Published: May, 2018
The global IT robotic automation market depicts the presence of a highly competitive vendor landscape, owing to several players offering innovative solutions at similar prices, says Transparency Market Research on the basis of a recently published report. Currently, numerous multinational businesses are attempting to reduce operational costs in this market. Most of these companies are expected to depict outstanding performances in future owing to widespread advancements occurring in the field of IT robotics and automation.
Introduction of advanced products is a key scheme implemented by businesses operating in this market. Participating in mergers & acquisition, collaborations, and facilitating product differentiation also are a few other strategies employed key players in the market. The competition is expected to become highly fierce with new players entering this field on a regular basis. Tata Consultancy Services Limited., Automation Anywhere, Inc., Atos SE, Capgemini, Infosys Limited, Be Informed B.V., UiPath Srl, Cognizant Technology Solutions Corp., Blue Prism, Sutherland Global Services, Inc., and IPSoft, Inc., are prominent companies working in the global IT robotic automation market.
The global market for IT robotic automation is anticipated to reach a magnanimous valuation of US$16,884.0 mn by the end of 2024. The market is expected to exhibit a highly meteoric CAGR of 47.1% over the forecast period of 2016 to 2024.
Ability to Provide High Efficiency Boosts Market’s Growth
High efficiency provide by robotic automation processes is making various consumers prefer using these services, consequently boosting the global IT robotic automation market. Widespread advances occurring in the overall IT automation industry has also been propelling the global IT robotic automation market substantially.
A large demand from industrial equipment and other machine manufacturers to facilitate fast production rates by maintaining high quality of products has made them prefer IT robotic automation processes for the same. A rising utilization of robotic solutions in the finance and accounting sector has also caused the IT robotic automation market to depict a large-scale preference by manufacturing businesses. Lastly, the market is expected to depict a handsome revenue during the forthcoming years, owing to exciting opportunities being offered by implementation of robotic solutions in various sectors.
Lack of Skilled Staff Hampers IT Robotic Automation Market’s Expansion
However, high costs required to deploy IT robotic systems, coupled with substantial expenses associated with servicing of these systems are prime restraints affecting the global IT robotic automation market. Lack of quality IT automation services in remote and underdeveloped regions has also caused the market to depict a slow growth, thereby hindering the chances of attracting a handsome revenue. A shortage of skilled labor in such regions is also leading towards the manufacturers prefer using age-old manual processes. Nevertheless, many manufacturers in this market are striving hard to come up with ground-breaking innovations, which can reverse the effects of the restraints substantially.
This review is based TMR’s report titled, “IT Robotic Automation Market (Solution - Tools and Services; Tools - Model-based Application Tools and Process-based Application Tools; Service - Professional (Consulting, Integration and Development, and BPO) and Training) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
- Introduction of advanced products is a key scheme implemented by businesses operating in this market.
- A large demand from industrial equipment and other machine manufacturers to facilitate fast production rates by maintaining high quality of products has made them prefer IT robotic automation processes for the same.
The global robotic automation market has been segmented as follows:
- Model Based
- Process Based
- Integration and Development
- North America
- Asia Pacific
- Middle East and Africa
- South America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453