Blue Prism Technology Services Market to Witness 30X Growth in Revenues; Vendors Shift Focus from Large Companies to SMEs

The industrial world is transforming from the labor-centric approach to tech-driven automation to bolster the accuracy and productivity of a variety of tasks. Blue Prism technology services build a bridge of end-users to employ state-of-the-art automation services, such as robotic process automation, that can bring various business operations from the shop floor to a computer.

An in-depth study was recently published by Fact.MR, which assess developments in the Blue Prism technology services market and predict future prospects of the market during the period 2018-2028. The Fact.MR study finds that the Blue Prims technology services market reached nearly US$ 95 million in 2018. The study predicts that the market will witness unprecedented growth with the revenues reaching approximately 30X higher by the end of the forecast period.

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With rapidly growing adoption of Blue Prism technology services in wide-ranging industrial applications, the Blue Prism technology services market will witness over 37.6% y-o-y in 2019 over 2018, opines the Fact.MR study. The study remains positive about emerging growth opportunities in the Blue Prism technology services market as a mounting number of industrial customers willing invest in robotic process automation to avail its benefits in the long run.

“Robotic process automation is in the vanguard of modern technologies as it is triggering ‘virtual integration’ of technological advancements in existing software services. Various types of Blue Prism technology services are replacing traditional technologies in robotic process automation to eliminate the need for repetitive human efforts. Growing adoption of robotic process automation and robots replacing human workforce in a vast range of end-use industries is shaping the future of Blue Prism technology services market,” says the Fact.MR study.

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Small- and Medium-scale Enterprises will Remain Target Customers for Blue Prism Technology Service Vendors

The Fact.MR study predicts that small- and medium-scale enterprises (SMEs) will remain the prime focus for stakeholders in the Blue Prism technology services market. Even though, currently large enterprises and multinational companies hold a larger share in the Blue Prism technology services market, SMEs will witness fastest growth to open new avenue of growth for Blue Prism technology service providers in the foreseeable future, opines the Fact.MR study.

The study sheds light on the increasing number of SMEs in a variety of end-use industrial sectors around the globe. Developed as well as developing countries are witnessing staggering growth in terms of industrial developments. Lucrative business opportunities are attracting an increasing number of start-ups and small businesses entering a variety of markets, especially in emerging economies.

The European Commission found that, in U.K., around 1.87 million SMEs were registered in 2015, and over 100,000 new businesses were registered in just one year, by the end of 2016. The trend follows in the North American region as well. Over 30 million small businesses were registered in the United States (U.S.), as stated in a recent report published the U.S. Small Business Administration. The significant rise in start-ups and medium-scale businesses in developed regions signifies lucrative opportunities for Blue Prism technology service providers.

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Furthermore, over 70% of the micro, small, and medium enterprises (MSMEs) in Southeast Asian countries are currently engaged in labor-intensive services, find the ‘ASEAN Small and Medium Enterprises (SME) Policy Index 2018’ report published by Association of Southeast Asian Nations (ASEAN). A majority of the MSMEs in the Asia-Pacific region are making a shift towards advanced technologies to improve efficiency and productivity of their business practices, which further creates profitable sales opportunities for Blue Prism technology services market players in the region.

The Fact.MR study provides comprehensive information about how the market will grow throughout the period 2018-2028. The study predicts that the Blue Prism technology services market will grow at a remarkable 40% CAGR during the forecast period.

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This release was published on openPR.