IT Robotic Automation Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2029
See less
IT Robotic Automation Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2029
IT Robotic Automation Market, by Component Type (Software, Services), Organization Size Type (Large Enterprises, Small- and Medium-sized Enterprises), Industry Application Type (BFSI, Pharmacy and Healthcare, Retail and Consumer Goods, IT and Telecom, Media and Education, Manufacturing, Transportation and Logistics, Energy and Utilities), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
IT Robotic Automation Market, by Component Type (Software, Services), Organization Size Type (Large Enterprises, Small- and Medium-sized Enterprises), Industry Application Type (BFSI, Pharmacy and Healthcare, Retail and Consumer Goods, IT and Telecom, Media and Education, Manufacturing, Transportation and Logistics, Energy and Utilities), and Region...
"The global IT robotic automation market is expected to grow from USD 5.12 billion in 2022 to USD 14.15 billion by 2029 at a CAGR of 15.6% during the forecast period."
IT robotic automation, also known as robotic process automation (RPA), is a software technology that automates repetitive and rule-based tasks typically performed by humans. It is designed to streamline business processes, reduce errors, and enhance productivity by using bots or software robots that mimic human actions.
These bots can perform tasks such as data entry, invoice processing, customer service, and other manual tasks, allowing employees to focus on more strategic work. IT robotic automation leverages artificial intelligence and machine learning to learn from human actions and improve over time, making it a valuable tool for organizations looking to optimize their operations and reduce costs.
There are several forces behind the dynamic market of IT robotic automation. Such factors include the evolving necessity of organizational efficiency and decreased operational costs, and the automation of business processes. Another factor that is driving the market for robotic process automation (RPA) software tools is the increasing instances of their use in large companies. Further, with increased digitization across various sectors, the agenda of RPA proves beneficial in enhancing business benefits and customer satisfaction. Still, the market is not devoid of a few challenges. These have been categorized as major constraints; high fixed costs and the unwillingness to move from mechanical systems. In the same way, there can be a challenge in finding advanced personnel to deploy and sustain RPA solutions in an organization. Nevertheless, the market is believed to expand when the elaboration of technology progresses deeper and more firms engage in RPA to redesign their business processes.
Segment Analysis
Component Insights
"The software segment accounted for the largest market share."
Based on the component type, IT robotic automation is categorized into software and services. The software segment captures robotic process automation (RPA) software, an application that mimics the activity of human operators in engaging with other systems. The services segment refers to implementation services, training services, and support services of RPA software. Among the two segments, the software segment is anticipated to have a larger market share because it is being widely used in different industries for purposes of automating processes and improving productivity.
Organization Size Insights
"The large-scale enterprises segment accounted for the largest market share."
Based on organization size, the IT robotic automation market is classified as small and medium-scale IT robotic automation industries as well as large-scale IT robotic Automation industries. The large-scale enterprises acquired the biggest share of the market and accounted for a revenue share of nearly 70% of the market in 2022. This is attributed to the scaled-up implementation of RPA in large firms in the quest to optimize business processes and enhance efficiency.
Regional Trends
"North America accounted for the largest market share."
In 2022, North America remained the dominant region in the IT robotic automation market, accounting for almost one-third of the global market revenue share. It is expected to maintain its leading position throughout the forecast period, mainly due to a large number of mid-sized and small enterprises leaning towards automation software. Europe captured the second-largest market share in 2022.
In contrast, Asia Pacific witnessed significant growth in 2022, buoyed by rising adoption rates of digitalization and automation over the years. However, factors such as different regulatory compliances and the limited availability of efficient infrastructure are seen as key reasons for the potential growth lag in the region.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the IT Robotic Automation Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
Recent Developments
In January 2023, Ushur, a leading vendor of secured and AI-powered Customer Experience Automation (CXA) solutions, entered into a strategic partnership with Sutherland, a business process transformation company. Ushur’s experience automation platform complements Sutherland’s experience transformation ecosystem, and the partnership enables both firms to reimagine and transform customer experience for the insurance and healthcare industries.
In September 2022, OutSystems, a leader in high-performance application development, and UiPath, a leading enterprise automation software company, formed a partnership to combine the power of OutSystems high-performance low-code with the UiPath Business Automation Platform. Together, they enable customers to securely and intelligently automate core business processes and applications, while improving efficiency, saving time, and delivering transformational app experiences.
In March 2022, SS&C completed acquisition of Blue Prism Group PLC. The acquisition improves SS&C's position as a leading vendor of software and services to the financial services and healthcare industries with high expertise in intelligent automation and RPA.
LOADING
LOADING
×
Please enter your contact details. It will allow our analysts to reach out to you.
IT robotic automation, also known as robotic process automation (RPA), is a software technology that automates repetitive and rule-based tasks typically performed by humans. It is designed to streamline business processes, reduce errors, and enhance productivity by using bots or software robots that mimic human actions.
The major players operating in the global IT Robotic Automation market are Blue Prism (SS&C), Tata Consultancy Services Limited, Amelia, Appian, Infosys Limited, Cognizant Technology Solutions Corp, Atos SE, Capgemini, Genpact Ltd., Automation Anywhere, Inc., Sutherland Global Services, Inc., UiPath SRL.
In 2022, North America remained the dominant region in the IT robotic automation market, accounting for almost one-third of the global market revenue share. It is expected to maintain its leading position throughout the forecast period, mainly due to a large number of mid-sized and small enterprises leaning towards automation software. Europe captured the second-largest market share in 2022.
IT robotic automation is widely used in various industry sectors to improve production rates without compromising quality. The factors driving the increasing adoption of robotic automation include cost reduction and enhanced efficiency offered by robotic automation over manual processes in the IT industry.
