IT Robotic Automation Market: Demand for Streamlined Work Processes to Propel Growth

The global IT robotic automation market is anticipated to witness a tremendous rate of growth in the coming years, as reported by Transparency Market Research (TMR). The report throws light on the highly competitive vendor landscape of the market. It finds that the global IT robotic automation market is characterized by the presence of established vendors that are offering innovative solutions at competitive prices, and are vying for the top market spot and revenue. Leading market participants include Blue Prism, Tata Consultancy Services Limited., UiPath SRL, Sutherland Global Services, Inc., and Infosys Limited.

The global market for IT robotic automation is anticipated to reach a valuation of US$16,884.0 mn by the end of 2024. The market is slated to exhibit a whopping 47.1% CAGR over the forecast period of 2016 to 2024.

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Early Adoption of Technology to Propel North America to Forefront

On the basis of type of solutions, the overall IT robotic automation market is segmented into tools and services. Among these, the services segment currently holds the leading market share and is expected to continue its lead throughout the forecast period. Regionally, the North America market for IT robotic automation held the major share in 2015, in terms of revenue. The dominance of the regional market is primarily attributed to a large number of early adopters and the growth is likely to be fueled by substantial advances being made in computing technologies.

Rapid developments in computing technologies in North America indicates that the region will continue seeing substantial growth in IT robotic automation in the coming years as well. Additionally, the rising IT and IT-related services are likely to result in surge in the uptake of automation services in the region in the next few years.

Proliferation of Automation to Offer Tangible Opportunity to Vendors

Automation enables to accomplish a given task with negligible errors, precision and low human efforts. This has resulted in its uptake in various sectors to make the operations more nimble. This has resulted in boosting the growth of the global IT robotic automation market. Appreciable advancement in the technology with respective IT robotic automation reduces the inaccuracy and boosts the efficiency. Similarly, factors such as growing acknowledgment in accounting and finance sector, High product innovation,

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Due to the high degree of flexibility and scalability of the solution, and greater requirement for data processing and workflow management, it has witnessed widespread deployment in different business environments. The availability of an automated solution that is viable for large-scale deployment in data management is a major driver for the market growth. Furthermore, the uptake of robotic automation tools and services has led to a significant reduction of infrastructure headcount. The rising share of robotic automation in big data analytics to leverage never-seen-before benefits is anticipated to unlock exciting opportunities for manufacturers and vendors in the market.

This review is based TMR’s report titled, “IT Robotic Automation Market (Solution - Tools and Services; Tools - Model-based Application Tools and Process-based Application Tools; Service - Professional (Consulting, Integration and Development, and BPO) and Training) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”

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Key Takeaways:

The growing prominence of process automation in big data analytics is a major factor boosting growth

North America holds a dominant share of the IT robotic automation market

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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This release was published on openPR.