Cognitive Process Automation Market size was valued at $3.89 billion in 2019, and it is estimated to grow at a CAGR of 11.83% during 2020-2025. The growth is mainly attributed to the increasing adoption of automation technologies in industries such as BFSI, healthcare, IT and Telecom and other industries is set to drive the market growth. Adoption of this technology in industries to enhance the conventional performance of their processes using knowledge-based workflows propel the market growth. 

Key Takeaways

North America dominated the Cognitive Process Automation market in term of revenue in 2019 owing to the early adoption of advanced technologies and presence of major number of players.
Integration of advanced technologies such as artificial intelligence, natural language processing, machine learning with cognitive capabilities set to drive the market growth.  
Increasing adoption of cognitive process automation in healthcare sector for proper maintenance of medical records is set to drive the market growth.
High initial investment for the adoption of the process automation technologies hampers the growth of cognitive process automation market.

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Geography- Segment Analysis

North America dominated the Cognitive Process Automation market in 2019 with a market share of 36.89%, followed by Europe and APAC owing to the early adoption of advanced technologies such as artificial intelligence, automation technologies and others. Additionally, the presence of high number of players, and high adoption rate of cognitive process automation in this region set to drive the market. Additionally, high investments in adoption of cognitive process automation and development of advanced version by various players is set to drive the market in this region.

Drivers –Cognitive Process Automation Market

Adoption of automation technologies in various industries such as BFSI, Telecom and IT Services and other industries
Rapid advancements in technology

Market Landscape

Technology launches, Acquisitions, and R&D activities are key strategies adopted by players in the Cognitive Process Automation market. Cognitive Process Automation top 10 companies include Arago, Automation Anywhere, Blue Prism, Celation Ltd, IBM, IPSoft, Kofax, Kryon Systems, UiPath and others.

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