Robotic Process Automation Market Global Opportunity Analysis and Industry Forecast, 2018-2023
Robotic Process Automation Market Overview • Robotic process automation (RPA) is an application technology where software with capabilities of artificial intelligence and machine learning are used for handling high volume, repeatable tasks. RPA allows employees to configure and program computer software or a robot to interpret existing application in the organization for manipulating data, processing transactions and communicating with digital systems. The RPA is similar to traditional IT automation, but the major difference between these technologies is, RPA is capable of learning itself and adapt to changing circumstances which a conventional IT automation system lacks. • Acknowledging the impressive growth records, the market perceives, Market Research Future (MRFR) in its recently published study report asserts that the global Robotic Process Automation market will register a whopping CAGR of 29% from 2017 to 2023, witnessing accruals of approx. USD 2,700 Mn. by 2023
Once the RPA software has been implemented, companies can reap the benefits of this software which is been proven to be effective in back-office and middle-office tasks across the industries. • RPA has been proven to be boon in the industries such as BFSI, supply chain, accounting, CRM, and human resource management (HRM) among others. High efficiency at low cost is one of the major driving factors for the market of RPA. • The factors that have provided impetus to the RPA market growth are ease in business processes offered by robotic process automation, and convergence of robotic process automation with traditional business process industries. Read More at: https://www.marketresearchfuture.com/reports/robotic-process-automation-market-2209
Market Segmentation • The MRFR analysis is segmented into five key dynamics for the convenience of the report and enhanced understanding; • By Process: Automated Solution, Decision Support & Management Solution and Interaction Solution among others. • By Operations: Spend Analysis, E-Sourcing, E-Procurement, Contract Management and Supplier Management among others. • By Types: Tools, Services and Travel & Logistics • By Industries: BFSI, Healthcare & Pharmaceuticals, Manufacturing & Logistics, IT & Telecommunication, Retail, Travel, Hospitality, and Transportation among others. • By Regions: North America, Europe, APAC and Rest-of-the-World.
Detailed Regional Analysis • The regional analysis of robotic process automation market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for largest share in robotic process automation market owing to high development in field of technology and presence of developed countries. Europe is one of the prominent player in the market of robotic process automation. Countries such as U.K., Germany and Italy are the major contributors in the market growth due to the rich manufacturing and automotive industry. Asia-Pacific is expected to emerge as fastest growing market during the forecast period. Development of Asian countries and demand for consumer electronic products is forcing the manufacturers to adopt a cost effective technology in the manufacturing process.
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