The world is changing at a fast pace and technology is playing a crucial role in encouraging a forward momentum in this direction. A recent study conducted by MarketsandMarkets enterprise, a renowned name in the field of market research further cements this fact.

According to its study, the Intelligent Process Automation (IPA) market is expected to boom in the time to come. The firm says in its research that the IPA market will grow from USD 13.6 billion in 2022 to USD 25.9 billion in 2027 while growing at a staggering CAGR of 13.8% during the forecast period.

Manual execution of repetitive work leads to errors, affects productivity, throughput, quality, and impacts various other things that directly affect the pace of business growth. Automation powered with Artificial Intelligence helps organizations to automate their simple to complex tasks to improve efficiency and boost business outcomes.

Although the applications of automation are universal, irrespective of industries but BFSI and Operations & Supply Chain segment will contribute the biggest share in its growth. According to this study, the Asia Pacific region will record the highest CAGR for the IPA in the said period.