Robotic Process Automation (RPA) Market : Top Players – UiPath, Automation Anywhere, Blue Prism, Pegasystems, Nice Systems, Kofax Inc., NTT Data Inc, HelpSystems, Rocket Software, Inc., and EdgeVerve

How will the increasing need of enhancing organization workflows propel robotic process automation market growth?

Today, several companies are laying immense focus on adopting various industrial practices such as industry 4.0 and Robotic Process Automation (RPA) to upgrade their process workflows and increase the overall productivity by reducing human intervention, reduce human errors, digitalization of machine processes, and streamline the supply chain process. These features have indeed led to the introduction and demand for the robotic process automation across diverse industrial applications. On this note, the global robotic process automation market is estimated to witness tremendous growth over time by registering the valuation of more than USD 23 billion by 2026.

Robotic Process Automation software automates the large-scale data processes and facilitates effective workflow management, financial datasheet management and billing management. This software also offers a centralized platform for controlling all the business process and enables audit of the information. When integrated with high end digital technologies such as AI, natural language processing and machine learning, RPA software adds more value to the intelligent automation processing.

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How are the increasing energy & utilities applications supporting the growth of robotic process automation industry?

Robotic process automation technology finds important usage in energy & utilities sector as it increases the overall efficiency of several back-office processes such as meter management, account management, customer billing and electricity consumption management, etc. For example, the UK based energy company EDF Energy, makes use of RPA for automating manual order entries which earlier took 70 hours per month to complete. Apparently, automating eight processes helped the company in obtaining six times return on investment.

Why is professional services segment amassing substantial gains in robotic process automation market?

Professional services which includes support and consultation services help in automating and enhancing the workflows in the organization. In addition, these services support organizations in extending RPA to additional services with higher effectiveness and security. RPA improves the productivity of professional services firms by allowing employees to accomplish more in same amount of time. For example, some of the tasks that require creativity, complex analysis, make judgment call or obtaining inputs from others can be assigned to a bot, while employees can focus on completing other work more suited to a human. Such advantages offered by RPA for professional services will foster the business space significantly over the given timeframe.

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Why is Asia Pacific likely to stand as a strong growth hub for robotic process automation market?

Thriving manufacturing and healthcare industries coupled with the rising investments in IT & telecom sector in Asia Pacific are the major factors that are supporting the growth of regional Robotic Process Automation industry. In addition, several organizations in the region are inclined on partnering and collaborating with prominent key players to develop and provide RPA software to banking and healthcare industries. To illustrate, in 2018, the China Construction Bank started a branch in Shanghai managed by AI-powered bots.

How are the strategic initiatives by major market players in robotic process automation industry contributing to its growth?

Major players operating in RPA market such as Blue Prism Limited, NTT Data Inc., EdgeVerve, Rocket Software Inc., UiPath, etc. are focusing on the development of AI and machine-learning-powered RPA systems to strengthen their product portfolio and gain a competitive edge in the market. In 2020, Infosys launched an AI-based solution named Cognitive Email Workbench which the company jointly developed with Blue Prism Ltd. According to the company, this solution offer enterprises the ability to improve their query management and helpdesk operations, which in turn enhances productivity and customer satisfaction. Meanwhile, the companies are also focusing on mergers and acquisitions to expand their foothold in the market.

Citing an instance, in 2018, SAP SE announced the acquisition of Contextor aimed at expediting the expansion and development of its SAP Leonardo Machine Learning portfolio.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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