DUBLIN–(BUSINESS WIRE)–The “Robotic Process Automation Market by Component and Region: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
“Robotic Process Automation Market by Component and Region: Global Opportunity Analysis and Industry Forecast, 2020-2027”Tweet this
Robotic process automation (RPA) include the use of specialized computer programs or software with machine learning and artificial intelligence (AI) capabilities to automate and standardize high-volume and repeatable business processes tasks. This technology consists of software robots or bots that works across application user interfaces as well as mimics the actions that a human worker would perform, such as logging in & out of applications, open emails & attachments, scrape data from the web, copying & pasting data, extract structured & semi-structured data from documents, and filling out forms. It helps improve customer service in the front offices and reduces efforts in the back offices.
The rise in innovations in RPA to accommodate changing consumer demands and high adoption of RPA in the BFSI and healthcare sectors are the major factors that drives the growth of the robotic process automation market. In addition to this, the COVID-19 pandemic is disrupting lives of people and affecting performances across all the industries with the rise in demand for automation technology further driving the growth of the market. RPA is being adopted in organizations to mitigate disruption by enabling businesses to maintain customer support, stay connected across the systems and teams, and offer stability in times of uncertainty. However, higher implementation cost of the RPA system due to the integration of high-quality hardware with efficient software control system may hinder the market growth to some extent. On the contrary, digital businesses are expected to create significant revenue growth opportunities for the market.
The robotic process automation market is segmented on the basis of component, deployment model, organization size, industry vertical, and region. On the basis of component, it is categorized into software and services. On the basis of deployment model, it is classified into on-premise and cloud. By organization size, it is bifurcated into large enterprises and small & medium sized enterprises. On the basis of industry vertical, it is categorized into manufacturing, BFSI, healthcare & pharmaceuticals, IT & telecommunications, retail & consumer goods, government & defense, energy & utilities, transportation and logistics, and others (travel & hospitality, oil & gas, education, media & entertainment). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The company profiles of robotic process automation market players included in this report are Automation Anywhere, Inc., Blue Prism, EdgeVerve Systems Limited, International Business Machines Corporation, IPsoft Inc., Kofax Inc., NICE Ltd., Pegasystems Inc., UiPath, and WorkFusion, Inc.
Key Benefits
- This study includes the robotic process automation market analysis, trends, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the market.
- The robotic process automation market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the robotic process automation market.
Market Dynamics
Drivers
- The Rise in Demand for Automation Technology Due to Covid-19
- Growing Innovations in RPA to Accommodate Changing Consumer Demands
- High Adoption of RPA in BFSI and Healthcare Sector
Restraints
- High Implementation Cost
Opportunity
- Digital Businesses is Expected to Create Significant Revenue Growth Opportunities for the Market Growth
Key Market Players
- Automation Anywhere, Inc.
- Blue Prism
- EdgeVerve Systems Limited
- International Business Machines Corporation
- IPsoft Inc.
- Kofax Inc.
- NICE Ltd.
- Pegasystems Inc.
- UiPath
- WorkFusion, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/vc1imu
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