QYResearchReports.com has recently announced the addition of a new report on the global robotic automation market. The study is aimed at presenting in-depth insights into the factors encouraging and inhibiting the market’s growth between 2016 and 2021. The report is titled “Global IT Robotic Automation Market Size, Status and Forecast 2022’ and is available for sale on the company website.
The market is currently dominated by several companies, specializing in either robotic automation services or robotic automation tools. Therefore, in order to strengthen their position in the market, the leading companies are eyeing on various strategies. These strategies, combined with the increasing awareness about the benefits and availability of IT robotic automation, will augment the market’s growth during the forecast period.
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According to the report, the increasing awareness about the benefits of incorporating IT robotic automation in BPO services will boost the market in the near future. While the penetration of BPO services in the business world has been far-fetched, their adoption across core industries is yet to get established. Nonetheless, IT robotic automation is known for its potential of reducing operational costs, which will be a key factor driving its demand globally. The incorporation of IT robotic automation will enable human employees to focus on customer services, while rest can be taken care of by robotic systems.
Furthermore, the market is also gaining significant impetus from the adoption IT robotic automation in the financial sector. Because of the menial nature of several tasks in the financial sector, it is possible to manage a majority of the same by robotic automation services. Invoicing, payment processing, task allocation, and compliance are a few of the operations within the financial sector that can be easily taken care of by robotic automation methods.
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Despite the various unequivocal advantages of IT robotic automation, its demand is restricted to an extent by the widespread prevalence of conventional BPO practices in the business sector. Furthermore, security concerns relating to the risk of the network ecosystem being vulnerable to even the smallest of all data breaches due to its interconnected nature also create bottlenecks for the market. While developed are keen on improving security offerings in IT robotic automation, the continuing threat of cyber-crime has held back many companies from adopting IT robotic automation services.
Regionally, North America and Europe are expected to report dominance in the global IT robotic automation market. However, during the course of the forecast period, emerging economies in Asia Pacific, the Middle East and Africa, and Latin America are expected to showcase higher CAGR.
Some of the companies likely to exhibit robust growth during the forecast period are Automation Anywhere Inc., Blue Prism, Appian Corporation, Be Informed B.V., and IPSoft Inc. The report profiles these and several other countries. The impact of strategies adopted by the companies profiled on the overall market operations is studied in detail as well.
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