According to the study, healthcare and pharmaceutical industry is expected to grow at the highest CAGR. The study indicates banking and financial industry accounts for large adoption of RPA. In robotic process automation market by type segment, tools acquire for largest market share. High efficiency with low cost are few of the major factors driving the market of RPA. Whereas complex pricing model while implementation and dealing with clients is one of major challenge to the market.
Robotic process automation is an application technology where software with capabilities of artificial intelligence and machine learning are used for handling high volume, repeatable tasks. RPA allows employees to configure and program a computer software or a robot to interpret exiting application in the organization for manipulating data, processing transactions and communicating with digital systems. The RPA is similar to traditional IT automation but the major difference between these technologies is, RPA is capable of learning itself and adaptive to changing circumstances which a traditional IT automation system lacks.
Robotic process Automation Market is segmented on the basis of operations that includes rule based and knowledge based operations. The knowledge based operations offers a new framework for efficient decision making process in logistics and warehouse industries. It enable users by offering interactive monitoring and optimization in the flow of logistics activities using hybrid techniques.
The robotic process automation market is expected to grow at approximately USD 2,700 Million by 2023, at 29% of CAGR between 2017 and 2023.
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Major Key Players:
- Automation Anywhere (U.S.)
- Blue Prism (U.K.)
- Celaton Ltd (U.K.)
- Ipsoft (U.S.)
- Nice Systems Ltd. (Israel)
- Pegasystems (U.S.)
- Redwood Software (U.S.)
- Uipath (Romania)
- Verint (U.S.)
- Xerox Corporation (U.S.)
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Robotic Process Automation Market -Forecast to 2023”.
Market Research Analysis:
By regional analysis, the market consists of North America, Europe, Asia-Pacific and Rest of the World. North America region is dominating the robotics process automation market. Asia-Pacific is few of the prominent players in the market owing to increase utilization of robotics automation process in healthcare & pharmaceuticals, retail, BFSI, IT & telecommunication industry among others. The robotics automation process witnessed its implementation in manufacturing industry.
Europe region is expected to be one of the prominent players owing to presence of RPA technology in rich manufacturing and logistics sector. Also economies from countries such as Germany, Russia, Spain and Denmark is having high adoption of RFA technology in various industrial sector.
Robotic Process Automation Market (MRFR) Analysis:
By operations segment it consists of rule based and knowledge based operations. Rule based operations accounts for high market share as compare to knowledge based. Rule based operation is used in enterprises for repetitive administration task in the framework of constant business behavior.
By region, MRFR analysis shows that, North America region accounts for highest market share owing to presence of key market players from the region. In US region, RFA implementation in BFSI sector is increasing as it improves business process efficiency and competency. Due to its greater data processing and work flow management solution, RPA market is having higher demand in BFSI domain.
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- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Supply Chain & Logistics Organizations
- Original Equipment Manufacturers
- Healthcare & Pharmaceutical Industry
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Software
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
List of Tables
Table 1 Robotic Process Automation Market, By Process
Table 2 Robotic Process Automation Market, By Operations
Table 3 Robotic Process Automation Market, By Type
List of Figures
Figure 1 Research Type
Figure 2 Robotic Process Automation Market: By Process (%)
Figure 3 Robotic Process Automation Market: By Operations (%)
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