Cognitive Process Automation Market Report 2025

The cognitive process automation market size has grown rapidly in recent years. It will grow from $8.01 billion in 2024 to $9 billion in 2025 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to digital transformation initiatives, rise of artificial intelligence (AI) and machine learning (ml), increased data volume and complexity, business process optimization, cost reduction and efficiency improvement.

The cognitive process automation market size is expected to see rapid growth in the next few years. It will grow to $14.91 billion in 2029 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to education and awareness on automation benefits, vendor competition and innovation, workforce transformation and augmentation, focus on cybersecurity, cloud computing advancements. Major trends in the forecast period include hyperautomation approach, AI-powered automation, process mining integration, contextual awareness, intelligent document processing.

The growing adoption of automation technology is expected to enhance the growth of the cognitive process automation market in the future. Automation technology encompasses all procedures and tools that enable factories and systems to operate independently. It allows systems to function autonomously by utilizing programmed commands along with automatic feedback control to ensure that instructions are executed accurately. This technology is commonly employed across various industries to transform businesses and improve daily operations by boosting productivity and reducing costs, thereby facilitating market expansion. For instance, in June 2023, the International Federation of Robotics, a Germany-based non-profit organization dedicated to promoting and strengthening the robotics industry globally, reported that the number of industrial robot installations in Europe reached 72,000 units in 2022, marking a 6% increase from 2021. Consequently, the increased use of automation technology is driving the cognitive process automation market forward.

The cognitive process automation market is poised for growth, propelled by the escalating demand for cloud computing. Cloud computing, a technology facilitating the delivery of diverse computing services over the internet, is integral for organizations and individuals managing physical hardware and software infrastructure. Cognitive process automation leverages cloud computing to analyze and manage extensive data, enabling informed decision-making based on cognitive insights and efficient handling of complex tasks. Google's data, revealing a 56% increase in public cloud usage from 2021 to 2022, highlights the substantial impact of growing cloud computing demand on the cognitive process automation market.

Major companies in the cognitive process automation market are concentrating on developing innovative solutions like Intelligent Document Processing (IDP) to enhance data extraction, streamline workflows, and improve decision-making by automating the management of unstructured data. Intelligent Document Processing (IDP) involves utilizing advanced technologies, such as artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and optical character recognition (OCR), to automate the extraction, processing, and management of data from various document types. For example, in May 2024, Kanverse, a U.S.-based cognitive process automation company, announced the integration of its Intelligent Document Processing (IDP) suite with OpenAI's ChatGPT. This enhancement harnesses advanced Large Language Models (LLMs) to bolster data extraction and processing capabilities, enabling a more nuanced understanding and handling of unstructured data. The integration aims to establish "Zero-Touch" document workflows that automate everything from ingestion to validation and filing, thereby increasing efficiency and accuracy across business processes.

Major companies in the cognitive process automation market are prioritizing the development of innovative products and technologies to gain a competitive edge. One notable innovation is the KAPS framework, which is specifically designed to help organizations harness the power of Generative AI to enhance productivity, improve decision-making, and drive overall effectiveness across various domains. For example, in October 2023, Accion Labs, a U.S.-based technology company specializing in AI and automation solutions, launched the KAPS framework. This innovative framework provides personalized Generative AI solutions for enterprises, focusing on four key aspects: Knowledge, Analytics, Process, and Systems. The KAPS framework aims to automate routine business tasks and enhance decision-making capabilities, thereby driving productivity and improving overall effectiveness for organizations looking to leverage AI in their operations.

In August 2022, OpenText, a Canada-based enterprise information management company, acquired Micro Focus International plc for approximately $6 billion. This strategic acquisition aims to position OpenText as one of the largest players in the software and cloud markets, significantly enhancing its footprint in the information management sector, which is projected to reach $170 billion. The acquisition is set to be funded through existing cash, new debt, and OpenText's revolving credit facility. Furthermore, it is anticipated to be immediately accretive to OpenText's adjusted EBITDA, providing substantial growth opportunities. Micro Focus, a UK-based software company, specializes in enterprise software solutions and services, which will complement OpenText’s existing offerings and drive future innovation.

Major companies operating in the cognitive process automation market are 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, NICE Ltd., Altair Engineering Inc., Alteryx Inc., Hitachi Vantara LLC, Moogsoft Inc., New Relic Inc., Splunk Inc., BigPanda Inc., Wipro Limited, Infosys Limited, Cognizant Technology Solutions Corporation, Tata Consultancy Services Limited, HCL Technologies Limited, Capgemini SE, Accenture PLC, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited.

North America was the largest region in the cognitive process automation market in 2024. The regions covered in the cognitive process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive process automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cognitive process automation involves using machine learning technology to automate labor-intensive manual operations, performing tasks such as gathering and analyzing diagnostic data, administering medications, and recommending data-based treatment alternatives. This enhances patient and business outcomes.

The main types of cognitive process automation include robotic process automation (RPA) and intelligent automation. Robotic process automation (RPA) is a software technology that simplifies the creation, use, and management of software robots that mimic human interactions with digital devices and software. These robots can be applied across various services such as finance, HR, procurement, and IT operations. Applications of cognitive process automation include natural language processing, pattern identification, knowledge location, machine learning, speech-to-text, biometrics, handwriting recognition, and more. It finds applications in various industry verticals such as BFSI, telecom, information technology, logistics, manufacturing, healthcare, and others.

The cognitive process automation market research report is one of a series of new reports that provides cognitive process automation market statistics, including the cognitive process automation industry global market size, regional shares, competitors with a cognitive process automation market share, detailed cognitive process automation market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive process automation industry. This cognitive process automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cognitive process automation services market includes revenues earned by entities through IT service management, user management, monitoring, routing, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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