The Asia Pacific Robotic Process Automation Market would witness market growth of 34.8% CAGR during the forecast period (2019-2025). Robotic process automation refers to the use of technology to configure computer software or a robot for capturing and processing existing transaction processing processes, manipulating data, triggering responses, and interacting with other digital systems. Robotic process automation deals with the implementation of smart software to perform high-volume and repetitive tasks that normally take a lot of time to achieve for humans and are generally monotonous to execute on the market for robotic process automation.
In industries like BPO, healthcare, banking, and insurance, robotic process automation is extremely useful, as these industries follow established, repeated, and rule-based processes. Implementing robotic process automation in different business processes has raised the number of strategic partnerships between market providers of robotic process automation software and BPO and other service providers.
Through advances in technology, there has been a significant increase in the use of artificial intelligence (AI) and cognitive computing in robotic process automation. When applied together, AI and RPA systems can process an immense volume of data and facilitate better organizational decision-making. Cognitive computing, which involves machine learning, speech recognition, and algorithm for pattern analysis, is incorporated into the RPA to automate business processes and accomplish organizational objectives. Workforce cost reduction is a key factor that drives the overall growth of the robotic process automation market. RPA allows companies to create virtual workforce capable of completing tasks with high efficiency, thereby reducing the need for human intervention. This helps to reduce operating costs by as much as 25-50 percent as virtual workers will work day and night.
Based on Component, the market is segmented into Software and Services. Services segment is further bifurcated into Consulting, Implementation and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare & Life Sciences, Retail, Manufacturing and Others.. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Robotic Process Automation Market in Asia Pacific is expected to register a CAGR of 34.8% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Verint Systems, Inc., NICE Ltd., Blue Prism Group PLC, Pegasystems, Inc., Genpact Limited, NTT Data Corporation (NTT Advanced Technology Corporation), Automation Anywhere, Inc., UiPath, Inc., Kofax, Inc. (Thoma Bravo LLC), and IPsoft, Inc.
Market Segmentation:
By Component
By Deployment Type
By Organization Size
By End User
By Country
Companies Profiled
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