Intelligent Automation Market by Component (Software, Services) Enterprise (Large Enterprise, Small and Medium Enterprise), Industry (Automotive, Pharmaceutical, Retail and E-commerce, Manufacturing, BFSI) and Region- Global Forecast to 2028
Intelligent automation (IA) is also defined as cognitive automation. Further, it is the use of automation technologies such as artificial intelligence (AI), business process management (BPM), and robotic process automation (RPA) which is mainly used to streamline decision-making across organizations. In addition, intelligent automation helps simplify processes, free up resources, improves operational efficiencies, and has various applications. Moreover, intelligent automation helps to reduce the labor costs involved in industrial operations and supports industries in reforming the skills gap. Further, intelligent automation helps improve and increase human capabilities accuracy and speed.
The global intelligent automation market size is expected to grow from USD XX million in 2022 to USD XX million by 2028, at a CAGR of XX%. The key factors boosting market growth are the increasing adoption of RPA technology and collaborative robots across various industries.
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Drivers: Growing adoption of Robotic Process Automation (RPA) across industries
Robotic Process Automation (RPA) technology in industries is being accepted rapidly as it can enable software bots to replicate human actions and perform several tasks more effectively. The adoption of RPA technology across various industries such as Banking, Financial Services, Insurance (BFSI), and Healthcare is growing significantly. Further, it helps to enhance operational efficiency, reduce operation time, and ensure high security. Thus, this RPA technology is considered one of the most significant components of intelligent automation.
Growing adoption of collaborative robots in small and medium-sized enterprises
Collaborative robots, also called cobots, are designed and directed in a way so that they can interact with humans in an industrial environment. These cobots help to lift the heavyweights in warehouses and intelligently remove the assembly lines. Collaborative robots are considered the most popular among small and medium-sized enterprises (SMEs). Generally, SMEs prefer collaborative robots so that they can lower their initial costs. In addition, owing to the significantly smaller size of collaborative robots and their ability to produce ROI in small-batch environments, they are being used excessively by SMEs.
Challenges: Lack of skilled labor
A major challenge in intelligent automation is the lack of skilled labor. If an industry is adopting intelligent automation in their facility, it requires extensive training of workers to make them understand and adapt to this technology. In addition, industrial automation is difficult to integrate with the existing system infrastructure. Hence, these factors are considered significant challenges in the growth of the intelligent automation market.
Key Market Players:
Accenture (Ireland), Avanade Inc. (US), Capgemini (France), CGI Inc. (Canada), Cisco Systems, Inc. (US), Cognizant Technology Solutions Corporation (US), Ernst & Young Global Limited (UK), IBM (US) and UiPath (US) are a few key players in the intelligent Automation market globally.
- In September 2022, Accenture helped to enable Cyient, considered a global manufacturing, engineering, and digital technology solutions company, to increase its business operations via digital technologies such as robotic process automation (RPA) and AI.
- In June 2022, CGI Inc. announced that it had achieved UiPath Service Network (USN) certification, which is required for its advanced robotic process automation (RPA) capabilities. This certification also helps to enhance the company’s position in the intelligent automation market.
- In July 2019, Capgemini launched the Intelligent Automation Platform (CIAP), designed to deliver the rapid deployment of automation for business industries. The technology based on AI supports various projects across the world and helps clients with transformation across their organizations.
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TABLE OF CONTENTS
1 Introduction
1.1. Study Objective
1.2. Market Definition
1.2.1. Inclusions and Exclusions
1.3. Market Scope
1.3.1. Markets Covered
1.3.2. Geographic Scope
1.3.3. Years considered for the study
1.4. Currency
1.5. Limitations
1.6. Market Stakeholders
2 Research Methodology
2.1. Research Data
2.1.1. Secondary and Primary Research
2.1.2. Secondar Data
2.1.3. Primary Data
2.2. Market Size Estimation
2.2.1. Bottom-up Approach
2.2.2. Top-down Approach
2.3. Data Triangulation
2.4. Research Assumptions
2.5. Risk Assessment
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Value Chain Analysis
5.4. Ecosystem
5.5. Pricing Analysis
5.5.1. Average Selling Prices (ASP) of Key Players
5.5.2. Average Selling Prices (ASP) Trend
5.6. Trends/Disruptions Impacting Customers
5.7. Technology Analysis
5.8. Porter’s Five Forces Analysis
5.9. Key Stakeholders & Buying Criteria
5.9.1. Key Stakeholders in Buying Process
5.9.2. Buying Criteria
5.10. Case Study
5.11. Trade Analysis
5.12. Patents Analysis
5.13. Key Conferences & Events
5.14. Tariff and Regulatory Landscape
5.14.1. Regulatory Bodies, Government Agencies, and Other Organizations
5.14.2. Regulations and Standards
6 Intelligent Automation Market, By Component
6.1. Introduction
6.2. Software
6.3. Services
7 Intelligent Automation Market, By Enterprise
7.1. Introduction
7.2. Large Enterprise
7.3. Small, and Medium Enterprise
8 Intelligent Automation Market, By Industry
8.1. Introduction
8.2. Automotive,
8.3. Electrical and Electronics
8.4. Pharmaceutical
8.5. Retail and E – commerce
8.6. Manufacturing
8.7. BFSI
8.8. Others
9 Intelligent Automation Market, By Region
9.1. Introduction
9.2. North America
9.3. Europe
9.4. Asia Pacific
9.5. RoW
10 Competitive Landscape
10.1. Introduction
10.2. Key Player Strategies/ Right to Win
10.3. Top 5 Company Revenue Analysis
10.4. Market Share Analysis
10.5. Company Evaluation Quadrant
10.5.1. Star
10.5.2. Emerging Leader
10.5.3. Pervasive
10.5.4. Participant
10.6. Startup/SME Evaluation Matrix
10.6.1. Progressive Companies
10.6.2. Responsive Companies
10.6.3. Dynamic Companies
10.6.4. Starting Blocks
10.7. Intelligent Automation Market: Company Footprint
10.8. Competitive Benchmarking
10.9. Competitive Situation and Trends
11 Company Profiles
11.1. Introduction
11.2. Key Players
11.2.1. Accenture
11.2.2. Avanade Inc.
11.2.3. Capgemini
11.2.4. CGI Inc.
11.2.5. Cisco Systems, Inc.
11.2.6. Cognizant Technology Solutions Corporation
11.2.7. Ernst & Young Global Limited
11.2.8. IBM
11.2.9. UiPath
11.2.10. WorkFusion, Inc.
12 Adjacent & Related Market
13 Appendix
Growth opportunities and latent adjacency in Intelligent Automation Market