Asia Pacific robotic process automation market to grow multiple folds during the forecast period of 2018-2025
An robotic process automation is a technology where robots are the software tools that automate business process delivery. This software facilitates improvised data security, business efficiency, and effectiveness by impersonating human activities and automating routine processes across varied business functions without hampering the on-going system and infrastructure. robotic process automation software comprises of a variety of components and tools for capturing digital data, which further includes digital image recognition, screen scraping. It might also consider a potential to be linked or attain an access to the server or a website. In addition, this software also uses some of the functions that are similar business process management tools like rule engine. ROBOTIC PROCESS AUTOMATION software is particularly useful for organizations that have many different, complicated systems that are required to interact together effortlessly.
The global robotic process automation market exhibit high growth in near future. Some of the major driving factors contributing to the market growth are increased opportunities arising at the early stage within the BPO & shared services, cost benefits offered by robotic process automation, and rapid product innovation by the technology providers. However, lack of impactful potential for SMBs and frequent alterations in operating procedures and business rules impacting the robotic process automation efficiency. These are some of restraining factors behind the slow growth of robotic process automation market during the forecast period.
Global robotic process automation market has been categorized into two major segments including software and service. Service is further bi-furcated by training and professional services. Some of the professional services included in the report are consulting, system integration and support & maintenance. The rapid growth incidences of the companies have legitimated robotic process automation as an invention with a potential to transform all the industries virtually at a scale. The market at the moment is facing significant traction of scalable robotic process automation software organizations that have a broad array of applications to offer and caters to potential clients across various sectors. This trend is valuable contributing towards the growth of robotic process automation software for the coming years.
The global robotic process automation market for the verticals is fragmented into BFSI, Telecommunications, retail, healthcare, transportation & logistics and others. The segmentation is based upon the need for robotic process automation to improve back end and front end business processes. Telecommunications and BFSI cumulatively in the robotic process automation market have acquired the biggest share of almost one-fourth in 2017, followed by Transportation & logistics and healthcare. Telecommunications, particularly the BPOs are the early adopters of robotic process automation. The increase in the demand for the global network the telecom industry is facing many challenges in providing the advanced services to its customers. The issues faced by various companies are handling huge data, developing new and advanced services, controlling cost, and focusing on business efficiency; which may hinder the company’s operation, profitability, and focus on the customer.
Some of the leading robotic process automation market players are Blue Prism Group Plc., WorkFusion, UiPath, Thoughtonomy Ltd., NICE Ltd., Automation Anywhere Inc., Softomotive, Pegasystems Inc., Redwood Software, and Kryon Systems among others.
