Enterprise Robotic Process Automation Market is iBot-Enabled Robotic Process Automation Snips Gaining Momentum

Market Research Future has Published a Half-Cooked Research Report on the Global Enterprise Robotic Process Automation Market.

Market Overview

As per a detailed analysis by Market Research Future (MRFR), the enterprise robotic process automation market is predicted to demonstrate a stellar CAGR during the forecast period (2023-2032). Robotic process automation (RPA) can be defined as a technology which can configure a robot in order to interpret and detect the applications needed for transaction processing, data manipulation, and coordinating with other automated systems. The technology is essential for companies having a huge workforce and which can be replaced by robots. RPA technology helps the organizations by providing with rapid completion of processes, better customer service, and efficiency in auditing processed data.

Market Potential and Pitfalls

Enterprise robotic process automation has witnessed a tectonic surge over the past few years due to the surging availability of an enterprise automated solution. It is extensively used in large-scale enterprises for the deployment of data management, which propels the market growth across the globe. Enterprise robotic process automation is extensively used across sectors including telecom & IT and BFSI in order to enhance the efficiency and accuracy of several processes. The iBot-enabled robotic process automation snips are likely to gain momentum among the organizations. It is a family of intelligent robots that assists in all types of process-driven industries along with intensive paperwork departments among the industries. Robotic process automation also helps to enhance and optimize the accuracy and speed of the business processes. Such factors propel the growth of the market across the globe. The adoption of robotic process automation also improves the performance of the organization, reduces cost, and capabilities, which further fosters the growth of the market across the globe. The deficiency of low-cost and skilled labors is considered another factor contributing to the market growth. Moreover, the digitization of business forms is identified to be one of the primary patterns influencing the growth of robotic process automation.

On the contrary, data theft risk is one of the key concerns impacting the growth of enterprise robotic process automation market. Enterprise RPA also restricts the growth in sectors requiring knowledge-based business processes.

Enterprise Robotic Process Automation Market: Segmental Analysis

The enterprise robotic process automation market has been segmented on the basis of process, type, industry, and operations.

By mode of type, the enterprise robotic process automation market has been segmented into services and tools. Among these, the services segment is likely to gain prominence during the review period. Service providers are continuously enhancing advisory, improving consulting, and training services with growing competition. These developments further assist the users in achieving increased scalability and reduced costs.

The process segment comprises decision support, automated solution, interaction solutions, management solutions, and others.

Based on operation, the enterprise robotic process automation market constitutes of rule-based, knowledge-based, and others.

By mode of industry, the market has been segmented into manufacturers, BFSI, retail, telecom, healthcare, and others. Among these, the BFSI segment is likely to acquire the largest share in the global market. The implementation of this technology is anticipated to be high in this segment owing to the automation in business tasks like compliance regulations, data entry, and assembly and formulation, which leads to increased efficiency, speed, and comprehensive insights.

Competitive Dashboard

The prominent players operating in the global enterprise robotic process automation market comprises Blue Prism Group (U.K.), Automation Anywhere (U.S.), IPSoft (U.S.), Celaton Ltd (U.K.), Pegasystems Inc. (U.S.), Nice Systems Ltd. (Israel), UiPath (Romania), Redwood Software (U.S.), Happiest Minds (India), Verint (U.S.), Xerox Corporation (U.S.), International Business Machines Corporation (U.S.).

Regional Frontiers

Geographically, the enterprise robotic process automation market span across regions, namely, Asia Pacific, Europe, North America, and Rest-of-the-World (RoW).

Considering the global scenario, the enterprise robotic process automation market is gaining the highest growth owing to the surging popularity of enterprise resource planning. Companies are extensively adopting automation processes, which are fueling the growth of enterprise robotic process automation market in this region. The evolution of virtual workforce industry with several agencies like 10up and append To are likely to expand in the U.S. market. The European region is likely to witness a significant growth owing to the surging demand for convergence of robotic process automation.

Industry Updates

April 30, 2019: UiPath and Tech Mahindra have recently declared their first-ever joint solution offering; an end-to-end cognitive operations automation solution. This ready-to-use cognitive operations solutions will further accelerate the automation journey of an enterprise.