IDC and AuraQuantic collaborate to report on the expansion prospects of the IPA and No-Code Markets
IDC forecasts an expansion of the Intelligent Process Automation (IPA) market, with a Compound Annual Growth Rate (CAGR) of 21.7% during the period 2023-2026, representing an increase of 16.7% compared to 2022. In addition, the analyst firm forecasts that, within the generalized context of application modernization, one of the most relevant trends is that “the use of low-code and no-code applications will increase fourfold by 2025”.
These are some of the key findings from the report ‘Intelligent Process Automation as a Driver for Business Agility and Value Generation,’ prepared by IDC in collaboration with AuraQuantic. This document, guided by the insights of José A. Cano, Director of Analysis and Consulting at IDC Spain, explores significant aspects of Intelligent Process Automation in organizations.
Despite IDC’s growth forecasts for the IPA market, Cano points out that only “40% of companies in Spain currently admit to implementing a process automation strategy”. This figure contrasts with “a prevalent business trend wherein companies embark on building a process automation strategy after implementing one or more use cases”, he adds.
Barriers identified by IDC that hinder the adoption of enterprise-wide IPA solutions include the lack of a process inventory to determine which processes are most critical in terms of maximizing ROI, challenges related to data quality, employee resistance to change, as well as the necessary investment in time, human and technology resources.
According to IDC, it is crucial to address these challenges through clear communication about the benefits of automation. These include improving decision making by providing real-time data analytics and driving organizational agility to enable rapid responses to changes in the business environment. In addition, the analyst firm recommends implementing a comprehensive process automation strategy to maximize benefits and effectively address identified challenges.
Additionally, the report outlines several key considerations for organizations when selecting a process automation technology provider. According to Cano, this strategic decision can significantly influence a company’s efficiency and performance. Important criteria include the vendor’s experience and reputation, expertise in the business area, and extensive consulting capabilities.
Finally, IDC examines the return on investment for enterprises investing in process automation solutions in the current technology landscape. The report highlights that “the reuse of components and process automation contribute to the reduction of effort and time required for application development, achieving cost savings of more than 20%” Additionally, “shortening the duration of development projects or managing internal initiatives more quickly and simply can result in cost savings of more than 35%”. These insights from IDC underscore the positive impact of investing in process automation, as demonstrated by AuraQuantic.
According to Cano, The AuraQuantic platform stands out for its “integration” possibilities, as well as for its “agility, flexibility and adaptability to any change, ease of use, governance and security of the data used by the solution, scalability (…) and the pricing model”.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community make fact-based technology decisions and achieve their key business objectives.
