COVID-19 Impact On Intelligent Process Automation Market

Key players adopted various growth strategies, such as partnerships and new service launches, to expand their presence further in the impact of COVID-19 Impact on Intelligent Process Automation Market

 Global Intelligent Process Automation (IPA) market’s pre-COVID size was expected to be USD 10.0 billion in 2020 and USD 16.3 billion in 2025. The COVID-19 global pandemic is sending shockwaves throughout the financial markets, disrupting the supply chain, the elasticity of goods, and significantly impacting the way we engage in normal business activities. As a result, organizations of all sizes are witnessing financial crunch, limiting their liquidity and restraining investment in IT infrastructure. According to IDC, IT spending will be registering a decline of 2.5% in 2020, in comparison to 2019, when it was growing around 5%. However, the most significant impact may be on the operational aspect of businesses. Many organizations are currently evaluating ways to minimize COVID-19’s impact on their day-to-day operations, testing BCPs (business continuity plans), implementing work from home (WFH) protocols, and showing very strong intent on digital transformation efforts to combat the disruption. As a result, early adopters ought to gain a competitive advantage over that of late adopters. IPA solutions can assist organizations in successfully driving value throughout these challenging times, and amid the opportunities they present. For instance, Pegasystems launched application such as crisis response solution, small business lending reference application and track the spread of COVID-19 among employees for its clients and small business to solve the challenges caused by Covid-19

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The major vendors in the IPA market include Accenture (Ireland), Atos (France), IBM (US), Capgemini (US), Cognizant (US), Blue Prism (UK), TCS (India), Wipro (India), CGI (Canada), HCL technologies (India), Tech Mahindra (India), UiPath (US), Xerox (US), DXC Technology (US), NTT Data (Japan) Infosys (India), Pegasystems (US), PwC (UK), These players have adopted various growth strategies, such as partnerships and new service launches, to expand their presence further in the impact of COVID-19 on the IPA market and broaden their customer base.

IBM (US) is a major player in the global IPA market. The company is working closely with the White House Office of Science and Technology Policy, and the US Department of Energy to launch COVID-19 High-Performance Computing Consortium to help researchers understand COVID-19 cures and treatment. COVID-19 diagnostics, research, and testing.

Related Reports:

COVID-19 Impact On Intelligent Process Automation Market by Component, Vertical, and Region - Global Forecast to 2025

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Report Code
TC 7697
RI Published ON
7/2/2020
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