Global Robotic Process Automation Market to grow at 20
More Information @ http://bit.ly/2EBIX3P 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.
More Information @ http://bit.ly/2EBIX3P
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.
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<strong>Global</strong> <strong>Robotic</strong> <strong>Process</strong> <strong>Au<strong>to</strong>m<strong>at</strong>ion</strong> <strong>Market</strong> <strong>to</strong> <strong>grow</strong><br />
<strong>at</strong> <strong>20</strong>% CAGR from <strong>20</strong>17 <strong>to</strong> <strong>20</strong>24: Frac<strong>to</strong>via.org<br />
<strong>Robotic</strong> <strong>Process</strong> <strong>Au<strong>to</strong>m<strong>at</strong>ion</strong> (RPA) <strong>Market</strong> set <strong>to</strong> exceed USD 5 billion by <strong>20</strong>24, driven<br />
by rising demand across manufacturing and logistics industry.<br />
<strong>Robotic</strong> process au<strong>to</strong>m<strong>at</strong>ion (RPA) market has been gaining remarkable popularity<br />
l<strong>at</strong>ely, subject <strong>to</strong> the fact th<strong>at</strong> au<strong>to</strong>m<strong>at</strong>ion has become important component in various<br />
enterprises across the globe. It has been observed th<strong>at</strong> many companies have been<br />
adopting RPA technology with an aim <strong>to</strong> reduce the capital cost of the products and<br />
modernize business oper<strong>at</strong>ions. The rapidly increasing use of this technology in<br />
various sec<strong>to</strong>rs is a vital fac<strong>to</strong>r th<strong>at</strong> is expected <strong>to</strong> stimul<strong>at</strong>e robotic process au<strong>to</strong>m<strong>at</strong>ion<br />
industry share. More importantly, this technology is increasingly being deployed in the<br />
medical and oil & gas sec<strong>to</strong>rs, which are <strong>to</strong>uted <strong>to</strong> be two of the most dynamic markets<br />
of <strong>to</strong>day. Companies have l<strong>at</strong>ely been following practices such as centralized business<br />
plan, training, and periodic product developments, th<strong>at</strong> depicts their apparent urgency<br />
<strong>to</strong> deploy consistent au<strong>to</strong>m<strong>at</strong>ion in their business methodologies. This change of<br />
tactics is likely <strong>to</strong> have a positive impetus on robotic process au<strong>to</strong>m<strong>at</strong>ion (RPA) market,<br />
which, as per reports, collected a revenue of USD 600 million in <strong>20</strong>16.<br />
Reputed firms such as Xerox Corpor<strong>at</strong>ion and IBM have implemented the RPA<br />
technology for a while now, <strong>to</strong> reduce costs and improve productivity. Apart from<br />
industrial applic<strong>at</strong>ions, RPA is being favored by hospitals <strong>to</strong> quite an extent, <strong>to</strong> handle<br />
medic<strong>at</strong>ion distribution, which will favorably propel RPA industry size. An instance<br />
proving the aforementioned st<strong>at</strong>ement <strong>to</strong> be true is th<strong>at</strong> of the RAH implementing the<br />
largest au<strong>to</strong>m<strong>at</strong>ed pharmacy distribution system. The Royal Adelaide Hospital, based<br />
in South Australia, has recently implemented one of the largest au<strong>to</strong>m<strong>at</strong>ed pharmacy<br />
distribution systems, th<strong>at</strong> boasts of the incorpor<strong>at</strong>ion of RPA technology. Considering<br />
the benefits of this technology, many other hospitals across the Australian southern<br />
hemisphere have also been deploying this technology on large scale, which is likely<br />
<strong>to</strong> have a favorable impact on the regional robotic process au<strong>to</strong>m<strong>at</strong>ion market size.<br />
The emergence of digital technologies such as artificial intelligence (AI), n<strong>at</strong>ural<br />
language processing (NLP), and machine learning have also apparently been adding<br />
significant value <strong>to</strong> robotic process au<strong>to</strong>m<strong>at</strong>ion industry. Recently, HCL Technologies,<br />
one of the big names in the software space, launched two AI powered services,<br />
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namely, DRYiCE TAO and DRYiCE COPA <strong>to</strong> provide str<strong>at</strong>egic consulting services and<br />
a process transform<strong>at</strong>ion pl<strong>at</strong>form <strong>to</strong> enterprises. Through the DRYiCE COPA, HCL<br />
has paved the way for delivering next-gener<strong>at</strong>ion products <strong>to</strong> consumers by envisaging<br />
a difference in the conventional role of robotic process au<strong>to</strong>m<strong>at</strong>ion. Many such<br />
enterprises have been looking out for AI-based products <strong>to</strong> rebuild their systems,<br />
which is sl<strong>at</strong>ed <strong>to</strong> boost robotic process au<strong>to</strong>m<strong>at</strong>ion (RPA) market share over the years<br />
ahead.<br />
As per an RPA market report compiled by <strong>Global</strong> <strong>Market</strong> Insights, Inc., huge<br />
corpor<strong>at</strong>ions have been incorpor<strong>at</strong>ing RPA technology on a large scale <strong>to</strong> provide<br />
excellent management capabilities and optimize the business process. Software<br />
based robotic process au<strong>to</strong>m<strong>at</strong>ion is used for the various purposes such as inform<strong>at</strong>ion<br />
auditing and analyzing and business process moni<strong>to</strong>ring. The surging demand for<br />
such products from a multitude of organiz<strong>at</strong>ions <strong>to</strong> modernize business processes for<br />
handling cus<strong>to</strong>mer queries is likely <strong>to</strong> fuel robotic process au<strong>to</strong>m<strong>at</strong>ion (RPA) market<br />
over the coming seven years.<br />
U.S. RPA <strong>Market</strong> Share, By Organiz<strong>at</strong>ion Size, <strong>20</strong>16<br />
L<strong>at</strong>in America: The new hotbed for RPA industry stakeholders<br />
The industrial space in L<strong>at</strong>in America has of l<strong>at</strong>e been experiencing a dynamic<br />
transform<strong>at</strong>ion owing <strong>to</strong> the deployment of robotic process au<strong>to</strong>m<strong>at</strong>ion, subject <strong>to</strong><br />
which several <strong>to</strong>p-notch enterprises and service centers are expanding their business<br />
space across the region. Recently, Symphony ventures, a well-known company<br />
specializing in robotic process au<strong>to</strong>m<strong>at</strong>ion and intelligent au<strong>to</strong>m<strong>at</strong>ion, decided <strong>to</strong><br />
expand its service centers across L<strong>at</strong>in America <strong>to</strong> fulfil the <strong>grow</strong>ing demand for its<br />
products in the region. If reports are <strong>to</strong> be believed, Symphony Ventures has<br />
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witnessed a huge requirement for its au<strong>to</strong>m<strong>at</strong>ion services across L<strong>at</strong>in America, owing<br />
<strong>to</strong> the increasing utiliz<strong>at</strong>ion of the technology across Brazil, Argentina, Chile, Mexico,<br />
Columbia, Peru, and Gu<strong>at</strong>emala, which will considerably stimul<strong>at</strong>e LATAM robotic<br />
process au<strong>to</strong>m<strong>at</strong>ion (RPA) industry size over the coming seven years.<br />
Another major fac<strong>to</strong>r th<strong>at</strong> may gener<strong>at</strong>e lucr<strong>at</strong>ive opportunities for companies in robotic<br />
process au<strong>to</strong>m<strong>at</strong>ion market is th<strong>at</strong> numerous clients from the telecom, banking,<br />
chemical, food processing, agriculture, and manufacturing sec<strong>to</strong>rs have been<br />
earnestly seeking RPA services. The deployment of RPA technology helps <strong>to</strong> improve<br />
oper<strong>at</strong>ional functionality by enhancing the accuracy of work quality, and speed, which<br />
may spur RPA industry ahead. Speaking of companies, the competitive spectrum of<br />
RPA market includes biggies such as <strong>Au<strong>to</strong>m<strong>at</strong>ion</strong> Anywhere, Nice Systems Ltd., Blue<br />
Prism, Xerox Corpor<strong>at</strong>ion, Ipsoft, Uip<strong>at</strong>h, Cela<strong>to</strong>n Ltd, Verint Systems, Pegasystems,<br />
and Redwood Software, th<strong>at</strong> have been adopting <strong>grow</strong>th str<strong>at</strong>egies such as M&As <strong>to</strong><br />
increase their cus<strong>to</strong>mer base across the globe.<br />
The wave of au<strong>to</strong>m<strong>at</strong>ion is likely <strong>to</strong> transform the service sec<strong>to</strong>r over the years ahead.<br />
Au<strong>to</strong>nomous machines make work much easier as they have the capability <strong>to</strong> carry<br />
out remote oper<strong>at</strong>ions th<strong>at</strong> do not take friendly <strong>to</strong> human intervention - laying<br />
underw<strong>at</strong>er cables, moni<strong>to</strong>ring wear and tear of aircraft engines and drill tips, etc. In<br />
the future, it is expected th<strong>at</strong> airports will be planning <strong>to</strong> undergo extensive<br />
refurbishment with the help of RPA technology. The <strong>grow</strong>ing au<strong>to</strong>m<strong>at</strong>ion<br />
implement<strong>at</strong>ion across airports for face scanning, check-in, robot baggage collection,<br />
apart from myriad other applic<strong>at</strong>ion arenas, is sl<strong>at</strong>ed <strong>to</strong> influence robotic process<br />
au<strong>to</strong>m<strong>at</strong>ion (RPA) market share positively over the forthcoming years.<br />
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Industry Background<br />
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