$474.9 Million Global IT Robotic Automation Market to Grow at CAGR of 64.31%
April 20, 2017 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global It Robotic Automation Market Forecast 2017-2025" report to their offering. The Global IT robotic automation market generated revenue of $474.9 Million in 2016 and is anticipated to contribute $38877.9 Million by 2025, growing at a CAGR of 64.31%
Increased efficiency over manual processes, ability to leverage other software without needing integration and improved scalability.
Market drivers for IT robotics automation are improved efficiency and cost benefits over manual process handling, increasing adoption in finance and accounting sector, potential alternative to offshore outsourcing, potential to leverage other software without integration and increase in security of processes as human intervention is decreased along with limited access to critical resources.
Process based application tools will report highest growth in the forecast period as demand for robotic automation of application management, request management, infrastructure management, access management, and others in the IT sector increases.
Factors that will restrain market growth are high initial development costs, social issues with releasing people from their jobs, security concerns as these automated systems wrongly interpret information and in the BPO sector, current contracts for project outsourcing will restrict utilization of IT automation.
The major market players for IT robotics automation are Blue Prism, Be Informed B. V., Appian Corporation, IPSoft Inc., Tata Consultancy Services Limited, Hitachi, Toshiba, Google, GE and Genpact Ltd.
Suggested Items
Kitron's Q3 Results Reflect Global Market Dynamics
10/25/2024 | KitronKitron reported quarterly figures that are impacted by challenging markets but also demonstrate actions taken to adapt to market shifts by leveraging the group’s global capabilities.
IDC: Chinese Smartphone Market Continues Growth Streak with 3.2% Rise in 3Q24
10/25/2024 | IDCAccording to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, China smartphone shipments grew 3.2% year over year (YoY) to 68.8 million units in 3Q24.
Amphenol Reports Record Third Quarter 2024 Results
10/25/2024 | BUSINESS WIREThe Company continues to deploy its financial strength in a variety of ways to increase shareholder value. During the quarter, the Company purchased 2.7 million shares of its common stock for $176 million and paid dividends of $132 million, resulting in total capital returned to shareholders of $308 million.
Gartner Forecasts Worldwide IT Spending to Grow 9.3% in 2025
10/24/2024 | BUSINESS WIREWorldwide IT spending is expected to total $5.74 trillion in 2025, an increase of 9.3% from 2024, according to the latest forecast by Gartner, Inc.
Close to 50% of European and North American Homes Will be Smart by 2028
10/24/2024 | Berg InsightAccording to a new research report from the IoT analyst firm Berg Insight, the number of smart homes in Europe and North America reached 126.2 million in 2023.