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Intelligent Automation Market Segmented By Enterprise Size such as Large Enterprise, Small and Medium Enterprise with industry such as Automotive, Electrical and Electronics, Pharmaceutical, Retail and e-commerce, Manufacturing, BFSI, Others
With technological advancement, IT technology developers are making efforts to develop software that can ease the physical work life. One such advancement in technology is intelligent automation. The intelligent automation is a combination of automation and artificial intelligence. This new technology has revolutionized the way data is handled and processed.
The intelligent automation system determines and synthesizes a massive amount of information, automates the business and operational workflows and adapts it. The intelligent automation collects, analyzes and makes necessary decisions to guide the devices and software.
The intelligent automation is greatly driving the future of robots since it empowers them with intelligence and machine learning technology through which they learn and operate accordingly. A large number of business enterprises are working towards the digital transformation of their businesses in order to meet the demand, increase efficiency and deploy new business models. These factors are further expected to drive the growth of the intelligent automation market.
Vendors in the market are focusing on developing intelligent automation software and services that are unified, open and dynamic. A large number of organizations are inclining towards the adoption of bots to automate their workflow. Thus, adoption of bots is one of the key trends in the intelligent automation market. High usage of technologies such as automation, AI, and analytics is another key trend of business organizations in the intelligent automation market.
The intelligent automation allows users to reduce the labor costs of their business operations and helps enterprises to determine and rectify the skills gap. The intelligent automation also allows users to process a massive amount of complex data and increase the speed and accuracy of human capabilities. These factors are expected to drive the growth of the intelligent automation market over the forecast period.
A major challenge while implementing intelligent automation is lack of skilled labor. It requires extensive training of employees to make them understand the technology and adapt it. Also, it is difficult to integrate the intelligent automation systems in existing infrastructure. These factors are expected to hinder the growth of the intelligent automation market.
The intelligent automation market can be segmented on the basis of enterprise size, component, and industry. The adoption of intelligent automation is increasing by large enterprise since it helps them to automate operations that have been predefined and structured. The manufacturing industry is widely adopting the concept of building machines where the manufacturers are leveraging the technological capability of intelligent automation. Thus, industries such as manufacturing and automotive are widely adopting the concept of intelligent automation.
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Examples of som of the key players operating in the Intelligent Automation market are Capgemini SE, CGI Group Inc., Ernst & Young LLP, Cognizant Corporation, UiPath, IBM Corporation, Accenture, Cisco Systems, Inc., Crowd Computing Systems, Inc., and Avanade.
On the basis of geography, the intelligent automation market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. North America is expected to be a large regional market for intelligent automation as a majority of the intelligent automation vendors such as CGI Group Inc., Ernst & Young LLP, and Cognizant Corporation are based in North America.
The automation and intelligence market in developing regions, such as APEJ, Latin America, and parts of Africa, is characterized by the emergence and growing popularity of the software that help users drive innovation including intelligent automation. Rising consumer spending and evolving consumer lifestyle in countries in the above-mentioned regions is likely to increase the scope of penetration of intelligent automationt in these regions in the near future.
Global Intelligent Automation Market Segments
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.