Robotic Process Automation Market to hit USD 7,288 million by 2026 |Informed B.V, OpenSpan, Blue Pr
Posted: Oct 24, 2018
According to a new study published by Polaris Market Research the worldwide RPA market is anticipated to reach USD 7,288 million by 2026. Currently, majority of the organizations are implementing the solutions depending upon RPA which are fully developed in terms of applicability, credibility and clarity.
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RPA is proving the flexibility and benefits such as cost saving, scalability, enhanced accuracy, and compli
ance. Industry experts are focusing to transform the traditional Business Process Management (BPM) model and alter the worldwide outsourcing industry as these tools are less expensive and perform repetitive and complex tasks.
The main difference between the Rpa and other automated methodologies is the aligned processes used to complete the tasks carried by employees. RPA uses applications from a standard integration through the distribution of software without alteration to the applications or systems being regulated.
Today, most of the new technologies are highly expensive however, RPA has simplified processes and is neither complex nor expensive. RPA has its major applications in multiple industry verticals such as IT, telecom, healthcare and BFSI, and it is anticipated that the BFSI vertical would have a major traction during the forecast period.
Key Findings from the study suggest the largest share of this market in 2017 was of North America. Due to the growing need to reduce the operational cost and increase effectiveness, medium and small enterprise are anticipated to inspect the highest CAGR. In the year 2017, Telecom & IT estimated for the highest market share. RPA is used widely in Telecom industry as the sector requires activities and demands from users with ever increasing amount of data processing.
Over the forecast period, Asia Pacific is anticipated to grow at a CAGR of 41%. Due to the rising RPA awareness, this region holds automation technologies and applications at a faster pace. There is a growing demand to provide growth opportunities that are expected to incorporate Business Process-as-a-Service (BPaaS). By 2026, the North American robotics process automation market is expected to reach USD 3.4 billion. This is due to the increased perforation in medium and small enterprises of automation and process management solutions. The key competitors in the robotics process automation market are Automation Anywhere Inc., Blue Prism Group Plc, Jacada Inc., OpenSpan, and Be Informed B.V. among others.
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.