Robotic Process Automation Market Share and Opportunity
According to recently published report on “Global Robotic Process Automation market Size Analysis and Industry Opportunity, 2018-2028” the market is expected to surpass is expected to exceed USD 5.1 billion by 2025 – registering a CAGR of 30% during the forecast period.
High level of industrial automation along with rise in Internet of Things has led to wide scale adoption of robotic process automation across various industry verticals (RPA). RPA automates most of the business functionaries – as a result, lowers down the operational cost and increases the return on investment (ROI). As per the estimates, most companies reported process time to reduce by almost 70%. In addition to these, the robotic process automation market growth is witnessing upward trend as it also leads to improving workforce management.
Currently, its share in Business Process Management stands is low, however, has witnessed impressive growth of 55% between 2012 and 2017. As such, robotic process market is expected to account for nearly 35% of overall BPM by 2025.
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Bekryl’s market research report, Global Robotic Process Automation Market Size Analysis and Industry Opportunity, finds North America to account for 58% of global sales in 2018. Higher spending on R&D along with high level of automation has created favorable business environment in the region. It is expected to continue its dominance before losing market share to developing regions by the end of forecast period. Though the industry will grow at an impressive rate, resistance from internal IT companies along with unclear model on Total Cost of Ownership (TCO) are key challenges faced in the region. Asia Pacific is expected to register fastest growth with China dominating the regional sales.
Some key trends from the global Robotic Process Automation market:
Trend#1: Large Scale Enterprises to Dominate the Global Robotic Process Automation Market
Much of the robotic process automation will take place in large scale enterprises. High capital influx along with in-built IT infrastructure are key factors driving the installations of such software in organization. These leading organizations spends nearly 250X higher amount on automation than that by mid-scale companies.
Trend#2: BSFI and IT to collectively account for 52% of Global Installation in 2018
High security features, lower turnaround time along with faster technology adoption has led to wide scale RPA demand from BFSI and IT sector. RPA eases the IT infrastructure setup in BFSI sector and prevents fraudulent activities – thereby ensuring high level of security, better customer engagement and good profit margins. The system bridges the gap between BPM and ERM systems. Each year, the banking sector spends nearly 18% on IT infrastructure and security maintenance. Installation of RPA will help minimize such spending to large extent.
Some key global Robotic Process Automation Market Players are Be Informed B.V., Blue Prism Group Plc, Automation Anywhere Inc., Jacada Inc., and OpenSpan are key companies operating in the industry.
Research Scope and Brief Research Methodology:
Robotic Process Automation Market, By Application:
- IT services
Robotic Process Automation Market, By Organization Size:
- Large Scale Enterprises
- Mid-Scale Enterprises
- Small Scale Enterprises
Robotic Process Automation Market, By Automation:
- Assisted Automation
- Unassisted Automation
Robotic Process Automation Market, By Tools
- Model Based
- Process Based
Robotic Process Automation Market, By Service
- Training and Consulting