The robotic automation process market is segmented by type of Process into automated solution, decision support and management Solution; by type into tools; by Operation into rule based and knowledge based operation; by Industry into IT, telecommunication, manufacturing & logistics and by region. The robotic automation process market is anticipated to record a CAGR of around 30.08% over the forecast period i.e. 2019-2027.
Latest technologies with advanced equipment have become the necessary part of engineering industries. Manufacturers are now focused on providing efficient equipment and services to their consumers. Additionally, demand for new engineering tools, such as Selenium and Katalon Studio, is increasing owing to growing demand for automation. Automation has resulted in minimizing production time and cost by eliminating the scope of manual error.
On the basis of regional analysis, the robotic automation process market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is anticipated to dominate the robotic automation process market owing to growing digitalization and growth in automation software industry. With growing demand for automation services and solutions, market of Asia Pacific is expected to observe a substantial growth over the forecast period. The market of North America is expected to be followed by Asia Pacific owing to increasing demand for machine learning, robots and artificial intelligence.
Demand for Virtual Workforce
Virtual workforce had expanded horizons in new technical advancements for businesses. With increasing interest for virtual workforce universally, especially in business procedure administration, computerization along with programming can assist with any data recovery and structure fundamental substance. This is required to answer client queries or grievances in characteristic language such as M-Code, C-Code & CNC Machinery.
Digitalization can give industries an upper hand by improving their business operations. Utilizing innovative solutions give consumers a focused edge in their business world and a proper digitalization plan can help in improving quality of production.
However, high cost of automation and robots are anticipated to be a key restraint for the growth of robotic automation process over the forecast period. There is a requirement for high initial investment and is highly dependent on the availability of highly skilled resources to program the systems to work at their optimum performance. With the rise in cost of parts and raw materials, manufacturing companies are taking appropriate steps in order to minimize the initial investment. Moreover, regular maintenance of the technical equipment results in increasing the cost. Further, digitalization and modernization has increased the cost of equipment.
The report titled “Robotic Automation Process Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of robotic automation process market in terms of market segmentation by type of process, by operation, by industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the robotic automation process market which includes company profiling of Blue Prism, Automation Anywhere, Celation Ltd, Ipsoft, Nice Systems Ltd, Pegasystems, Redwood Software, Uipath, Verint, Xerox Corporation, CGI Group, Infosys Limited and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the robotic automation process market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.