Robotic Process Automation in the Telecommunications (RPA) Market Projection By Key players – UiPath, Automation Anywhere, Blue Prism, NICE, Pegasytems, KOFAX, Inc., NTT Advanced Technology Corp., EdgeVerve Systems Ltd., FPT Software, OnviSource, Inc.,
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The global robotic process automation market size was valued at USD 1.57 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 32.8% from 2021 to 2028. A shift in company business operations due to the pandemic-induced work-from-home situation is expected to favor market growth over the forecast period. The market is anticipated to evolve with the integration of cognitive technologies and changing business processes across enterprises. Moreover, the increasing need for automating redundant tasks is expected to drive the market over the forecast period. Automation induces quick implementation, execution, and arrangement of the large volume of data in less time than mechanical procedure with the reduced overhead expense for enterprises.
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The role of technology is evolving continuously at a faster pace, aiding in overcoming business challenges to satisfy ever-changing consumer requirements. the mixing of robotic process automation (RPA) with machine learning can help in advancing the capabilities of software bots beyond rule-based processes and allowing task execution almost like human decision-making skills. Moreover, AI (AI) in RPA can aid in structuring unstructured data, enhance business insights, and improve data integrity. as an example , Automation Anywhere is developing a Discovery Bot that might exhibit the importance of AI systems in automation. The bot solution is predicted to assist in overcoming the challenges in RPA, like identifying processes to automate by recording and analyzing keystrokes from worker’s desktops. The AI embedded in RPA bots and its application in enhancing automated processes across enterprises is predicted to reinforce the market growth over the forecast period.
In a highly competitive market, it's become essential to extend the agility of labor and deliver enhanced customer experiences. The enterprises across the BFSI, healthcare, IT and Telecom, and other industries are deploying RPA to extend productivity and efficiency while reducing overhead labor costs for repetitive tasks. RPA bots can work across different legacy systems to retrieve information available on the digital platform. as an example , bank users can check their account online and found out automatic bill payment and KYC verification, among other functions, through the utilization of the web . These services have reduced manual intervention by assisting in delivering a far better customer experience. Thereby, the necessity to automate repeated tasks across business domains, like tech support, technology, finance, HR, operation, and procurement, is contributing to the market growth.
The global pandemic disrupted both internal and external business processes. Industries, like retail, manufacturing, and IT & Telecom, were facing slumped business, whereas healthcare organizations were overwhelmed with the increasing number of Covid-19 cases. This unprecedented event affected back- and front-end office operations resulting in long reaction time , employee burnout, documentation backlog, and provide chain disruptions among others. Thereby implementation of an automation solution was pivotal in optimizing costs, offering faster customer services, and streamlining testing and reporting. Moreover, the pandemic has accelerated the necessity for a digital workforce across enterprises and open up new avenues for RPA providers to capture the market. Automation is predicted to define the work post-pandemic because the organizations are witnessing structural changes with employees performing from home. The positive outcome of implementing RPA during a recession-induced by the pandemic is predicted to spice up its demand post-pandemic and impel the market growth.
Some prominent players in the global robotic process automation (RPA) market include:
• Automation Anywhere
• Blue Prism
• KOFAX, Inc.
• NTT Advanced Technology Corp.
• EdgeVerve Systems Ltd.
• FPT Software
• OnviSource, Inc.
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Table Of Content:
1 Report Overview
2 Global Growth Trends
3 Competition Landscape by Key Players
4 Market Size by Type (2021-2028)
5 Market Size by Application (2021-2028)
13 Key Players Profiles
14 Analyst's Viewpoints/Conclusions
Continued. . .
Major Highlights of the Robotic Process Automation in the Telecommunications (RPA) Market Report:
• The Robotic Process Automation in the Telecommunications (RPA) Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
• The report dives deeper into the market and explains the dynamic factors bolstering market growth.
• The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
• The report analyzes the Robotic Process Automation in the Telecommunications (RPA) Market presence across major regions of the world.
• It determines the production & consumption capacities and demand & supply dynamics of each regional market.
• The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
• It provides company overview and SWOT analysis of each of the market players.
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