Industry Background:
Robotic Process Automation (RPA) is a software which uses artificial intelligence and machine learning capabilities to handle a high volume, repeatable tasks that previously required humans to perform. With the use of this software, it provides the organization with the ability to reduce staff cost and human error.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Blue Prism (United States), Kofax Inc. (United States), IBM (United States), Open Span (United States), Celaton (England), Open Connect Systems Incorporated (United States), Ipsoft (United States), Nice Systems (Isreal), Pegasystems (United System), Redwood Software (Netherlands), Uipath (United States), Verint Systems (United States), Cognizant (United States), Automation Anywhere (United States) and Infosys Limited (India) |
CAGR | % |
This growth is primarily driven by Ease in Business Process with Robotic Process Automation in various Industries, Advantage Associated With Robotic Process Automation as Cost Reduction with Improved Service Delivery and Better Management and Increasing Focus on Automation in the BPO Industry.
Globally, a noticeable market trend is evident Advancement of Technology in the Robotic Process Automation. The Robotics & Automation sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Blue Prism (United States), Kofax Inc. (United States), IBM (United States), Open Span (United States), Celaton (England), Open Connect Systems Incorporated (United States), Ipsoft (United States), Nice Systems (Isreal), Pegasystems (United System), Redwood Software (Netherlands), Uipath (United States), Verint Systems (United States), Cognizant (United States), Automation Anywhere (United States) and Infosys Limited (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
June 2018 - UiPath announced its partnership with Humley, a cognitive assistant platform. This partnership is intended to provide an AI assistant chat solution to UiPath’s customers. Humley would enable a virtual assistant to support RPA management and build voice or chat user interfaces, which would help UiPath’s customers to innovate. Through this partnership, UiPath is creating a robust ecosystem of partners to grow as an RPA provider, with leading partner technologies.
In Jan 2020, OnQ, an industry-leading, healthcare RCM solutions company, launched Robotic Process Automation (RPA) products and services. OnQ’s scalable RPA solutions have improved the quality, created efficiencies, and simplified the processes in medical billing.
Market Drivers
- Ease in Business Process with Robotic Process Automation in various Industries
- Advantage Associated With Robotic Process Automation as Cost Reduction with Improved Service Delivery and Better Management
- Increasing Focus on Automation in the BPO Industry
Market Trend
- Advancement of Technology in the Robotic Process Automation
Restraints
- Data Insecurity Hindering the Market For Implementation of Robotic Process Automation
Opportunities
Technology Advancements and Improvements With Artificial Intelligence Technologies
Challenges
Lack of Real-Time Visibility As A Standalone Technology
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Robotic Process Automation Study Sheds Light on
The Robotic Process Automation Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Robotic Process Automation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Robotic Process Automation industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.