(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Intelligent Process Automation (IPA) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Intelligent Process Automation (IPA) Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Increasing deployment of robots across key industries globally is projected to fuel market growth over the coming years. This is attributed to high accuracy levels of the robot which in turn results in mass production and quality products. Further, industrial robots are increasingly used to perform extremely laborious and monotonous tasks on the assembly lines.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Automation helps in increasing the efficiency of the manufacturing process and reduces the time required for production lines. As a result, industrial robots are anticipated to generate higher profitability levels for the logistics industries.
The deployment of artificial intelligence technologies like machine learning, automation and computer vision in robots is estimated to augment the growth of the market. These advanced automated systems can understand the sensory inputs and detect the signboards. This, in turn, has resulted in minimizing the human efforts and raised efficiency.
Further, the growth of machine vision technologies along with automation in auto industries is anticipated to pave the way for automated robots during the forecast period. This, in turn, is anticipated to increase the flexibility of production which will further drive the market growth over the forthcoming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Additionally, rapid research and development in the field of automation and robotic technology has further impelled amplified growth in the market
Leading Companies:
IBM, Accenture, TCS, Capgemini, Microsoft, Cognizant, Genpact, HCL Technologies, Wipro, Tech Mahindra, and Others.
Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
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About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products' demand, growth, and opportunities for new and existing players.
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