IT Robotic Process Automation Market to Grow Exponentially Due to its Benefits over Manual Processes: Market to Develop at 60% CAGR between 2014 and 2020

Technology is increasingly complementing humans and adding value to several business processes these days. As a result, we are rapidly moving towards an era of ubiquitous human and machine interface where software tools have emerged as the robots for automating repetitive and core processes in business settings. Since these automation tools are not capable of doing the typical variety of physical work that other robots can do, such as sweeping, moving objects around, they are not being immediately recognized as ‘robots’. However, the impact they are making is real.

 

Use of these ‘robots’ for automating business processes by virtue of software tools is termed as robotic process automation. Many IT processes such as availability management, request management, access management, problem management, incident management, and monitoring are being increasingly carried out through the robotic process automation activities. Along with the benefit of added cost savings, robotic process automation helps in making business profiles more agile to serve the varying and evolving needs of customers.

 

Numerous Advantages above Manual Processes

 

By applying principles of artificial intelligence and automation, the field of robotic process automation (RPA) presents unlimited possibilities for running core business processes and creating totally new ones according to evolving customer needs before the IT industry. With robots at work for undertaking logic-related processes, the possibility of executing processes more accurately increases as compared to manually operated processes. 

 

There are many other benefits of robotic process automation in IT, such as its capability of replacing the need for offshore outsourcing, ability to leverage other application software tools without integration, and an enormous cost advantage to the fields of finance and accounting by replacing a majority of the core activities with software tools. A wide ranging set of tangible benefits along with the promise of higher process efficiencies is leading to heavy demand for IT robotic process automation across the globe.

 

Astonishing Growth Prospects 

 

A report by Transparency Market Research states that the global IT robotic automation market will develop at an exponential 60.5% CAGR between 2014 and 2020 and value US$4.98 billion by 2020; the market had a valuation of US$183.1 million in 2013.

 

The report segments the global RPA market based on two key parameters, namely types of offerings in the market (RPA tools and RPA services) and key regional markets.  Based on RPA tools, the market is segmented into model-based application tools and process-based application tools. Based on RPA services, the market is segmented into consulting, integration and development, BPO, and training activities.

 

Based on regional distribution, the IT RPA market is segmented into North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. Owing to the early adoption of new technologies in North America and Europe, a major chunk of market shares was acquired by these two regional markets in 2013. Initiatives taken by RPA tool providers are also leading to increased awareness in these regions, leading to rising adoption of RPA methodologies in business processes. High demand from developing economies around the world and Asia Pacific is also expected to stimulate the overall performance of IT RPA market in the years to come.

 

Key Market Players

 

Prominent companies operating in the global IT RPA market include Be Informed B.V., IPSoft, Inc., Sutherland Global Services, Accenture plc, Appian Corporation, Blue Prism, and Automation Anywhere Inc., Tata Consultancy Services, Hewlett Packard Company, Infosys Limited, and Cognizant Technology Solutions.

 

Browse Full Global IT Robotic Automation Market Report With Complete TOC @ https://www.transparencymarketresearch.com/it-robotic-automation-market.html

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