IT robotic automation, configures a software which can interpret and capture the actions of surviving applications employed in several business processes and prove to be huge beneficial for various organizations. IT robotics automation includes advanced analytics and process automation in processes and operations at economical prices. Increasing adoption of IT robotic automation in F&A (Finance and Accounting) sector is one of the key factors fueling the growth of the market. Availability management, incident management, monitoring, request management, and problem management are some of the few basic processes that can be managed by Robotic Process Automation (RPA). The main difference between traditional business process automation and Robotic Process Automation(RPA) is like comparing a car using cruise control versus a driverless robotic car. RPA combines automation along with the awareness and adaptability of artificial intelligence. The merits of RPA include low operational costs, improved data analytics, high efficiency, high regulatory compliance, high employee productivity, improved accuracy, high customer satisfaction and others. Moreover, technological advancement in the field of IT robotics automation reduces errors and thereby also increases efficiency which makes the market demanding during the projection period of 2017-2025.
IT robotics automation provides several benefits in various sectors which include banking, healthcare and insurance industries. Some of the benefits include fraud chargeback processing, direct debit cancellations, excess transaction approvals, excess check approvals, data cleansing, payment processing, new loan product blitz, customer complaints automation and others. In addition to this, increasing demand for modernizing in traditional business processes for boosting customer satisfaction and improving productivity in various industries leads to an uptake of IT robotic automation market. Moreover, rising applications of robotic automation in infrastructure management and BPO sectors, fuels the market growth during the forecast period.However, plenty of government contracts and policies which include competitive bidding, provider evaluations and negotiations may affect the implementation of the technology during the projection period.
The IT robotics automation market in report is segmented by operation which includes rule-based, and knowledge based.Moreover, on the basis of tool, the market has been segmented as model-based application, process-based application. Further down, the IT robotics automation market has been segmented by services which includes training and professional services which is further sub-segmented as integration and development, consulting and BPO.The global IT robotics automation market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Rising focus on customer satisfaction and need to decrease errors for better productivity are propelling the growth of robotic automation across the globe. Technological advancement and creativity by leading vendors has made the market more demanding. Moreover, increasing adoption of robotic automation in various sectors such as finance & accounting, healthcare, banking has resulted in development of robotics automation. The increasing use of robotic services in IT sectors for task allocation, automating invoicing, query handling, payment processing and data integration, creates a high growth opportunity of IT robotic automation market during the forecast period.
Some of the major players in the global IT robotic automation market include Infosys Limited, IPSoft Inc., Sutherland Global Services Inc., Blue Prism and few to be named.
Global IT Robotic Automation Market: By Operation
Global IT Robotic Automation Market: By Tool
Global IT Robotic Automation Market: By Services
Global IT Robotic Automation Market: By Geography