Industry Outlook and Trend Analysis
The Robotic Process Automation (RPA) Market was worth USD 0.77 billion in 2014 and is expected to reach approximately USD 54.39 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 60.42% during the forecast period. Expanding interest for business process automation by making the use software robots and artificial intelligence are foreseen to be a key pattern for market development over the conjecture time frame. Enhancing centre business process with RPA empowers an association with tools to make its own particular programming and robotize any business procedure. Besides, its capacity to take in the innumerable aptitude while reliably completing recommended capacities and scaling up or down to take care of the demand is foreseen to be a potential driving variable for RPA market development over the estimate time frame.
Service Outlook and Trend Analysis
The digital revolution is advancing the connectivity of the business procedure with cutting edge advancements which incorporate RPA. The professional service is imperative to the association for coordination and advancement and foundation administration and in addition giving them application administration benefits and related consulting. An expanded appropriation of these arrangements among associations is impelling the development of the consulting and professional services.
Organization Outlook and Trend Analysis
In recent past, there has been an upsurge in the consciousness of automation among SME organizations. A huge level of this technology is incorporated into service offerings gave by Business Process Organizations (BPO). Robot orchestration, concentrated robot dashboard administration, and venture level robot arrangements have prompted the surge in RPA selection by BPO suppliers.
Application Outlook and Trend Analysis
RPA offers colossal opportunities in different enterprises by encouraging better administrations and advancing an existing business process. The enterprises, for example, telecom and IT and financial services have been the primary movers and led the pack with robotization in business process, while healthcare and manufacturing firms have as of late expanded footing. Its application in telecom and IT portion was esteemed at USD 65.6 million in 2016, developing at a CAGR of more than 60.0% over the gauge time frame.
Regional Outlook and Trend Analysis
North America ruled the market in 2016, and the trend is foreseen to continue over the estimate time frame. This is due to the increased penetration of automation and process management solutions across the region. Furthermore, the virtual workforce industry is also evolving, with a number of virtual workforce agencies beginning to develop to the U.S. market.
The leading players in the market are Cicero Inc, Automation Anywhere, OpenConnect, Be Informed B.V, Kryon Systems Ltd, Atos, UiPath, IPsoft Inc, Cognizant Technology Solutions, Kofax and Genfour Ltd. These organizations provide a robust solution for automation of back-office processes with cost-effective and efficient software robot platform.
The Robotic Process Automation (RPA) Market is segmented as follows-
Small and medium enterprise
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?