Press release
Cognitive Process Automation Market: Unfolding the Future of Automation with Market Growth and Key Trends
What Is The Projected Market Size Of The Global Cognitive Process Automation Market And Its Growth Rate?
• The cognitive process automation market size was $8.01 billion in 2024, growing into a $9 billion market in 2025 at a compound annual growth rate (CAGR) of 12.4%.
• Propelled by digital transformation, AI and machine learning advancements, business process optimization, and the need for cost reduction and efficiency improvement, the market is set for massive growth.
• The market is anticipated to continue its upward trajectory, reaching $14.91 billion in 2029 at a CAGR of 13.4%.
• The projected growth during this period is attributed to education and awareness on automation benefits, vendor competition and innovation, workforce transformation, and advancements in cybersecurity and cloud computing.
What Is Driving The Growth In The Cognitive Process Automation Market?
The surge in the use of automation technology is driving the cognitive process automation market forward. Automation technology refers to the combination of systems and tools that operate autonomously. The technology offers enterprises increased productivity and cost reductions, bolstering market growth. For instance, according to the International Federation of Robotics, the number of industrial robots installations in Europe in 2022 stood at 72,000, an increase of 6% from 2021. As such, the proliferating use of automation technology is significantly propelling the cognitive process automation market growth.
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Who Are the Key Players Driving Cognitive Process Automation Market Growth?
• Blue Prism Group PLC
• International Business Machines Corporation
• Kofax Inc.
• UiPath Inc.
• Automation Anywhere Inc.
• Celation Ltd.
• IPsoft Incorporated
• Kryon Systems Ltd.
• Pegasystems Inc.
• WorkFusion Inc.
• Verint Systems Inc.
• Redwood Software Inc.
• Appian Corporation
• Dynatrace LLC
• Datamatics Global Services Limited
• SaaS Labs Inc.
• ABBYY Software House
• FPT Software Company Limited
• EdgeVerve Systems Limited
• NTT Advanced Technology Corporation
What Are The Key Trends In The Cognitive Process Automation Market?
Key trends in the market include:
• Hyperautomation approach
• AI-powered automation
• Process mining integration
• Contextual awareness
• Intelligent document processing
What Are The Segments Of The Global Cognitive Process Automation Market?
The Cognitive Process Automation Market is segmented -
1) By Type: Robotic Process Automation, Intelligent Automation
2) By Services: Finance, HR, Procurement, IT Operations
3) By Application: Natural Language, Pattern Identification, Locating Knowledge, Machine Learning, Endless Capacity, Speech-To-Text, Biometrics, Handwriting Recognition, Other Applications
4) By Industry Vertical: BFSI, Telecom, Information Technology, Logistics, Manufacturing, Healthcare, Other Industry Verticals
Which Region Leads The Cognitive Process Automation Market?
North America was the largest region in the cognitive process automation market in 2024. However, all regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa, are seeing significant market activities and growth.
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What Is Covered In The Cognitive Process Automation Market Global Market Report?
- Market Size Analysis: Analyze the Cognitive Process Automation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cognitive Process Automation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cognitive Process Automation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cognitive Process Automation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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