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Global IT Robotic Automation Market: Advent of Robotic Automation as Alternative to Offshore Outsourcing to Offer Lucrative Opportunities, Says TMR

Posted on Nov 04, 2016

Currently, the global market for IT robotic automation is in its budding phase and only a few players, such as Blue Prism, IPSoft Inc., Cognizant Technology Solutions, Infosys Ltd., Tata Consultancy Services, and Accenture plc, are driving the overall market, finds a report by Transparency Market Research (TMR). 

These companies mainly concentrate on providing end-to-end services for robotic automation in various IT applications. Looking forward, their focus is likely to shift towards product innovation in a bid to gain an edge over competitors, states the report.

TMR estimates the global market for IT robotic automation, which offered an opportunity worth US$0.47 bn in 2015, to expand at an exponential CAGR of 60.50% during the period from 2014 to 2020 and reach US$4.9 bn by the end of the forecast period. IT robotic automatic services have been exhibiting a robust demand among consumers across the world. By 2020, this segment is likely to cross US$3.3 bn in term of revenue.

North America to Remain Dominant in Global IT Robotic Automation Market

In this research report, the worldwide market for IT robotic automation market has also been evaluated on the basis of its regional spread. According to the study, Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa are the key regional markets for IT robotic automation across the world.

Thanks to the fast uptake of technology and significant initiatives taken by market players to create awareness regarding robotic automation tools and services, North America has emerged as the leading contributor to the global market. The scenario is expected to remain more or less same in the forthcoming years with the regional market increasing at a CAGR of 58.90% between 2014 and 2020 in terms of revenue. Asia Pacific and Latin America will also witness a strong rise in the demand for IT robotic automation tools and services, states the market study.

Increasing Awareness Regarding Benefits of RPA among BPO Service Providers to Drive Growth

“The advent of robotic automation in IT as an alternative to offshore outsourcing is having the most prominent impact on the global demand for IT robotic automation tools and services,” says the author of this study. With the help of robotic process automation (RPA), business process outsourcing (BPO) service providers can create a virtual back office comprising a number of robotic FTE’s that perform manual, rule-based back office clerical processes.

RPA also assists BPOs in achieving high efficiency at a nominal cost. The rising awareness among BPO service vendors pertaining to the benefits offered by robotic automation is fueling its demand substantially all over the world, notes the study.

Existing Contracts of BPOs to Hamper Adoption of Robotic Automation Tools and Services

While the global market for IT robotic automation looks thriving currently, the existing contracts of BPOs may limit the adoption of IT robotic automation tools and services in the forthcoming years. The growing concerns over the security of the technology due to the access of individual end user over a number of automated processes will also hamper the growth of the worldwide IT robotic automated market over the next few years, states the report.

The study presented here is based on a report by Transparency Market Research (TMR) titled “IT Robotic Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

The global IT robotic automation market is segmented into:

By Type

  • Tools
    • Model-based Application Tools
    • Process-based Application Tools
  • Services
    • Professional
    • Consulting
    • Integration and Development
    • Application Management
    • Infrastructure Management
    • BPO
    • Application Management
    • Infrastructure Management
    • Training

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Latin America

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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