The global intelligent process automation market is projected to be worth USD 31,377.0 million by 2030, growing at a CAGR of 12.6%. This growth can be credited to the growing acceptance of robotic procedure automation and AI in companies throughout the globe.
By the end of the decade, the APAC industry will account for the highest income, of approximately USD 13,473.1 million. Moreover, the APAC industry is projected to experience the highest CAGR, of approximately 14.6%, in the forecast period because of the surging acceptance of progressive technologies. Moreover, numerous nations in the region are accepting IPA platforms to improve their status in the worldwide business ecosystem.
In the coming few years, the solution category is expected to experience a higher CAGR, of around 14.8%. This is mainly because of the high acceptance of IPA solutions throughout the numerous businesses to rationalize workflow effectiveness. They allow huge enterprises and also SMEs to significantly decrease the time and prices related to the implementation of business processes and plans. According to experts, the key end users have already executed IPA solutions in their establishments, leading to the mechanization of over 70% of their everyday jobs.
In recent years, IT operations had the largest share, approximately 35%, mainly because of the addition of ML, AI, and DL to allow IT systems to have a better understanding of clients’ buying intent and to do useful tasks, like handling purchaser needs. AI and RPA are together supporting in addressing the active customer needs, hence increasing the intelligent process automation industry development.
The SMEs category is projected to experience a higher CAGR, of approximately 15.1%, in the coming few years, because of the surging acceptance of IPA solutions by SMEs to be more productive, basically by handling more information with a lesser workforce.
Furthermore, because of the better-quality working performance that IPA offers, this technology is becoming more popular in SMEs. Consequently, SMEs are now starting to utilize intelligent RPA to advance productivity and renovate manual business processes.
In recent years, the BFSI vertical accounted for approximately 30% intelligent process automation industry revenue share, credited to the utilization of IPA in customer facilities and for the safety of delicate data with high effectiveness. Numerous systems in the BFSI sector are associated together by interfaces, to permit the efficient flow of transaction-associated information. IPA solutions control and monitor such interfaces to guarantee that transactions run easily and that disorganizations in workflows are removed.
Hence, the growing acceptance of robotic procedure automation and AI in companies throughout the globe are the major factors contributing to the growth of the intelligent process automation market.
SOURCE:P&S Intelligence
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