Intelligent Process Automation Market Sales Revenue, Growth Factors, Future Trends, and Demand by Forecast to 2030

Market Overview:

The Intelligent Process Automation Market will register a CAGR of 11.91%, witnessing substantial growth during the forecast period. The market has a market value of USD 8200.3 million in 2019, and the same is expected to reach USD 1,4392.4 million by the end of the current forecast period. North America accounted for the most significant market value of USD 2624.6 million in 2018; the market is expected to register a CAGR of 10.83% during the forecast period.

Intelligent process automation (IPA) stands for application technology. Its software is designed with extra features like artificial intelligence and related new technologies, including cognitive automation, machine learning, and computer vision, which are used for high volume handling and repeatable tasks. It is constructive in improving business processes by reducing the human hand to assist workers by eliminating repetitive, replicable, and routine tasks. Thus, it enhances the customer experience by simplified methods and techniques.

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Market Segmentation:

The global intelligent process automation market has been divided into segments based on data type, component, deployment, technology, organization size, vertical, and region.

Based on Data Type:

Based on data type, the intelligence process automation is divided into two kinds Structured and Unstructured.

Based on Component:

The intelligence process automation based on components has two types Solutions and Services.

Based on Deployment:

The intelligence process automation by deployment is divided into On-Premise and Cloud.

Based on Technology:

The global intelligence process automation market by technology is segmented into three types Machine learning, Natural-Language Processing, and Cognitive Technology. Machine learning holds the largest share for its benefits, like allowing computers to automatic education without any human assistance or intervention—advanced technologies like voice recognition and image recognition systems based on machine learning fuel the market growth.

Regional analysis:

Intelligent process automation is segmented into Asia Pacific, North America, Europe, and other parts. With the better infrastructure and advancement of technology in North America, it has the largest market share. The Asia Pacific is growing because of the significant growth of technology and adaptation to advancement in India and China.

Industry News:

In June 2019, to extend automation capabilities intelligently in the cloud, a major key player Blue Prism acquired an intelligent automation industry, Thoughtonomy. To combine AI, RPA, cloud deployment in a single platform, this acquisition proves to be futuristic and helpful and is for scaling automation strategy at a high rate.

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About Market Research Future:

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