Robotic Process Automation (RPA) Market Global Leaders -

Market Highlights:

Robotic process automation (RPA) is refer as software robots. RPA is a combination of artificial intelligence and machine leering technologies, as result this robots can perform any task and that to repeatedly. The task may include calculation, transaction, IT management, and training, and various other activity that are practice in business on daily basis.

Robotic process automation is nothing to do with robots. Term robot is referred to software that perform or carried some activities, where human are not involved due complexity or chances of errors. Thus RPA is a same as any other software that can perform same activity, but, they have the ability to learn and quickly adapts the changes by their own.
RPA ensure all the business operations activities followed with regulations and standards. At a same time, enhancing the customer service. Considering this aspect, ‘Market Research Future’ recently gave out the market insights till 2023. According to this MRFR analysis, the global robotic process automation (RPA) market is expected to reach USD $2,700 Million and to grow at CAGR of 29% during the forecast period.

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Major Key Players
Broadcom Limited (U.S.),
Denso Wave Incorporation (U.S.),
ABB Ltd. (U.S.),
Nachi Robotic System Inc. (U.S.),
Pegasystems (U.S.),
Redwood Software (U.S.),
Samsung Electronics Co. Ltd. (South Korea),
Huawei Technologies Co. Ltd. (China),
LG Corporation (South Korea),
Foxconn Technology Group (Taiwan),
Fanuc Corporation (Japan),
Seiko Epson Corporation (Japan),
Nice Systems Ltd. (Israel),
Yaskawa Electric Corporation (Japan),
KUKA Robotics (Germany)

Drivers:
Today, most of industries are looking out for skilled labor with minimum cost. But due to lack of availability of both requirements this could be the one of reason for growing demand of RPA software. Another reason may be, industries are focusing on quality and consistent which is quite impossible for any human to do same task repeatedly, this may rise chances of errors, hence RPA is best solution for this which can mimic like humans and give better result.

The financial firm can use this RPA robots to perform various financial activity like foreign exchange, no manual process for closing and opening the accounts, replying the customer’s quires through chat bots. The ultimate aim of any sector is customer satisfaction and RPA is ideal solution for this. Therefore, the sectors like healthcare, telecommunication, HR departments are shifting toward this robot software.
On other side, only factors that can hinder the market growth is complex model pricing and installation cost.

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Segments:

The robotic process automation industry is fragmented by processes, operations, type, industries, and regions. Processes is sub-segmented by automated solution, decision support and management solution. Type by tool, they acquire for largest market share in automation process. Industry divided by it & telecommunication, manufacturing & logistics. As per report study healthcare and pharmaceutical industry is expected to grow at the highest CAGR in coming years.
The market is being studied for following region Asia pacific, North America, Europe and Rest of the World. North America will dominate the market with maximum market share, due to growing awareness of the RPA robots in the industries and their benefits. As a result, many large scale industries in this region have adopted RPA processes.
Asia-Pacific is expected to emerge as fastest growth during the predicted period, because RPA offers premium quality and they can carry out all the tedious operations repetitively and minimize organization complexities.

Intended Audience
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Supply Chain & Logistics Organizations
• Original Equipment Manufacturers
• Healthcare & Pharmaceutical Industry

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This release was published on openPR.