(RPA) Robotic Process Automation Market | IT Applications to Reach USD 5 Billion by 2024

Robotic process automation market has been experiencing robust changes since the past decade, given that RPA software is extensively used for business process outsourcing and business process management. In addition, RPA tools have the strong capability to increase business process efficiency without having to implement any fundamental process change. The ability of the RPA software to effectuate smarter processes as compared to conventional IT applications is certain to augment robotics process automation industry, slated to cross USD 5 billion by 2024.

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Robotic process automation market has been gaining remarkable popularity lately, subject to the fact that automation has become important component in various enterprises across the globe. It has been observed that many companies have been adopting RPA technology with an aim to reduce the capital cost of the products and modernize business operations. The rapidly increasing use of this technology in various sectors is a vital factor that is expected to stimulate robotic process automation industry share. More importantly, this technology is increasingly being deployed in the medical and oil & gas sectors, which are touted to be two of the most dynamic markets of today. Companies have lately been following practices such as centralized business plan, training, and periodic product developments, that depicts their apparent urgency to deploy consistent automation in their business methodologies. This change of tactics is likely to have a positive impetus on robotic process automation market, which, as per reports, collected a revenue of USD 600 million in 2016.

The robotic process automation market has been witnessing a vast number of strategic M&As in recent years. These proactive initiatives have profitably leveraged the robotic process automation industry growth, as per experts. Citing an instance, Accenture PLC, an IT service provider, has acquired Genfour Limited, an information management service company and a global leader in the RPA & AI delivery sector, with an aim to consolidate its position in the overall robotic process automation market. Through this deal, Accenture aims to develop and apply machine learning across complicated IT processes to automate them and improve the overall operational effectiveness.  The need to automate the IT services through machine learning, big data analytics, and artificial intelligence will thus impel the overall RPA market share in the ensuing years.

Today, new developments are observed across robotic process automation industry with Prodapt Solutions Private Limited, a software firm based in India, introducing Telebots™, a leading robotic process automation schema for digital & communications service providers. Telebots™ provides a fast and reasonable way of handling the issues faced by the service providers while automating the business processes.

Robotic process automation market is forecast to experience escalated growth across various regions, with Europe and Australia contributing prominently towards the business expansion. While the shortage of workforce and a huge presence of manufacturing & logistics companies are predicted to impel Europe robotic process automation industry, the mounting demand for support staff to process customer requests across the banking, telecommunications, insurance, and government sectors will spur the growth of Australia RPA industry.

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Major firms such as Blue Prism, Automation Anywhere, Verint Systems, Pegasystems, and UiPath are likely to make vital contributions towards robotic process automation market in the forthcoming years. With technology slated to occupy the center space of the future, robotic process automation industry will grow at a rate of more than 20% over the coming seven years.

Some Points From Table Of Content: –

Chapter 4   Robotic Process Automation Market, By Service

4.1  Global RPA market share by service, 2016 & 2024

4.2  Training and consulting

4.2.1    Market estimates and forecast, 2013 – 2024

4.2.2 Market estimates and forecast, by region, 2013 – 2024

4.3  Professional service

4.3.1    Market estimates and forecast, 2013 – 2024

4.3.2    Market estimates and forecast, by region, 2013 – 2024

Chapter 5   Robotic Process Automation Market, By Tools

5.1  Global RPA market share by tools, 2016 & 2024

5.2  Model-based

5.2.1    Market estimates and forecast, 2013 – 2024

5.2.2 Market estimates and forecast, by region, 2013 – 2024

5.3  Process-based

5.3.1    Market estimates and forecast, 2013 – 2024

5.3.2    Market estimates and forecast, by region, 2013 – 2024

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