The market for intelligent process automation is majorly propelled by rapid developments in the market for connected devices. Many changes are being implemented in workplaces due to the rising adoption of automation processes which in turn, is surging the demand for intelligent process automation global market. Machines with automated intelligence analyze huge amount of structure and unstructured data and automate the processes intelligently to offer better operational and business efficiency. In the digital era, the automation concept is evolving coupled with the advancements in technology. This further adds to more human brain capabilities into machines on a daily basis.
Transparency Market Research announced a new addition report titled as “Intelligent Process Automation Market Global Forecast from 2018 to 2023”. The report offers a comprehensive study on the drivers, growth, and opportunities influencing the global intelligent automation process market. It further uses research methodologies to anticipate the global market with the help of revenue data of key players.
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Global Intelligent Automation Process Market: Key Benefits and Challenges
With the increase in emerging and evolving technologies, the global intelligent automation process market is expected to bolster in demand during the forecast period. Intelligent automation process enables humans with cutting-edge technologies and methods for smarted and faster decisions. Although there are numerous benefits offered by intelligent process automation, but some of the main benefits have positively impacted the global market. These benefits include enhancing customer experience, cost and risk reduction, workforce productivity optimization, improving process efficiency, effective fraud detection and monitoring, and service and product innovation. These benefits empowers a business to run more efficiently in terms of the effort and time spent on any activity. In addition to this, one of the technologies used to avoid repetitive tasks is robotic process automation RPA. This tool ceases the occurrence of repeated tasks as data extraction via existing interfaces from users. Another tool named smartflow technology is used to monitor the status of complete task performed by different humans and machines. All the above tools are expected to be preferred by most of the key players in intelligent automation process market. This is likely to result in the growth of global market in the forecast period.
In spite of the benefits the market highlights, there are some challenges which are projected to hinder the development of global intelligent automation process market. Lack of awareness and technical expertise and some operational issues are going to limit the growth of this market.
However, the market is likely to expand in artificial intelligence solutions on the account of increasing developments and business complexities throughput the forecast period.
Global Intelligent Automation Process Market: Regional Outlook
The global market intelligent automation process market is covered with different geographical regions including Europe, North America, Asia Pacific, and some other regions. Owing to rapid improvements in technology, North America is anticipated to lead the market in the forecast period. Adding to this, U.S has numerous manufacturing industries which are adopting intelligent automation processes in their factories to ensure efficient operations. Also as the countries in the North America region are well-established, majority of the companies have started investing in R&D activities. On the other hand, Europe and Asia Pacific are also expected to surge in demand for the intelligent automation process in the coming years.
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Global Intelligent Automation Process Market: Competitive Insight
Some of the major players operating in the global intelligent automation market include Symphony Ventures (India), HCL Technologies (India), Pegasystems (US), Virtual Operations (UK), Syntel (US), Happiest Minds (India), Cognizant (US), IBM (US), Tech Mahindra (India), Thoughtonomy (UK), Xerox Corporation (US), Wipro (India), KPMG (Netherlands), Sutherland Global Services (US), CGI Group (Canada), Infosys (India), Atos (France), EXL Service (US), Avasant (US), Accenture (Republic of Ireland), UiPath (Romania), Genpact (US), Blue Prism (UK), Tata Consultancy Services (India), and Capgemini (France)
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