According to new market research report "Intelligent Process Automation Market by Component (Solutions and Services), Technology (NLP, Machine & Deep Learning), Application (IT Operations, Business Process Automation, and Application Management), Vertical, and Region - Global Forecast to 2023", The intelligent process automation market is estimated to be USD 7.50 billion in 2018 and is projected to reach USD 13.75 billion by 2023, at a CAGR of 12.9% during the forecast period.Key factors expected to drive the growth of the intelligent process automation market include the demand for automated IT systems that serve dynamic customer requirements, need for optimized resource utilization and enhanced decision-making, and increased investments for digital transformation of organizations.Browse and in-depth TOC on “Intelligent Process Automation Market”68 - Tables58 - Figures173 - Pages The business process automation segment is expected to grow at the highest CAGR during the forecast period.Based on application, the business process automation segment is projected to grow at the highest CAGR during the forecast period.
Business Process Automation (BPA) helps companies discover, model, analyze, measure, improve, optimize, manage, and automate various business processes, thereby enhancing their performance.
Presently, companies are focused on undergoing digital transformation and exploring new ways to use AI to help automate operational processes and improve workflow efficiency.
Key benefits of intelligent process automation solutions include increased process efficiency and enhanced customer experience.
Organizations have readily adopted robotic process automation solutions in the past few years, and this trend is expected to gain traction with the presence of solution providers, such as Amazon Web Services (AWS), Microsoft, and Google, in this region.Key players operating in the intelligent process automation market include Accenture (Republic of Ireland), IBM (US), Cognizant (US), Genpact (US), Atos (France), Infosys (India), Tata Consultancy Services (India), Capgemini (France), Xerox Corporation (US), Pegasystems (US), Wipro (India), EXL Service (US), Thoughtonomy (UK), CGI Group (Canada), UiPath (Romania), HCL Technologies (India), Happiest Minds (India), Symphony Ventures (India), Avasant (US), Avanade (US), Virtual Operations (UK), Sutherland Global Services (US), KPMG (Netherlands), Tech Mahindra (India), Blue Prism (UK), and Syntel (US).
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