Intelligent Process Automation (IPA): Benefits, Challenges, and Applications

OverviewThe Global Intelligent Process Automation Market is expected to reach USD 1,439.24 Billion by 2024 at a CAGR of 11.91% during the forecast period.

Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years.

Intelligent process automation is being rapidly adopted by organizations as it allows them to automate their tasks and decisions, thereby improving business processes and making IT operations more efficient.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6065Competitive AnalysisThe key players of the global intelligent process automation market are UiPath, Inc. (US), SAP SE (Germany), Dell EMC Corp. (US), Blue Prism Group (UK), IBM Corporation (US), Salesforce.com, Inc. (US), WorkFusion (US), Accelirate, Inc. (US), KOFAX INC. (US) and Pegasystems Inc. (US), Open Text Corp. (Canada), among others.

The market players are adopting several organic and inorganic growth strategies, such as product enhancement, launches, partnerships, agreements, and contracts to improve their position and excel in the global intelligent process automation market.

The upgrades to SAP's product will help automate business processes and make accurate predictions for better decisions.In October 2018, Pegasystems Inc. announced its strategic alliance with KPMG LLP.

However, the unstructured segment contributed less as compared to the Structured data in 2018.

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According to new market research report "Intelligent Process Automation Market by Component (Solutions and Services), Technology (NLP, Machine & Deep Learning), Application (IT Operations, Business Process Automation, and Application Management), Vertical, and Region - Global Forecast to 2023", The intelligent process automation market is estimated to be USD 7.50 billion in 2018 and is projected to reach USD 13.75 billion by 2023, at a CAGR of 12.9% during the forecast period.Key factors expected to drive the growth of the intelligent process automation market include the demand for automated IT systems that serve dynamic customer requirements, need for optimized resource utilization and enhanced decision-making, and increased investments for digital transformation of organizations.Browse and in-depth TOC on  “Intelligent Process Automation Market”68 - Tables58 - Figures173 - Pages The business process automation segment is expected to grow at the highest CAGR during the forecast period.Based on application, the business process automation segment is projected to grow at the highest CAGR during the forecast period.

Business Process Automation (BPA) helps companies discover, model, analyze, measure, improve, optimize, manage, and automate various business processes, thereby enhancing their performance.

Presently, companies are focused on undergoing digital transformation and exploring new ways to use AI to help automate operational processes and improve workflow efficiency.

Key benefits of intelligent process automation solutions include increased process efficiency and enhanced customer experience.

Organizations have readily adopted robotic process automation solutions in the past few years, and this trend is expected to gain traction with the presence of solution providers, such as Amazon Web Services (AWS), Microsoft, and Google, in this region.Key players operating in the intelligent process automation market include Accenture (Republic of Ireland), IBM (US), Cognizant (US), Genpact (US), Atos (France), Infosys (India), Tata Consultancy Services (India), Capgemini (France), Xerox Corporation (US), Pegasystems (US), Wipro (India), EXL Service (US), Thoughtonomy (UK), CGI Group (Canada), UiPath  (Romania), HCL Technologies (India), Happiest Minds (India), Symphony Ventures (India), Avasant (US), Avanade (US), Virtual Operations (UK), Sutherland Global Services (US), KPMG (Netherlands), Tech Mahindra (India), Blue Prism (UK), and Syntel (US).

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October 8, 2019: The Indian Ports Association has revealed that the country's top-12 major ports handled 348.44 million tonnes (MT) in the April-September period of the current financial year, recording a marginal 1.48 percent upswing.

The 12 ports had handled 343.37 MT cargo in the corresponding period of the previous financial year.

IPA attributed the 1.48 percent growth to higher handling of coking coal, fertilisers and iron ore.

The 12 major ports include Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), VO Chidambaranar, Visakhapatnam, Paradip and Kolkata (including Haldia).

Containers recorded a growth of 5.61 per cent in terms of TEUs (twenty-foot equivalent units).

Figures revealed that Deendayal port handled the highest traffic volume at 61.04 MT during the April-September period, followed by Paradip at 55.55 MT, Visakhapatnam at 34.75, JNPT at 34.41 MT, Kolkata (including Haldia) at 31.64 MT, and Mumbai at 30.10 MT.

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