Market Research

Robotic Process Automation Market Future Scope with $6869.6 Million by 2025 – WorkFusion, UiPath, Thoughtonomy, NICE, Automation Anywhere, Softomotive, Pegasystems

Jun 15, 2020 4:00 PM ET

iCrowd Newswire – Jun 15, 2020

Latest market study on “Robotic Process Automation (RPA) Market – Component (Software and Services) Services (Training and professional Services) and Verticals (BFSI, Telecommunication, Retail, Manufacturing, Transportation & Logistics, and Others) Global Analysis and Forecast”, the RPA market is estimated to reach US$ 6869.6 million by 2025 from US$ 198.4 million in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Increased opportunities arising at the early stage within the BPO & shared services will escalate the RPA Market at a CAGR of 55.0%

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The global RPA market for the verticals is fragmented into BFSI, Telecommunications, retail, healthcare, transportation & logistics and others. The segmentation is based upon the need for RPA to improve back end and front end business processes. Telecommunications and BFSI cumulatively in the RPA 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 RPA. 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 a huge capacity of 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.

There has been constant development in RPA industry. Recently, Blue Prism introduced its new product offering. This offering features the “out of the box” API integrations with Google, AWS, Microsoft and IBM to enable operational AI at scale. Along with Blue Prism’s RPA platform, enterprise users of Google, AWS, Microsoft, and IBM would be able to access a variety of AI-powered digital workers to automate and complete increasingly complex tasks through a single platform.

Presently, more than half of the BPO (Business Process Outsourcing) service providers across the globe are engaged in a mere replication of client processes, at reduced costs. However, the rapidly advancing technological environment is imposing constant pressure on the BPOs, as their conventional methods pertain to obsolete over the coming years. In addition, the end-clients are also considering automation of processes, while selecting BPO service provider.

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