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IT Robotic Automation Market to Reach US$ 4.98 Bn by 2020, Globally and is forecast to grow at 60.5% CAGR from 2014 to 2020 : Transparency Market Research

Albany, NY, March 19, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "IT Robotic Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", the market for IT robotic automation globally is forecast to reach US$ 4.98 Bn by 2020. Key factors driving the global IT robotic automation market include cost benefits and improved efficiency of RPA over manual process handling, ability to leverage other application software without integration, increasing adoption in finance and accounting (F&A) sector and potential alternative to offshore outsourcing among others. Moreover, significant reductions in cost, time and labor can be achieved by implementing robotic process automation.

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The global IT robotic automation market was valued at US$ 183.1 Mn in 2013 and is forecast to grow at 60.5% CAGR from 2014 to 2020. Increasing deployment in the business process outsourcing (BPO) industry coupled with expanding application areas in the IT industry are some of the other key factors driving the IT robotic automation market. Some basic processes in IT which can be managed through robotic process automation include access management, request management, availability management, monitoring, incident management, and problem management.

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Based on geographic regions, the IT robotic automation market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In terms of regional adoption, North America and Europe acquired majority chunk of the market share in 2013. The early adoption of new technology in North America and initiatives taken by RPA tool providers to create awareness in the region are some key factors responsible for the growth in this region. Europe is another key market where the uptake of RPA technology is highly significant. Moreover, Asia Pacific is expected to witness high growth in the coming years in line with the growth of RPA services market in India.

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The IT robotic automation market comprises RPA technology providers and RPA service providers. Some of the key technology providers for RPA include Blue Prism, IPSoft, Inc., Be Informed B.V., Appian Corporation, and Automation Anywhere Inc. whereas RPA service providers include Sutherland Global Services, Tata Consultancy Services, Accenture plc, Cognizant Technology Solutions, Infosys Limited, and Hewlett Packard Company.

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This report analyzes the global IT robotic automation market in terms of revenue (USD Million).

The market has been segmented as follows:

IT Robotic Automation Market, by Type:

  • Tools
  • Services

IT Robotic Automation Market, by Tools:

  • Model-based Application Tools
  • Process-based Application Tools

IT Robotic Automation Market, by Services:

  • Professional
  • Consulting
  • Integration and Development
  • Application Management
  • Infrastructure Management
  • BPO
  • Application Management
  • Infrastructure Management
  • Training

IT Robotic Automation Market, by Geography:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)
  • Latin America

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research