Published: June 2022 | Report Code: 12385 | Available Format: PDF
The global intelligent process automation market size stood at $10,801.5 million in 2021, which is expected to reach $31,377.0 million by 2030, propelling at a CAGR of 12.6% during 2021–2030. This is mainly ascribed to the rising adoption of robotic process automation and AI in enterprises all over the world.
In 2030, the APAC market will account for the highest revenue, of around $13,473.1 million. Additionally, the APAC market is expected to register the highest CAGR, of around 14.6%, in the forecast period due to the rising adoption of advanced technologies. Additionally, several countries in the region are adopting IPA platforms to advance their position in the global business ecosystem.
For instance, in India, MyGov used Amplify.ai's conversational AI platform to deliver useful and timely pandemic-related information to citizens, in order to bridge the information gap created by fake news. Furthermore, MyGov was able to utilize the rigorous conversational AI technology on Google’s business messages, which assisted in the discovery of approximately 11,000 shelters in 700 cities during COVID-19.
Similarly, in April 2020, the Government of India announced the launch of the Aarogya Setu application for the early identification, monitoring, and isolation of patients affected by COVID-19. The app collects geotagged data, which assists government agencies in building area-specific decisions to control COVID-19 cases.
Seeing the high demand, several companies in the regional intelligent process automation market are actively launching such AI-powered solutions to better their position. For instance, in February 2020, Bespoke Co. Ltd. announced the launch of an AI-powered chatbot, known as Bebot, in Japan to inform travelers regarding the latest COVID-19 news.
North America is expected to hold the second-largest market share, of around 35%, in 2030, owing to the growing enterprise adoption of process management and automation solutions in the U.S. In addition, the rising adoption of various advanced technologies, such as AI, ML, and RPA, across the region, as well as the increasing spending to optimize business operations, drive the market growth.
The demand for RPA in the region is growing in several sectors, such as retail, healthcare, and education. Furthermore, the region has the presence of major RPA solution providers and the ability to successfully accept and implement this technology. Moreover, because of the extensive government support for RPA, the U.S. held the larger regional market share in 2021. Several government agencies are using it to eliminate compliance issues, reduce their backlog, improve throughput, and save costs.
For instance, in January 2020, the General Services Administration (GSA) announced the initial publication of its Federal RPA Program Playbook, which is designed to assist agencies in establishing new RPA programs and providing guidance for existing programs. The GSA states that the current RPA programs employed by government agencies reduce workload by five hours per employee. If the government deployed RPA at scale and eliminated 20 hours of workload per employee, it would gain a net capacity of $3 billion.
Furthermore, as a large, economically diverse country, Canada is undergoing automation to various degrees. As its economy is diverse, the rate of adoption of technologies such as RPA and intelligent automation is different for different industries. In the country, the frontrunner in deploying automation is the BFSI industry, which is doing so to meet the ever-increasing demands of clients for digital services and to remain competitive. For instance, the Royal Bank of Canada (RBC), one of the largest financial institutions in the country, is using smart chatbots to improve its customer service; thus, the country is experiencing significant growth in the regional market.
The solution category is projected to witness the higher CAGR, of approximately 14.8%, in the forecast period. This is on account of the high adoption of IPA solutions across various industries to streamline workflow efficiency. They enable large enterprises as well as SMEs to significantly reduce the time and costs associated with completing business processes and workflows. As per experts, the major end users have already implemented IPA solutions in their organizations, leading to the automation of more than 70% of their tasks.
Report Attribute | Details |
Historical Years |
2017-2021 |
Forecast Years |
2022-2030 |
Market Size in 2021 |
$10,801.5 Million |
Revenue Forecast in 2030 |
$31,377 Million |
Growth Rate |
12.6% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regulatory Scenario; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Offering; By Deployment; By Technology; By Application; By Organization; By Vertical; By Region |
Explore more about this report - Request free sample pages
IT operations held the largest share, of around 35%, in 2021 due to the integration of ML, AI, and DL to empower IT systems to gain a better understanding of customers’ purchase intent and to perform useful tasks, such as handling customer requirements. AI and RPA are together assisting in addressing the dynamic customer requirements, hence intensifying the intelligent process automation market growth.
Application management is expected to register the highest CAGR, of around 13.0%, in the forecast period due to the active participation of prominent players in advancing their position in the IPA market. For instance, in June 2021, Atos SE and du signed an extension for their collaboration for the five years, to assist du in the application modernization and digital transformation.
The SMEs category is expected to witness the higher CAGR, of around 15.1%, in the forecast period due to the rising adoption of IPA solutions by SMEs to be more productive, essentially by handling more data with a smaller workforce. In addition, due to the improved operational performance that IPA provides, this technology is becoming more common in SMEs. Consequently, SMEs are now starting to use intelligent RPA to improve productivity and transform manual business processes.
The BFSI vertical accounted for an around 30% intelligent process automation market revenue share in 2021, owing to the use of IPA in customer services and for the protection of sensitive data with high efficacy. Multiple systems in the BFSI industry are linked together by interfaces, to allow for the streamlined flow of transaction-related data. IPA solutions control and monitor these interfaces to ensure that transactions run smoothly and that inefficiencies in workflows are eliminated.
In addition, RPA assists BFSI firms in transforming their operational processes, by integrating with their legacy systems through the deployment of bots. The back-end operations of banks as well as other financial service providers can be transformed with RPA to deliver quality output at a significantly reduced cost. Additionally, RPA assists various BFSI firms in compliance management, credit card and loan processing, mortgage processing, report automation, fraud detection, and account closure.
Healthcare and pharmaceutical firms are expected to register the highest CAGR, of around 16.1%, in the forecast period. IPA enables healthcare professionals and pharmaceutical companies to reduce their operational costs, apart from providing quality care to patients. Additionally, this leads to the improvement in complete healthcare operations, ranging from patient registration to the final payment collection. In addition, it leads to a paradigm shift from labor-intensive, error-prone activities to strategic decision-making, to enhance healthcare quality, thereby offering a bigger intelligent process automation market growth potential.
In recent years, players in the market have been involved in product launches and collaborations in order to attain a significant position. For instance:
The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.
Based on Offering
Based on Deployment
Based on Technology
Based on Application
Based on Organization
Based on Vertical
Geographical Analysis
Between 2021 and 2030, the market for intelligence process automation solutions will witness a CAGR of 12.6%.
North America dominates the intelligent process automation industry.
The market for intelligent process automation solutions generated $10,801.5 million in 2021.
Players in the intelligent process automation industry are collaborating with each other and launching newer solutions.
The market for intelligent process automation solutions is driven by organizations’ need for reduced operational costs and human error count and higher productivity.
Get a bespoke market intelligence solution
Want a report tailored exactly to your business strategy?
Request CustomizationWant an insight-rich discussion with the report author?
Speak to AnalystOur dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws