Exploring the Future: Intelligent Automation Market Analysis and 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.

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.

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.

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.

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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.