Global Cognitive Robotic Process Automation Market to 2026: Market is estimated to generate a revenue of $50.0 million in 2017 and is forecast to grow at a CAGR of 60.9% during 2017-2026
DUBLIN, Dec. 20, 2017 /PRNewswire/ --
The "Global Cognitive Robotic Process Automation Market, Analysis & Forecast 2017-2026 Focus on Type (Services and Platform) and Industry (Finance and banking, Telecom and IT Services, Insurance and Healthcare)" report has been added to Research and Markets' offering.
Global cognitive robotic process automation market is estimated to generate a revenue of $50.0 million in 2017 and is forecast to grow at a CAGR of 60.9% during 2017-2026.
North America is expected to acquire most of the revenue in the global cognitive robotic process automation market in 2017 with the U.S. acquiring most of the market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2017-2026.
Cognitive RPA is becoming one of the fastest moving technologies that is helping the enterprises to automate their complex repetitive tasks done by humans which takes lot of time and efforts. RPA technology vendors are integrating cognitive capabilities within RPA platforms for making it more advanced and intelligent. Global cognitive robotic process automation market is rapidly growing due to increasing adoption of digital workforce across different industries. Cognitive technologies integrated within robotic process automation helps to automate complex repetitive tasks by enabling decision making capabilities.
This helps to carry out activities such as data entry and reconciliations. Cognitive automation requires human assistance only in cases where it encounters some of the unknown problems and queries. Cognitive robotic process automation learns from the human operator in order to improve its automation capabilities for the next time if it encounters the same problem.
This high scale growth of cognitive robotic process automation industry is subsequently influencing the market, wherein new cognitive technologies are being developed. The increasing interest towards the adoption of digital workforce in order to reduce cost and increase efficiency is considered to be the key drivers for its increased adoption across multiple industries.
Moreover, developments in the cognitive technologies as well as the increasing demand of automation from financial sector is providing an opportunity for the growth of the global cognitive robotic process automation market. There are mainly two types of cognitive robotic process automation market that includes services and platforms. In addition to this, the market of cognitive robotic process automation platform is expected to have the highest growth rate during the forecast period 2017-2026 due to the high demand across Asia-Pacific region.
Key Topics Covered:
Executive Summary
1 Scope & Research Methodology
1.1 Research Scope
1.2 Global Cognitive Robotic Process Automation Market Research Methodology
2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Adoption of Digital Workforce
2.1.2 Non-Invasive Nature Along with Increased Accuracy
2.1.3 Reduction in Operational Cost
2.2 Market Challenges
2.2.1 Threat to the Global Employment
2.3 Market Opportunities
2.3.1 Increasing Utilization of Cognitive Robotic Process Automation in Financial Sector
2.3.2 Advancements in Cognitive Technology
3 Competitive Insights
3.1 Competitive Landscape
3.2 Strategic Benchmarking
3.3 Key Strategies and Developments
3.4 Market Share Analysis
3.5 Industry Attractiveness: Porter's Five Forces Analysis
4 Industry Analysis
4.1 Process Automation Available Modes
4.2 Transformation of RPA into Cognitive Robotic Process Automation
4.3 Product Offering Analysis
4.4 Value Chain Analysis
5 Global Cognitive Robotic Process Automation Market, 2017-2026
5.1 Assumptions and Limitations
5.2 Market Overview
6 Global Cognitive Robotic Process Automation Market, by Type
6.1 Market Overview
6.2 Services
6.3 Platform
7 Global Cognitive Robotic Process Automation Market, by Industry
7.1 Market Overview
7.2 Finance & Banking
7.3 Telecom and IT Services
7.4 Insurance
7.5 Healthcare
7.6 Others
8 Global Cognitive Robotic Process Automation Market, by Region
9 Company Profiles
- Arago
- Automation Anywhere
- Blue Prism
- Celaton Ltd.
- IBM
- IPsoft
- Kofax
- Kryon Systems
- NICE Systems Ltd.
- Pegasystems Inc.
- Redwood software Inc.
- Thoughtonomy ltd
- UiPath
- Verint System Inc.
- WorkFusion
For more information about this report visit https://www.researchandmarkets.com/research/5xjxzc/global_cognitive?w=5
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