Press release
IT Robotic Automation Market: Demand for Unleashing Potential of Big Data Analytics to Bolster Uptake
With the surging need for interactive and intuitive eLearning solutions among several end-use industries, the market is likely to witness elevated competitive over the years. Leading players are keen on developing high-functional automation tools and offering services at competitive pricing to gain a competitive edge over others.
The global market for IT robotic automation is predicted to reach a valuation of US$16,884.0 mn by the end of 2024. The market is projected to rise at a whopping CAGR of 47.1% from 2016 to 2024.
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Based on solutions, the IT robotic automation market is segmented into services and tools. Of these, the services segment presently holds the dominant market share and is expected to continue its lead throughout the forecast period. Regionally, the North America market IT robotic automation held the major share of the global market in 2015, in terms of revenue. The dominance of the regional market is primarily attributed to a large number of early adopters and the growth is likely to be fueled by substantial advances being made in computing technologies.
Robotic Automation to Bring Vast Process Improvements in Financial Processes in IT Sector
The growing demand for advanced process automation solutions in the IT industry to streamline workflows and key processes is a vital factor driving the IT robotic automation solution market, globally. The growing prominence of process automation in big data analytics to deliver on substantial value across a wide range of business processes is a key factor propelling the demand for IT robotic automation services and tools. The rising demand for modernizing business processes aimed toward improving productivity and boosting customer satisfaction in various industries is catalyzing the uptake of robotic automation solutions. For instance, the growing automation of a variety of routine processes in several businesses in a number of emerging economies is fueling the growth of the market.
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The rising popularity of robotics among IT enterprises in bringing process improvements in key business functions, especially financial management and accounting, is a crucial factor boosting the market. In addition, the uptake of robotic automation tools is vastly fuelled by their applications in BPO and infrastructure management. Robotic services in the IT sector are gaining traction for automating invoicing, task allocation, payment processing, query handling, and data integration. In addition, the increased demand for robotic tools for improving compliance has also bolstered the uptake.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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