Fort Collins, Colorado, April 17, 2024 (GLOBE NEWSWIRE) --
Growing demand for operational efficiency to boost demand for intelligent process automation services.
The intelligent process automation market is experiencing a significant uptick in demand as organizations aim to bolster operational efficiency and streamline their workflows. Faced with the escalating complexity of business operations, companies are turning to solutions that automate repetitive tasks, freeing time to concentrate on core activities. Intelligent process automation harnesses a potent blend of robotic process automation, machine learning, and artificial intelligence, empowering businesses to optimize their workflows, minimize errors, and enhance productivity.
The intelligent process automation market presents various opportunities for integration with emerging technologies, such as the Internet of Things (IoT), blockchain, and 5G networks. By combining intelligent process automation with these cutting-edge technologies, organizations can unlock new possibilities for optimizing processes, enhancing transparency, and enabling real-time decision-making. For instance, integrating intelligent process automation with IoT devices can enable automatic data collection and processing, leading to more efficient operations and predictive maintenance strategies.
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Segmentation Overview:
The intelligent process automation market has been segmented into component, deployment mode, technology, organization size, end-use, and region.
The BFSI segment is projected to drive the segment share.
- The market is segmented by end-use into BFSI, retail, manufacturing, healthcare, IT & telecom, and others. The banking, financial services, and insurance (BFSI) sector holds a substantial share of the end-user segment. This sector has traditionally been an early adopter of automation technologies due to the need to efficiently process large volumes of data and transactions and regulatory compliance requirements.
Machine deep learning to register a significant market share.
- The market is segmented by technology into natural process automation, machine and deep learning, computer vision, virtual agents, and others. Machine and deep learning hold a significant share of the intelligent process automation market's technology segment. This technology has seen rapid advancements and widespread adoption across various industries for predictive analytics, pattern recognition, and decision-making tasks.
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Intelligent Process Automation Market Report Highlights:
- The intelligent process automation market growth is anticipated at a CAGR of 13.9% by 2032.
- Growing demand for operational efficiency and integration with emerging technologies is expected to drive the industry growth.
- North America accounted for a significant market in 2023 and is projected to retain a dominant position in the coming years.
- Some prominent players in the intelligent process automation market report include UiPath, Automation Anywhere, Blue Prism, WorkFusion, Kofax, NICE, IBM, Pegasystems, Kryon Systems, AntWorks, Softomotive, EdgeVerve Systems, and others.
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