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Intelligent Process Automation Market with Covid-19 Impact Analysis by Component, Technology, Application, Business Function (IT, Finance & Accounts, and Human Resource), Deployment Mode, Organisation Size, Vertical and Region - Global Forecast to 2027

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    Report

  • 307 Pages
  • April 2022
  • Region: Global
  • Markets and Markets
  • ID: 4659471

Faster Decision-Making Across Organizations to Drive Market Growth

The publisher forecasts the global Intelligent Process Automation Market size is expected to grow USD 13.9 billion in 2022 to USD 21.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. 



By Application, the Contact Center Management segment to grow at the highest market share during the forecast period


Contact center management is a tool that organizations use to manage the daily operations of the workforce across multiple touchpoints and channels to assist omnichannel customer journeys. Contact center management includes workforce forecasting, agent scheduling, time management, employee empowerment and enrichment, reporting, and customer interactions. There is an increase in customer expectations; customers call for a change in pattern from customer service management to customer experience management. Contact centers are moving toward building a digital workforce in place of their automation strategy by integrating RPA, AI, NLP, ML, and analytics elements to automate their business processes. Developments are being done to automate processes that were earlier seen as non-automatable due to their input in unstructured formats, such as free flow text documents and scanned images. This is why newer technologies are developed to assist and help agents interact with customers and drive more satisfaction. 


By Organization Size, the Large Enterprises segment to hold the larger market size during the forecast period


Organizations with more than 1,000 employees are considered large enterprises. The adoption of the IPA solution among large enterprises is expected to increase in the coming years. The large enterprises are expected to have adopted the IPA solution for reducing operational costs, improving business functioning, enhancing operational efficiency, and sustaining the intense competition. With the increasing amount of data, processes, and tasks, large enterprises have started investing in IT infrastructure and technical expertise to automate their various tasks. The IPA solution helps save infrastructure costs, improve business functioning, and enhance agility. Large enterprises possess a huge amount of data across business functions, which they need to analyze for entity extraction, text classification, summarization, and sentiment analysis. Large organizations in BFSI, retail, healthcare, and telecommunications verticals need AI technology for identifying patterns in data. AI helps data management teams realize which practices are ineffective and what all are working best. Several organizational departments have been utilizing data to enhance their operations. For instance, sales departments that study consumer trends can get useful insights. AI makes sure that data reaches the right user without getting intercepted by cybercriminals who may employ man-in-the-middle, spear phishing, ransomware, spyware, or any other cyberattacks.


By Region, North America to grow at the highest market share during the forecast period


In terms of market size, North America is expected to be the major contributor to the IPA market during the forecast period. The US and Canada are expected to be the major contributors to the North American market. Enterprises in this region are the early adopters of technologies, such as machine learning, AI, NLP, and virtual bots adoption. Most of the North American industry verticals have already gone through digital transformation. This rapid adoption of technologies has led to the generation of massive data by North American companies and presented positive opportunities for the deployment of IPA software to maintain and manage such data. The automation of business processes results in less need for manpower and saves a lot of time and cost, enabling companies to focus on business-critical decisions. The presence of key players in North America, such as Cognizant, Genpact, IBM, Xerox, and Pegasystems, is also one of the factors driving the adoption of intelligent process automation solutions in the region. Industries such as BFSI, telecommunications & IT, transportation & logistics, manufacturing, and media & entertainment are at the forefront of adopting intelligent process automation solutions. A large number of organizations are shifting their focus toward automating internal business functions; this has created an opportunity to refine and streamline various business activities through intelligent process automation. These factors are expected to have led to the high adoption of intelligent process automation solutions in the North American region.


The breakup of the profiles of the primary participants is given below:

  • By Company: Tier 1 - 41%, Tier 2 - 38%, and Tier 3 - 21%
  • By Designation: C-Level Executives - 64%, Directors- 22%, Others*-14%
  • By Region: North America - 45%, Europe - 26%, APAC - 19%, Row - 10%
This research study outlines the market potential, market dynamics, and major vendors operating in the Intelligent Process Automation market. Key and innovative vendors in the Intelligent Process Automation Market include Atos (France), IBM (US), Genpact (US), HCL Technologies (India), Pegasystems (US), Blue Prism (UK), Capgemini (France), CGI (Canada), Nice (Israel), Cognizant (US), Infobip (England), Accenture (Ireland), Infosys (India), TCS (India), Tech Mahindra (India), UIPath (US), Wipro (India), Xerox (US), Happiest Minds (India), WorkFusion (US), Automation Anywhere (US), Virtual Operations (UK), Hive (US), HyperScience (US), Laiye (China), Cognigy (Germany), Jiffy.ai (US), Infinitus (US), ElectroNeek (US), Snorkel AI (US), Vianai (US), Kryon (Israel), Rossom (UK), Autologyx (UK), Automation Edge (US).


Research Coverage


Intelligent Process Automation market is segmented on component, technology, application, business function, deployment mode, organization size, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the intelligent process automation market. 


Key benefits of buying the report 


The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall intelligent process automation market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Breakdown of Primaries
2.1.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
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
(Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
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
*Details on Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix
List of Tables
Table 1 Intelligent Process Automation Market Size, By Component, 2016–2023 (USD Million)
Table 2 Component: Market Size, By Region, 2016–2023 (USD Million)
Table 3 Solutions: Market Size, By Type, 2016–2023 (USD Million)
Table 4 Solutions: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Software Tools: Market for Solutions, By Region, 2016–2023 (USD Million)
Table 6 Platforms: Market for Solutions, By Region, 2016–2023 (USD Million)
Table 7 Services: Market Size, By Type, 2016–2023 (USD Million)
Table 8 Services: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Professional Services: Market Size, By Type, 2016–2023 (USD Million)
Table 10 Professional Services: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Advisory/Consulting: Market for Professional Services, By Region, 2016–2023 (USD Million)
Table 12 Design and Implementation: Market for Professional Services, By Region, 2016–2023 (USD Million)
Table 13 Training: Market for Professional Services, By Region, 2016–2023 (USD Million)
Table 14 Support and Maintenance: Market for Professional Services, By Region, 2016–2023 (USD Million)
Table 15 Managed Services: Market Size, By Region, 2016–2023 (USD Million)
Table 16 Intelligent Process Automation Market Size, By Application, 2016–2023 (USD Million)
Table 17 Application: Market Size, By Region, 2016–2023 (USD Million)
Table 18 IT Operations: Market Size, By Region, 2016–2023 (USD Million)
Table 19 Business Process Automation: Market Size, By Region, 2016–2023 (USD Million)
Table 20 Application Management: Market Size, By Region, 2016–2023 (USD Million)
Table 21 Content Management: Market Size, By Region, 2016–2023 (USD Million)
Table 22 Security: Market Size, By Region, 2016–2023 (USD Million)
Table 23 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 24 Intelligent Process Automation Market Size, By Vertical, 2016–2023 (USD Million)
Table 25 Vertical: Market Size, By Region, 2016–2023 (USD Million)
Table 26 BFSI: Market Size, By Region, 2016–2023 (USD Million)
Table 27 Telecommunications and IT: Market Size, By Region, 2016–2023 (USD Million)
Table 28 Transport and Logistics: Market Size, By Region, 2016–2023 (USD Million)
Table 29 Media and Entertainment: Market Size, By Region, 2016–2023 (USD Million)
Table 30 Retail and Ecommerce: Market Size, By Region, 2016–2023 (USD Million)
Table 31 Manufacturing: Market Size, By Region, 2016–2023 (USD Million)
Table 32 Healthcare and Life Sciences: Market Size, By Region, 2016–2023 (USD Million)
Table 33 Others: Intelligent Process Automation Market Size, By Region, 2016–2023 (USD Million)
Table 34 Intelligent Process Automation Services Market Size, By Region, 2016–2023– (USD Million)
Table 35 North America: Intelligent Process Automation Services Market Size, By Country, 2016–2023 (USD Million)
Table 36 North America: Market Size, By Component, 2016–2023 (USD Million)
Table 37 North America: Market Size, By Solution, 2016–2023 (USD Million)
Table 38 North America: Market Size, By Services, 2016–2023 (USD Million)
Table 39 North America: Market Size, By Professional Services, 2016–2023 (USD Million)
Table 40 North America: Market Size, By Application, 2016–2023 (USD Million)
Table 41 North America: Market Size, By Vertical, 2016–2023 (USD Million)
Table 42 Europe: Intelligent Process Automation Market Size, By Country, 2016–2023 (USD Million)
Table 43 Europe: Market Size, By Component, 2016–2023 (USD Million)
Table 44 Europe: Market Size, By Solution, 2016–2023 (USD Million)
Table 45 Europe: Market Size, By Services, 2016–2023 (USD Million)
Table 46 Europe: Market Size, By Professional Services, 2016–2023 (USD Million)
Table 47 Europe: Market Size, By Application, 2016–2023 (USD Million)
Table 48 Europe: Market Size, By Vertical, 2016–2023 (USD Million)
Table 49 Asia Pacific: Intelligent Process Automation Services Market Size, By Country, 2016–2023 (USD Million)
Table 50 Asia Pacific: Market Size, By Component, 2016–2023 (USD Million)
Table 51 Asia Pacific: Market Size, By Solution, 2016–2023 (USD Million)
Table 52 Asia Pacific: Market Size, By Services, 2016–2023 (USD Million)
Table 53 Asia Pacific: Market Size, By Professional Services, 2016–2023 (USD Million)
Table 54 Asia Pacific: Market Size, By Application, 2016–2023 (USD Million)
Table 55 Asia Pacific: Market Size, By Vertical, 2016–2023 (USD Million)
Table 56 RoW: Intelligent Process Automation Market Size, By Country, 2016–2023 (USD Million)
Table 57 RoW: Market Size, By Component, 2016–2023 (USD Million)
Table 58 RoW: Market Size, By Solutions, 2016–2023 (USD Million)
Table 59 RoW: Market Size, By Services, 2016–2023 (USD Million)
Table 60 RoW: Market Size, By Professional Services, 2016–2023 (USD Million)
Table 61 RoW: Market Size, By Applications, 2016–2023 (USD Million)
Table 62 RoW: Market Size, By Vertical, 2016–2023 (USD Million)
Table 63 Market Evaluation Framework
Table 64 New Product Launches & Product Enhancements, April 2016-August 2018
Table 65 Agreements, Alliances, Collaborations, and Partnerships, April 2016-July 2018
Table 66 Acquisitions, June 2016- August 2018
Table 67 Expansions, February 2016-August 2018
Table 68 Market Ranking of Key Players in Intelligent Process Automation Market, 2017
List of Figures
Figure 1 Intelligent Process Automation Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Global Market: Research Design
Figure 4 Research Methodology
Figure 5 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Intelligent Process Automation Evolution
Figure 10 Intelligent Process Automation Market Size, 2016-2023
Figure 11 Intelligent Process Automation Analysis
Figure 12 Fastest Growing Segments in Market, 2018-2023
Figure 13 Regional Analysis, 2018
Figure 14 Increasing Demand for Improved Business Process Efficiency Drive Intelligent Process Automation Growth During Forecast Period
Figure 15 Solutions Segment to Hold Larger Market Share
Figure 16 Platforms Segment to Hold Larger Market Share
Figure 17 Professional Services Segment to Hold Larger Market Share
Figure 18 IT Operations Segment to Hold Largest Market Share
Figure 19 BFSI Segment to Hold Largest Market Share During Forecast Period
Figure 20 North America Estimated to Hold the Largest Market Share in 2018
Figure 21 Asia Pacific to Emerge as the Best Market for Investments During Forecast Period
Figure 22 Intelligent Process Automation Market: Drivers, Restraints, Opportunities, and Challenges
Figure 23 Intelligent Process Automation Ecosystem: By Technology
Figure 24 Services Segment Expected to Grow at A Higher CAGR During the Forecast Period
Figure 25 Platforms Segment Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Managed Services Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Support and Maintenance Services Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Intelligent Process Automation Technologies
Figure 29 Business Process Automation Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 Telecommunications and IT Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Asia Pacific: A Hotspot in the Intelligent Process Automation Market During the Forecast Period
Figure 33 North America: Market Snapshot
Figure 34 Asia Pacific: Market Snapshot
Figure 35 Companies Adopted Agreements, Alliances, Collaborations, & Partnerships as Key Growth Strategies Between February 2016-August 2018
Figure 36 Accenture: Company Snapshot
Figure 37 Accenture: SWOT Analysis
Figure 38 Atos: Company Snapshot
Figure 39 Atos: SWOT Analysis
Figure 40 Blue Prism: Company Snapshot
Figure 41 Capgemini: Company Snapshot
Figure 42 Cognizant: Company Snapshot
Figure 43 Cognizant: SWOT Analysis
Figure 44 CGI: Company Snapshot
Figure 45 EXL: Company Snapshot
Figure 46 Genpact: Company Snapshot
Figure 47 Genpact: SWOT Analysis
Figure 48 HCL Technologies: Company Snapshot
Figure 49 IBM: Company Snapshot
Figure 50 IBM: SWOT Analysis
Figure 51 Infosys: Company Snapshot
Figure 52 KPMG: Company Snapshot
Figure 53 Pegasystems: Company Snapshot
Figure 54 Syntel: Company Snapshot
Figure 55 TCS: Company Snapshot
Figure 56 Tech Mahindra: Company Snapshot
Figure 57 Wipro: Company Snapshot
Figure 58 Xerox: Company Snapshot

Companies Mentioned

  • Accenture 
  • Atos 
  • Autologyx 
  • Automation Anywhere 
  • Automation Edge 
  • Blue Prism 
  • Capgemini 
  • CGI 
  • Cognigy 
  • Cognizant 
  • ElectroNeek 
  • Genpact 
  • Happiest Minds 
  • HCL Technologies 
  • Hive 
  • HyperScience 
  • IBM 
  • Infinitus 
  • Infobip 
  • Infosys 
  • Jiffy.ai 
  • Kryon 
  • Laiye 
  • Nice 
  • Pegasystems 
  • Rossom 
  • Snorkel AI 
  • TCS 
  • Tech Mahindra 
  • UIPath 
  • Vianai 
  • Virtual Operations 
  • Wipro 
  • WorkFusion 
  • Xerox 

Methodology

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Table Information