The global IT robotic automation market covers a variety of services and hardware and software products that enable automation of mundane, repetitive processes and operations central to the IT industry. IT robotic automation involves a machine or computer software that can mimic human actions and undertake a set of rule-based tasks.
Analysts project that automation is expected to bring significant changes in the IT industry, enhancing it on several fronts including time-to-market, product innovations, and customer services. IT companies across the globe utilize robotic automation to enhance core IT processes such as request management, access management, incident management, availability management, problem management, and monitoring.
The market is projected to witness expansion at an exponential 60.5% CAGR over the course of 2014-2020, according to a market intelligence report published by Transparency Market Research. If the projection holds true, the market is expected to rise from a valuation of US$ 183.1 Mn in 2013 to US$4.98 billion by 2020.
What are the factors driving the market?
A myriad of factors are boosting the global IT robotic automation market. Some of the key drivers of the market include the ability of robotic automation technology to improve other application software without integration. The increasing awareness about cost and efficiency benefits provided by automated processes as compared to manual processes will also drive the market. The rising utilization of robotic automation services in the finance and accounting sector as a way to reduce expenditure and the rising popularity of IT robotic automation services as an effective alternative to offshore outsourcing are also driving the market.
However, the market’s growth is restricted to a certain extent, by moral concerns such as the social implications of taking away jobs from humans in the course of automation. Furthermore, security concerns regarding giving technology increased access to business secrets, making it more vulnerable to cyber threats and thefts are also inhibiting the market’s growth.
Robotic Process Automation Services Dominate Market
The market for IT robotic automation can be segmented on the basis of the type of entity involved in the practice of robotic process automation (RPA) in the IT industry – RPA tools and RPA services.
The segment of robotic process automation tools includes model-based application tools and process-based application tools. The variety of robotic process automation services offered in the market include professional services such as consulting and integration and development, business process outsourcing services (BPO), and training. In 2013, the segment of RPA services dominated the global IT robotic automation services, majorly supported by partnerships between IT service companies and RPA tool providers.
North America and Europe Dominate IT robotic Automation Space; Asia Pacific Holds Immense Growth Potential
North America and Europe emerged as the leading contributors to the overall revenues generated by the global IT robotic automation market in 2013. Technologically advanced IT companies in these regions consider robotic automation as a viable technology with the potential of fulfilling their goals of reduced time-to-market and achieving revenue goals in the highly competitive market.
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The market has also shown huge growth potential in Asia Pacific in the past few years owing to the flourishing IT industry in India. In the future also, the market for IT robotic automation will continue to benefit from the RPA development opportunities provided by the region’s IT sector.
Some of the major vendors in the global IT robotic automation market are Blue Prism, Be Informed B.V., Sutherland Global Services, Cognizant Technology Solutions, IPSoft, Inc., Tata Consultancy Services, Appian Corporation, Hewlett Packard Company, Infosys Limited, and Accenture plc.