the technological penetration across different industry verticals have largely favored the market expansion.

According to a report, “Intelligent Process Automation Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Technology (ML, NLP, Virtual Agents), By Service, By Vertical, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global electric vehicle battery market size is expected to reach USD 17.5 billion by 2025, registering a CAGR of 16.9%, as per a new report by Grand View Research Inc. The fast-paced development of Artificial Intelligence (AI) and its widespread implementation is pushing strategists to realign their traditional business models with modern technologies. In addition, intelligent process automation aids in achieving flexible and intelligent automation by merging robotic process automation, artificial intelligence, and other emerging technologies.

Machine learning, autonomics, machine vision, and, natural language processing, among others are some of the building blocks of intelligent process automation. Machine learning understands the ability of computer systems to enhance its performance. Autonomics recounts systems designed to perform routine tasks and execute operations by humans. It is used at back office centers to perform rule-based, high-volume tasks.

IBM Corporation, Wipro Limited, Accenture, Infosys Limited, KPMG, Cognizant, and Capgemini are among the key service providers operating in the intelligent process automation market. IBM Corporation is one of the leading providers as it is pragmatically scaling out selected core technologies. Accenture is another leading provider offering innovation-based AI solutions. The company’s intelligent automation platform incorporates four essential components, namely, intelligent automation, business workflow management, delivery management, and analytics and insights, with an Enterprise Resource Planning (ERP) interface at the core. 

Intelligent Process Automation Market Highlights

• Based on component type, the solution segment dominated the market in 2018. This can be attributed to the improved customer experience and enhanced process efficiency.

• Market giants such as Cognizant offers consulting and advisory services to help their clients develop an outcome-driven automation strategy with a high return value.

• The consulting service segment accounted for the highest revenue share in 2018, on account of the growing needs of organizations to comprehend the potential impact of incorporating automation in businesses.

• Based on technology, machine learning segment was valued for more than 32% of the revenue share in 2018 and on the other hand, the virtual agent’s segment is projected to gain momentum in the forthcoming years.

• Asia Pacific is projected to register the fastest CAGR over the forecast period as the BFSI sector in India and China is gaining momentum owing to the increased online transaction in these countries.

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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
    • Services

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 Component 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
        • The U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • MEA

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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