The global robotic process automation market is forecast to grow at a CAGR of 25.19% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the emerging trends in business process transformation. Presently, businesses are focused on more client-centric processes rather being fixated only about productivity and generating profits. Therefore, there have been changes witnessed in the way the businesses are operating. The primary focus of industries is to reduce human error that is mostly due to the judgment based decisions and approaches. To phase out such errors from business operations, industries are now adopting robotic process automation solution. Few features identified that are now a trend in business operations as industries are more vigilant and focused on quality.
According to the report, one of the major drivers for this market is the improved cost savings for businesses. Robotic process automation is a cost-effective software that allows industries to reduce the operational cost. For business processes that are highly standardized and to be adhered as per the industry and company policies, the RPA is incorporated at different levels. Industries are focused on optimizing operational cost that includes the reduction of manual labor. The implementation of RPA is a one-time investment and ensures a high return on investments.
Further, the report states that one of the major factors hindering the growth of this market is the subscription cost of robotic process automation software. Industries are working on different pricing models that involve various ways of employee hiring and revenue generation. The implementation of RPA software is incorporated to reduce the manpower and generate error-proof data. The implementation of RPA software involves the price quoted by the third-party vendor for RPA. Therefore, the subscription of RPA involves scheduled software updates and maintenance and pricing of RPA based on the business model implementation. Before entering a contract, several regulatory terms and conditions need to be settled between the end-user and software provider, which at times can increase the subscription cost or the cost incurred in design and development. In the case of conflict, the subscription negotiation will have to be renewed or the business model has to be changed. Both the processes are time-intensive and would lead to downtime, ultimately affecting the business process and productivity.
Other prominent vendors
- Automation Anywhere
- Blue Prism
- EdgeVerve Systems (Part of Infosys)
- Kryon Systems
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By End-User
Part 07: Regional Landscape
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/k6778m/global_robotic
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