Global Intelligent Process Automation Market to 2023 - Increasing Investments in Digital Transformation Aiding the Intelligent Process Automation Market
DUBLIN, Oct. 25, 2018 /PRNewswire/ --
The "Intelligent Process Automation Market by Component (Solutions & Services), Technology (NLP, Machine & Deep Learning), Application (IT Operations, Business Process Automation, & Application Management), Vertical, & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The intelligent process automation market is projected to grow from USD 7.50 billion in 2018 to USD 13.75 billion by 2023, at a CAGR of 12.9% during the forecast period.
The demand for improved automated IT systems that serve dynamic requirements of customers, need for optimized resource utilization and enhanced decision-making, and increased investments for digital transformation of organizations are key factors projected to drive the growth of the market.
The intelligent process automation market has been segmented based on component, technology, application, vertical, and region. Based on component, the market has been segmented into solutions and services. Based on technology, the market has been segmented into natural language processing, machine and deep learning, neural networks, virtual agents, mini bots and RPA, computer vision, and others. Based on application, the market has been segmented into IT operations, business process automation, application management, content management, security, and others (human resource management, incident resolution, and service orchestration). Based on vertical, the market has been segmented into BFSI, telecommunications and IT, retail and eCommerce, healthcare and life sciences, manufacturing, transport and logistics, media and entertainment, and others (travel and hospitality, education, government and public sector, and utilities). Based on region, the market has been classified into North America, Europe, Asia Pacific, and Rest of World.
Based on component, the solutions segment is estimated to lead the intelligent process automation market in 2018. Intelligent process automation solutions empower users with smart technologies and agile processes for faster and more intelligent decisions. Key benefits of intelligent process automation solutions include increased process efficiency and improved customer experience. These solutions enable organizations to significantly reduce the time and cost required to execute business processes and workflows.
Based on application, the business process automation segment of the market is projected to grow at the highest CAGR during the forecast period. Business Process Automation (BPA) helps companies discover, model, analyze, measure, improve, optimize, manage, and automate various business processes, thereby enhancing their performance. Enterprises worldwide are increasingly adopting intelligent process automation solutions to reduce operational costs without affecting the quality and efficiency of business processes.
Based on vertical, the BFSI segment is projected to lead the intelligent process automation market from 2018 to 2023. In the BFSI industry, multiple systems are linked with each other by interfaces to enable the flow of transaction-related data. Automation solutions control and monitor these interfaces to ensure seamless execution of transactions and fix bottlenecks in workflows. These solutions improve the accuracy and efficiency of various processes and assist in regulatory and compliance reporting by collating data from multiple systems and conducting validation checks to prepare information for detailed analysis.
The intelligent process automation market in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023. Economic development, globalization, digitalization, and the increased adoption of cloud-based technologies are expected to drive the growth of the intelligent automation market in the Asia Pacific region.
The need to address governance and compliance requirements and high initial cost for implementing intelligent process automation for support and less critical services are acting as restraints to the growth of the intelligent process automation market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Global Market
4.2 Intelligent Process Automation Market, By Component, 2018 vs 2023
4.3 Market, By Solutions, 2018 vs 2023
4.4 Market, By Services, 2018 vs 2023
4.5 Market, By Application, 2018 vs 2023
4.6 Market, By Vertical, 2018-2023
4.7 Market Share Across Regions, 2018
4.8 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Market Dynamics
5.1.1 Introduction
5.1.2 Drivers
5.1.2.1 Automated IT Systems Help Serve Customers' Dynamic Requirements
5.1.2.2 Optimized Resource Utilization and Minimal Human Intervention Through Intelligent Automation
5.1.2.3 Faster Decision-Making Across the Organization
5.1.2.4 Increasing Investments in Digital Transformation Aiding the Intelligent Process Automation Market
5.1.3 Restraints
5.1.3.1 Addressing Governance and Compliance Requirements
5.1.3.2 High Initial Cost of Implementing IPA for Support and Less Critical Services
5.1.4 Opportunities
5.1.4.1 Developing A Single, Unified Intelligent Process Automation Tool
5.1.4.2 Building Automation-Led Transformation Programs Using Digital Workforce
5.1.5 Challenges
5.1.5.1 Choosing the Right Time and Right Process to Implement Automation
5.1.5.2 Reluctance to Adopt Automatic and Intelligent Processes
5.1.5.3 Difficulties in Rising in the Maturity Chain
5.2 Industry Trends
5.2.1 Introduction
5.2.2 Ecosystem
5.2.3 Case Studies
5.2.3.1 Case Study 1: Pnc Financial Services Group Uses IBM Business Automation Workflow and IBM Operational Decision Manager Software to Refine and Improve Business Processes
5.2.3.2 Case Study 2: Arkopharma Strengthened ITs Customer Experience With Genpact Cora Sequence Platform
5.2.3.3 Case Study 3: Hovis Uses Intelligent Process Automation to Improve the Responsiveness and Ensure Accuracy and Delivery
5.2.3.4 Case Study 4: Technology Company Uses Automation Solution to Enhance Finance Function for Greater Efficiency, Consistency, and Reliability
5.2.3.5 Case Study 5: Kiwa Register Uses Intelligent Process Automation to Improve the Processing Function for Different Types of License Requests
5.2.3.6 Case Study 6: Worldhotels Deploys Robotic Automation Technology to Support Key Customer Processes
6 Intelligent Process Automation Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Software Tools
6.2.2 Platforms
6.3 Services
6.3.1 Professional Services
6.3.1.1 Advisory/Consulting
6.3.1.2 Design and Implementation
6.3.1.3 Training
6.3.1.4 Support and Maintenance
6.3.2 Managed Services
7 Market By Technology
7.1 Introduction
7.2 Natural Language Processing
7.3 Machine and Deep Learning
7.4 Neural Networks
7.5 Virtual Agents
7.6 Mini Bots
7.7 Computer Vision
7.8 Others
8 Intelligent Process Automation Market, By Application
8.1 Introduction
8.2 IT Operations
8.3 Business Process Automation
8.4 Application Management
8.5 Content Management
8.6 Security
8.7 Others
9 Market By Vertical
9.1 Introduction
9.2 BFSI
9.3 Telecommunications and IT
9.4 Transport and Logistics
9.5 Media and Entertainment
9.6 Retail and Ecommerce
9.7 Manufacturing
9.8 Healthcare and Life Sciences
9.9 Others
10 Intelligent Process Automation Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Australia and New Zealand
10.4.3 Japan
10.4.4 Singapore
10.4.5 Rest of Asia Pacific
10.5 Rest of the World
10.5.1 Israel
10.5.2 United Arab Emirates
10.5.3 Mexico
10.5.4 Others
11 Competitive Landscape
11.1 Overview
11.2 Competitive Situation and Trends
11.2.1 New Product Launches & Product Enhancements
11.2.2 Agreements, Alliances, Collaborations, and Partnerships
11.2.3 Acquisitions
11.2.4 Expansions
11.3 Market Ranking of Key Players
12 Company Profiles
12.1 Accenture
12.2 Atos
12.3 Blue Prism
12.4 Capgemini
12.5 Cognizant
12.6 CGI
12.7 EXL
12.8 Genpact
12.9 HCL Technologies
12.1 IBM
12.11 Infosys
12.12 KPMG
12.13 Pegasystems
12.14 Syntel
12.15 TCS
12.16 Tech Mahindra
12.17 Thoughtonomy
12.18 UiPath
12.19 Wipro
12.2 Xerox
12.21 Key Innovators
12.21.1 Happiest Minds
12.21.2 Symphony Ventures
12.21.3 Avasant
12.21.4 Avanade
12.21.5 Virtual Operations
12.21.6 Sutherland Global Services
For more information about this report visit https://www.researchandmarkets.com/research/86sl37/global?w=5
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