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Sep 10, 2020 5:32 AM ET

Robotic Process Automation Market Drives Future Change | Nice Systems Ltd., Pegasystems Inc., Automation Anywhere


iCrowd Newswire - Sep 10, 2020

The ‘ Robotic Process Automation market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview; Robotic Process Automation derived key statistics, based on the market status of the manufacturers and is a valuable source of guidance and direction for companies and individuals interested in Robotic Process Automation market size forecast, Get report to understand the structure of the complete fine points (Including Full TOC, List of Tables & Figures, Chart).

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A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

The study reveals that the global Robotic Process Automation (RPA) market is expected to cross $7,000 million by 2024, at a CAGR of nearly 27% during the forecast period. Due to significant growth in technologies such as artificial intelligence (AI) and cognitive learning, the adoption of business automation technologies by enterprises has also increased. This has led to a rapid increase in demand for the virtual workforce to eliminate repetitive human efforts, on the back of which, the global robotic process the automation market is gaining traction.

Rule-based operations: the global market leader

Rule-based robotic process automation operations have been the largest larger contributor to the global robotic process automation market as compared to knowledge-based operation. This operation uses sophisticated computer software that automates rule-based processes, which are statements pre-defined in a software system, without the need for constant supervision of the human workforce.

The rule-based operation has gained significant interest from all sized enterprises as it enables organizations to configure software robots that effectively automate various annual and highly repetitive tasks. It also helps organizations in saving a lot of time by completing an actual human task within a fraction of seconds. The market for rule-based operations is expected to continue its dominance, during the forecast period, as it can be easily integrated within a business ecosystem without disrupting the traditional or legacy business framework

The market to witness the fastest growth in Asia-Pacific during the forecast period

Geographically, North America has been the largest market for robotic process automation, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth in the market can be attributed to factors such as advancement in new technologies, growing digitalization, growth in the automation software industry, and increasing adoption of business process automation solutions by small and medium scale enterprises in the region. Further, due to increasing demand for automation in major industry tasks such as business process outsourcing (BPO), outbound sales, and other back-office work, industries in the region have high tendency to adopt robotic process automation solutions at a rapid scale in the next few years.

Operational Excellence in the Middle-East is driving the global robotic process automation market

One of the foremost driver due to which the Global Robotic Process Automation Market is gaining traction is considered to be its success in increasing operational excellence in the rapidly developing Middle-East and North Africa (MENA). The regions in line with the global trend have rapidly opened up to embark on the RPA transformation wave. Although in its nascent stage, Robotics process automation has already created significant traction in the GCC region, due to high interest shown by the Middle-East CXOs.

Also, the companies in these regions, allowing software bots handle mundane and low-value tasks, employers are finding it easier to upgrade the skill levels of employees thereby retaining more local workforce, At present, corporates in the Financial services and Telecom space have started their RPA journey as early adopters. However, entities in other sectors as Oil & Gas, Healthcare, Retail, Real estate, manufacturing and Government sector are expected to join the bandwagon very soon

On the basis of User size, the market is segmented into Large Enterprise and SMEs. On the basis of Industry, the market is segmented into BFSI, Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals, and Others. BFSI was the largest segment in the global robotic process automation market in 2017.

High competition among key players in the market

The research states that the global robotic process automation market is highly competitive, with players developing new robotic process automation applications. Some of the key players operating in the robotic process automation ecosystem are Nice Systems Ltd., Pegasystems Inc., Automation Anywhere, Blue Prism PLC, Ipsoft, Inc., Celaton Ltd., Redwood Software, Uipath SRL, Verint System Inc., Xerox Corporation, and IBM Corporation.

Most of the major vendors in the global robotic process automation market are actively focused on enhancing their offerings to meet the ongoing demand for advanced business automation solutions. This includes software integrated with artificial intelligence and cognitive learning.

Market Segmentation: Global Robotic Process Automation Market

By Process

By Operation

By Service

By User Size

By Industry

A systematic step framework for How to Tackle The Situation… “MITIGATE” | “SUSTAIN” | “GROW”: Business Strategy Recovery, Scenario and Planning

Key Segments Studied in the Global Robotic Process Automation Market

Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan

In-Depth Qualitative Analyses Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Changing Forecasts in a Time of Crisis: explores key issues, including:

Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

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Key Points Covered in Robotic Process Automation Market Report: COVID 19 Impact Analysis

Chapter 1. Research Objective

1.1. Objective of the Study

1.2. Market Definition

1.3. Process Overview

1.4. Market Scope

1.3.1. Market Segmentation by Process

1.3.2. Market Segmentation by Operation

1.3.3. Market Segmentation by Service

1.3.4. Market Segmentation by User Size

1.3.5. Market Segmentation by Industry

1.5. Analysis Period of the Study

1.6. Data Reporting Unit

1.7. Key Stakeholders

Chapter 2. Research Methodology

2.1. Research Methodology

2.2. Regional Split of Primary and Secondary Research

2.3. Secondary Research

2.4. Primary Research

2.2.1. Breakdown of Primary Research Respondents

2.2.1.1. By Region

2.2.1.2. By Industry Participants

2.3. Market Size Estimation

2.4. Assumptions for the Study

2.5. Market Breakdown and Data Triangulation

Chapter 3. Executive Summary

Chapter 4. Market Introduction

4.1. Introduction

4.1.1. Overview by Product

4.1.2. Overview by Operation

4.1.3. Overview by Service

4.1.4. Overview by User Size

4.1.5. Overview by Industry

4.2. Value Chain Analysis

4.3. Market Dynamics

4.3.1. Trends

4.3.2. Drivers

4.3.2.1 Impact analysis of Drivers

4.3.3. Restraints

4.3.3.1 Impact Analysis of Restraints

4.3.4. Opportunities

4.4. Porter’s Five Forces Analysis

4.4.1. Bargaining Power of Supplier

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitute

4.4.5. Intensity of Rivalry

Chapter 5. Market Size and Forecast by Process

Chapter 6. Market Size and Forecast by Operations

Chapter 7. Market Size and Forecast by Service

Chapter 8. Market Size and Forecast by User Size

Chapter 9. Market Size and Forecast by Industry

Chapter 10. Market Size and Forecast by Geography

10.1. North America

10.2. Europe

10.3. Asia-Pacific

10.4. Middle-East & Africa

10.5. Latin America

Chapter 11. Market Competitiveness

11.1. Market Landscape

11.2. Market Player Analysis

11.3. Recent Activities of Major Players

11.3.1. Partnerships

11.3.2. Product Launch

11.3.3. Others

Chapter 12. Company Profiles

12.1. Nice Systems Limited

12.2. Pegasystems Inc.

12.3. Automation Anywhere Inc.

12.4. Blue Prism Limited

12.5. Celaton Limited

12.6. Redwood Software Inc.

12.7. Ipsoft Inc.

12.8. UiPath

12.9. Zerox Corporation

12.10. IBM Corporation

Chapter 13. Appendix

Continued….

……..and view more in complete table of Contents

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