Robotic Process Automation (RPA) Market Analysis & Technological Innovation by Leading Key Players Blue Prism Group Plc, Celaton Ltd., Softomotive, Kofax Ltd., Xerox Corporation, Automation Anywhere Inc., Ipsoft, Inc., UiPath.
Market Study Report, LLC, has come up with a report on the Robotic Process Automation (RPA) Market which provides a holistic synopsis of the market size, market valuation, revenue estimate, SWOT analysis, and the geographical spectrum of this industry. The report accurately underlines the key challenges and opportunities for growth during the forecast period. In addition, it sheds light on the current competitive scenario and reviews the business strategies adopted by the Robotic Process Automation (RPA) Market players.North America is expected to be largest regional market while Asia Pacific regional market is expected to witness significant growth during the forecast period of 2018 to 2026. The region's leading position is attributed to significant demand and preference of the BFSI industry vertical towards automation of business processes. Furthermore, presence of established and major players in North America region and availability of infrastructure for effective adoption of RPA is another factor responsible for the boost in adoption of robotic process automation solutions.
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European region is expected to witness growth in this market as the region has a presence of significant amount of companies in the manufacturing and logistics sector. Adoption of RPA technology provides the capability to streamline pickup and drop operations. This eventually leads to reduction in cycle time ultimately resulting in enhanced customer experience.
The global Robotic Process Automation (RPA) market size is projected to reach USD 8,781.2 million by 2026 growing at a CAGR of 29.5%. Requirement of businesses to eliminate human errors due to manual interference in processes along with reduction in time consumption are factors responsible for positively influencing the adoption rate of RPA technology.
The major key players operating in the robotic process automation (RPA) market include Blue Prism Group Plc (UK), Celaton Ltd. (UK), Softomotive (UK), Kofax Ltd. (U.S.), Xerox Corporation (U.S.), Automation Anywhere Inc. (U.S.), Ipsoft, Inc. (U.S.), UiPath (U.S.), Verint Systems Inc. (U.S.), Pegasystems Inc. (U.S.), Redwood Software (Netherlands), Daythree Business Services sdn bhd (Malaysia), and Kryon Systems (Israel).
Previously artificial intelligence and robotic process automation were largely considered to be different technologies. But, with advancements in the offerings it is observed these technologies are complimenting each other in terms of handling processes. It enables organizations in processing huge volumes of data and in providing support for better decision making. Cognitive computing which covers wide array of areas including adaptive learning, speech recognition, and pattern identification is integrated in robotic process automation (RPA) solutions to transform and automate crucial business processes of organizations across multiple industry verticals.
The potential of achieving robust ROI from deployment of RPA completely dependent on the organizational requirements and business processes which are to be automated. In the near future, the market is expected to witness growing base of RPA vendors as they target to gain revenue share from this expanding market. This is expected through introduction of solutions which will cater to the rising need to automate business process management processes. Furthermore, the adoption is expected to intensify as the prices of RPA deployment are continually witnessing a declining trend. Moreover, this technology adoption provides organizations the capability to accomplish better outcomes from their process with benefits including reduction in costs, improved accuracy, and better compliance.
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However, factors like reluctance in the transition phase from conventional business process to automation along with shortage in technical expertise required during deployment and integration of RPA solution are challenges which might affect the growth in this market. roThis market report includes insights with market size and forecast by process, by operation, by type, by industry, and by organization size. Analysis for each region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) is provided for all segmentation of the robotic process automation market research report.
This Report has segmented the global robotic process automation market on the basis of process, operation, type, industry, organization size, and region:
Robotic Process Automation by Process Outlook (Revenue, USD Million, 2015 - 2026)
• Automated Solution
• Decision Support and Management Solution
• Interaction Solution
Robotic Process Automation by Operation Outlook (Revenue, USD Million, 2015 - 2026)
• Rule Based
• Knowledge Based
Robotic Process Automation by Type Outlook (Revenue, USD Million, 2015 - 2026)
• Tool Based
o Model-Based Application Tools
o Process-Based Application Tools
• Service Based
o Consulting
o Integration and Development
o Training
Robotic Process Automation by Industry Outlook (Revenue, USD Million, 2015 - 2026)
• IT & Telecom
• Healthcare and Pharma
• BFSI
• Manufacturing
• Logistics
• Retail
• Travel & Hospitality
• Others
Robotic Process Automation by Organization Size Outlook (Revenue, USD Million, 2015 - 2026)
• Small and Medium Sized Businesses (SMBs)
• Large Enterprises
Robotic Process Automation by Region Size Outlook (Revenue, USD Million, 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Belgium
o Netherlands
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East and Africa
o Israel
o South Africa
o Saudi Arabia
o UAE
o Rest of MEA
More Details on this Report At: https://www.marketstudyreport.com/reports/robotic-process-automation-rpa-market-size-share-trends-industry-analysis-report-by-process-automated-solution-decision-support-management-solution-interaction-solution-by-operation-by-type-by-industry-by-organization-size-by-region-segment-forecast-2018-2026
Related Report:
1. Southeast Asia Robotic Process Automation Market Report (2014-2024) - Market Size, Share, Price, Trend and Forecast
This report is an essential reference for who looks for detailed information on Southeast Asia Robotic Process Automation market. The report covers data on Southeast Asia markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Southeast Asia major vendors?? information. In addition to the data part, the report also provides overview of Robotic Process Automation market, including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.
https://www.marketstudyreport.com/reports/southeast-asia-robotic-process-automation-market-report-2014-2024-market-size-share-price-trend-and-forecast
2. Global Robotic Process Automation in the Telecommunications Market Growth (Status and Outlook) 2019-2024
Robotic process automation is an application technology where software with capabilities of artificial intelligence and machine learning are used for handling high volume, repeatable tasks. RPA allows employees to configure and program a computer software or a robot to interpret exiting application in the organization for manipulating data, processing transactions and communicating with digital systems.
https://www.marketstudyreport.com/reports/global-robotic-process-automation-in-the-telecommunications-market-growth-status-and-outlook-2019-2024
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