Intelligent Process Automation Market Analysis

Intelligent Process Automation Market Overview

Intelligent Process Automation Market Size was valued at USD 14.4 billion in 2023. The Intelligent Process, Automation market industry is projected to grow from USD 16.2 Billion in 2024 to USD 42.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.6% during the forecast period (2024 - 2030).

Automation is being adopted more widely across sectors, and demand for intelligent automation to enhance business processes is rising are the key market drivers enhancing market growth.

Figure 1: Intelligent Process Automation Market Size, 2024-2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Intelligent Process Automation Market Trends

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  Robotic process automation is being adopted more widely, and the IPA industry is receiving more investment will boost the market growth

  
  

RPA technology is used in businesses to automate manual data entry operations, eliminating the need for human labor. A.I. employs neural networks with self-learning networks that take input and utilize that data to analyze prior data models and learn from them to make intelligent judgments. IPA process combines ML, A.I., cognitive learning, and RPA. As a result, the need for IPA rises as RPA does as well. RPA offers quickness and effectiveness. Robots that replicate human behavior can be used to automate labor-intensive manual processes like entering data again from one system to another.

Then, considerable intellect and judgment are provided by sAI. To evaluate data in a manner that a person could not, recognize patterns in data, and learn from previous judgments to make increasingly wise conclusions, artificial intelligence (A.I.) is added to automation. By reducing the need for human data input, information validation, and document sorting, IPA helps to reduce the amount of time needed for the underwriting step.

Businesses are compelled to adopt work-from-home policies, which results in significant expenditures in automating operational processes. The market is expanding due to increased application fields, including telemedicine, predictive maintenance, and virtual healthcare management. The majority of non-IT verticals have witnessed increased IPA solution use. According to a poll by Bain, the industrial, healthcare, and life sciences sectors would all see an increase in automation of more than 50%. McKinsey & Co. conducted a global poll of company executives in 2022 and discovered that 66% were testing solutions to automate at least one business function, up from 57% two years prior. Thus, driving the Intelligent Process Automation market revenue.

Intelligent Process Automation Market Segment Insights

Intelligent Process Automation Data Type Insights

Based on Data Type, the Intelligent Process Automation Market segmentation includes Structured and Unstructured. The Structured segment dominated the market, accounting for 35% of market revenue. The demand for centralised data storage solutions to manage sensitive information is expected to increase demand for structured data management software. Because of the growing organisational requirement for data processing systems, the market is expected to grow. The use of structured data management software across several sectors is likely to open new revenue opportunities for software providers throughout the forecasted period.

Intelligent Process Automation Component Insights

Based on Components, the Intelligent Process Automation Market segmentation includes Solutions and Services. The solution category, which led the market in 2022, is expected to grow at a CAGR of 16.0% during the forecast period. Customer experience improvement and greater process efficiency are two major advantages of intelligent process automation technologies. For instance, systems that think, learn, and do are only one of the intelligent process automation solutions offered by Cognizant. These technologies allow businesses to drastically reduce the time and money it takes to perform business operations and workflows.

Figure 2 Intelligent Process Automation Market, by Component 2022 & 2030 (USD billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Intelligent Process Automation Deployment Insights

Based on Deployment, the global Intelligent Process Automation industry has been segmented On-Premise and Cloud. On-Premise held the largest segment share in 2022. The on-premises Deployment includes setting up hardware and software at clients' locations. Compared to the cloud model, it is a more costly model. The conventional method for installing the IPA solution in businesses is on-premises Deployment. The on-premises IPA solution gives businesses complete control over the systems, data, platforms, and applications handled and maintained by their I.T. personnel.

Intelligent Process Automation Technology Insights

Technology has bifurcated the Intelligent Process Automation Market data into Machine Learning, Natural-Language Processing and Cognitive Technology. The Machine Learning segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. In 2022, the machine learning market category had more than 32% of the market share. The virtual agent market, on the other hand, is anticipated to grow throughout the projected period. The popularity of virtual agents is growing as their use spreads across financial organizations. Financial institutions are increasingly making innovation investments and looking for methods to integrate robotic process automation (RPA) with virtual agents, machine learning, cognitive services, and analytics.

Intelligent Process Automation Organization Size Insights

Organization Size has bifurcated the Intelligent Process Automation Market data into SMEs and Large Enterprises. The SMEs segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Via the United States Agency for International Development, the U.S. Government initiated a digital transformation effort for 200 Micro, Small, and Medium-sized Businesses (MSMEs) in the manufacturing, agricultural, and metalworking sectors (USAID). Businesses can update their manufacturing and marketing with this initiative, opening up new channels for electronic commerce and digital marketing.

Intelligent Process Automation Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Intelligent Process, Automation market area will dominate this market. Regional development is being fueled by increased enterprise use of process management and automation solutions in the United States. The primary drivers of segmental development are increased expenditure on corporate operations optimization and the widespread adoption of cutting-edge technologies like A.I., machine learning, and RPA. Also, significant suppliers in the area would promote growth.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: INTELLIGENT PROCESS AUTOMATION MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

In 2022, Europe Intelligent Process Automation market held a share of more than 31%. The European BFSI industry is anticipated to embrace intelligent process automation technologies to improve banking procedures. Businesses with operations in Europe and Asia, like A.S. Watson Group, are concentrating on deploying Natural Language Processing capabilities for precise demand management and sales forecasting. Large-scale automation may contribute to considerable cost reductions in various industrial industries. Forklift truck drivers and industrial employees in Europe are among the job prospects PepsiCo screens and interviews using cutting-edge robotic technologies. Further, the German Intelligent Process Automation market held the largest market share, and the U.K. Intelligent Process Automation market was the fastest-growing market in the European Region.

Asia Pacific Intelligent Process Automation market is anticipated to grow at the quickest CAGR throughout the projection period. Due to the rise in online transactions in the two nations, the BFSI industry in China and India is expanding. The need for intelligent process automation solutions and services is further boosted by growing knowledge of automation, machine learning, and artificial intelligence. The primary drivers of regional market growth include globalization, economic development, digitization, and greater usage of cloud-based technologies. Moreover, China’s Intelligent Process Automation market held the largest market share, and the Indian Intelligent Process Automation market was the fastest-growing market in the Asia-Pacific region.

Intelligent Process Automation Key Market Players & Competitive Insights

Leading market companies are making significant investments in R&D to broaden their product offerings, which will spur further expansion of the Intelligent Process Automation products market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Intelligent Process Automation industry market must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.

One of the primary business strategies manufacturers employs worldwide for the Intelligent Process Automation industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. Some of the biggest benefits to medicine in recent years have come from the Intelligent Process Automation industry. Major players in the Intelligent Process Automation market, including UiPath Inc. (U.S.), Dell EMC Corp. (U.S.), SAP SE (Germany), Blue Prism Group (U.K.), Salesforce.com Inc. (U.S.), IBM Corporation (US., and others, are attempting to increase market demand by investing in research and development operations.

The Brazilian RPA software vendor WDG Soluçes Em Sistemas E Automaço De Processos LTDA (also known as WDG Automation) and IBM announced on July 8, 2021, that a formal agreement had been achieved. This purchase will improve IBM's AI-infused automation capabilities, which span business processes and I.T. operations. It will be easier for executives like chief operating officers and chief information officers to access intelligent automation solutions utilizing software robots thanks to integrating WDG Automation's RPA offerings into IBM's existing automation capabilities, which are already infused with A.I. and cover both business processes and I.T. operations.

Hindustan Computers Limited, now HCL Technologies Ltd, is a global Indian information technology (I.T.) services and consulting firm headquartered in Noida. HCL Technologies said in September 2021 that DRYiCE iAutomate was now accessible through Google Cloud Marketplace.

Key Companies in the Intelligent Process Automation Market include

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  Dell EMC Corp. (U.S.)

  
  


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  SAP SE (Germany)

  
  


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  Blue Prism Group (U.K.)

  
  


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  comInc. (U.S.)

  
  


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  IBM Corporation (U.S.)

  
  

Intelligent Process Automation Industry Developments

Atos and Du extended their cooperation deal for another five years in October 2021. The agreement will help Du in application modernization and digital transformation.

According to Pegasystems, the Pega Platform got an upgrade in July 2021. A new functionality on the Pega Process AI helps businesses optimize real-time business and customer operations.

In 2022, Ascent (a company that provides AI-enhanced regulatory intelligence) partnered with Halo Ai (the leading enterprise risk management platform) to automize risk and compliance work through automation. For financial services compliance teams, Ascent offers solutions related to regulatory knowledge automation and transformation.

IBM and Tietoevry have recently announced a global partnership aimed at developing financial services technology in 2022. IBM Consulting would assist Tietoevry Banking in bringing its payment product portfolio, including instant payment solutions, payment hub, card suite, and virtual account management, to the cloud for financial services.

Hikrobot showcased its latest cutting-edge technology and intelligent solutions at the 16th edition of Automation Expo-2023, held in November 2023. Hikrobot launched four new products during this event. It also shows three types of Mobile Robots(LMR, FMR, and CTU). The event was inaugurated by Chief Guest Vinayak Pai, MD & CEO of Tata Projects, along with guest of honor Vinayak Marathe, Head of India Business Operations Phillips Townsend Associates, among other dignitaries from the Indian Automation Industry.

Accenture expanded its decades-long collaboration with Microsoft when they came together in June 2023. The collaboration was aimed at helping firms adopt generative AI’s disruptive power with support from the cloud, thereby leading to the total reconstitution of their enterprises. They are also co-developing new industry-specific AI-enabled solutions together with Avanade, which is their joint venture company that enables clients to harness generative AI throughout their organizations.

Bain & Company signed a strategic alliance agreement with Ashling Partners in May 2023. It is a leading global provider of automation consulting and implementation services and is recognized as the best expert leader in this field by the industry. In order to further strengthen its strategic partnership with an important collaborator within Bain–™s Vector digital practices, Bain is also directly investing in Ashling. Ashling is a well-known company that was supported by THL, one of the top private equity firms that invest in middle-market growing businesses.

Robocop announced its partnership with Siili Solutions Plc., a full-service development partner for innovating, designing, building, and running digital services, in June 2023. As leaders in open-source automation this collaboration enables organizations to migrate from legacy to modern intelligent process automation.

Intelligent Process Automation Market Segmentation

Intelligent Process Automation Data Type Outlook

• Structured


• Unstructured

Intelligent Process Automation Component Outlook

• Solutions


• Services

Intelligent Process Automation Deployment Outlook

• On-Premise


• Cloud

Intelligent Process Automation Technology Outlook

• Machine Learning


• Natural-Language Processing


• Cognitive Technology

Intelligent Process Automation Organization Size Outlook

• SMEs


• Large Enterprises

Intelligent Process Automation Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America