Press Resease

Cognitive Robotic Process Automation Market by End-Use Industry (Retail, Transportation, BFSI, Healthcare, Manufacturing, IT & Telecom, and Others), by Component (Hardware, Software, and Service), and by Product (Model-Based Robotics, Model-Free Robotics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Published Date: 11-Sep-2018 Category: Technology & Media Report Format : PDF Pages: 128 Report Code: ZMR-3322 Status : Published

Global cognitive robotic process automation market expected to reach USD 1,705.7 million globally by 2024, at a CAGR of around 42% between 2018 and 2024. Cognitive robotic process automation is a technology for robots that enables them to learn from their own experience and human teachings with the help of artificial intelligence technologies.

Description

The report covers forecast and analysis for the cognitive robot process automation market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the cognitive robotics process automation market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cognitive robotics process automation market on a global level.

This report offers a comprehensive analysis of the global cognitive robotics process automation market along with, market trends, drivers, and restraints of the cognitive robot process automation market. This report includes a detailed competitive scenario and the product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.

Global Cognitive Robotic Process Automation Market

The study provides a decisive view on the cognitive robotics process automation market by segmenting the market based on end-use industry, component, product, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2024. Based on end-use industry, the segmentation of the cognitive robot process automation market is retail, transportation, BFSI, healthcare, manufacturing, IT & telecom, and others. Based on the component, the segmentation of the cognitive robot process automation market is hardware, software, and service. Based on the product, the segmentation of the cognitive robot process automation market is model-based robotics and model-free robotics. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into countries such as the U.S., the UK, France, Germany, China, India, Japan, and Brazil.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global cognitive robotics process automation market such as Blue Prism, IPsoft Inc., NICE Systems Ltd., Automation Anywhere, Inc., Verint System Inc., UiPath, WorkFusion, Pegasystems Inc., IBM Corporation, and Arago, among others.

The report segments the global cognitive robotic process automation market as follows:

Cognitive Robotics Process Automation Market: End-Use Industry Segment Analysis

  • Retail
  • Transportation
  • BFSI
  • Healthcare
  • Manufacturing
  • IT & Telecom
  • Others

Cognitive Robotics Process Automation Market: Component Segment Analysis

  • Hardware
  • Software
  • Service

Cognitive Robotics Process Automation Market: Product Segment Analysis

  • Model-Based Robotics
  • Model-Free Robotics

Cognitive Robotics Process Automation Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Cognitive Robotics Process Automation Market, 2015 - 2024, (USD Million)
    • 2.2. Cognitive Robotics Process Automation Market: Market Snapshot
  •  
  • Chapter 3. Cognitive Robotics Process Automation Market - Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technology landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
        • 3.4.2.1. Increasing use of automation in manufacturing sector
      • 3.4.3. Asia Pacific
      • 3.4.4. Latin America
      • 3.4.5. MEA
    • 3.5. Restraints
      • 3.5.1. High initial investments
    • 3.6. Opportunity
      • 3.6.1. Digitalization in Asia Pacific region
    • 3.7. Innovation & sustainability
    • 3.8. Porter's Five Forces Analysis
    • 3.9. PESTLE Analysis
    • 3.10. Cognitive Robotic Process Automation Market: Market Attractiveness Analysis
      • 3.10.1. Market Attractiveness Analysis by End-Use Industry Segment
      • 3.10.2. Market Attractiveness Analysis by Component Segment.
      • 3.10.3. Market Attractiveness Analysis by Product Segment
      • 3.10.4. Market Attractiveness Analysis by Regional Segment
  •  
  • Chapter 4. Cognitive Robotics Process Automation Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2017
    • 4.2. Strategic Developments
    • 4.3. Acquisitions & Mergers
    • 4.4. New Product Launch
    • 4.5. Agreements, Partnerships, Collaborations and Joint Ventures
    • 4.6. Research and Development, Product and Regional Expansion
  •  
  • Chapter 5. Global Cognitive Robotics Process Automation Market - End Use Industry Segment Analysis
    • 5.1. Global Cognitive Robotics Process Automation Market Overview: by End-Use Industry
      • 5.1.1. Cognitive Robotics Process Automation Market Revenue Share, by End-Use Industry, 2017 and 2024
    • 5.2. Global Cognitive Robotics Process Automation Market by Retail, 2015-2024 (USD Million)
    • 5.3. Global Cognitive Robotics Process Automation Market by Transportation, 2015-2024 (USD Million)
    • 5.4. Global Cognitive Robotics Process Automation Market by BFSI, 2015-2024 (USD Million)
    • 5.5. Global Cognitive Robotics Process Automation Market by Healthcare, 2015-2024 (USD Million)
    • 5.6. Global Cognitive Robotics Process Automation Market by Manufacturing, 2015-2024 (USD Million)
    • 5.7. Global Cognitive Robotics Process Automation Market by IT & Telecom, 2015-2024 (USD Million)
    • 5.8. Global Cognitive Robotics Process Automation Market by Others, 2015-2024 (USD Million)
  •  
  • Chapter 6. Global Cognitive Robotics Process Automation Market - Component Segment Analysis
    • 6.1. Global Cognitive Robotics Process Automation Market Overview: by Component
      • 6.1.1. Cognitive Robotics Process Automation Market Revenue Share, by Component, 2017 and 2024
    • 6.2. Global Cognitive Robotics Process Automation Market by Hardware, 2015-2024 (USD Million)
    • 6.3. Global Cognitive Robotics Process Automation Market by Software, 2015-2024 (USD Million)
    • 6.4. Global Cognitive Robotics Process Automation Market by Service, 2015-2024 (USD Million)
  •  
  • Chapter 7. Global Cognitive Robotics Process Automation Market - Product Segment Analysis
    • 7.1. Global Cognitive Robotics Process Automation Market Overview: by Product
      • 7.1.1. Cognitive Robotics Process Automation Market Revenue Share, by Product, 2017 and 2024
    • 7.2. Global Cognitive Robotics Process Automation Market for Model-Based Robotics, 2015-2024 (USD Million)
    • 7.3. Global Cognitive Robotics Process Automation Market for Model-Free Robotics, 2015-2024 (USD Million)
  •  
  • Chapter 8. Global Cognitive Robotics Process Automation Market - Regional Analysis
    • 8.1. Global Cognitive Robotics Process Automation Market Overview: by Region
      • 8.1.1. Global Cognitive Robotics Process Automation Market Revenue Share, by Region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America Cognitive Robotics Process Automation Market, 2015 - 2024 (USD Million)
      • 8.2.2. North America Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
      • 8.2.3. North America Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.2.4. North America Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.2.5. U.S.
        • 8.2.5.1. U.S. Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.2.5.2. U.S. Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.2.5.3. U.S. Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.2.6. Rest of North America
        • 8.2.6.1. Rest of North America Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.2.6.2. Rest of North America Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.2.6.3. Rest of North America Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. Europe Cognitive Robotics Process Automation Market, 2015 - 2024 (USD Million)
      • 8.3.2. Europe Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
      • 8.3.3. Europe Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.3.4. Europe Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.3.5. UK
        • 8.3.5.1. UK Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.3.5.2. UK Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.5.3. UK Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.3.6. France
        • 8.3.6.1. France Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.3.6.2. France Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.6.3. France Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.3.7. Germany
        • 8.3.7.1. Germany Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.3.7.2. Germany Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.7.3. Germany Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.3.8. Rest of Europe
        • 8.3.8.1. Rest of Europe Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.3.8.2. Rest of Europe Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.8.3. Rest of Europe Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific Cognitive Robotics Process Automation Market, 2015 - 2024 (USD Million)
      • 8.4.2. Asia Pacific Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
      • 8.4.3. Asia Pacific Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.4.4. Asia Pacific Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.4.5. China
        • 8.4.5.1. China Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.4.5.2. China Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.5.3. China Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.4.6. Japan
        • 8.4.6.1. Japan Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.4.6.2. Japan Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.6.3. Japan Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.4.7. India
        • 8.4.7.1. India Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.4.7.2. India Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.7.3. India Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.4.8. Rest of Asia Pacific
        • 8.4.8.1. Rest of Asia Pacific Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.4.8.2. Rest of Asia Pacific Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.8.3. Rest of Asia Pacific Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin America Cognitive Robotics Process Automation Market, 2015 - 2024 (USD Million)
      • 8.5.2. Latin America Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
      • 8.5.3. Latin America Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.5.4. Latin America Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.5.5. Brazil
        • 8.5.5.1. Brazil Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.5.5.2. Brazil Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.5.5.3. Brazil Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
      • 8.5.6. Rest of Latin America
        • 8.5.6.1. Rest of Latin America Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
        • 8.5.6.2. Rest of Latin America Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.5.6.3. Rest of Latin America Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
    • 8.6. Middle East & Africa
      • 8.6.1. Middle East & Africa Cognitive Robotics Process Automation Market, 2015 - 2024 (USD Million)
      • 8.6.2. Middle East & Africa Cognitive Robotics Process Automation Market Revenue, by End-Use Industry, 2015 - 2024 (USD Million)
      • 8.6.3. Middle East & Africa Cognitive Robotics Process Automation Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.6.4. Middle East & Africa Cognitive Robotics Process Automation Market Revenue, by Product, 2015 - 2024 (USD Million)
  •  
  • Chapter 9. Company Profiles
    • 9.1. Blue Prism
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product Portfolio
      • 9.1.4. Business Strategy
      • 9.1.5. Recent Developments
    • 9.2. IPsoft Inc.
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product Portfolio
      • 9.2.4. Business Strategy
      • 9.2.5. Recent Developments
    • 9.3. NICE Systems Ltd.
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product Portfolio
      • 9.3.4. Business Strategy
      • 9.3.5. Recent Developments
    • 9.4. Automation Anywhere, Inc.
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product Portfolio
      • 9.4.4. Business Strategy
      • 9.4.5. Recent Developments
    • 9.5. Verint System Inc.
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product Portfolio
      • 9.5.4. Business Strategy
      • 9.5.5. Recent Developments
    • 9.6. UiPath
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product Portfolio
      • 9.6.4. Business Strategy
      • 9.6.5. Recent Development
    • 9.7. WorkFusion
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product Portfolio
      • 9.7.4. Business Strategy
      • 9.7.5. Recent Developments
    • 9.8. Pegasystems Inc.
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product Portfolio
      • 9.8.4. Business Strategy
      • 9.8.5. Recent Developments
    • 9.9. IBM Corporation
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product Portfolio
      • 9.9.4. Business Strategy
      • 9.9.5. Recent Developments
    • 9.10. Arago
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product Portfolio
      • 9.10.4. Business Strategy
      • 9.10.5. Recent Developments

Methodology

Free Analysis

Cognitive robotic process automation is a technology for robots that enables them to learn from their own experience and human teachings with the help of artificial intelligence technologies. This develops the ability of the robots to explicitly handle real-time situations without any human interference. Common elements of cognitive robotics include voice recognition, machine vision, speech synthesis, pressure, and texture sensing.

Cognitive robotics process automation solutions are used in IT & telecom sector to update customer data, monitor the customer relationship management (CRM) feeds, and for prevention of fraud data. IT industry has witnessed a remarkable growth over the past decade. In 2015, the global IT sector generated revenue of almost USD 4,400 billion as compared to USD 3,433 billion in 2010. This growth is attributed to the increasing number of offshore development centers in the Asia Pacific. In 2015, Indian IT industry generated revenue of nearly USD 120 billion as against USD 60 billion in 2008. This number is anticipated to grow as the IT sector in India is projected to reach USD 250 billion in 2020. Thus rise in IT sector is expected to fuel the growth of the cognitive robotic process automation market.

Global Cognitive Robotic Process Automation Market

Increasing use of internet in the retail sector is majorly driving the global robotic process automation market. Automated solutions in the retail sector are designed to update orders and prevent fraud accounts. Digitalization is paving the way for retailers to broaden their customer base. In the U.S. alone, the e-commerce sales grew by almost 16% in 2017 from 2016. The global e-commerce sales in 2017 were USD 2.3 trillion as compared to USD 1.3 trillion in 2014. The major factor contributing to this growth is increasing use of mobile applications for online shopping. The global products and services purchased through mobile were about 60% in 2017 as compared to 52.5% in 2016. Organizations in the retail sector have opted to use automated solutions to handle illegal accounts, update orders, and keep track of shipped goods. Thus, the retail sector will contribute significantly to the growth of cognitive robotic process automation market during the forecast timeframe. However, high initial investment is expected to have an adverse effect on cognitive robotics process automation market growth. Nonetheless, advancements in technology along with developments in various industry sectors may open new avenues for the market in the near future.

Based on the end use industry, the global cognitive robotic process automation market is fragmented into retail, transportation, BFSI, healthcare, manufacturing, IT & telecom, and others. BFSI segment is expected to hold a notable market share during the forecast timeframe. Hardware, software, and service are the component segment for the cognitive robotic process automation market. Software segment is projected to grow at a substantial rate during the forecast period.

North America holds a substantial share in global cognitive robotic process automation market and is anticipated to maintain its dominance during the analysis period. Increasing usage of cognitive robotic process automation for retail sector along with the rapid advancements in technology are the major drivers for the market in this region. Further, the presence of prominent market players such as IBM Corporation, I soft Inc., and Automation Anywhere, Inc., among others in the region is anticipated to shape the cognitive robotic process automation market massively. Usage of automation processes in the BFSI sector to reduce cost and enhance productivity is the major driving factor for the growth of cognitive robotic process automation markets in Asia Pacific region. The Asia Pacific is projected to grow at a significant rate during the forecast period.

Some of the key players in the cognitive robotic process automation market are Blue Prism, I soft Inc., NICE Systems Ltd., Automation Anywhere, Inc., Variant System Inc., Hipbath, Work Fusion, Peg systems Inc., IBM Corporation, and Aragon, among others.

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