Intelligent Process Automation Market Insight:

Intelligent process automation (IPA) refers to the presentation integration of artificial intelligence (AI) and related new technologies, includingcognitive automation, computer vision, and machine learning to robotic proceduremechanization to mark the border between people, robots, and systems easier. This convergence of technologies produces automation capabilities that dramatically elevate business value and competitive advantages for end users. The primary technologies that make up intelligent process automation include digital process automation (DPA), robotic process automation (RPA), and artificial intelligence (AI). Benefits of intelligent process automation include ensuring proper governance & minimizing risk, coordination of work between robots, people & systems, end-to-end visibility of processes & the customer journey, and agility & speed of process change, increasing its adoption in the market.

Intelligent Process Automation Market Scope and Structure Analysis:

Impact of COVID-19 on Intelligent Process Automation Market:

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global intelligent process automation market in 2020.
• As governments have imposed lockdowns to contain spread of the virus, manufacturing and production units are at halt across the globe, which can affect the intelligent process automation market in the short run.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increased acceptance rate of automation processes to convert workplacesproductivity drives the growth of the intelligent process automation market. In addition, In the digital revolution, the increase in investment by entrepreneurs and the ability to make faster decisions in business, the progress in the adoption of automation software has led to the growth of the intelligence process automation market. Also, growing internet penetration in developing countries, and growing smartphone operators is driving the growth of intelligent process automation market. Moreover, increasing adoption of process automation by telecommunication industry, healthcare industry, BFSI industry, and IT industry is propelling the growth of intelligent process automation market.However, high implementation cost is a major factor hampering the growth intelligent process automation market. Furthermore, development of a unified intelligent automation tool, increasing R&D developments, and building of digital workforces is anticipated to provide major opportunities in the intelligent process automation market in forecasted years.

 Increase in adoption of intelligent process automation in banking industry

Intelligent process automation is a state where organizations necessity to bring data to consumers, but manual tasks yield up major time, such as insurance claims handling or automating consumer requests. Thus, adoption of intelligent process automation reduced time and increase efficiency of business. For instance, Bancolombia, One of the largest banking groups in Latin America, is using bizagi as its intelligent process automation platform to deliver enhanced customer service, both digitally and in-branch, aiding robots and humans to work together effectively.

Increasing usage of intelligent process automation in telecommunication

Numerous incoming messages from mobile phone users are repetitive, often only demanding minor changes to their plan. Common requests include changes to address, eliminating a mark from their provision plan or giving their phone bill, all small changes that add up to several hours.Intelligent process automation with natural language processors (NLPs) can scan and control the determined of an inwardconsumer message. Provisional on the message content, it creates an automatic reply, informs the customer’s current plan routinely or routes the message to the proper department.Thus, increasing adoption of intelligent process automation platform among telecom operators.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global intelligent process automation industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global intelligent process automation market share.
• The current market is quantitatively analyzed from 2021 to 2027 to highlight the global intelligent process automation market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global market analysis depending on competitive intensity and how the competition will take shape in coming years.