IT Robotic Automation Market a Staggering 47.1% CAGR By 2024

IT robotic automation, being highly useful in advanced analytics in processes, operations, and process automation, are being adopted by a number of public and private organizations. Via cost-efficient automation software, IT robots can be programmed to enable their deployment in rule-based and data-driven processes, significantly boosting the productivity across a plethora of applications.

The global market for IT robotic automation has been segmented on the basis of services, solution, tools, and geography. By tools, model based and process based are the two prominent categories. Whereas, by solution, the market has been classified into services and tools. The services segment has been divided into training and professional services. BPO, consulting, and integration and development are the key segments of the professional services segment.

The report maps the progress of the market players, keeping track of their key marketing strategies, individual market shares, and product portfolios. The key restraints, growth opportunities, recent developments, and drivers of the market have also been highlighted in the report, alongside market projections.

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Global IT Robotic Automation Market: Drivers and Restraints
The elimination of the need of integration and enhanced productivity in process handling such as workflow processes, back office processes, and IT management and support processes in a cost effective way have been catalyzing the growth of the global market for IT robotic automation technology. The rapid expansion of the market can also be attributed to the rising demand for IT robotic automation technology from the finance and accounting (F&A) sector.

The deployment of robotic automation reduces human interference in monotonous tasks, thereby redirecting human labor in other, more productive tasks. This results in the creation of a virtual workforce that can handle a variety of jobs. Moreover, as the automation process involves graphical user interface (GUI) that allows the user to communicate and interact via visual indicators instead of text-based interfaces, the need for integration with other software is unnecessary.

On the other hand, absence of knowledge about the availability and significance of IT robotic automation technology might impede growth. Security issues concerning privacy and easy access to data can also restrain the growth of the market. However, the emergence of IoT and the torrent of new, advanced gadgets will ensure the progress of the market.

Global IT Robotic Automation Market: Regional Outlook
By geography, Europe, South America, Asia Pacific, the Middle East and Africa, and North America are the key segments of the global IT robotic automation market. North America emerged as the leading contributor to the growth of the market, as it has been embracing IT robotic automation across numerous end-use industries well before other regions.

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Europe is likely to hold a significant share in the global market by the end of the forecast period, driven by growing inclination towards the incorporation of robotics in workplaces. The presence of a vast number of vendors in the region has been encouraging the use of robotic software by various medium, large, and small sized business enterprises.

Greater of opportunities, however, are offered in Asia Pacific. Countries such as China and Japan are home to many technology giants. Asia Pacific has thus emerged as a lucrative market for IT robotic automation. The downpour of heavy investments in the corporate sector, coupled with the exceptional growth of the IT industry in countries such as India, has been stimulating the global market for IT robotic automation.

Companies mentioned in the research report
Infosys Limited, Automation Anywhere, Inc., Blue Prism, UiPath Srl, Capgemini, Sutherland Global Services, Inc., Cognizant Technology Solutions Corp., Tata Consultancy Services Limited., Be Informed B.V., Genpact Ltd., IPSoft, Inc., and Atos SE are some of the major companies operating in the global IT robotic automation market.

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