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Robotic Process Automation Market Outlook by Revenue Analysis and Trends Forecast to 2024

Author : Ronak Bora | Published Date : 2020-08-27 

Robotic process automation market has a huge potential to transform the way organizations operate and support various business processes. Surging eminence of BPM solutions led to rising need of automating the operations by small & medium businesses to stay ahead of the competition. Factors such as capability of the technology to offer increased control over the processes and perform high-volume routine tasks without human intervention, contributes significantly to the RPA market growth. Rising awareness associated with the benefits of the solutions among various organizations such as high level of accuracy and efficiency provide impetus to the demand for Robotic process automation market solutions.

Lack of technical expertise associated with the deployment and integration might hinder the RPA market growth. Moreover, less potential of such solutions to grow in the knowledge based business operations is expected to curb the industry demand. Continuity in the business processes, ROI and practical implications are among the major concerns related to the technology implementation. Unwillingness of employees to make a transition from traditional business processes to automated business processes coupled with the lack of awareness will also pose a challenge to the adoption.

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Increasing demand from organizations to automate the business processes such as handling customer enquiries is leading to the significant growth of automated solutions demand. Adoption of such automated solutions helps organizations to streamline the business operations and focus on their core competencies. Automation of monotonous tasks such as timesheets & proposal submissions eliminates the work load on production team results in increased productivity and fueling the organization?s competitiveness.

To bridge the gap between largely backed digital transformation projects, the IT & telecom sector is expected to witness high growth in the Robotic process automation market. With a virtual workforce that streamlines the traditional business processes, RPA can accomplish this leading the valuable company resources to focus on more important work. The BFSI industry is expected to witness highest adoption of RPA solutions, which can be attributed to the accuracy, efficiency offered by such systems in terms of costs, providing a quick way to address the regulatory compliance issues by bridging the connection between the BPM and ERP systems.

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 market, 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.

Table of Contents (ToC) of the report:

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

Chapter 6    Robotic Process Automation Market, By Organization Size

6.1  Global RPA market share by organization size, 2016 & 2024

6.2  SMBs

6.2.1    Market estimates and forecast, 2013 - 2024

6.2.2    Market estimates and forecast, by region, 2013 - 2024

6.3  Large enterprises

6.3.1    Market estimates and forecast, 2013 - 2024

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

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/robotic-process-automation-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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