Demand for Elimination of Human Errors and Reduced Labour Expenses to Trigger Growth of the Global IT Robotic Automation Market, Market to Clock Phenomenal Growth of 28.1% CAGR over the Forecast Period - TMR

- Robotic process automation (RPA) techniques and tools are deployed by end users in the IT robotic automation industry so as to automate a diverse range of business processes.

- Organizations that invest a lot of money on labour are more likely to use robotic automation to improve their capabilities while saving time and money.

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Jun 24, 2021, 10:30 ET

ALBANY, N.Y., June 24, 2021 /PRNewswire/ -- Robotic process automation (RPA) techniques and tools are extensively being used by end users in the IT robotic automation market to automate a diverse range of corporate processes. Over time, chief information officers (CIOs) in corporations and enterprises have adopted new RPA tools to address various circumstances. Financial services businesses have been early adopters of IT robotic automation, as seen by the use of bots to deliver client value. The prospects were fuelled by the benefits of IT robotic automation for such businesses. Reduced labour expenses and human errors, for example, are important commercial arguments. A wide range of cognitive technologies has broadened the scope of this technology, which is estimated to support development of the global IT Robotic Automation Market in the years to come.

In recent years, the increasing demand of intelligent automation has aided industry participants in carving out new specialised offers. New RPA scenarios are widening the horizon for proponents in the global IT robotic automation market, as seen by large companies' successful and widespread implementation of the RPA software application. The possibilities of IT process automation technologies are being expanded, thanks to breakthroughs made in cognitive computing.

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The global IT robotic automation market is predicted to grow at a phenomenal rate 28.1% CAGR over the analysis timeframe, from 2018 to 2026. Navigation has been difficult in several RPA settings due to the high cost and intricacy of technology settings. The use of IT robotic automation has also been hampered by regulations.

Key Findings of Market Report

High Efficiency and Reduced Cost to Spur Growth of the Market

Organizations that spend a lot of money on labour are more likely to use robotic automation to improve their capabilities whilst saving both money and time. Back-office tasks, support processes, IT administration and workflow processes, and business operations have all been changed by robotic automation. In addition to that, automation allows for enhanced productivity and accuracy in process transactions, as well as improving the nature and quality of work by removing individuals from boring and repetitive activities. IT robotic automation can be used in a variety of industries to increase production rates without sacrificing quality.

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Reduced costs and increased efficiency achieved by robotic automation over human procedures in the IT industry are amongst the drivers likely to boost its widespread adoption. Because of these advantages, robotic automation has seen widespread acceptance in IT applications like application management, business process outsourcing (BPO) management, and infrastructure management. In addition to that, the increased adoption of cloud-based solutions is expected to enhance the IT robotic automation market in the years go come. Organizations are also looking for new solutions to help them deal with the issues that come with working in a dynamic environment. Another reason driving the growth of the global IT robotic automation market is the increasing complexity of IT operations and administration, which necessitates the use of robotic intervention.

Increased Awareness and Adoption to Cause Expansion in Developed Nations

The North American region is likely to have a leading position in the global IT robotic automation market over the projected period, from 2018 to 2026. Due to the increase of automation and a greater adoption of process management solutions in the region, the IT robotic automation market is expected to observe high growth. In addition, the virtual workforce is expanding and evolving in the region. In the US, companies such as 10up and appendTo are helping to expand the regional business.

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Nevertheless, it is worth noting that, due to rising levels of awareness about the advantages of automation, the Asia Pacific region is anticipated to emerge as the rapidly expanding region in the global IT robotic automation market.

IT Robotic Automation Market: Growth Drivers

Across several RPA situations, navigation has been problematic due to the high cost and intricacy of technological settings. Regulations have also proven to be a barrier to IT robotic automation deployment.
Companies that spend a lot of money on labour are more inclined to make use of robotic automation to improve their abilities whilst saving both time and money. IT administration and support processes, business operations, back-office task, and workflow processes have all been changed by robotic automation.

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IT Robotic Automation Market: Key Competitors

Cognizant Technology Solutions Corp.
Tata Consultancy Services Limited.
Automation Anywhere, Inc.
Be Informed B.V.
Genpact Ltd.
Blue Prism

IT Robotic Automation Market: Segmentation

Solution

Tools
Services

Tools

Model-based
Process-based

Services

Professional
Training

Professional

Consulting
Integration and Development
BPO

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