Report: Global IT robotic automation market to reach US$1.1B by 2026
By Transparency Market Research
By Transparency Market Research
August 7, 2018 – According to a new market report published by Transparency Market Research, the global IT robotic automation market is expected to reach a value of USD 1.1 billion by 2026.
The market is projected to expand at a CAGR of 28.1 per cent during the forecast period from 2018 to 2026. IT robotic automation is used to improve processing speed and accuracy and to reduce cost.
The software robots are used to interact with existing computing systems to execute applications and process transactions. Robotic automation has emerged as a strong alternative to outsourcing, especially offshore outsourcing. Some of the benefits of robotic automation are cost benefits and increased process efficiency over manual processes, which are contributing substantially to the growth of the IT robotic automation market worldwide. IT enterprises are leveraging robotic automation to facilitate self-service business.
IT robotic automation is a go-to solution for organizations to benefit from process automation and advanced analytics in operations and processes at economical prices, which was not possible with earlier automation approaches. Furthermore, software robots are programmed to be used with data-driven and rule-based processes. This offers a capability that can be leveraged irrespective of industry and application, in a cost-effective manner. IT robotic automation works around the clock executing required processes. Robotic automation has modernized the means of managing various business processes, IT management and support processes, workflow processes, and back-office work.
IT robotic automation market: scope of the report
The IT robotic automation market is categorized by solutions (tools and services), by tools (model-based and process-based), by services (professional and training), and by professional (consulting, integration and development, and BPO). The cost and time benefits of IT robotic automation over traditional working methods is one of the major factors expected to aid the adoption of IT robotic automation worldwide. Also, ever-increasing adoption of cloud-based services among enterprises is another factor supporting the generation of new opportunities. Thus, the market is expected to witness significant growth in the coming years.
North America accounted for the largest share in terms of adoption of IT robotic automation in 2017. Furthermore, rapid developments in computing technologies indicate that the region is anticipated to observe significant growth in the coming years. Europe is likely to witness healthy growth in terms of the demand for IT robotic automation, considering the increasing preference for robotics. Asia-Pacific is anticipated to be a high potential market for IT robotic process automation during the forecast period from 2018 to 2026. Increasing offshore outsourcing and a dynamic IT industry is likely to favor the IT robotic process automation market in Middle East and Africa. South America is also expected to generate opportunities for robotic process automation in the coming years due to increasing emphasis by enterprises and governments in the region to improve quality and productivity.
The research study includes profiles of leading companies operating in the global IT robotic automation market. Some of the key players profiled in the report include Blue Prism, Be Informed B.V., Appian, IPsoft, Inc., Tata Consultancy Services Limited., Infosys Limited, Cognizant Technology Solutions Corp., Atos SE, Capgemini, Genfour, Genpact Ltd., Automation Anywhere, Inc., Sutherland Global Services, Inc., and UiPath SRL.
Download the full report here.