Intelligent Process Automation Market Expected to Reach $50.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Intelligent Process Automation Market," The intelligent process automation market size was valued at $13.4 billion in 2022, and is estimated to reach $50.7 billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.

Intelligent process automation (IPA) requires the integration of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA), to automate processes and provide insight into complex tasks, decision-making, and analysis of the Organization has increased strategies. It uses algorithms and data-driven techniques to streamline operations, optimize resource allocation, and improve overall operational efficiency and efficiency. Furthermore, IPA encourages innovation by augmenting human capabilities with AI-driven insights. It enables them to identify new opportunities, improve processes, and develop innovative solutions that create competitiveness in the marketplace. Ultimately, automated science systems empower end users by streamlining operations, improving decision-making, and promoting innovation, and overall performance in various industries.

For end users, IPA offers several benefits by accelerating business agility by automating repetitive tasks, allowing companies to focus on high-value activities. This speed not only increases productivity but also accelerates response time by meeting changing business needs in a dynamic environment. Further, IPA uses data analytics and predictive models to derive meaningful insights from large datasets. This leads to informed decision-making, and risk mitigation, and improves the accuracy and precision of the strategic planning process.

Furthermore, major intelligent process automation industry players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, in October 2023, Rockwell Automation, Inc. and Microsoft Corp. extended their longstanding partnership to accelerate industrial automation design and development through generative artificial intelligence(AI). Companies are combining technologies to empower the workforce and accelerate time-to-market for customers building industrial automation systems. The first outcome of this collaboration will add Microsoft’s Azure OpenAI Service into FactoryTalk Design Studio to deliver industry-first capabilities accelerating time-to-market for their customers building industrial automation systems.

By deployment mode, the on-premises segment held the highest intelligent process automation market in 2022, owing to the growing emphasis on certain legacy systems and unique operational needs that prompt organizations to adopt on-premises IPA solutions. However, the cloud is expected to grow as the fastest-growing segment during the forecast period, owing to key trends including the integration of AI and analytics within cloud-based IPA to enhance decision-making capabilities and predictive analysis.

By region, the intelligent process automation software market was dominated by North America in 2022 and is expected to maintain this trend during the forecast period, owing to the growing government initiatives and investments in enhancing national security and defense capabilities are also contributing to the growth of this market. However, Asia-Pacific is expected to grow as the fastest-growing segment during the forecast period. Financial institutions are embracing IPA to enhance fraud detection and risk management, while healthcare organizations leverage automation for patient data analysis and personalized care.

The COVID-19 pandemic significantly accelerated the growth and adoption of intelligence process automation (IPA) within various industries. With remote work becoming the norm, organizations sought efficient ways to streamline their operations. IPA, leveraging AI and machine learning, played a pivotal role in automating routine tasks, data analysis, and decision-making processes. The pandemic's impact on the IPA market has fueled a surge in demand for automation solutions as businesses aimed to maintain productivity while minimizing physical presence. This led to increased investments in IPA technologies across sectors like healthcare, finance, manufacturing, and customer service. Furthermore, the pandemic highlighted the importance of agility and adaptability. Companies realized the necessity of scalable and flexible automation systems to cope with unpredictable circumstances.

Key Findings of the Study

• By component, the solution segment led the intelligent process automation market forecast in terms of revenue in 2022.
• By technology, the machine and deep learning segment led the intelligent process automation market analysis in terms of revenue in 2022.
• By deployment mode, the On-premises segment accounted for the highest Intelligent process automation market share in 2022.
• By organization size, the large enterprises segment led the intelligent process automation market in terms of revenue in 2022.
• By industry vertical, the IT and telecom segment accounted for the highest intelligent process automation industry in 2022.
• By region, North America generated the highest revenue in 2022.