Robotic Process Automation Market | RPA Global Industry Competitor Strategy Analysis by Top Leaders: Automation Anywhere, Blue Prism, Ipsoft, Pegasystems and Redwood Software

Market Highlights:

Robotic Automation uses software robots to copy humans performing repetitive acts with business applications. Robotic Process Automation first originated in the year 2000. It uses artificial intelligence and machine learning capabilities to execute repetitive tasks that require human intervention.

RPA can vastly benefit businesses by helping them to scale back or eliminate back end work for example and can be applied to many industries such as finance, supply chain management and human resource management to name a few. In order to increase the rate of adoption of the process, organizations are increasingly strategizing to integrate RPA with their traditional business processes. RPA is experiencing an increasing rate of adoption, since many of the businesses are trying to reduce or cut out time consuming processes to ease and streamline their business flow.

A report published by Market Research Future states that the robotic process automation market is expected to grow by USD 2,700 Million approximately by 2023 at 29% CAGR between 2017 and 2023.The factors that are driving growth of this market are high levels of cost saving for businesses. Since robots are utilized for the processes it helps reduce operational costs and also costs arising from human error. Thus a onetime investment on RPA ensures high returns to businesses who are more than eager to integrate these processes in their workflows.

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Major key Players

Automation Anywhere (U.S.),
Ipsoft (U.S.).
Pegasystems (U.S.),
Redwood Software (U.S.),
Uipath (Romania),
Verint (U.S.),
Blue Prism (U.K.),
Celaton Ltd (U.K.),
Nice Systems Ltd. (Israel),
Xerox Corporation (U.S.), among others.

Industry News
May 18, Blue Prism collaborates with identities to offer BFSI streamlined financial transactions.
Blue Prism, a pioneer in robotic process automation software, announced its partnership with identities, a leader in blockchain software solutions to help banks and financial institutions to securely digitize and automate payment and trade transaction processes, providing a detailed audit trial to facilitate the detection of fraudulent activities. Blue Prism’s Digital Workforce tool will help businesses to automate complex work processes.

Competitive Analysis
With the entry of new industry players in the robotic process automation segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced product types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Effective planning is essential in terms of business development so as to gain maximum returns on investment.

Regional Analysis
The regional analysis of Robotic Process Automation market is studied for North America, Europe, Asia Pacific and Rest of the World. Since a large number of autonomous vehicles market firms are based in North America, it is one of the leading player in Robotic Process Automation market. Moreover, countries like U.S. and Canada have adopted robots and artificial intelligence technology in various industry segments, North America will dominate the Robotic Process Automation market. Hence, the key players in the market are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio.
With rapid advancements in digitization and information technology in countries like China, India and Japan; the Asia Pacific region is expected to grow at highest CAGR in robotic process automation market.

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Intended Audience
• 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

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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This release was published on openPR.