IT Robotic Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 11/15/2017 -- The global IT robotic automation market features a highly competitive landscape with a vast presence of players vying for a sustained share of the market by offering advanced solutions and tools at competitive pricing, notes Transparency Market Research (TMR). Some of the leading providers offering IT robotic automation solutions are UiPath SRL, Infosys Limited, Tata Consultancy Services Limited., IPSoft, Inc., Be Informed B.V., Blue Prism, and Sutherland Global Services, Inc. Several players are focused on developing cost-effective solutions, primarily aimed toward small and medium end-use enterprises, constrained by marked budget constraints, observes TMR. These players are focusing on untapped markets in various developing regions, in a move to consolidate their shares.
With the surging need for interactive and intuitive eLearning solutions among several end-use industries, the market is likely to witness elevated competitive over the years. Leading players are keen on developing high-functional automation tools and offering services at competitive pricing to gain a competitive edge over others.
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The global market for IT robotic automation is predicted to reach a valuation of US$16,884.0 mn by the end of 2024. The market is projected to rise at a whopping CAGR of 47.1% from 2016 to 2024.
Based on solutions, the IT robotic automation market is segmented into services and tools. Of these, the services segment presently holds the dominant market share and is expected to continue its lead throughout the forecast period. Regionally, the North America market IT robotic automation held the major share of the global market in 2015, in terms of revenue. The dominance of the regional market is primarily attributed to a large number of early adopters and the growth is likely to be fueled by substantial advances being made in computing technologies.
Robotic Automation to Bring Vast Process Improvements in Financial Processes in IT Sector
The growing demand for advanced process automation solutions in the IT industry to streamline workflows and key processes is a vital factor driving the IT robotic automation solution market, globally. The growing prominence of process automation in big data analytics to deliver on substantial value across a wide range of business processes is a key factor propelling the demand for IT robotic automation services and tools. The rising demand for modernizing business processes aimed toward improving productivity and boosting customer satisfaction in various industries is catalyzing the uptake of robotic automation solutions. For instance, the growing automation of a variety of routine processes in several businesses in a number of emerging economies is fueling the growth of the market.
The rising popularity of robotics among IT enterprises in bringing process improvements in key business functions, especially financial management and accounting, is a crucial factor boosting the market. In addition, the uptake of robotic automation tools is vastly fuelled by their applications in BPO and infrastructure management. Robotic services in the IT sector are gaining traction for automating invoicing, task allocation, payment processing, query handling, and data integration. In addition, the increased demand for robotic tools for improving compliance has also bolstered the uptake.
Robotic Automation Solutions Gaining Traction across Server Management
The indiscriminate control vetted out to a handful of programmers or end users to manage several key business processes in an IT enterprise is a crucial concern likely to hinder the market to an extent. In addition, the marked complexity of some of the existing outsourcing contracts in the BPO sector is a key factor expected to hinder the IT robotic automation market. This has hindered a wide scale adoption of robotic automation tools in the IT industry in various parts of the world.
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On the other hand, the growing popularity of robotic solutions in big data management and their growing demand for infrastructure management in the IT sector are key factors expected to catalyze the market growth in the coming years. For instance, the adoption of robotic automation solutions is gaining traction across server management, Furthermore, the uptake of robotic automation tools and services has led to a significant reduction of infrastructure headcount. The rising share of robotic automation in big data analytics to leverage never-seen-before benefits is anticipated to unlock exciting opportunities for manufacturers and vendors in the market.