IT Robotic Automation Market Increasing at An exceptional Pace to Reach around USD 7,292 Million by 2028 - Zion Market Research

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Oct 25, 2021, 12:30 ET

NEW YORK, Oct. 25, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "IT Robotic Automation Market by Application (Healthcare, Banking, Utilities, Other), By Tools (Process Based Application Tools, Model-Based Application Tools): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028". According to analysts at Zion Market Research, the global IT Robotic Automation market accounted for more than USD 1,141 Million in 2020 and is expected to reach USD 7,292 Million by 2028, growing at a CAGR of 26.1% from 2021 to 2028.

Increase in virtual workforce worldwide to Spur Growth

The increasing demand for the virtual workforce worldwide has been recently driving this market. The rising adoption of Artificial Intelligence and the cloud-based solutions are also the reasons for the demand for IT Robotic Automation. The adoption of software robots to manage the repetitive work carried out by staff is also the reason driving the market. Also, growing deployment of SaaS, IaaS and PaaS for the customer relationship management, open-source resources, network connectivity and other applicable financial services is making the demand increase for IT Robotic Automation.

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The IT Robotic Automation services provide high scalability for increasing or decreasing the production levels at a reduced cost. Therefore, in the industries where demand for products and services is seasonal, the robotic automation effectively helps throughout at fixed quality and service levels. Due to the increasing adoption of Automation Software in finance and accounting sector, there is high demand for IT Robotic Automation.

With the presence of a large pool of participants, the global IT Robotic Automation is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR Blue Prism, Automation Anywhere, UiPath are some of the key vendors of IT Robotic Automation market across the world. These players across IT Robotic Automation market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the IT Robotic Automation market study.

Increasing usage of Automation solutions among the organizations In the Region Support North American Dominance

Regionally, North America has been leading the worldwide IT Robotic Automation market and is anticipated to continue on the dominant position in the years to come, states the IT Robotic Automation market study. Due to the high penetration rate of process management and automation solutions among the organizations and government agencies, the demand for the IT Robotic Automation solutions is high in this region. Also, the increased awareness of using these tools to improve various business functions of accounting/finance, data entry, procurement detail and HR related processes is one of the reasons for the higher demand. The U.S government has been encouraging other government agencies to implement such solutions using Robotic Automation and this has fostered the overall demand for IT Robotic Automation market.

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Major companies in IT Robotic Automation market Blue Prism, Automation Anywhere, UiPath, NICE, Pegaystems, KOFAX, Inc., NTT Advanced Technology Corp., EdgeVerve Systems, FPT Software, HelpSystems, OnviSource, Inc., Cognizant Technology Solutions, Infosys, Genpact Ltd., Appian Corporation, Sutherland Global Services, Genfour, Ipsoft, Tata Consultancy Services and Capgemini among others. These players are set to bolster the development of global IT Robotic Automation market.

The global IT Robotic Automation Market is segmented as follows:

By Application

HealthCare
Banking
Utilities

By Tools

Process Based Application
Model Based Application

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By Region

North America

The U.S.
Canada

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

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