Intelligent Process Automation Market

IBM (US) and Accenture (the Republic of Ireland) are leading players in Intelligent Process Automation Market

The intelligent process automation market is projected to grow from USD 7.50 billion in 2018 to USD 13.75 billion by 2023, at a CAGR of 12.9% from 2018 to 2023. Some of the major factors driving the growth of the intelligent process automation market include the need for the improved automated IT systems to serve dynamic requirements of customers, optimized resource utilization using automation and minimal human intervention, and increased investments for the digital transformation aiding intelligent process automation.

Companies such as IBM (US), Accenture (the Republic of Ireland), Cognizant (US), Genpact (US), and Atos (France) offer intelligent process automation solutions and services for different industry verticals. These players have adopted various growth strategies such as collaborations, partnerships, acquisitions, and new product launches and enhancements to strengthen their position in the market. Partnerships, collaborations, and agreements account for more than half of the share of the total growth strategies adopted by these leading players in the intelligent process automation market from February 2016 to July 2018.

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IBM is one of the leading vendors in the intelligent process automation market. The company offers an extensive set of cloud cognitive, commerce, analytics, Internet of Things (IoT), mobile, and security products and solutions. It also caters to various business functions such as Customer Relationship Management (CRM), enterprise content management, Human Capital Management (HCM), financial management, Supply Chain Management (SCM), asset recovery, outsourcing, and software. The company makes timely updates to its product and service offerings, thereby ensuring that its product and service offerings are industry-ready and meet the requirements of its customers. For instance, the company launched IBM Watson based services platform built on the IBM Cloud to help organizations identify business problems and take proactive measures to address them. Furthermore, in 2017, IBM collaborated with Blue Prism to integrate the Robotic Process Automation (RPA) software of Blue Prism with IBM services. This integration is expected to help customers of the company to implement the latest automation and cognitive capabilities and accelerate the transformation of businesses through innovative digital business models to enhance its customer engagement and increase its productivity. In 2017, IBM partnered with Automation Anywhere to allow its customers to automate their operations and enhance the efficiency of their business processes using intelligent process automation.

Accenture is one of the vital players in the intelligent process automation market. It provides solutions and services for the strategy planning and consulting. It also offers digital and technology solutions and services. The company provides risk management services, enterprise architecture services, application development services, cloud computing services, system integration services, testing services, and security services for different industry verticals. Accenture launched its intelligent process automation platform, Accenture myWizard to offer smart, innovative, and efficient application services for the system integration and development and management of applications. This platform combines the industry and technology assets of Accenture and its business knowledge across 40 industries with intelligent automation using artificial intelligence. The company has adopted inorganic growth strategies to strengthen its position in the intelligent process automation market. For instance, in 2016, Accenture partnered with Tricentis to integrate the Tricentis Tosca Testsuite capabilities with the application testing services of Accenture. In 2016, Accenture also partnered with Splunk to use core technology indexes and searches of Splunk for analyzing machine data to provide insights for efficient business operations.

Related Reports:

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

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