Dublin, March 20, 2020 (GLOBE NEWSWIRE) -- The "Global Robotic Process Automation Market, by Component, by Organization Size, by Deployment Type, by End User, by Region, Industry Analysis and Forecast, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Robotic Process Automation Market size is expected to reach $7.2 billion by 2025, rising at a market growth of 32.6% CAGR during the forecast period.
An increased demand for business process automation (BPA) is expected to be the main growth driver through the use of Artificial Intelligence (AI) and software robotics. Few of these innovations are now diminishing as companies around the globe are shifting to a dynamic digital environment. Nonetheless, robotic process automation (RPA) is expected to develop and grow at the highest growth rate of the over the forecast period. For faster deployment, execution, and scaling, modern organizations need robotic process automation.
Business functions such as outsourcing of contact centers, banking, financial services & insurance (BFSI), outsourcing of business processes (BPO), procurement outsourcing, and human resources outsourcing (HRO) are experiencing exponential growth. Due to its ability to perform a range of tasks like account opening and closing, completing quotation and proposal requests, IT infrastructure testing and tracking, and handling queries in the billing and customer service departments, there is a huge market demand for robotic process automation across different business verticals.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, Genpact Limited, NICE Ltd., and NTT Data Corporation are some of the forerunners in the Robotic Process Automation Market. Companies such as Blue Prism Group PLC, Pegasystems, Inc., Verint Systems, Inc., and IPsoft, Inc., Kofax, Inc., Automation Anywhere, Inc., and UiPath, Inc. are some of the key innovators in Robotic Process Automation Market.
Partnerships, Collaborations, and Agreements
- Jan-2020: Kofax entered into partnership with Espire Infolabs, an IT services provider. The partnership was aimed at transforming end-to-end business operations.
- Nov-2019: UiPath came into partnership with Konica Minolta, a provider of managed services and integrated solutions. The partnership was aimed at bringing robotic process automation to the customers in Australia for enhanced performance and a new level of efficiency to generate more revenues and improving customer experiences.
- Sep-2019: Blue Prism signed partnership agreement with Hyland, a leader in the content services platform. The partnership was aimed at selling Blue Prism's intelligent and connected-RPA platform.
- Jul-2019: UiPath partnered with IST Networks, a provider of customer experience (CX) technology solutions. Under the partnership, the companies is expected to provide RPA services in the Middle East and allow the IST clients in automating the key business process across the organization.
- May-2019: UiPath collaborated with SAP, a software company to help the users of SAP solutions in speeding up their digital transformation, ease migrations, and automate critical business operations to SAP S/4HANA.
- Mar-2019: Automation Anywhere, Inc. came into partnership with BMC Software, a leader in IT solutions. The partnership extended BMC Helix cognitive automation's capabilities for including robotic process automation across service desk processes. The partnership enabled the companies to help their mutual customers in the digitization of their business operations.
- Mar-2019: Automation Anywhere, Inc. entered into partnership with Tech Data, a distribution company specialized in IT products and services. Under this partnership, the latter company became the first U.S. solution aggregator for providing the former company's robotic process automation (RPA) solutions. This helped Tech Data's customers in delivering world-class, AI-enabled business process automation solutions, which increases the human workforce with a digital one.
- Mar-2019: NICE extended its partnership with ABBYY, a software company. Under this expansion, ABBYY's FlexiCapture Distributed integrated with NEVA and the Nice unattended robots. This integration was aimed at bringing full digitization to both back and front office processes, allowing the organizations in achieving their digital transformation goals more comprehensively.
- Mar-2019: NICE Robotic Process Automation (RPA) announced a partnership with CallVU, a digital customer engagement platform. The companies were focused on providing visually enriched IVR (Interactive Voice Response) and digital customer engagement at the front end with smart automation of complex back end processes.
- Mar-2019: Blue Prism partnered with EY, a professional services company. In this partnership, EY was aimed at offering Blue Prism's RPA services across the country to the clients. The partnership marked the expansion of the company's business in India.
Acquisition and Mergers
- Aug-2019: Automation Anywhere, Inc. acquired Klevops, a Paris-based company. The acquisition provided the managers with the capability to easily organize the workstreams across bots and a team of employees and allows the customers to automate more processes than earlier, with the same level of security, central governance, and analytics capability.
- May-2019: Kofax completed the acquisition of Top Image Systems Ltd., an innovator of on-premise and cloud-based applications. The acquisition strengthened and enhanced Kofax's Digital Capture and SaaS-based capabilities.
Product Launches and Product Expansions
- Feb-2020: NICE released NEVA Unlimited, an all-inclusive automation package. This package has been built for driving successful automation implementations. The companies that purchase NEVA is expected to now get complimentary unattended automation robots.
- Dec-2019: Verint introduced Robotic Process Automation Discovery, a new analytics solution. This solution was designed for helping the organizations in accelerating their time-to-value intelligent automation initiatives.
- Oct-2019: UiPath made enhancements to its next-generation of the Robotic Process Automation platform. The platform supports end-to-end automation processes and AI capabilities and helps the company in scaling their automation.
- Oct-2019: Automation Anywhere, Inc. launched Automation Anywhere Enterprise A2019, world's first purely web-based, cloud-native Digital Workforce platform. The platform provides RPA-as-a-service to any business or any user through any delivery channel anywhere in the world. This platform is available on-premise, and in any public, private or hybrid cloud.
- Jul-2019: NICE unveiled Robotic Process Automation version 7.1. This version was aimed at facilitating comprehensive and rapid automation development and ensuring business sustainability. It enables efficient robotic and human workforce management.
- Jan-2019: Automation Anywhere, Inc. introduced the industry's first mobile app for managing RPA bots. These bots have been made through using an intelligent RPA platform. This app is expected to expand the reach of RPA and boost the digital-first enterprise's development.
- Jan-2019: Blue Prism unveiled connected-RPA vision to transform the market. This solution provides power to the employees to design and develop new disruptive services.
- Jan-2019: IPsoft launched 1Desk's 1RPA, the world's first Robotic Process Automation (RPA) solution powered by conversational AI. With this solution, businesses can create automation at scale easily at a lower cost than earlier.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Robotic Process Automation Market, by Component
1.4.2 Global Robotic Process Automation Market, by Deployment Type
1.4.3 Global Robotic Process Automation Market, by Organization Size
1.4.4 Global Robotic Process Automation Market, by End-user
1.4.5 Global Robotic Process Automation Market, by Geography
1.5 Methodology for the Research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2015-2019)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2020-Jan - 2016-Jun) Leading Players
Chapter 4. Global Robotic Process Automation Market by Organization Size
4.1 Global Robotic Process Automation Large Enterprises Market by Region
4.2 Global Robotic Process Automation Small & Medium Enterprises Market by Region
Chapter 5. Global Robotic Process Automation Market by End-user
5.1 Global Robotic Process Automation BFSI Market by Region
5.2 Global Robotic Process Automation IT & Telecom Market by Region
5.3 Global Robotic Process Automation Healthcare & Life Sciences Market by Region
5.4 Global Robotic Process Automation Retail Market by Region
5.5 Global Robotic Process Automation Manufacturing Market by Region
5.6 Global Other End User Robotic Process Automation Market by Region
Chapter 6. Global Robotic Process Automation Market by Deployment Type
6.1 Global On-premise Robotic Process Automation Market by Region
6.2 Global Cloud Robotic Process Automation Market by Region
Chapter 7. Global Robotic Process Automation Market by Component
7.1 Global Robotic Process Automation Services Market by Region
7.2 Global Robotic Process Automation Market by Services Type
7.2.1 Global Consulting Robotic Process Automation Market by Region
7.2.2 Global Implementation Robotic Process Automation Market by Region
7.2.3 Global Others Robotic Process Automation Market by Region
7.3 Global Robotic Process Automation Software Market by Region
Chapter 8. Global Robotic Process Automation Market by Region
8.1 North America Robotic Process Automation Market
8.2 Europe Robotic Process Automation Market
8.3 Asia-Pacific Robotic Process Automation Market
8.4 LAMEA Robotic Process Automation Market
Chapter 9. Company Profiles
9.1 Verint Systems, Inc.
9.2 NICE Ltd.
9.3 Blue Prism Group PLC
9.4 Pegasystems, Inc.
9.5 Genpact Limited
9.6 NTT Data Corporation (NTT Advanced Technology Corporation)
9.7 Automation Anywhere, Inc.
9.8 UiPath, Inc.
9.9 Kofax, Inc. (Thoma Bravo LLC)
9.10 IPsoft, Inc.
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