[310 Pages Report] The global IT robotic automation market size was valued at US$ 4.1 Billion in 2021 and is projected to grow at a compound annual growth rate of 15.7%, reaching US$ 22.8 Billion by 2032 from US$ 5.3 Billion in 2022.
| Attributes | Details |
|---|---|
| IT Robotic Automation Market CAGR (2022 to 2032) | 15.7% |
| IT Robotic Automation Market Size (2022) | US$ 5.3 Billion |
| IT Robotic Automation Market Size (2032) | US$ 22.8 Billion |
SMEs are rapidly adopting Artificial Intelligence technologies and cloud-based solutions to improve business operations. This is leading to steady market growth. As cloud-based and robotic solutions are increasingly being adopted across various industries, robotic process automation opportunities are expected to grow exponentially throughout the world.
Demand for digitization is growing in various industries, while better business outcomes and better customer service will help further drive the market for IT robotic automation in the future.
In conjunction with AI algorithms, RPA, and machine learning solutions can help deal with unstructured and semi-structured data. Large enterprises are increasingly favoring the delivery of invoices via IT robotic automation then which will further boost the growth of the market for IT robotic automation. With a growing number of technological innovations and developments, a great deal of customer support may be required in order to boost the value of the product, which has further boosted the demand for robotic automation in the market.
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Across industries such as healthcare, telecom, insurance, travel, and banking, automation is being relied upon to speed up the production process, increasing efficiency and cutting costs. Companies need to reduce the time it takes to launch new products in a highly competitive market. Production timelines and errors in finished products are significantly reduced by robotic process automation. A combination of factors including the factors above as well as impressive improvements in industrial automation technologies accounts for the astounding growth statistics.
In an effort to encourage the growth of the robotic process automation (RPA) market, the rapid emergence of new technologies such as cyber-physical systems, the Internet of Things, machine learning, cloud computing, and artificial intelligence (AI) has been observed. Labor-intensive organizations are more likely to improve their performance with robotic automation while saving both time and money. Automation of some business processes, IT management, software support, and workflow processes, as well as back office work, has revolutionized the way the process is administered. Additionally, automation can improve productivity by improving accuracy, eliminating boring, repetitive work, and improving the quality of work.
Robotic automation can be used to increase production rates without sacrificing quality. Robotic automation is being adopted widely by the IT industry due to its low cost and increased efficiency when compared to manual processes. Due to its benefits, robotic automation is increasingly popular in business process outsourcing (BPO), application, and infrastructure management. Furthermore, the market's growth is expected to be driven by the increasing adoption of cloud-based solutions. A dynamic environment also makes organizations look for new technologies. Other factors driving the growth of the IT robotic automation market include increasing complexity in IT operations and management.
The rapid growth of the robotic automation market can be slowed by challenges associated with infrastructure and customization. A firm must invest in a reliable infrastructure to implement a process automation solution, as well as a professional team to review the entire process. Installation of various bots requires complex infrastructure, hiring of professional employees, and training of existing employees.
As a result of the high cost of the automation process, installation, and the requirement of skilled professionals, this process has become increasingly difficult, which has hindered the growth of the market. The costs associated with the maintenance and services of robotics in the market and their upgrades added to hamper the advancement of the market in these sectors.
Hidden costs, a lack of real-time visibility into the steps the robot is performing, and no strategic value as a stand-alone technology also hamper the market growth. During the global pandemic, both internal, as well as external business processes, were affected. A drop in business has hit IT industries, while healthcare has been overwhelmed by COVID-19. The occurrence of this unusual event-triggered various problems both inside and outside the office, affecting the business in many ways, including extending response times, causing burnout among staff members, causing paperwork backlogs, and causing supply chain interruptions, among other things.
Principal Consultant
With an anticipated CAGR of 32% from 2022 to 2032, the services segment is expected to continue to lead the global market over the next few years. The service segment is further segmented into professional and training applications. As enterprises face increased competition among themselves, service providers have been urged to improve the quality of their consulting, integration, development, and BPO services.
RPA as a service is gaining popularity due to continuous upgrades in automation that make it scalable and easy to use. The service helps organizations in identifying opportunities for automation, building business cases, selecting the right vendors, and moving forward. Consulting services account for a significant share of the market value. The tech industry has benefited from a new era of cost-effective alternatives that are now being considered by organizations in emerging markets. Therefore, organizations that are interested in robotic process automation are in need of consulting services.
With numerous economically and technologically advanced countries represented in the market, North America is projected to grow at a CAGR of 34.7% over the forecast period. According to the forecast, the market's value is expected to reach US$ 42.2 Billion by the end of the forecast period.
A growing millennial population, as well as a growing geriatric population, are driving the need for advanced consumer products that require precision. Automating robotic processes can help buyers achieve the same level of accuracy while having speed and agility. Government agencies and private enterprises in the area are using automation technologies and process management solutions at a high rate.
SMEs in North America are increasingly leveraging robotic process automation as another means of improving a variety of business activities, including planning & estimating, financial management, supply chain management, and a variety of HR-related tasks, which contribute to the market's growth.
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Asia Pacific to Emerge as a Highly Opportunistic Region
Asia's growing economy is home to many IT companies, outsourcing companies, and manufacturing firms which rely heavily on automation to minimize repetitive work, supporting the region's growth. The increased investments in research and development activities and technology developments in these regions are stimulating the market growth of IT robotic automation in these regions.
Japan accounts for the highest market value of IT robotics automation with a market value of US$ 1.6 Billion during the forecast period. The market is projected to grow at a CAGR of 28.2% during the forecast period. A partnership between FPT Software and USA-based Sitecore, a provider of digital experience software and automated marketing solutions, was announced in June 2021, so that Sitecore would be available in Japan to a broad range of businesses. Several enterprises in Japan will benefit from the partnership.
In terms of growth rate, India has a compound annual growth rate of 19.3%, followed by China, which has an annual growth rate of 18.6%. The rise of solutions and services across health care, pharmaceutical, information technology, manufacturing, and retail industries has fueled the growth. In addition, a growing awareness of automation, specifically among SMEs, and the rise of automation in the BPO sector contribute to the region's favorable market growth.
What are the Growth Prospects for IT Robotic Automation across the USA and the UK?
During the forecast period, the IT robotic automation market in the UK is expected to grow at a compound annual growth rate of 16.1%. From manufacturing to banking, finance, and insurance (BFSI), robotic automation is now finding its way into automating repetitive tasks across all sectors.
Currently, financial firms are undergoing a transformation strategy that focuses on automating processes to improve operational efficiency. In the financial services market, automated accounting and reporting processes are contributing to growth due to increasing interest in digital solutions for optimizing business speed.
The USA IT robotic automation market is anticipated to account for 15.7% of the total market revenue share in 2032, driven by the increase in the use of cloud technologies, an increase in the use of IoT, and the existence of many companies. The cloud-based software services market in the USA is experiencing rapid growth due to the region's early implementation of automation in various industries and subsequent technological innovations, which makes it an ideal environment for expansion.
Strategic partnerships enable manufacturers to increase production and meet consumer demand, thereby increasing both revenue and market share. End users will reap the benefits of new technologies through the introduction of new products and technologies. One benefit of a strategic partnership is that it increases the company's production capacity.
IT Robotic Automation Market Developments
The IT robotic automation market is expected to grow at a steady CAGR of 15.7% over the forecast period
The global market for IT robotic automation was valued at US$ 4.1 Billion as of 2021
IT robotic automation services are projected to experience maximum growth, with a CAGR of 32%
North America leads the global IT robotic automation market with a CAGR of 34.7% during the forecast period
The market for IT robotic automation is expected to grow by nearly US$ 22.8 Billion by 2032
It is projected that Japan's economy will grow at a CAGR of 28.2% during the period of forecast
1. Executive Summary | IT Robotic Automation Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Global Market (US$ Million)
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in Optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Market Growth
4.5.3. Adoption Rate, by Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2016 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2016 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2016 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2016 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Application
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Application, 2016 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Application, 2022 to 2032
8.3.1. Tools
8.3.1.1. Model-based Application Tools
8.3.1.2. Process-based Application Tools
8.3.2. Services
8.3.2.1. Professional Services
8.3.2.1.1. Consulting Services
8.3.2.1.1.1. Application Management Services
8.3.2.1.1.2. Infrastructure Management Services
8.3.2.1.2. Integration and Development Services
8.3.2.1.2.1. Application Management Services
8.3.2.1.2.2. Infrastructure Management Services
8.3.2.1.3. BPO
8.3.2.2. Training
8.4. Market Attractiveness Analysis By Application
9. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region
9.1. Introduction
9.2. Historical Market Size (US$ Million) Analysis By Region, 2016 to 2021
9.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032
9.3.1. North America
9.3.2. South America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032
10.1. Introduction
10.2. Pricing Analysis
10.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
10.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
10.4.1. By Country
10.4.1.1. United States of America
10.4.1.2. Canada
10.4.2. By Application
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Application
11. South America Market Analysis 2016 to 2021 and Forecast 2022 to 2032
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
11.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
11.4.1. By Country
11.4.1.1. Brazil
11.4.1.2. Mexico
11.4.1.3. Rest of South America
11.4.2. By Application
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Application
12. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
12.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. Germany
12.4.1.2. France
12.4.1.3. United Kingdom
12.4.1.4. Italy
12.4.1.5. Benelux
12.4.1.6. Nordic Countries
12.4.1.7. Rest of Europe
12.4.2. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Application
13. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
13.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. China
13.4.1.2. Japan
13.4.1.3. South Korea
13.4.1.4. Rest of Asia Pacific
13.4.2. By Application
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Application
14. Middle East and Africa Market Analysis 2016 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. GCC Countries
14.4.1.2. South Africa
14.4.1.3. Turkey
14.4.1.4. Rest of Middle East and Africa
14.4.2. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Application
15. Key Countries Market Analysis 2016 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.1.1. Market Value Proportion Analysis, By Key Countries
15.1.2. Global Vs. Country Growth Comparison
15.2. US Market Analysis
15.2.1. Value Proportion Analysis by Market Taxonomy
15.2.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.2.2.1. By Application
15.3. Canada Market Analysis
15.3.1. Value Proportion Analysis by Market Taxonomy
15.3.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.3.2.1. By Application
15.4. Mexico Market Analysis
15.4.1. Value Proportion Analysis by Market Taxonomy
15.4.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.4.2.1. By Application
15.5. Brazil Market Analysis
15.5.1. Value Proportion Analysis by Market Taxonomy
15.5.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.5.2.1. By Application
15.6. Germany Market Analysis
15.6.1. Value Proportion Analysis by Market Taxonomy
15.6.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.6.2.1. By Application
15.7. France Market Analysis
15.7.1. Value Proportion Analysis by Market Taxonomy
15.7.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.7.2.1. By Application
15.8. Italy Market Analysis
15.8.1. Value Proportion Analysis by Market Taxonomy
15.8.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.8.2.1. By Application
15.9. BENELUX Market Analysis
15.9.1. Value Proportion Analysis by Market Taxonomy
15.9.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.9.2.1. By Application
15.10. UK Market Analysis
15.10.1. Value Proportion Analysis by Market Taxonomy
15.10.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.10.2.1. By Application
15.11. Nordic Countries Market Analysis
15.11.1. Value Proportion Analysis by Market Taxonomy
15.11.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.11.2.1. By Application
15.12. China Market Analysis
15.12.1. Value Proportion Analysis by Market Taxonomy
15.12.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.12.2.1. By Application
15.13. Japan Market Analysis
15.13.1. Value Proportion Analysis by Market Taxonomy
15.13.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.13.2.1. By Application
15.14. South Korea Market Analysis
15.14.1. Value Proportion Analysis by Market Taxonomy
15.14.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.14.2.1. By Application
15.15. GCC Countries Market Analysis
15.15.1. Value Proportion Analysis by Market Taxonomy
15.15.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.15.2.1. By Application
15.16. South Africa Market Analysis
15.16.1. Value Proportion Analysis by Market Taxonomy
15.16.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.16.2.1. By Application
15.17. Turkey Market Analysis
15.17.1. Value Proportion Analysis by Market Taxonomy
15.17.2. Value & Analysis and Forecast by Market Taxonomy, 2016 to 2032
15.17.2.1. By Application
15.17.3. Competition Landscape and Player Concentration in the Country
16. Market Structure Analysis
16.1. Market Analysis by Tier of Companies
16.2. Market Concentration
16.3. Market Share Analysis of Top Players
16.4. Market Presence Analysis
16.4.1. By Regional Footprint of Players
16.4.2. Product Footprint by Players
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive
17.3.1. Blue Prism
17.3.1.1. Overview
17.3.1.2. Product Portfolio
17.3.1.3. Sales Footprint
17.3.1.4. Strategy Overview
17.3.2. Be Informed B.V.
17.3.2.1. Overview
17.3.2.2. Product Portfolio
17.3.2.3. Sales Footprint
17.3.2.4. Strategy Overview
17.3.3. Appian
17.3.3.1. Overview
17.3.3.2. Product Portfolio
17.3.3.3. Sales Footprint
17.3.3.4. Strategy Overview
17.3.4. Amelia
17.3.4.1. Overview
17.3.4.2. Product Portfolio
17.3.4.3. Sales Footprint
17.3.4.4. Strategy Overview
17.3.5. Tata Consultancy Services Limited
17.3.5.1. Overview
17.3.5.2. Product Portfolio
17.3.5.3. Sales Footprint
17.3.5.4. Strategy Overview
17.3.6. Infosys Limited
17.3.6.1. Overview
17.3.6.2. Product Portfolio
17.3.6.3. Sales Footprint
17.3.6.4. Strategy Overview
17.3.7. Cognizant Technology Solutions Corp
17.3.7.1. Overview
17.3.7.2. Product Portfolio
17.3.7.3. Sales Footprint
17.3.7.4. Strategy Overview
17.3.8. Atos SE
17.3.8.1. Overview
17.3.8.2. Product Portfolio
17.3.8.3. Sales Footprint
17.3.8.4. Strategy Overview
17.3.9. Capgemini
17.3.9.1. Overview
17.3.9.2. Product Portfolio
17.3.9.3. Sales Footprint
17.3.9.4. Strategy Overview
17.3.10. Genpact Ltd.
17.3.10.1. Overview
17.3.10.2. Product Portfolio
17.3.10.3. Sales Footprint
17.3.10.4. Strategy Overview
17.3.11. Automation Anywhere, Inc.
17.3.11.1. Overview
17.3.11.2. Product Portfolio
17.3.11.3. Sales Footprint
17.3.11.4. Strategy Overview
17.3.12. Sutherland Global Services, Inc.
17.3.12.1. Overview
17.3.12.2. Product Portfolio
17.3.12.3. Sales Footprint
17.3.12.4. Strategy Overview
17.3.13. UiPath SRL
17.3.13.1. Overview
17.3.13.2. Product Portfolio
17.3.13.3. Sales Footprint
17.3.13.4. Strategy Overview
18. Assumptions and Acronyms Used
19. Research Methodology
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IT Robotic Automation Market
