Robotic Process Automation (RPA) Industry is Accelerated Due to Growing Demand for Automation of Business Processes and The Need for Reduced Operational Costs.
The increasing demand for Business Process Automation using software robots and artificial intelligence is driving the market during the forecast period. At the same time, the increasing demand from the logistics industry, coupled with the rising adoption of the automation process in Business Process Outsourcing (BPO), is creating opportunities for the Robotic Process Automation Market. However, the lack of awareness of RPA is obstructing the growth of the market in the coming years.
This report on Robotic Process Automation Market Size provides insightful data on the developments in the industry with all market dynamics. This performance analysis included in the Robotic Process Automation market research report helps users to get a thorough understanding of change in the dynamics of the market. The detailed study of all the crucial aspects of the Robotic Process Automation market is included in the market report such as market share, production, regions, key players etc., with the help of several charts, tables, graphs, etc. to offer users with better presentation of the data.
Robotic process automation technology is a software used to handle high-volume of repetitive tasks with machine learning and artificial intelligence capabilities. RPA has improved and revolutionized the ways in which organizations cater to IT support, remote infrastructure, and administer businesses and back-office work.
Based on the type, the service segment dominated the global RPA market in 2018 and is expected to show similar trends during the forecast period. Continuous enhancements in training and advisory and consultancy services are driving the growth of the segment. Based on applications, the BFSI segment holds the large market share, owing to the automation of business tasks such as assembly and formulation, compliance regulations, and data entry. Further, the healthcare segment is also anticipated to hold a significant share owing to the use of software for reorganizing management processes.
Based on the organisation size, the large enterprise segment is anticipated to hold a significant share in the RPA market during the forecast period. The significant value addition, coupled with the ability to deliver seamless operation, is increasing the demand for the RPA market.
Global Robotic Process Automation (RPA) Market Segmentation Scope:
By Type:
· Service Software
By Process:
· Automated Solutions
· Decision Support
· Management Solutions
By Organization:
· SME
· Large
By Application:
· BFSi
· Retail
· Automotive
· IT& Telecommunication
· Others
North America dominated the market in 2018 and is expected to show similar trends during the forecast period. This is due to the rising penetration of process management and automation solutions across the region. The U.S. is leading the North American market with an increase in the number of virtual workforce industries. Further, the Asia-Pacific region is showing the fastest growth during the forecast period. Increasing automation that includes artificial intelligence and machine learning is fuelling the growth of the market in the region. China is leading the Asia-Pacific market with an increase in demand for BPA solutions in the BPO sectors in the region.
The key market players are Blue Prism, Open Span, Celaton, Open Connect Systems Incorporated, Verint Systems, Cognizant, Automation Anywhere, Exilant, Infosys Limited, Atos Corporation, and others. Companies involved in this market are concentrating on research and development, along with acquisitions & mergers and innovation in products, to strengthen their market share.
The “Robotic Process Automation Market Report 2020-2026” added by AllTheResearch is a combination of qualitative and quantitative analysis which contains current industry trends, revenue forecasts, statistics, market valuations which highlights the growth trends and competitive landscape as well as the key players (like Dell Inc., Nokia, IBM Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., etc.) in the Robotic Process Automation business. The market segmentation mentioned in this report mainly covers types, applications, & regions. Based on the extensive historical data a well-thought-out study on the estimated period for the good expansion of the Robotic Process Automation market globally is produced.
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