PUNE, India, Jan. 06, 2020 (GLOBE NEWSWIRE) --
Market Highlights
The latest report by Market Research Future (MRFR) asserts that the global robotic process automation market is slated to acquire a substantial market valuation of USD 27 billion at a healthy 29% CAGR over the review period (2017 to 2023).
Drivers and Restraints
The factors that are providing stimulus to the RPA market growth are ease in business processes offered by RPA, and the integration of these tools in conventional business process industries.
On the other hand, factors that are likely to limit the market growth of RPA are complicated pricing models while implementation and client management, along with the risk of data security that hinders the employment of RPA in the finance industry. Furthermore, the reduced potential of RPA for knowledge-based business processes is also estimated to rise as a limitation for robotic process automation market growth over the review period.
Segmentation:
The robotic process automation market segmentation has been done on the basis of operations, process, type, and industry.
Based on the process, the market has been segmented into decision support & management solution, automated solution, and interaction solution, among others.
Based on the operations, the market has been segmented into contract management, e-sourcing, spend analysis, e-procurement, and supplier management, among others.
Based on the type, the global RPA market has been segmented into services, tools, and travel & logistics.
Based on the industry, the market has been segmented into healthcare & pharmaceuticals, BFSI, manufacturing & logistics, IT & telecommunication, travel, retail, hospitality, and transportation, among others.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2209
Regional Analysis
The geographical analysis of the global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
North America is slated to dominate the robotic process automation market with the largest market share. Considerable capital input towards technological development, the presence of the major market players that can offer cutting-edge technologies and increasing deployment of these solutions in some of the expanding industries including healthcare, media and entertainment, banking and finance, and IT & telecommunication are some of the factors driving the market growth in the region.
The availability of established infrastructure is also expected to contribute towards market growth since it enables faster employment of advanced technologies. The developed countries such as the U.S. and Canada are leading the North America market due to the growing technological advancements and the uptake of robotic process automation solutions in these countries. Continuing with these growth trends, the region is expected to retain its dominance in the global market.
The Europe market holds the second-largest market share for the robotic process automation owing to the demand from the various industrial sectors. The improving economic dynamics in the region are too contributing to the market growth considerably. Moreover, the augmented adoption of RPA tools fuels the expansion of the regional market.
The Asia Pacific market for robotic process automation is also slated to witness remarkable growth and is likely to emerge as the fastest-growing regional market for robotic process automation. Influential factors such as growing urbanization, expansion of the healthcare and entertainment industries, along with the improving economic scenario in China and India, are likely to drive the RPA market growth over the review period.
Competitive Analysis
The prominent market players identified by MRFR in the global robotic process automation market are Celaton Ltd (U.K.), Automation Anywhere (U.S.), Pegasystems (U.S.), Nice Systems Ltd. (Israel), Redwood Software (U.S.), Blue Prism (U.K.), Verint (U.S.), Uipath (Romania), Ipsoft (U.S.), Xerox Corporation (U.S.), among others.
Industry News
December 2019: Microsoft announced changes to Microsoft Flow, its cloud-based automation service. The service was re-branded to Power Automate, which better aligned with other Power Platform services, comprising Power Bi, Power Apps, and a new bot service called Power Virtual Agents. Beyond this factor, Microsoft expanded on the skills of the traditional Microsoft Flow service by integration Robotic Process Automation (RPA) abilities.
December 2019: Verint Systems introduced a new analytics solution, Robotic Process Automation Discovery, to assist organizations in accelerating time-to-value in intelligent automation initiatives.
December 2019: EPSoft Technologies, a leading market player for smart software solutions, declared the availability of its enterprise automation platform, which integrated robotic process automation with big data management solutions to surge efficiency and employee satisfaction in corporations across the business field.
December 2019: US-based CUSO PSCU announced the adoption of desktop automation in all its contact centers through a partnership with Jacada, a provider of Autonomous CX solutions, which offered robotic process automation tools for customer service.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/robotic-process-automation-market-2209
Robotic Process Automation Market, By Process (Automated Solution, Decision Support and Management Solution), By Operations (Rule Based), By Type (Tools), By Industry (IT & Telecommunication, Manufacturing & Logistics) - Global Forecast 2023
Ph. No: +91-8050334817
Email: Ehtesham.peerzade@marketresearchfuture.in