The North America Cognitive Process Automation Market would witness market growth of 24.3% CAGR during the forecast period (2023-2030).
Cognitive process automation is gaining traction for automating processes such as document analysis, data entry, decision-making, and customer support enables organizations to complete tasks faster and with fewer errors. This automates cognitive functions previously handled by humans, resulting in higher productivity and efficiency. Additionally, it can aid in maximizing resource allocation and lessen the need for additional labor in particular sectors, accelerating market growth.
Numerous technologies' continual improvement and integration into cognitive process automation (CPA) are driving this advancement. The Internet of Things (IoT) and CPA can be combined to develop robust and intelligent automation solutions. Integrating IoT data with CPA systems can make real-time insights and sensor-based automation possible. For instance, industrial predictive maintenance or smart home automation. For example, the technology company IBM in the United States applies IoT and CPA in numerous sectors. IBM uses CPA methods for predictive maintenance in manufacturing facilities and incorporates IoT sensors with its Watson IoT platform.
The effectiveness of the entire value chain and the business's flexibility are both positively impacted by cognitive process automation. Additionally, it offers improved operational scalability, error rates, and a lower response time. Furthermore, it raises the standard of business processes. As organizations embrace cognitive automation by positioning it at the center of their business and digital transformation strategies, the opportunity for adopting advanced intelligent tools increases.
As per International Trade Administration, the largest solutions-based automation exhibition in North America, Automate, includes robotics, image & vision, motion control, industrial artificial intelligence, and associated automation technology. Further, the Association for Advancing Automation (A3) organizes the trade show and conference, which takes place in Detroit, MI, in May, 2023. To increase production efficiency, create more dynamic supply chains, and manage labor shortages, among other advantages, manufacturers are turning more and more to automation and robotics equipment. The rising emphasis on automation and robotics is estimated to contribute to the market in North America.
The US market dominated the North America Cognitive Process Automation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.7 billion by 2030. The Canada market is poised to grow at a CAGR of 27.1% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 26% during (2023 - 2030).
Based on Application, the market is segmented into Machine Learning, Pattern Identification, Biometrics, Natural Language Processing, and Optical Character Recognition & Others. Based on Vertical, the market is segmented into BFSI, Manufacturing, IT & Telecommunication, Retail & E-commerce, Transportation & Logistics, Media & Entertainment, Healthcare & Life Sciences, Energy & Utilities, and Others. Based on Services, the market is segmented into Finance, Procurement, HR, and IT Operations. Based on Type, the market is segmented into Intelligent Process Automation, and Robotic Process Automation. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Cognitive Process Automation Market is Projected to reach USD 26.9 Billion by 2030, at a CAGR of 24.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Altair Engineering, Inc. (IMG COMPANIES, LLC.), Alteryx, Inc., Hitachi Vantara LLC (Hitachi Ltd.), IBM Corporation, Oracle Corporation, SAS Institute, Inc., TIBCO (The Information Bus Company) Software. Inc., Teradata Corporation, Datameer, Inc., DataRobot, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Machine Learning
- Pattern Identification
- Biometrics
- Natural Language Processing
- Optical Character Recognition & Others
By Vertical
- BFSI
- Manufacturing
- IT & Telecommunication
- Retail & E-commerce
- Transportation & Logistics
- Media & Entertainment
- Healthcare & Life Sciences
- Energy & Utilities
- Others
By Services
- Finance
- Procurement
- HR
- IT Operations
By Type
- Intelligent Process Automation
- Robotic Process Automation
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Altair Engineering, Inc. (IMG COMPANIES, LLC.)
- Alteryx, Inc.
- Hitachi Vantara LLC (Hitachi Ltd.)
- IBM Corporation
- Oracle Corporation
- SAS Institute, Inc.
- TIBCO (The Information Bus Company) Software. Inc.
- Teradata Corporation
- Datameer, Inc.
- DataRobot, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Cognitive Process Automation Market, by Application
1.4.2 North America Cognitive Process Automation Market, by Vertical
1.4.3 North America Cognitive Process Automation Market, by Services
1.4.4 North America Cognitive Process Automation Market, by Type
1.4.5 North America Cognitive Process Automation Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlight
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2022
4.2 Porter Five Forces Analysis
Chapter 5. North America Cognitive Process Automation Market by Application
5.1 North America Machine Learning Market by Country
5.2 North America Pattern Identification Market by Country
5.3 North America Biometrics Market by Country
5.4 North America Natural Language Processing Market by Country
5.5 North America Optical Character Recognition & Others Market by Country
Chapter 6. North America Cognitive Process Automation Market by Vertical
6.1 North America BFSI Market by Country
6.2 North America Manufacturing Market by Country
6.3 North America IT & Telecommunication Market by Country
6.4 North America Retail & E-commerce Market by Country
6.5 North America Transportation & Logistics Market by Country
6.6 North America Media & Entertainment Market by Country
6.7 North America Healthcare & Life Sciences Market by Country
6.8 North America Energy & Utilities Market by Country
6.9 North America Others Market by Country
Chapter 7. North America Cognitive Process Automation Market by Services
7.1 North America Finance Market by Country
7.2 North America Procurement Market by Country
7.3 North America HR Market by Country
7.4 North America IT Operations Market by Country
Chapter 8. North America Cognitive Process Automation Market by Type
8.1 North America Intelligent Process Automation Market by Country
8.2 North America Robotic Process Automation Market by Country
Chapter 9. North America Cognitive Process Automation Market by Country
9.1 US Cognitive Process Automation Market
9.1.1 US Cognitive Process Automation Market by Application
9.1.2 US Cognitive Process Automation Market by Vertical
9.1.3 US Cognitive Process Automation Market by Services
9.1.4 US Cognitive Process Automation Market by Type
9.2 Canada Cognitive Process Automation Market
9.2.1 Canada Cognitive Process Automation Market by Application
9.2.2 Canada Cognitive Process Automation Market by Vertical
9.2.3 Canada Cognitive Process Automation Market by Services
9.2.4 Canada Cognitive Process Automation Market by Type
9.3 Mexico Cognitive Process Automation Market
9.3.1 Mexico Cognitive Process Automation Market by Application
9.3.2 Mexico Cognitive Process Automation Market by Vertical
9.3.3 Mexico Cognitive Process Automation Market by Services
9.3.4 Mexico Cognitive Process Automation Market by Type
9.4 Rest of North America Cognitive Process Automation Market
9.4.1 Rest of North America Cognitive Process Automation Market by Application
9.4.2 Rest of North America Cognitive Process Automation Market by Vertical
9.4.3 Rest of North America Cognitive Process Automation Market by Services
9.4.4 Rest of North America Cognitive Process Automation Market by Type
Chapter 10. Company Profiles
10.1 Altair Engineering, Inc. (IMG Companies, LLC)
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 SWOT Analysis
10.2 Alteryx, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.6 SWOT Analysis
10.3 Hitachi Vantara LLC (Hitachi Ltd.)
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 SWOT Analysis
10.4 IBM Corporation
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional & Segmental Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments:
10.4.5.1 Partnerships, Collaborations, and Agreements:
10.4.5.2 Product Launches and Product Expansions:
10.4.5.3 Acquisition and Mergers:
10.4.6 SWOT Analysis
10.5 Oracle Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.5.5.2 Product Launches and Product Expansions:
10.5.6 SWOT Analysis
10.6 SAS Institute, Inc.
10.6.1 Company Overview
10.6.2 SWOT Analysis
10.7 Tibco Software, Inc. (Vista Equity Partners)
10.7.1 Company Overview
10.7.2 SWOT Analysis
10.8 Teradata Corporation
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Regional Analysis
10.8.4 Research & Development Expense
10.8.5 SWOT Analysis
10.9 Datameer, Inc.
10.9.1 Company Overview
10.9.2 SWOT Analysis
10.10. DataRobot, Inc.
10.10.1 Company Overview
10.10.2 SWOT Analysis
Chapter 11. Winning Imperatives for the cognitive process automation market – North America
TABLE 1 North America Cognitive Process Automation Market, 2019 - 2022, USD Million
TABLE 2 North America Cognitive Process Automation Market, 2023 - 2030, USD Million
TABLE 3 North America Cognitive Process Automation Market by Application, 2019 - 2022, USD Million
TABLE 4 North America Cognitive Process Automation Market by Application, 2023 - 2030, USD Million
TABLE 5 North America Machine Learning Market by Country, 2019 - 2022, USD Million
TABLE 6 North America Machine Learning Market by Country, 2023 - 2030, USD Million
TABLE 7 North America Pattern Identification Market by Country, 2019 - 2022, USD Million
TABLE 8 North America Pattern Identification Market by Country, 2023 - 2030, USD Million
TABLE 9 North America Biometrics Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Biometrics Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Natural Language Processing Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Natural Language Processing Market by Country, 2023 - 2030, USD Million
TABLE 13 North America Optical Character Recognition & Others Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Optical Character Recognition & Others Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Cognitive Process Automation Market by Vertical, 2019 - 2022, USD Million
TABLE 16 North America Cognitive Process Automation Market by Vertical, 2023 - 2030, USD Million
TABLE 17 North America BFSI Market by Country, 2019 - 2022, USD Million
TABLE 18 North America BFSI Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Manufacturing Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Manufacturing Market by Country, 2023 - 2030, USD Million
TABLE 21 North America IT & Telecommunication Market by Country, 2019 - 2022, USD Million
TABLE 22 North America IT & Telecommunication Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Retail & E-commerce Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Retail & E-commerce Market by Country, 2023 - 2030, USD Million
TABLE 25 North America Transportation & Logistics Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Transportation & Logistics Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Media & Entertainment Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Media & Entertainment Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Healthcare & Life Sciences Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Healthcare & Life Sciences Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Energy & Utilities Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Energy & Utilities Market by Country, 2023 - 2030, USD Million
TABLE 33 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Cognitive Process Automation Market by Services, 2019 - 2022, USD Million
TABLE 36 North America Cognitive Process Automation Market by Services, 2023 - 2030, USD Million
TABLE 37 North America Finance Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Finance Market by Country, 2023 - 2030, USD Million
TABLE 39 North America Procurement Market by Country, 2019 - 2022, USD Million
TABLE 40 North America Procurement Market by Country, 2023 - 2030, USD Million
TABLE 41 North America HR Market by Country, 2019 - 2022, USD Million
TABLE 42 North America HR Market by Country, 2023 - 2030, USD Million
TABLE 43 North America IT Operations Market by Country, 2019 - 2022, USD Million
TABLE 44 North America IT Operations Market by Country, 2023 - 2030, USD Million
TABLE 45 North America Cognitive Process Automation Market by Type, 2019 - 2022, USD Million
TABLE 46 North America Cognitive Process Automation Market by Type, 2023 - 2030, USD Million
TABLE 47 North America Intelligent Process Automation Market by Country, 2019 - 2022, USD Million
TABLE 48 North America Intelligent Process Automation Market by Country, 2023 - 2030, USD Million
TABLE 49 North America Robotic Process Automation Market by Country, 2019 - 2022, USD Million
TABLE 50 North America Robotic Process Automation Market by Country, 2023 - 2030, USD Million
TABLE 51 North America Cognitive Process Automation Market by Country, 2019 - 2022, USD Million
TABLE 52 North America Cognitive Process Automation Market by Country, 2023 - 2030, USD Million
TABLE 53 US Cognitive Process Automation Market, 2019 - 2022, USD Million
TABLE 54 US Cognitive Process Automation Market, 2023 - 2030, USD Million
TABLE 55 US Cognitive Process Automation Market by Application, 2019 - 2022, USD Million
TABLE 56 US Cognitive Process Automation Market by Application, 2023 - 2030, USD Million
TABLE 57 US Cognitive Process Automation Market by Vertical, 2019 - 2022, USD Million
TABLE 58 US Cognitive Process Automation Market by Vertical, 2023 - 2030, USD Million
TABLE 59 US Cognitive Process Automation Market by Services, 2019 - 2022, USD Million
TABLE 60 US Cognitive Process Automation Market by Services, 2023 - 2030, USD Million
TABLE 61 US Cognitive Process Automation Market by Type, 2019 - 2022, USD Million
TABLE 62 US Cognitive Process Automation Market by Type, 2023 - 2030, USD Million
TABLE 63 Canada Cognitive Process Automation Market, 2019 - 2022, USD Million
TABLE 64 Canada Cognitive Process Automation Market, 2023 - 2030, USD Million
TABLE 65 Canada Cognitive Process Automation Market by Application, 2019 - 2022, USD Million
TABLE 66 Canada Cognitive Process Automation Market by Application, 2023 - 2030, USD Million
TABLE 67 Canada Cognitive Process Automation Market by Vertical, 2019 - 2022, USD Million
TABLE 68 Canada Cognitive Process Automation Market by Vertical, 2023 - 2030, USD Million
TABLE 69 Canada Cognitive Process Automation Market by Services, 2019 - 2022, USD Million
TABLE 70 Canada Cognitive Process Automation Market by Services, 2023 - 2030, USD Million
TABLE 71 Canada Cognitive Process Automation Market by Type, 2019 - 2022, USD Million
TABLE 72 Canada Cognitive Process Automation Market by Type, 2023 - 2030, USD Million
TABLE 73 Mexico Cognitive Process Automation Market, 2019 - 2022, USD Million
TABLE 74 Mexico Cognitive Process Automation Market, 2023 - 2030, USD Million
TABLE 75 Mexico Cognitive Process Automation Market by Application, 2019 - 2022, USD Million
TABLE 76 Mexico Cognitive Process Automation Market by Application, 2023 - 2030, USD Million
TABLE 77 Mexico Cognitive Process Automation Market by Vertical, 2019 - 2022, USD Million
TABLE 78 Mexico Cognitive Process Automation Market by Vertical, 2023 - 2030, USD Million
TABLE 79 Mexico Cognitive Process Automation Market by Services, 2019 - 2022, USD Million
TABLE 80 Mexico Cognitive Process Automation Market by Services, 2023 - 2030, USD Million
TABLE 81 Mexico Cognitive Process Automation Market by Type, 2019 - 2022, USD Million
TABLE 82 Mexico Cognitive Process Automation Market by Type, 2023 - 2030, USD Million
TABLE 83 Rest of North America Cognitive Process Automation Market, 2019 - 2022, USD Million
TABLE 84 Rest of North America Cognitive Process Automation Market, 2023 - 2030, USD Million
TABLE 85 Rest of North America Cognitive Process Automation Market by Application, 2019 - 2022, USD Million
TABLE 86 Rest of North America Cognitive Process Automation Market by Application, 2023 - 2030, USD Million
TABLE 87 Rest of North America Cognitive Process Automation Market by Vertical, 2019 - 2022, USD Million
TABLE 88 Rest of North America Cognitive Process Automation Market by Vertical, 2023 - 2030, USD Million
TABLE 89 Rest of North America Cognitive Process Automation Market by Services, 2019 - 2022, USD Million
TABLE 90 Rest of North America Cognitive Process Automation Market by Services, 2023 - 2030, USD Million
TABLE 91 Rest of North America Cognitive Process Automation Market by Type, 2019 - 2022, USD Million
TABLE 92 Rest of North America Cognitive Process Automation Market by Type, 2023 - 2030, USD Million
TABLE 93 Key Information – Altair Engineering, Inc.
TABLE 94 Key Information – Alteryx, Inc.
TABLE 95 Key Information – Hitachi Vantara LLC
TABLE 96 Key Information – IBM Corporation
TABLE 97 Key Information – Oracle Corporation
TABLE 98 Key Information – SAS Institute, Inc.
TABLE 99 Key Information – Tibco Software, Inc.
TABLE 100 Key Information – Teradata Corporation
TABLE 101 Key Information – Datameer, Inc.
TABLE 102 Key Information – DataRobot, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Cognitive Process Automation Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Cognitive Process Automation Market
FIG 4 Market Share Analysis, 2022
FIG 5 Porter’s Five Forces Analysis – Cognitive Process Automation Market
FIG 6 North America Cognitive Process Automation Market share by Application, 2022
FIG 7 North America Cognitive Process Automation Market share by Application, 2030
FIG 8 North America Cognitive Process Automation Market by Application, 2019 - 2030, USD Million
FIG 9 North America Cognitive Process Automation Market share by Vertical, 2022
FIG 10 North America Cognitive Process Automation Market share by Vertical, 2030
FIG 11 North America Cognitive Process Automation Market by Vertical, 2019 - 2030, USD Million
FIG 12 North America Cognitive Process Automation Market share by Services, 2022
FIG 13 North America Cognitive Process Automation Market share by Services, 2030
FIG 14 North America Cognitive Process Automation Market by Services, 2019 - 2030, USD Million
FIG 15 North America Cognitive Process Automation Market share by Type, 2022
FIG 16 North America Cognitive Process Automation Market share by Type, 2030
FIG 17 North America Cognitive Process Automation Market by Type, 2019 - 2030, USD Million
FIG 18 North America Cognitive Process Automation Market share by Country, 2022
FIG 19 North America Cognitive Process Automation Market share by Country, 2030
FIG 20 North America Cognitive Process Automation Market by Country, 2019 - 2030, USD Million
FIG 21 SWOT Analysis: Altair Engineering, Inc.
FIG 22 SWOT Analysis: Alteryx, Inc.
FIG 23 SWOT Analysis: Hitachi Vantara LLC
FIG 24 Recent strategies and developments: IBM Corporation
FIG 25 SWOT Analysis: IBM Corporation
FIG 26 Recent strategies and developments: Oracle Corporation
FIG 27 SWOT Analysis: Oracle Corporation
FIG 28 SWOT Analysis: SAS Institute, Inc.
FIG 29 SWOT Analysis: TIBCO Software. Inc.
FIG 30 SWOT Analysis: Teradata Corporation
FIG 31 SWOT Analysis: Datameer, Inc.
FIG 32 SWOT Analysis: DataRobot, Inc.