The Global IT Robotic Automation Market, By Type (Tools (Model based and Process based), Services (Professional (Consulting, Integration and development, and BPO), and Training), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa)- Global Forecast to 2027, is expected to be valued at US$ 125,300.2 million by 2027, exhibiting a CAGR of 58.5% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
Robotic process automation (RPA) is a form of business process automation technology based on metaphorical software robots or artificial intelligence. RAP is similar to strong technical similarities to graphical user interface testing tools. IT robotic automation can help in application management as well as infrastructure management. Some of the basic processes in IT that can be managed via RAP include request management, availability management, monitoring, incident management, and problem management.
The global IT robotic automation market is estimated to account for US$ 125,300.2 Mn in terms of value by the end of 2027.
Cost benefits and enhanced efficiency is expected to boost the global IT robotic automation market growth over the forecast period
Robotic automation in IT offers various benefits such as cost reduction, efficiency, scalability, flexibility, faster processing, and enhanced productivity among others. Due to these benefits, robotic automation has seen widespread adoption across various IT industry applications such as BPO management, application management, and infrastructure management. Several large players in the IT industry partnering with leading robotic automation software service providers such as Blue Prism and IPsoft in a bid to automate their business processes. Therefore, these factors are expected to propel the global IT robotic automation market growth over the forecast period.
Ability to leverage other application software can offer major business opportunities in the global IT automation market
The introduction of new software in the existing technology infrastructure may invite many complex difficulties. However, the robotic automation process is technology-agnostic i.e. it can work with the existing technology infrastructure across legacy platforms such as ERP, custom applications, mainframes, and other IT platforms without the need for integration. This has been one of the major driving factors since complexity in leveraging would have considerably restricted the widespread adoption of robotic software. Operating at the user interface layer of applications and working around the existing systems enables the autonomous platform to mimic what individual payroll administrators have been doing in order to keep the system running.
Limitations on existing BOP contracts are expected to hinder the global IT robotic automation market growth over the forecast period
A key challenge that hampers the quick adoption of robotic automation in the BPO segment is related to the existing outsourcing contracts. Businesses have long-term outsourcing contracts, and any changes in the existing IT infrastructure can be made only after the expiration of these contracts. As a result of relying on labor arbitrage and involvement of poor technical capabilities, the contracts take numerous years to reach completion. This factor is currently hindering the widespread adoption of RPA technology in the BPO sector. Moreover, as the BPO industry is expected to continue to be the major customer of robotic process automation, this challenge is expected to affect the market adversely. Thus, these factors are expected to hinder the global IT robotic automation market growth in the near future.
Logistics is another major sector witnessing high adoption of robotic process automation. The logistics industry involves numerous activities that can be automated, which can be done with RAP. Many market players are focused on R&D activities, in order to provide novel solutions in logistics sectors. Such products can streamline activities in the logistics sector.
Major companies in the market are focused on business and capacity expansion, in order to enhance the market presence and gain a competitive edge. For instance, in December 2014, Blue Prism opened a new sales office in Chicago to account for demand for RPA from enterprises in the U.S. The company was previously operating in the U.S. through its headquarters in Miami.
Key players operating in the global IT robotic automation market are Blue Prism, Genpact Ltd., Be Informed B. V., Genfour, Appian Corporation, Capgemini, IPSoft, Inc., Infosys Limited, Atos SE, Tata Consultancy Services Limited, and Cognizant Technology Solutions Corp..