San Francisco, 17 December 2024: The Report Intelligent Process Automation Market Size, Share & Trends Analysis Report By Component, By Technology, By Deployment, By Organization Size, By Application, By End-Use, By Region, And Segment Forecasts, 2030 - 2030

The global intelligent process automation market size is expected to reach USD 44.74 billion in 2030 and is projected to grow at a CAGR of 22.6% from 2030 to 2030. 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.

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The emergence of technology-driven solutions, ease of availability related to innovative technologies, increasing adoption of automation, and expansion of multiple businesses on a global scale with the help of web-based technology advancements have resulted in an increasing need for effective performance enhancement solutions, automation technologies, and cost-reduction measures. This has led to a growing demand for intelligent process automation in recent years. Machine learning, Intelligent Character Recognition (ICR), and cognitive automation have helped industries develop complete process automation in warehousing, manufacturing, inventory management, and more.

Intelligent Process Automation Market Report Highlights

• Based on components, the services segment dominated the global intelligent process automation (IPA) market with a revenue share of 56.5% in 2024
• The solution segment is expected to experience significant CAGR during the forecast period.
• The machine learning (ML) technology segment accounted for the largest revenue share in the global industry in 2024
• The on-premise deployment segment is expected to experience significant growth during the forecast period.
• The large enterprise segment dominated the global industry for intelligent process automation in 2024
• Based on application, the business process automation segment accounted for the largest revenue share of the global market in 2024

For instance, Stellantis NV, one of the prominent companies in the automotive manufacturing industry, aims to deliver better products, reduce waste, and minimize size energy utility through its “Dare Forward 2030 strategic plan.” It plans to deploy automation, artificial intelligence, and other digital solutions for this. Currently, it uses Autodesk Construction Cloud, an AI-enabled robot guidance system, autonomous mobile robots (AMRs), and more.

Intelligent Process Automation Market Report Scope

Multiple new product developments and launches by key companies in the process automation or manufacturing intelligence industry are expected to drive the growth of this market. This includes innovations related to manufacturing assemblies, inspections, inventory management, workspace management, end-of-line testing, and more. For instance, MIRAI 2, software equipped with AI vision technology, assists manufacturers in effective robotic automation. The newly launched software empowers robots to navigate and engage with variances in shape, position, color, backgrounds, or lighting within their production environment with better abilities.