Robotic process automation is an application that offers computer software configuration, which helps to capture and interpret the manipulated data, transaction, processing responses, and create a communicating process with other digital systems. The rising demand for advanced automation solutions in various industries, especially in the IT industry due to increase in the working speed of employees, has helped fuel growth of the IT robotic automation market globally. The increasing demand for process automation in big data analytics is a result of time effective extraction of insights, which in turn, fuels growth of the global IT robotic process automation market. Moreover, the demand for modernization of business processes has increased, owing to improvement in productivity and increasing customer satisfaction thus, boosting the demand for IT robotic automation solution.
In addition, the increasing popularity of robotic automation in the IT industry for process improvement, especially for accounting and financial management has become a crucial factor fueling growth of the IT robotic automation market. Moreover, the robotic automation tools is largely adopted by BPO services and infrastructural management. IT robotic automation offers data integration, query handling, payment processing, task allocation, and automating invoicing, which help boost demand for IT robotic automation solutions in the IT industry, in turn, fueling growth of the market.
IT Robotic Automation Market Taxonomy
On the basis of tool, the global IT robotic automation market is segmented into:
- Model-based application
- Process-based application
Among tools, the model-based application segment held a dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Due to increasing demand of customized model process solution in various verticals have raised the demand of the model based application
On the basis of services, the global IT robotic automation market is segmented into:
- Professional services
- Integration and Development
Among services, the professional services segment held a dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. The training segment is projected to exhibit the largest CAGR over the forecast period. .
On the basis of operation, the global IT robotic automation market is segmented into:
IT Robotic Automation Market Outlook – North America holds significant market share
On the basis of geography, the global IT robotic automation market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds a dominant position in the global market and is projected to retain its dominance throughout the forecast period. The rampant innovation in computing technology observed in the North American region, is a major factor contributing to rapid growth of the market in the region. Moreover, the increasing demand for IT and IT-related services have helped increase the demand for IT robotic automation technology in the region. Countries such as the U.S. and Canada observe the presence of major companies. Similarly, Asia Pacific is projected to exhibit the highest CAGR over the forecast period. India, China, and Japan are some of the major countries in the region that help drive growth of the market for IT robotic automation. The increasing government and private investment to develop IT-related infrastructure, has also boosted growth of the IT robotic automation market in Asia Pacific.
Key Players in the Global IT Robotic Automation Market
Xerox Corporation, Verint System Inc., Uipath SRL, Redwood Software, Pegasystems Inc., Nice Systems Ltd., Ipsoft, Inc., Celaton Ltd., Blue Prism PLC, and Automation Anywhere are some of the major players operating in the global IT robotic automation market.