| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 18.9 Billion |
| 2025 Market Size | USD 20.5 Billion |
| 2030 Forecast | USD 31.3 Billion |
| Growth Rate (CAGR) | 8.8% |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Nature of the Market | Fragmented |
| Largest Application Category | IT Operations |
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The global intelligent process automation market size stands at an estimated USD 18.9 billion in 2024, which is expected to reach USD 31.3 billion by 2030, propelling at a CAGR of 8.8% during 2024–2030. This is mainly ascribed to the rising adoption of robotic process automation and AI in enterprises all over the world.
The biggest trend in the market is the usage of advanced technologies not only in business operations but in IPA itself as well. With the usage of AI, ML, IoT, NLP, supercomputing, neural networks, and other enhanced technologies, huge amounts of data is generated by companies on a daily basis. Handling it is becoming increasingly difficult for human employees, which is why data gathering, analysis, storage, and sharing processes are being rapidly automated across industries. This automation frees up humans and helps them focus on core tasks. Further, IPA solutions are themselves being integrated with these technologies to improve the outcomes of data analysis for companies in their growth journey. AI and its associated technologies can gather data more quickly, save it in the designated folder, analyze it to offer insights, and offer enhanced visualizations. They can even make predictions regarding the outcomes of business policies based on this data and suggest modifications.
The intelligent process automation market is driven by the increasing rate of digitization in businesses. As more workflows move to computers from pens and papers, the data volume continues to rise. Almost 402.74 quintillion bytes of data is generated every day, according to reports, 70% by users. Moreover, with the growing usage of IoT, M2M, and other connected machine technologies, the share of enterprises in global data generation is increasing. Handling it becomes tough for humans, which creates the requirement to automate several routine and mundane tasks, such as data entry, call routing, content post scheduling, and chart and presentation preparation. Moreover, as internet connectivity improves with the expansion of 5G and 6G networks, IPA software will be able to execute tasks with more efficiency and use data from across the enterprise and outside to predict outcomes and make better decisions.
A major restraint for the intelligent process automation market growth is the lack of skilled professionals to operate the software. Even through IPA automates tasks and reduces the requirement for humans, since it is an emerging technology, it requires significant knowledge and experience to integrate and operate it. To use this software would impel companies to hire more IT professionals, thus increasing their operational expenses initially. Further, the software is itself expensive, which is why only well-financed companies can afford.
Cyber risks are also omnipresent with such high-tech internet-dependent software. Such IPA tools store a lot of enterprise and personal data, its usage is strictly regulated by government agencies. With the increasing concerns of data privacy, these solutions need to be bolstered with proper cybersecurity tools, which further raises operational costs for companies. Additionally, the regular updates needed for these cybersecurity and the IPA solutions are ongoing expenses, thus further restraining smaller companies to leveraging it to its full potential.
The following offerings covered in the report:
The segment is bifurcated as below:
We have analyzed the below-mentioned technologies:
The report offers insights on the following applications:
Large enterprises hold the larger share, in 2024. This is because these companies have geographically dispersed operations and a large number of workflows and processes, which leads to the generation of massive amounts of data every day. To compete with SMEs in an era when everyone end customers desires cost-effectiveness, these companies are trying to scale down on resources by automating several repetitive and low-priority tasks. Additionally, their finances are strong enough to afford on-premises intelligent process automation solutions and additional cybersecurity tools for regulatory compliance.
The SMEs category is expected to witness the higher CAGR, 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.
Below are the categories of this segment:
The BFSI vertical accounts for the largest intelligent process automation market revenue share in 2024, 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, 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.
The verticals covered in the report are as follows:
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North America holds the market share, of around 40%, in 2024, 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. holds the larger regional market share. Several government agencies are using it to eliminate compliance issues, reduce their backlog, improve throughput, and save costs.
For instance, the General Services Administration (GSA)’s initial publication of its Federal RPA Program Playbook 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 USD 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 APAC market is expected to register the highest CAGR, of 10.0%, 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 uses 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 utilizes 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, the Government of India’s Aarogya Setu application uses IPA 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, Bespoke Co. Ltd. has launched an AI-powered chatbot, known as Bebot, in Japan to inform travelers regarding the latest COVID-19 news.
The following is the geographical segmentation of the market:
The market is fragmented due to the dominance of major IT vendors. This is itself because these solutions are complex and expensive to create as they are integrated with advanced digital technologies. Further, the major market players have comprehensive and customizable solutions for an enterprise’s entire workflow. They also operate under long-term contracts with end users, offering a range of professional and managed services over the solutions’ lifecycle as well. In recent years, players in the market have been involved in mergers and acquisitions in order to attain a significant position. For instance:
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