According to a new market report published by Transparency Market Research, the global IT robotic automation market is expected to reach a value of US$ 11,417.4 Mn by 2026. The market is projected to expand at a CAGR of 28.1% during the forecast period from 2018 to 2026. IT robotic automation is utilized to improve processing speed and accuracy, to reduce cost. The software robots are used to interact with existing computing systems to execute application and process transactions; this is done by replicating human actions.
Also, robotic automation has emerged as a strong alternative to outsourcing, especially offshore outsourcing. Some of the benefits of robotic automation are cost benefits and increased process efficiency over manual processes, which are contributing substantially to the growth of the IT robotic automation market worldwide. IT enterprises are leveraging robotic automation to facilitate self-service business.
IT robotic automation is a go-to solution for organizations to benefit from process automation and advanced analytics in operations and processes at economical prices which was not possible with earlier automation approaches. Furthermore, software robots are programmed to be used with data-driven and rule-based processes. This offers a capability that can be leveraged irrespective of industry and application, in a cost-effective manner. IT robotic automation works around the clock executing required processes. Robotic automation has modernized the means of managing various business processes, IT management and support processes, workflow processes, and back-office work.
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The IT robotic automation market is categorized by solutions (tools and services), by tools (model based and process based), by services (professional and training), and by professional (consulting, integration and development, and BPO). The cost and time benefits of IT robotic automation over traditional working methods is one of the major factors expected to aid the adoption of IT robotic automation worldwide. Also, ever increasing adoption of cloud based services among enterprises is another factor supporting the generation of new opportunities and thus the market is expected to witness significant growth in the coming years.