Robotic process automation is being employed in industries such as banking, financial services, and insurance; healthcare and pharmaceuticals; manufacturing and logistics; telecom and IT; retail and consumer goods; travel, hospitality, and transportation; energy and utility; government; and academic. The market for robotic process automation is estimated to reach USD 2,467.0 Million by 2022, at a CAGR of 30.14% between 2017 and 2022
Key market players include Automation Anywhere (U.S.), Blue Prism (U.K.), IPSoft (U.S.), Nice Systems Ltd. (Israel), and Pegasystems (U.S.). They have been focusing on new product launches, research and development, acquisitions, and collaborations to enhance their product offerings and expand their business.
Blue Prism Group Plc is a prominent global vendor that provides robotic process automation solutions across verticals. The company offers its solutions and services to streamline and integrate back office operations. It focuses on keeping its customers informed about the evolving market trends in the robotic process automation. The Company is a pioneer in robotic process automation and has its own platform, which provides it a robust sales channel.
Automation Anywhere (U.S.) offers its services within a variable price range, depending on the business operations of various industries. The company is completely self-financed and has a high-margin business revenue model with a large client base, including Tesco PLC (U.K.), Dell Inc. (U.S.), PricewaterhouseCoopers LLP (U.S.), Australia and New Zealand Banking Group (Australia), and General Motors Corporation (U.S.). Along with desktop automation, the company also focuses on the development of Testing Anywhere MOBILE—a multi-platform test automation solutions for Android and iOS.
NICE Systems Ltd., provides robotic process automation solutions for contact centers, back office operations, and retail functions of various industries, including communications, banking, insurance, and healthcare, BPO, government, utilities, travel, and entertainment. NICE Systems spent USD 128.5 million on R&D in 2015. NICE provides robotic process automation services to financial institutions to prevent fraud and money laundering activities, and comply with regulatory guidelines. The company helps the BFSI industry to prevent real-time and cross-channel fraud and money laundering, and ensure brokerage compliance and enterprise-wide case management. Its solutions monitor millions of financial transactions on a daily basis and enable organizations to reduce the risk of financial crime, improve compliance, and lower operational costs.
Other companies in the robotic process automation market are Redwood Software (U.S.), Celaton LTD (U.K.), UiPath (Romania), Verint (U.S.), and Xerox Corporation (U.S.).
Robotic Process Automation Market by Process (Automated solution, Decision Support & Management Solution, and Interaction Solution), Operation (Rule Based and Knowledge Based), Type (Tools and Services), Industry, and Geography - Global Forecast to 2022
See Also: Process Automation and Instrumentation
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