As artificial intelligence is being increasingly integrated into day to day life and also in various technology forms. Market Research Future which concentrates on market reports linked to the semiconductors and electronics sector amongst others recently made available a report on this sector. The industry for robotic process automation is estimated to develop to revenues worth USD 2,700 Million by the year 2023, while expanding at 29 per cent CAGR between 2017 and 2023.
Adoption of RPA is considered to be one of the biggest trends that is shaping various sectors tremendously in the forecast period. The RPA industry is gaining high levels of growth due to the high levels of efficiency that can be achieved from these systems. The cost effectiveness benefit is also making the sector extremely lucrative to new and existing manufacturers in the sector. Reduced cost benefits is one the main benefits that is attracting investments into this market at a high rate.
A report published by Market Research Future states that the robotic process automation market is expected to grow by USD 2,700 Million approximately by 2023 at 29% CAGR between 2017 and 2023.The factors that are driving growth of this market are high levels of cost saving for businesses. Since robots are utilized for the processes it helps reduce operational costs and also costs arising from human error. Thus a onetime investment on RPA ensures high returns to businesses who are more than eager to integrate these processes in their workflows.
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The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise’s liquidity to take the most effective decisions in terms of strategy execution and designing. The profitable situations accessible in this market are being utilized by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector.
The prominent players in the Robotic Process Automation market are Automation Anywhere (France), Blue Prism (U.K.), Open Span (U.S.), Celaton (U.S.), Exilant (India), Open Connect Systems Incorporated (U.S.), Verint Systems (U.S.), Cognizant (U.S.), Infosys Limited (India), Atos Corporation (France), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the Robotic Process Automation market.
According to MRFR, 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.
May 18, Blue Prism collaborates with identities to offer BFSI streamlined financial transactions.
Blue Prism, a pioneer in robotic process automation software, announced its partnership with identities, a leader in blockchain software solutions to help banks and financial institutions to securely digitize and automate payment and trade transaction processes, providing a detailed audit trial to facilitate the detection of fraudulent activities. Blue Prism’s Digital Workforce tool will help businesses to automate complex work processes.
May 18, Accenture launches Robotic Process Automation Centre of Excellence with Automation Anywhere in Netherlands.
Automation Anywhere, largest enterprise software provider in robotic process automation with the help of Accenture has developed a robotic process automation center in Heerlen, Netherlands. The delivery center will facilitate end-to-end RPA solutions to Accenture clients in this region.
March 18, Blue Prism and Fujitsu announce global partnership to deliver Enterprise Robotic Process Automation.
Blue Prism, a pioneer in robotic process automation software, and Fujitsu a leading provider of IT products and solutions announced to work together combining Fujitsu’s AI with Blue Prism RPA software to create a framework for enterprise clients across various industries in Europe, North America and Japan.
North America region accounts for largest share in robotic process automation market owing to high development in field of technology and presence of developed countries. Europe is one of the prominent player in the market of robotic process automation. Countries such as U.K., Germany and Italy are the major contributors in the market growth due to the rich manufacturing and automotive industry. Asia-Pacific is expected to emerge as fastest growing market during the forecast period. Development of Asian countries and demand for consumer electronic products is forcing the manufacturers to adopt a cost effective technology in the manufacturing process.
Robotic Process Automation Market has been segmented on the basis of process, operations, type and industry.
By Process: Automated Solution, Decision Support and Management Solution, Interaction Solution
By Operations: Spend Analysis, E-Sourcing, E-Procurement, Contract Management, and Supplier Management
By Type: Tools, Services and Travel & Logistics
By Industry: BFSI, Healthcare & Pharmaceuticals, Manufacturing & Logistics, IT & Telecommunication, Retail, Travel, Hospitality, Transportation and others.
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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
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