Cognitive automation market is anticipated to grow at a CAGR of 11.2% during the forecast period.The adoption of cognitive automation is based on factors such as the adoption of artificial intelligence (AI) by businesses to automate processes and integrate human-computer interaction (HCI). Most players in the market are developing cognitive services that are accessed by application developers, or end users who deploy solutions at their systems and servers. Use cases of cognitive automation were seen in financial institutions, retail and healthcare, and others. For instance, in December 2021, Brillio acquired Cedrus Digital. The acquisition will strengthen Brillio’s product and platform engineering, data analytics, cloud security, and digital infrastructure capabilities, by bringing Cedrus Digital expertise in cloud-native engineering, cloud security, cloud infrastructure ops, conversational AI, machine learning, cognitive automation, and intellectual property that will assist Brillio in improving its end-to-end digital transformation solutions across healthcare, financial services, and automotive industries.
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Among the application, the robotic process automation segment is projected to expand at a significant rate. Factors such as the rising need to optimize operations to gain improved productivity and generate maximum return, integration of the latest technologies, and changing business processes across enterprises are expected to boost segment growth. Additionally, the combination of cognitive RPA and various chatbot technologies has reduced human interventions and improved operational productivity among various end-user industries such as banking, pharma, and logistics, which in turn consequently fuleld the segment growth.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Cognitive Automation by Application
- Robotic Process Automation
- Intelligent Automation
Global Cognitive AutomationMarket by End User
- BFSI
- Pharmaceutical and Healthcare
- Retail and Consumer Goods
- IT and Telecommunication
- Manufacturing
- Logistics, Energy, and Utilities
- Others (Communication, Media, and Education)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Automation Anywhere Inc.
- Blue Prism
- EdgeVerve Systems Ltd.
- FPT Software.
- Kofax
- NICE Ltd.
- Nintex
- NTT Advanced Technology Corp.
- OnviSource
- Pegasystems Inc.
- Redwood International Business Group B.V
- UiPath
- Verint’s
- WorkFusion, Inc.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cognitive automationmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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