Cognitive RPA is becoming one of the fastest moving technologies that is helping the enterprises to automate their complex repetitive tasks done by humans which takes lot of time and efforts. RPA technology vendors are integrating cognitive capabilities within RPA platforms for making it more advanced and intelligent. Global cognitive robotic process automation market is rapidly growing due to increasing adoption of digital workforce across different industries. Cognitive technologies integrated within robotic process automation helps to automate complex repetitive tasks by enabling decision making capabilities. This helps to carry out activities such as data entry and reconciliations. Cognitive automation requires human assistance only in cases where it encounters some of the unknown problems and queries. Cognitive robotic process automation learns from the human operator in order to improve its automation capabilities for the next time if it encounters the same problem.
This high scale growth of cognitive robotic process automation industry is subsequently influencing the market, wherein new cognitive technologies are being developed. The increasing interest towards the adoption of digital workforce in order to reduce cost and increase efficiency is considered to be the key drivers for its increased adoption across multiple industries.
Moreover, developments in the cognitive technologies as well as the increasing demand of automation from financial sector is providing an opportunity for the growth of the global cognitive robotic process automation market. There are mainly two types of cognitive robotic process automation market that includes services and platforms. In addition to this, the market of cognitive robotic process automation platform is expected to have the highest growth rate during the forecast period 2017-2026 due to the high demand across Asia-Pacific region. By analysis, global cognitive robotic process automation market is estimated to generate a revenue of $50.0 million in 2017 and is forecast to grow at a CAGR of 60.9% during 2017-2026. North America is expected to acquire most of the revenue in the global cognitive robotic process automation market in 2017 with the U.S. acquiring most of the market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2017-2026.
Following points provide a concrete description of the report content and the topics covered in the report:
- This report identifies the global cognitive robotic process automation market under different segments such as types, industries and regions
- It examines prime supply side factors affecting the growth of the market along with the current and future trends, market drivers, restraints and challenges prevalent in the global cognitive robotic process automation market
- The report also highlights the value chain of the industry with a major focus on the technology roadmap
- A detailed competitive analysis has been included in this report which focuses on the ?key market developments & strategies followed by the key players in the market. Additionally, market share analysis model has been included in the existing study which analyzes the share of the market players in the global cognitive robotic process automation market
- Different types of the global cognitive robotic process automation market, such as services and platforms, has been estimated and analyzed in the report
- Different industries, such as finance and banking, insurance, healthcare, telecom and IT services and others, which are expected to enhance the demand of the cognitive robotic process automation has been estimated and analyzed in the report
- The global cognitive robotic process automation has been analyzed in the report for major regions including North America, Europe, Asia-Pacific, and rest of the world
- A detailed Porter’s Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the cognitive robotic process automation market
- The study provides detailed analysis of the 15 key players in the cognitive robotic process automation market including Blue Prism, Automation Anywhere, IPsoft, NICE Systems Ltd., UiPath, Verint System Inc., WorkFusion, Pegasystems Inc., Kryon Systems, Kofax, Thoughtonomy Ltd., Redwood Software Inc., Arago and Celaton Ltd., among others, in the Company Profiles section. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.