The global robotic process automation in information technology market is set to project a CAGR of 25.08% during the forecast period, 2021-2028. The vast benefits of robotic process automation (RPA), increasing adoption of RPA among SMEs, growing demand for voice recognition applications, and thriving BPO industry, drive market growth.
In robotic process automation (RPA), computer programming imitates certain human tasks and processes in the interface of the real and digital world. There is high adoption of RPA among SMEs due to their vast range of benefits. It is a combined solution for organizations, easing their tasks. RPA connects the business together, providing employees with more time to prioritize tasks like marketing and sales. The growing competitive rivalry makes it necessary for SMEs to adopt the latest technologies. The benefits of automation for SMEs include better customer relationships, single solution for all, fewer errors and improved confidence, and swift payment. Such factors drive market growth. However, the increasing risk of data security, especially in cloud-deployed entities, hinders the market growth.
The global robotic process automation in information technology market growth assessment includes the analysis of Asia-Pacific, North America, Europe, and Rest of World. North America is evaluated to be the dominating region by 2028 in terms of revenue share. The market prospects of the region benefit from the presence of prominent market players and growing investment in RPA.
Some of the key competitive strategies by vendors in the market include new service rollouts, partnerships with industry participants, and acquisitions, contributing to the intense competitive rivalry. Nice Systems Ltd, Amelia, Automation Anywhere, Blue Prism, Appian Corporation, etc., are among the key players in the market.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
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- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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