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$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.
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