IT Robotic Automation Market Outlook 2031:
The global IT robotic automation market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 15.7% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing demand for employees working remotely.
The robotic automation can be described as a precise technique that operates using input programs, which are based on algorithms and other software programs. Robotic automation refers to the ability of computer software or robots to execute several gigantic tasks that are normally not capable to be performed by humans.
The tasks has to be executed by following a set of rules or instructions that are programmed in the machine. Robotic process automation (RPA) technology is primarily deployed through software automation to accomplish IT robotic automation, which are widely incorporated in the manufacturing and service industries.
Some of the key functions of IT robotic automation include request management, access management, problem management, incident management, availability management, and monitoring. One of the key reasons for rising adoption of the robotic automation across industries is due to high labor costs and unavailability of suitable laborers for the manufacturing industries.
Considering the overall aspects, the automation helps to reduce operational costs, improve productivity, and enhance work quality of businesses. Manufacturers with high volume output and service levels usually deploy IT robotic automation solutions to ensure quality service and effective operations.
IT Robotic Automation Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for IT robotic automation solutions owing to the growing awareness about their benefits in the manufacturing and banking industries are driving the growth of the market.
- Ongoing technological advancements that help in the development of advanced featured robotics for various applications are anticipated to boost the market growth during the forecast period.
- Growing adoption of IT robotic automation solution by small and medium-sized businesses (SMEs) besides a wide implementation in large enterprises is expected to spur the market growth.
- Rising security concerns has encouraged manufacturers to deploy robotic solutions, which is speculated to positively influence the growth of the market.
- High cost of implementing IT robotic automation can act as a key challenge that is projected to hinder the market growth.
Scope of the IT Robotic Automation Market Report
The report on the global IT robotic automation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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IT Robotic Automation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Tools (Model-based Application Tools and Process-based Application Tools), Services (Professional [Consulting, Integration & Development, and BPO] and Training), and Technology (Voice Recognition, Digital Detection, IVR System, Back Office Data-driven Process, Internet Retailer & Service Provider, and Remote Infrastructure)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IPSoft Inc., BluePrism Ltd., Be Informed BV, Automation Anywhere Inc., Tata Consultancy Services, Accenture PLC, Sutherland Global Services, Cognizant Technology Solutions, Hewlett Packard Company, and Infosys Ltd.
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Global IT Robotic Automation Market Segment Insights
Process-based application tools segment to account for a key share
Based on tools, the market is bifurcated into model-based application tools and process-based application tools. The process-based application tools segment accounted for a key share of the market in 2020 and is expected to grow significantly during the forecast period owing to the increasing demand for process-based tools automation.
Robotic process automation tools primarily work on the basis of Optical Character Recognition (OCR), Optical Mark Recognition (OMR), text, audio, video, and other file formats. These formats are widely used to keep records of business processes and minimize human effort and time.
Professional segment is expected to dominate the market
Based on services, the global IT robotic automation market is bifurcated into professional and training. The professional segment is further sub-segmented into consulting, integration & development, and BPO. The professional segment is expected to dominate the market in the coming years owing to rising adoption of the robotic machines for consulting activities.
Many companies are focused on delivering consulting services such as product deployment, installation, engineering, configuration, and maintenance to several business organizations. In May 2019, NEOOPS, a Blue Prism Inc., as a certified and delivery training partner, began providing technology consultancy and training to the company. With the use of AI technologies, these services can assist clients in automating the end-to-end operation.
The BPO segment is anticipated to grow during the forecast period. In the BPO industry, robotic process automation can be used to streamline different processes and solve global business problems such as labor arbitrage, addressing customer requests, and managing complex datasheets. Robotic process automation platform is being used by BPO providers all over the world to minimize staff, simplify query handling, and improve operational efficiency.
Digital detection segment holds a key share in the market
Based on technology, the market is segmented into voice recognition, digital detection, IVR system, back office data-driven process, internet retailer & service provider, and remote infrastructure. The digital detection segment is projected to hold a key share in the market during the forecast period. The volume and variety of information assets of enterprises are increasingly exchanged and circulated using digital platforms, which make these information vulnerable to external and internal frauds.
As a result, there is a high demand in the industry for digital detection systems to protect public and private property. Therefore, this helps to increase the adoption of the automation that is expected to boost the segment growth.
North America to dominate the market
Based on regions, the global IT robotic automation market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to account for a major market share during the forecast period. The early adoption of latest technology and wide adoption of IT robotics from the manufacturing industries based in the region are key driving factors for the regional market growth.
However, the market in Europe is expected to grow at a healthy rate owing to the increasing investments by big technology companies in the region. Conversely, Asia Pacific is anticipated to represent a significant market share owing to rapid industrialization and growing demand for IT solutions to automate the manufacturing process and services.
Segments
The global IT robotic automation market has been segmented on the basis of
Tools
- Model-based Application Tools
- Process-based Application Tools
Services
- Professional
- Consulting
- Integration & Development
- BPO
- Training
Technology
- Voice Recognition
- Digital Detection
- IVR System
- Back Office Data-driven Process
- Internet Retailer & Service Provider
- Remote Infrastructure
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- IPSoft Inc.
- BluePrism Ltd.
- Be Informed BV
- Automation Anywhere Inc.
- Tata Consultancy Services
- Accenture PLC
- Sutherland Global Services
- Cognizant Technology Solutions
- Hewlett Packard Company
- Infosys Ltd
Competitive Landscape
Some of the major players in the global IT robotic automation market are IPSoft Inc., Blue Prism Ltd., Be Informed BV, Automation Anywhere Inc., Tata Consultancy Services, Accenture PLC, Sutherland Global Services, Cognizant Technology Solutions, Hewlett Packard Company, and Infosys Ltd. Some of these players are adopting several market strategies to enhance their market position.
Blue Prism Ltd. provides automation tools as well as a production toolkit and methodologies that can help companies to build automatic business processes using robotics. The machine works without human intervention. It is also expected that the software aims to minimize reliance on offshoring. IPSoft Inc.
offers infrastructure maintenance software, known as IPCenter software, which is capable of tracking, diagnosing, remediating, and rescaling accidents and events. The company also provides process management software. This software is expected to take the support tasks previously performed by major Indian vendors.
Cognizant acquired Trizetto, a healthcare process automation (HPA) platform, which was projected to help the former company to provide automation applications in the BFSI industry. The former company used its products, Automatika and ADPART, to simplify test case construction and forecast weak market process.
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