IT Robotic Automation Market Set for Rapid Growth and Trend by 2020-2025

The robotic automation also known as robotization is automation of industrial and business processes with the help of robots or different types of guises.

For example, industrial robots are 0used in manufacturing units and software robots are used in business processes in service sectors. The global IT robotic automation market is anticipated to grow with the CAGR of 50.3% in the forecast period 2016-2023. The factors driving the global IT robotic automation market includes:
• Strong alternative to offshore outsourcing
• Ability to leverage other application software without integration
• Increasing adoption in finance and accounting (F&A) sector
• Stagnation of industrial manufacturing
• High adoption rate of robotics IN SMES

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A large number of investments are done in global IT robotic automation market. According to the national science and technology council of United States the U.S. government invested around $1.1 billion in research and development of artificial intelligence technologies in 2015 due to the significant capabilities of robotic automation such as high accuracy and quality of work, shorter cycle time, high scalability and flexibility. However, the economic situation has changed quite significantly post Covid19. However, the ICT and robotics field in general has only benefitted due to increased application in various segments due to remote working and physical distancing. The report includes the Covid 19 impact on the economic scenario in general and the robotic automation market in specific. All the significant economic and industry metrics that have changed post the pandemic has been considered to deliver precise revenue forecast.

The global IT robotic automation market is segmented into tools, services and technology. On the basis of tool, the market is sub segmented into:
• Model-based application tools
• Process-based application tools
On the basis of service, the market is sub-segmented into:
• Professional market
• Consulting market
• Integration and development market
• Application management
• Infrastructure management
• BPO market
• Training market
On the basis of technology, the market is sub segmented into:
• Back office data driven process market
• Voice recognition market
• Digital detection market
• Remote infrastructure market
• IVR system market
• Internet retailer and service provider market
Geographically, the global IT robotic automation market is segmented into:
• North America (U.S. & Canada)
• Asia Pacific (China, India, Japan, RoAPAC)
• Europe (UK, France, Germany, RoE)
• Rest of World

North America occupied major share of the global IT robotic automation market, in terms of revenue in 2019 followed by Europe and Asia pacific region. North America being the early adopter of robotic automation is the key reason of being the market leader. Also, it has consistently led the initiatives taken by the providers of robotic process automation tool to create awareness. Europe introduced itself as another key market for robotic automation, because of large investments by IT companies working in outsourcing. However, in the forecast period, Asia Pacific is expected to have the fastest growth rate in global IT robotic automation market due to rapid development and industrialization along with the increasing need to manage and optimize the processes.

On the basis of tools the global IT robotic automation market is further sub segmented into model-based application tools and process-based application tools. Out of which, process based application holds the largest market shares owing to the various applications in industrial and production segment. The service segment is further sub segmented into professional market, consulting market, integration, and development market, application management, infrastructure management, BPO market and training market, where BPO is the fastest growing segment worldwide. Technology segment is sub segmented into back office data driven process market, voice recognition market, digital detection market, remote infrastructure market, IVR system market, internet retailer and service provider market.

The major market players of the global IT robotic automation market are:
• AUTOMATION ANYWHERE, INC.
• APPIAN CORPORATION
• BLUE PRISM
• COGNIZANT TECHNOLOGY SOLUTIONS CORP,
• GENFOUR
• INFOSYS LIMITED GENPACT LTD
• IPSOFT, INC.
• SUTHERLAND GLOBAL SERVICES
• TATA CONSULTANCY SERVICES LIMITED
• OTHERS

Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.

These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. Accenture welcomed Amelia’s special and unique capabilities in their technology portfolio for artificial intelligence which provided benefits to their clients of every industry. The creation of an Accenture Amelia practice by ipsoft and Accenture created an important impact on artificial intelligence market. The combination of Accenture’s services capabilities and focus on AI, with the IPsoft’s strong positioning in Intelligent Automation Continuum led to new approachs towards value for customers.

The key data points that enabled estimation of the IT robotic automation market are as follows:
• Annual revenue and market share of companies
• Cost of robotic automation tools and services
• Cost of installation
• Comparison of cost reduction due to automation compared to human resource
• Industry and department wise study of each RPA tool and service which includes finance and accounting, back office, BPO, consulting and others
• Regional analysis
Critical data was obtained through various reliable sources which includes company’s financial documents and factsheets, articles, press releases and others key documents. Intensive primary research was conducted among various key industry people in IT sector and government authorities to validate the obtained data. Various economic indicators were considered to estimate the market size. Some of the factors include per capita IT expenditure, comparative cost analysis of RPA tools and services and traditional processes, awareness levels and so on.
• Other data considered to estimate the market size is as follows:
• Annual revenues of companies
• Growth in IT automation spending
• Growth in data centers workloads
Revenue by countries were estimated and analyzed through following data points:
• Adoption of IT automation in region
• IT spending in these region
• Geographical expansion market players in these regions
• Government regulations
Why to buy the report:
This report will:
• Provide you the business strategies adopted by market player such as merger as in May 2016 till August 2020. Provide you the patent analysis of global IT robotic automation market.
• Identify and understand the strength, opportunities, challenges and threat of global IT robotic automation market.
• Provide revenues of major players of the market such as Cognizant Technology Solutions Corp.
• Provide you the various regulatory policies which affect the global IT robotic automation market.

How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global IT robotic automation market offers the longest chain of market segmentation covering major market segmentation based on tools, services and technology. The report tracks the major market trends in the global IT robotic automation market such as cloud robotics and robotics as a service. For each market segments covered in global IT robotic automation market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the IT robotic automation industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.

Key findings of global IT robotic automation market:
• North America held the largest revenue share in 2019.
• Product launch and partnership is the key strategy adopted by the various market players of global IT robotic automation market.
• BPO sector is the major segment of services.

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