Global Cognitive Automation Market & Trends Analysis Report by Application (Robotic Process Automation, and Intelligent Automation), and by End User (BFSI, Pharma and Healthcare, Retail & Consumer Goods, Information, Technology and Telecom, Communication, Media and Education, Manufacturing, Logistics, Energy and Utilities, and Others) Forecast Period (2022-2028) The global cognitive automation market is anticipated to grow at a CAGR of 11.2% during the forecast period. Cognitive automation refers to a variety of approaches to combine artificial intelligence (AI) with process automation technologies in order to improve business outputs. The rising complexity of business requirements calls for automating as many processes as possible to generate error-free and data-backed solutions is expected to propel the global cognitive automation market in the future. The growing e-commerce industry has one of the highest usages of cognitive RPA owing to the immense data available on their websites. However, the shortage of skilled resources and lack of required support from businesses is expected to pose a major challenge to global market growth. The global cognitive automation market is segmented based on the application, and end user. Based on application the market is sub-segmented into robotic process automation and intelligent automation. Based on end user the market is bifurcated into BFSI, pharma and healthcare, retail & consumer goods, information, technology and telecom, communication, media and education, manufacturing, logistics, energy and utilities, and others. Among the end user, the BFSI segment is expected to grow at a considerable CAGR over the forecast period. The increasing application of cognitive automation among banking sectors due to the rising use of digital banking services such as cryptocurrency, and mobile payments, is expected to drive the segment growth. Moreover, cognitive automation provides customers with the ability to automatically process payments, deposits, withdrawals, and other banking transactions without the need for manual intervention, which in turn boosts the BFSI segment growth. Geographically, the global cognitive automation market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. The European region is expected to exhibit substantial growth in the market. The growth is augmented owing to the adoption of advanced technology in the European region; along with the heavy funding received from private institutes for R&D work on cognitive automation processes. For instance, The EU’s 2018-2020 Work Programs include funding for the digitization of industry through robotics, new applications, and core technologies such as AI and cognition, cognitive mechatronics, socially cooperative human-robot interaction, and model-based design and configuration tools, and has a total budget of $173 million, according to the International Federation of Robotics (IFR) reported. The major companies serving the global cognitive automation market are Automation Anywhere Inc., Blue Prism, EdgeVerve Systems Ltd., and FPT Software, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, partnerships, funding, and new product launches to stay competitive in the market. For instance, in December 2021, NICE announced new AI capabilities in its NICE RPA, version 7.6, which will assist the organizations optimizing the benefits of robotic process automation (RPA) for their businesses. The latest version includes new capabilities such as document digitization, a complimentary resource center with ready-made low/no-code resources for sharing, and ROI-based recommendation of ideal processes to automate. Research Methodology The market study of the global cognitive automation is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports. Secondary Sources Include • Financial reports of companies involved in the market. • Whitepapers, research papers, and news blogs. • Company websites and their product catalog. The report provides an in-depth analysis of market size and the intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models. Market Segmentation 1. Global Cognitive Automation Market Research and Analysis by Application. 2. Global Cognitive Automation Market Research and Analysis by End User. The Report Covers • Comprehensive research methodology of the cognitive automation market. • This report also includes a detailed and extensive market overview with key analyst insights. • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. • Analysis of regional regulations and other government policies impacting the global cognitive automation market. • Insights about market determinants that are stimulating the cognitive automation market. • Detailed and extensive market segments with the regional distribution of forecasted revenues. • Extensive profiles and recent developments of market players.