Robotic Process Automation (RPA) Market 2018 Global Key Leaders: Automation Anywhere, Blue Prism, Celaton Ltd, Ipsoft, Nice Systems, Pegasystems, Redwood Software, Uipath, Verint, Xerox Corporation

Market Scenario:

Robotic process automation is an application technology where software with capabilities of artificial intelligence and machine learning are used for handling high volume, repeatable tasks. RPA allows employees to configure and program a computer software or a robot to interpret exiting application in the organization for manipulating data, processing transactions and communicating with digital systems. The RPA is similar to traditional IT automation but the major difference between these technologies is, RPA is capable of learning itself and adaptive to changing circumstances which a traditional IT automation system lacks.

According to the study, healthcare and pharmaceutical industry is expected to grow at the highest CAGR. The study indicates banking and financial industry accounts for large adoption of RPA. In robotic process automation market by type segment, tools acquire for largest market share. High efficiency with low cost are few of the major factors driving the market of RPA. Whereas complex pricing model while implementation and dealing with clients is one of major challenge to the market.

The robotic process automation market is expected to grow at approximately USD 2,700 Million by 2023, at 29% of CAGR between 2017 and 2023.

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Industry Updates:

Mar 2018 UiPath has recently completed a fresh round of Series B funding successfully following which the Robotics Process Automation company is planning to additionally hire 100 engineers.The fresh endowment of $153 million in funding will allow the company’s product roadmap to get fast-tracked. Additionally, UiPath will also carry on the expansion of its worldwide operations with the setting up of new offices in cities like Houston, Amsterdam, Munich, Seoul, Paris and Washington in this year, along with their India centre. The company, UiPath is regarded to be one of the unique companies in this space and has an estimated value of $1.1 billion.

Global Competitive Analysis
The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise's liquidity to take the most effective decisions in terms of strategy execution and designing. The profitable situations accessible in this market are being utilized by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector.

Detailed Regional Analysis

The regional analysis of the market for robotic process automation comprises of region such as Asia Pacific, Europe, North America, and Rest of the World. The North American region controls the main share in the robotic process automation sector due to increased growth in the field of technology and existence of developed countries in the region. The Europe region is one of the noteworthy players in the industry for robotic process automation. The countries like Germany, U.K. and Italy are the main suppliers in the market’s development owing to the rich automotive and manufacturing industry. The Asia-Pacific region is estimated to grow as the most rapidly growing sector through the forecast period. The development of the Asian nations and need for consumer electronic products is driving the makers to accept a cost effective skill in the manufacturing procedure.

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