9 months ago

Global Robotic Process Automation Market to grow at 20

More Information @ The growing adoption of RPA technology by organizations to enhance their capabilities, performance and reduce operational costs is expected to drive the Robotic process automation market growth over the forecast timeline. In order to gain ease of the processes, organizations are increasingly deploying these solutions with the traditional business processes. Surge in demand to eliminate manual interference in simplified and time-consuming business processes is predicted to increase the technology adoption rate.

Global Robotic Process Automation Market to grow at

Global Robotic Process Automation Market to grow at 20% CAGR from 2017 to 2024: Robotic Process Automation (RPA) Market set to exceed USD 5 billion by 2024, driven by rising demand across manufacturing and logistics industry. Robotic process automation (RPA) market has been gaining remarkable popularity lately, subject to the fact that automation has become important component in various enterprises across the globe. It has been observed that many companies have been adopting RPA technology with an aim to reduce the capital cost of the products and modernize business operations. The rapidly increasing use of this technology in various sectors is a vital factor that is expected to stimulate robotic process automation industry share. More importantly, this technology is increasingly being deployed in the medical and oil & gas sectors, which are touted to be two of the most dynamic markets of today. Companies have lately been following practices such as centralized business plan, training, and periodic product developments, that depicts their apparent urgency to deploy consistent automation in their business methodologies. This change of tactics is likely to have a positive impetus on robotic process automation (RPA) market, which, as per reports, collected a revenue of USD 600 million in 2016. Reputed firms such as Xerox Corporation and IBM have implemented the RPA technology for a while now, to reduce costs and improve productivity. Apart from industrial applications, RPA is being favored by hospitals to quite an extent, to handle medication distribution, which will favorably propel RPA industry size. An instance proving the aforementioned statement to be true is that of the RAH implementing the largest automated pharmacy distribution system. The Royal Adelaide Hospital, based in South Australia, has recently implemented one of the largest automated pharmacy distribution systems, that boasts of the incorporation of RPA technology. Considering the benefits of this technology, many other hospitals across the Australian southern hemisphere have also been deploying this technology on large scale, which is likely to have a favorable impact on the regional robotic process automation market size. The emergence of digital technologies such as artificial intelligence (AI), natural language processing (NLP), and machine learning have also apparently been adding significant value to robotic process automation industry. Recently, HCL Technologies, one of the big names in the software space, launched two AI powered services, 1 | P a g e

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