The major growth drivers in the RPA market is the growing demand for business process automation (BPA) through the use of artificial intelligence (AI).
Dallas, United States - November 5, 2020 /MarketersMedia/ —
Robotic Process Automation (RPA) Market Size to reach $6.22 billion by 2025. Robotic Process Automation can be seen as a disrupter in the field of Information and Communication Technology. Development in the area of artificial intelligence and machine learning is helping RPA to develop new features and passing them to the end customers via market entities. Market entities along the value chain are targeting to solidify their position. The vendors are challenging and experimenting with new features to establish their product in the market. This can be seen as the top companies in the field have reported revenue growth several folds in the past two years. The benefits of RPA have led many governments and private organizations of several countries to invest in this new technology. Benefits such as more productivity and reduction in operation cost have led to increased funding for R&D in the field.
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On the Industry level, the RPA industry is experiencing unprecedented growth owing to the greater level of efficiency achieved through automation. Companies like UiPath, Automation Anywhere and Blue Prism are the leading players in the RPA market. The market can be said to be concentrated as the top five players weigh about half of the total market. The leading players are trying to develop cost-effective and improved solutions and also offering better customer experience.
NICE Expands its RPA Portfolio with NEVA Launch
Mimicking technological innovations and eying superlative user experience for customer engagement and loyalty sustenance, market players in robotic process automation space are increasingly expanding their services with innovative new launch, fetching them ideal end user response as well as positioning them favorably on the growth chart, besides winning certifications and accolades. As governments across the world are also supporting tremendous digital transition, role of robotic process automation is likely to witness magnificent spike in the coming years, a new business intelligence report by Adroit suggests.
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Aligning with this, leading marketing participant, NICE has added a new service to its portfolio by adding NEVA Unlimited, a unique, high end next gen robotic automation series to encourage automation across businesses. To calibrate larger customer adoption, customers are offered free of cost unattended automation robots that come with this new series, NEVA, that will henceforth enable broadcast automation for enterprises.
Further, owing to its high-end RPA solutions and growing customer base, NICE has also been recognized for its Attended Robotic Process Automation solutions.
To support uninterrupted business delivery and operations eying operational efficiency, businesses are rapidly adopting robotic process automation and it has emerged as an integral technology to fast track operational delivery. Additional technological innovations such as AI and machine learning are expected to further expedite efficiency without any price overhaul. Post pandemic, verticals such as retail and hospitality are expected to rely extensively on robotic process automation to gauge into customer behavior and subsequently deploy effective business strategies to ensure growth.
Region-Wise, North America is expected to hold a significant share of the global Robotic Process Automation market. This is owing to the presence of major industry players, the presence of VCs and startups.
Some of the major companies operating in the Robotic Process Automation market include Nice Systems Ltd., Automation Anywhere, Blue Prism, Celaton, IPSoft, Pegasystems, Redwood Software, UiPath, Verint, Xerox among other prominent players.
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Key segments of the global robotic process automation market
Process Overview, 2015-2025 (USD Million)
• Automated Solution
• Decision Support & Management Solution
• Interaction Solution
Operation Overview, 2015-2025 (USD Million)
• Rule Based
• Knowledge Based
Type Overview, 2015-2025 (USD Million)
• Tools
• Services
Industry Overview, 2015-2025 (USD Million)
• BFSI
• Manufacturing
• Pharma & Healthcare
• Retail
• Telecom & IT
• Others
Regional Overview, 2015-2025 (USD Million)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Switzerland
• Rest of Europe
• Asia Pacific (APAC)
• India
• China
• Japan
• Australia
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• Rest of MEA
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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