Robotic process automation, also dubbed smart automation or intelligent automation, principally signifies advanced technologies that can be automated to carry out a sequence of tasks, such as triggering responses, generating essential communication with other system & process, and data manipulation that earlier needed human intervention.
The growth of the global IT robotic automation market is mainly driven by the rise in the implementation of cloud-based and Artificial Intelligence solutions for internal productivity among SMEs. Further, the increasing use of IaaS, PaaS, and SaaS offerings for cloud computing, customer relationship management, open source resources, enterprise resource management, network connectivity, cooperative robot learning, and other financial applications is also projected to boost the market growth during the forecast period. Additionally, the growing recognition of robotic automation within the IT sector for process enhancement, particularly for financial and accounting management is expected to fuel market growth.
The global IT robotic automation market can be categorized based on tool, services, operations, and region. the market, by tool, is divided into process-based application and model-based application. Among these, the dominant position was held by model-based application segment and is anticipated to maintain its supremacy during the forecast period owing to the rising requirement of tailored model process solution in numerous sectors. The market, by services, is classified into training and professional services. The professional services segment is further sub-categorized into BPO, consulting, and integration & development. The market, by operation, is bifurcated into knowledge-based and ruled- based.
Regionally, the global IT robotic automation market is projected to be governed by North America during the forecast period. this expansion can be credited to the growing automation in numerous fields, like electronics, healthcare, education, retail, government, and services. Also, the elevated count of outsourced customer services firms and the existence of prominent vendors are projected to drive the regional market growth. Asia Pacific is also anticipated to witness substantial growth during the forecast period. Japan, China, and India are few of the key nations in the region that support the expansion of the IT robotic automation market. The growing investment by private and government organizations to build IT-connected infrastructure has also fueled the growth of the regional market.
The leading players within the global IT robotic automation market comprise Be Informed B.V., Blue Prism, IPSoft, Inc., Appian, Infosys Limited, Tata Consultancy Services Limited., Atos SE, Cognizant Technology Solutions Corp., Genfour, Capgemini, Automation Anywhere, Inc., Genpact Ltd., UiPathSRL, and Sutherland Global Services, Inc. To cite, in January 2020, a partnership was announced between an IT services provider Espire Infolabs and Kofax aiming at renovating end-to-end business operations.