Market Highlights: —
The robotic process automation system aids in the alleviation of repetitive and mundane daily tasks for human workers, by processing the workflow faster and more efficiently. The technology also helps in improving and scaling up the businesses’ effectiveness and data security, by interpreting and adapting the application already existing for processing a certain transaction. Following this, the system then comes up with responses, modifies the data, and then communicates with other digital systems present within the organization. In addition, the RPA technology helps in the reduction of the costs by automating the processes which are generally done manually.
Furthermore, the ability of the technology to learn various skills without any human intervention and at the same time carrying out prescribed functions at a steady rate, in addition to scaling up or down to cater to any demand is exhibited to accelerate the market demand in the near future. The existing role the technology within organizations is evolving rapidly with time. The past couple of decades has witnessed a variety of waves of technology progression that have left a deep impact on the business growth substantially. At present, few of these technologies are declining in the face of various businesses across the globe transforming into a vibrant digital environment. With that said, RPA is poised to evolve and expand relentlessly in the coming years. This statement can be backed by the increasing demand by modern enterprises for RPA technology for faster execution, implementation, and scaling.
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Major Key Players
• Automation Anywhere (U.S.),
• Blue Prism (U.K.),
• Celaton Ltd (U.K.),
• Ipsoft (U.S.),
• Nice Systems Ltd. (Israel),
• Pegasystems (U.S.),
• Redwood Software (U.S.),
• Uipath (Romania),
• Verint (U.S.),
• Xerox Corporation (U.S.),
are profiled in Market Research Future analysis and are at the forefront of competition in the Robotic Process Automation market.
Market Research Future (MRFR) perceives a bright future for Robotic Process Automation Market as it is set to reach the valuation of USD 2,700 Mn by 2023. The market size is bound to expand at a lucrative CAGR of 29% during the forecast period (2017-2023).
March 2019 – Berry Appleman & Leiden LLP (BAL) has selected UiPath, an enterprise with the expertise in Robotic Process Automation (RPA), to expand its intelligent automation platform. BAL will be applying UiPath's RPA solution across various departments so that the entire business performance can be enhanced.
The market for robotic process automation is segmented on the basis of process, operation, type, and industry.
The various processes in the global robotic process automation market are automated solution, decision support & management solution and interaction solution and others.
The RPA market, based on the operation, is fragmented into the segments of spend analysis, e-sourcing, e-procurement, contract management and supplier management.
Depending on the type, the RPA market is segmented on the basis of tools, services and travel & logistics and others.
The various industries making extensive use of RPA include healthcare & pharmaceuticals, BFSI, IT & telecommunication, manufacturing & logistics, travel, retail, transportation and hospitality among others. The BFSI sector leverages RPA for improving the competence and speeding up the business processes. On account of the high degree of flexibility and scalability coupled with the increasing requirement for data processing and workflow management, the RPA technology is witnessing widespread deployment in BFSI, among all the industries.
Asia Pacific, Europe, North America, Middle East & Africa as well as Latin America are the top regions where the robotic process automation market has been studied in the report.
On the global front, North America is leading the market for robotic process automation acquiring the maximum market share. Considerable investments transpiring in the field of technologies development, the presence of ambitious market players offering cutting-edge technologies along with the growing adoption of RPA tools in the expanding sectors like Healthcare, BFSI, and IT & Telecommunication, Media & Entertainment, are few factors influencing the market growth in the region. Moreover, presence of well-established infrastructure provides lucrative impetus to the regional market growth, as it allows faster implementation of the latest technologies. The United States (U.S.) and Canada are the maximum market shareholders in the North America market, as a result of the increasing technological advancements combined with the rapid uptake of robotic process automation solutions in the countries. These growth trends are expected to continue, giving major support to the region in retaining its dominance in the global market.
Europe is the second-largest market in the global robotic process automation market, in the wake of growing demand for RPA technology across various sectors. The resurging economy also works wonders for the regional market growth to a large extent.
Lastly, the Asia Pacific region is projected to note a healthy growth, with the predictions that the region will be the fastest growing market in the global robotic process automation. Factors like the increasing urbanization and thriving healthcare and entertainment sector along with the rapid economic growth in the region will bode well with the market growth, with the consumers’ purchasing power increasing owing to the growing economy in the region.
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• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Supply Chain & Logistics Organizations
• Original Equipment Manufacturers
• Healthcare & Pharmaceutical Industry
LIST OF TABLES
TABLE 1 ROBOTIC PROCESS AUTOMATION MARKET, BY PROCESS
TABLE 2 ROBOTIC PROCESS AUTOMATION MARKET, BY OPERATIONS
TABLE 3 ROBOTIC PROCESS AUTOMATION MARKET, BY TYPE
TABLE 4 ROBOTIC PROCESS AUTOMATION MARKET, BY INDUSTRY
TABLE 5 ROBOTIC PROCESS AUTOMATION MARKET, BY REGION
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 ROBOTIC PROCESS AUTOMATION MARKET: BY PROCESS (%)
FIGURE 3 ROBOTIC PROCESS AUTOMATION MARKET: BY OPERATIONS (%)
FIGURE 4 ROBOTIC PROCESS AUTOMATION MARKET: BY TYPE (%)
FIGURE 5 ROBOTIC PROCESS AUTOMATION MARKET: BY INDUSTRY (%)
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