Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The global intelligent process automation market is anticipated to observe significant growth over the next decade, owing to several factors such as the high demand for instant communication across various sectors. The growth of telecommunication networks at a rapid pace over the last two decades and the introduction of 4G LTE networks have helped the users to communicate faster than before. The growth in the number of users on social media platforms such as WhatsApp that is offering voice messaging to its users, where communication is made by a single tap of a button is anticipated to drive the demand for PTT technology among the users. Moreover, the efficiency at workplaces is estimated to improve, owing to communication using PTT technology such as group communication between colleagues at the workplace happens faster and is flexible. All these factors are estimated to drive the growth of the market over the forecast period.
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The global intelligent process automation market is anticipated to grow at a notable CAGR Of 13.57% over the forecast period (2018-2027), owing to various factors such as the need for a communication system that is able to bring in productivity efficiency as well as maximize profitability and at the same time reducing the number of hours wasted. The growing cellular phone network and the increase in the user base of cellular phones are providing plenty of opportunities for driving the demand for intelligent process automation technology for the users and businesses who can offer its applications to a substantial user base. The growth in the use of accessories such as headphones, microphones, speakers for PTT is also anticipated to aid the growth of the market over the forecast period.
However, some of the factors that are estimated to limit the growth prospects of the market are the inherent presence of latency and communication gap while engaging in the conversation using PTT technology, as there are delays faced between the time a person speaks and the time the other response during an on-going conversation using devices such as walkie-talkie. Further, the costs of the network and the pricing involved in making the technology available for users are very high. All these factors are anticipated to limit the growth of the market over the forecast period.
The global intelligent process automation market comprises our segments which are segmented by network type, component, technology, and end-user. The intelligent process automation over cellular forming part of network type segment is predicted to observe notable growth, owing to the increasing number of mobile phone users and rapid advancements in technologies taking place that has led to the introduction of 5G network, development of a strong ICT infrastructure and the arrival of Wi-Fi 6 technology. All these factors are predicted to drive the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global intelligent process automation market which includes company profiling of key companies such as IBM Corporation, Accenture, Tata Consultancy Services Limited, Capgemini SE, Cognizant, Microsoft, Genpact, HCL Technologies, Wipro Limited, and Tech Mahindra Limited. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global intelligent process automation market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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