Global Robotic Process Automation Market by Key Industry Players: Automation Anywhere, Nice Systems, Blue Prism, Xerox Corporation, Ipsoft, Uipath, Celaton, Verint Systems, Pegasystems, Redwood Software

Robotic process automation market has a huge potential to transform the way organizations operate and support various business processes. Surging eminence of BPM solutions led to rising need of automating the operations by small & medium businesses to stay ahead of the competition. Factors such as capability of the technology to offer increased control over the processes and perform high-volume routine tasks without human intervention, contributes significantly to the RPA market growth. Rising awareness associated with the benefits of the solutions among various organizations such as high level of accuracy and efficiency provide impetus to the demand for Robotic process automation market solutions.

Robotic process automation market has been experiencing robust changes since the past decade, given that RPA software is extensively used for business process outsourcing and business process management. In addition, RPA tools have the strong capability to increase business process efficiency without having to implement any fundamental process change. The ability of the RPA software to effectuate smarter processes as compared to conventional IT applications is certain to augment robotics process automation industry.

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The inherent demand for automated technology to accurately perform complex tasks to reduce human errors is certain to impel RPA industry trends. Numerous firms have been striving to develop code-free, user friendly, and non-disruptive RPA software to access IT systems through user interface applications. Assigning manual jobs to bots simply implies that the reduction of human intervention in tedious tasks has now become commonplace. Experts have projected that the shift from humans to robots – an automation paradigm – will improve the process efficiency and reduce overall costs, which has been forecast to create profitable roadmap for robotic process automation market.

Increasing demand from organizations to automate the business processes such as handling customer enquiries is leading to the significant growth of automated solutions demand. Adoption of such automated solutions helps organizations to streamline the business operations and focus on their core competencies. Automation of monotonous tasks such as timesheets & proposal submissions eliminates the work load on production team results in increased productivity and fueling the organization’s competitiveness.

Robotic Process Automation Market was over USD 600 million in 2016 and is set to exceed USD 5 billion by 2024.

Growth Drivers

. High demand to reduce operational cost across business in the U.S.

. Emerging demand for RPA across the service sector in Asia Pacific

. Rising demand across manufacturing and logistics industry in Europe

. Flourishing IT & support industry in Brazil

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To bridge the gap between largely backed digital transformation projects, the IT & telecom sector is expected to witness high growth in the Robotic process automation market. With a virtual workforce that streamlines the traditional business processes, RPA can accomplish this leading the valuable company resources to focus on more important work. The BFSI industry is expected to witness highest adoption of RPA solutions, which can be attributed to the accuracy, efficiency offered by such systems in terms of costs, providing a quick way to address the regulatory compliance issues by bridging the connection between the BPM and ERP systems.

Robotic process automation market is forecast to experience escalated growth across various regions, with Europe and Australia contributing prominently towards the business expansion. While the shortage of workforce and a huge presence of manufacturing & logistics companies are predicted to impel Europe robotic process automation market, the mounting demand for support staff to process customer requests across the banking, telecommunications, insurance, and government sectors will spur the growth of Australia RPA industry.

Key industry player in RPA market includes biggies such as Automation Anywhere, Nice Systems Ltd., Blue Prism, Xerox Corporation, Ipsoft, Uipath, Celaton Ltd, Verint Systems, Pegasystems, and Redwood Software

Browse key industry insights spread across 190 pages with 179 market data tables & 20 figures & charts from the report, Robotic Process Automation (RPA) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/robotic-process-automation-market

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