Intelligent Process Automation Market Size and Forecast to 2027

Market overview:

The Global intelligent Process Automation Market was valued at $8.1 billion in the year 2021 and it is estimated to reach $15.2 billion by 2027, with a CAGR of 12.5% from 2021 to 2026.

Intelligent Process Automation most commonly refers to the application of Artificial Intelligence and related new technologies, including Computer Vision, Cognitive automation, and Machine Learning to Robotic Process Automation; these are the main factors that have considerably increased the demand for Intelligent Process Automation in the market, thereby driving the huge growth of the Intelligent Process Automation market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Intelligent Process Automation in the market mainly due to the huge rise in the demand for automated processes to modify the way the operations are performed at workplaces are the prime reason for an upward trend in the market. The rise in investment by medium and small-sized firms to comprehend the digitized market is also a factor in the increased demand for intelligent process automation technology. The aim to achieve optimized resources that provide automated processes without the need for human intervention will also improve the demand for this technology.

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The report is segmented as:

The intelligent Process Automation Market is segmented based on by:

By Component into Service, Solution

By Deployment Mode Cloud, On-Premise

By Organization Size Large Enterprises, SMEs

By Technology Natural Language Processing, Machine and Deep Learning, Neural Networks, Virtual Agents, Mini Boats, Computer Vision, Others

By Application Enterprise Content Management, Business Process Management, Customer Experience Management, Business Intelligence and Analytics, Enterprise Mobility, Others

By Industry Vertical BFSI, IT and Telecom, Automotive, Education, Retail, Agriculture, Healthcare, Others

Geographical Segmentation:

The intelligent Process Automation Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the rest of the world.

North America has the dominant share in Intelligent Process Automation due to the high adoption of artificial intelligence in the region and increased mobile penetration. These are the main factors that have considerably increased the demand for Intelligent Process Automation in the North American region, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa will register a slower increase in the Intelligent Process Automation Market

Impact of COVID-19 on the Market

Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact the growth of Intelligent Process Automation during the forecast period. The covid-19 pandemic has impacted huge on the sales revenue of the Intelligent Process Automation market, Due to the government restrictions like lockdown in many countries has stopped the production of products by manufacturing companies.

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