31-Jul-2020 | Zion Market Research
As per Zion Market Research, the global robotic process automation market size was capitalized at USD 1.3 billion in 2019 and is likely to witness a growth of over 34% CAGR during the forecast period 2019 to 2025. The augmenting demand for BPA (business process automation) through the utilization of AI (artificial intelligence) and software robots is expected to be the major growth driver. Some of these technologies are now diminishing as businesses globally are changing into a dynamic digital environment. Nevertheless, the robotic process automation is projected to evolve and soar during the estimated period. The modern ventures need robotic process automation for quicker execution, implementation, and scaling. The technological developments have prompted businesses to prevail over new challenges targeted to cope with altering consumer requirements and demand.
Some of the key players in the market are Blue Prism Group Plc, Automation Anywhere Inc., Jacada Inc., Be Informed B.V., UiPath, OpenSpan, Celaton Ltd., PegasystemsInc, arago GmbH, Redwood Software, Kofax, EnableSoft, Softomotive, Kryon Systems, WorkFusion, and THOUGHTONOMY.
Increased Execution Of Robotic Process Automation In Businesses To Boost The Global Market
The robotic process automation alleviates human workers from their ordinary and repetitive everyday tasks by performing workflow much faster and consequently more efficient. The technology also enhances and scales up data security, businesses, and efficiency by interpreting and adapting the current application for processing a transaction, manipulating data, triggering responses, and connecting with other digital systems. The robotic process automation technologies can decrease the impact of the price by computerizing the processes that were done physically. In addition, the robotic process automation ability to discover innumerable skills without human intervention while constantly conducting recommended functions and scaling up or down to fulfill the demand is likely to surge the market growth.
The global robotic process automation market is bifurcated on the basis of type, service, organization, deployment, application, and regional analysis. Based on the type, the market is divided into service and software. Based on the service, the market is divided into consulting, training, and implementation. Based on the organization, the market is divided into SMEs and large enterprises. Based on the deployment, the market is divided into cloud and on-premise. Based on the application, the market is divided into manufacturing, BFSI, pharmaceutical & healthcare, telecom & IT, retail, and others.
The North America Region Expected To Dominate The Global Robotic Process Automation Market
Based on geographical analysis, the global robotic process automation market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region ruled the robotic process automation market in 2019 and it is likely to maintain its dominance during the estimated period. This can be owing to the augmented penetration of automation and process management solutions in the region. In addition, a robust inclination of SMEs for implementing robotic process automation within their business functions like human resource-related processes, accounting/finance, and procurement has contributed considerably toward the market growth.
Browse the full “Robotic Process Automation Market: by Component (Software and Service) by End Use Industry (Retail, Transportation, BFSI, Healthcare, Manufacturing, IT & Telecom, Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025..” Report at https://www.zionmarketresearch.com/report/robotic-process-automation-industry
The global robotic process automation market is segmented as follows:
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