According to a new market report published by Transparency Market Research, the global IT robotic automation market is expected to reach a value of US$ 11,417.4 Mn by 2026. The market is projected to expand at a CAGR of 28.1% during the forecast period from 2018 to 2026. IT robotic automation is utilized to improve processing speed and accuracy, to reduce cost. The software robots are used to interact with existing computing systems to execute application and process transactions; this is done by replicating human actions. Also, robotic automation has emerged as a strong alternative to outsourcing, especially offshore outsourcing. Some of the benefits of robotic automation are cost benefits and increased process efficiency over manual processes, which are contributing substantially to the growth of the IT robotic automation market worldwide. IT enterprises are leveraging robotic automation to facilitate self-service business.
Growing list of IT robotic automation solution vendors likely to boost the growth of the market over the forecast period
IT robotic automation is a go-to solution for organizations to benefit from process automation and advanced analytics in operations and processes at economical prices which was not possible with earlier automation approaches. Furthermore, software robots are programmed to be used with data-driven and rule-based processes. This offers a capability that can be leveraged irrespective of industry and application, in a cost-effective manner. IT robotic automation works around the clock executing required processes. Robotic automation has modernized the means of managing various business processes, IT management and support processes, workflow processes, and back-office work.
The IT robotic automation market is categorized by solutions (tools and services), by tools (model based and process based), by services (professional and training), and by professional (consulting, integration and development, and BPO). The cost and time benefits of IT robotic automation over traditional working methods is one of the major factors expected to aid the adoption of IT robotic automation worldwide. Also, ever increasing adoption of cloud based services among enterprises is another factor supporting the generation of new opportunities and thus the market is expected to witness significant growth in the coming years.
North America accounted for the largest share in terms of adoption of IT robotic automation in 2017. Furthermore, rapid developments in computing technologies indicate that the region is anticipated to observe significant growth in the coming years. Europe is likely to witness healthy growth in terms of the demand for IT robotic automation, considering the increasing preference for robotics. Asia Pacific is anticipated to be a high potential market for IT robotic process automation during the forecast period from 2018 - 2026. Furthermore, increasing offshore outsourcing and a dynamic IT industry is likely to favor the IT robotic process automation market in Middle East & Africa. South America is also expected to generate opportunities for robotic process automation in the coming years due to increasing emphasis by enterprises and governments in the region to improve quality and productivity.
The growing adoption of robotic process automation in finance and accounting (F&A) outsourcing industry has emerged as a disruptive solution during recent years. IT robotics process automation is maturing in terms of reliability and transparency; thus, more and more organizations are embracing automation technology.
Global IT Robotic Automation Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global IT robotic automation market. Some of the key players profiled in the report include Blue Prism, Be Informed B.V., Appian, IPsoft, Inc., Tata Consultancy Services Limited., Infosys Limited, Cognizant Technology Solutions Corp., Atos SE, Capgemini, Genfour, Genpact Ltd., Automation Anywhere, Inc., Sutherland Global Services, Inc., and UiPath SRL.
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