Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a recent market research report published by Transparency Market Research, the global IT robotic automation market is expected to take a significant leap at a CAGR of 60.5% during the period between 2014 and 2020. The report, titled "IT Robotic Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", estimates the global IT robotic automation market to be worth US$4.98 billion by 2020. The overall market was valued at US$0.183 billion in 2013.
Browse the full IT Robotic Automation Market report at http://www.transparencymarketresearch.com/it-robotic-automation-market.html
Robotic automation refers to the implementation of a machine or a computer software that mimics human actions to complete rule-based tasks. In the IT industry, robotic automation is achieved through automation software. Processes such as request management, access management, monitoring, incident management, problem management, and availability management can be managed through robotic process automation. The report points out that robotic automation in the IT sector is acting as a strong alternative to offshore outsourcing. Cost benefits and increased efficiency offered by robotic automation over manual process outsourcing in the IT industry will augment the growth of the global IT robotic automation market. The ability of the robotic automation software to leverage other application software without integration has led to its increased adoption across finance and accounting sectors to reduce exenditure. This will propel the growth of the global IT robotic automation market.
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However, the report states that the overall IT robotic automation market will be negatively affected by security concerns of the technology over increased access to an individual. Also, existing BPO contracts will restrict the usage of robotic automation software in the BPO segment. The market has a huge opportunity to grow with the implementation of robotic process automation in application and infrastructure management. On the basis of type, the report segments the global IT robotic automation market into tools and services. Tools have been further sub-segmented into process-based application tools and model-based application tools. The demand for process-based application tools is rising due to growing requirement for application management, infrastructure management, request management, access management, and others across the IT sector. Services have been sub-segmented into training and professional services.
The report studies the global IT robotic automation market across five key regional segments: Asia Pacific, Latin America, Middle East and Africa, Europe, and North America. In 2013, North America and Europe accounted for the largest share of the market. In North America, early adoption of technology, coupled with initiatives taken by robotic process automation tool providers to create awareness has aided the growth of the market. Europe has emerged as another key market for robotic automation. However, during the forecast horizon, Asia Pacific is expected to witness the highest growth in the market.
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The report profiles some of the major players in the global IT robotic automation market such as Blue Prism, Appian Corporation, Be Informed B.V., Tata Consultancy Services Ltd., Infosys Ltd., Cognizant Technology Solutions Corp., Atos SE, IPSoft Inc., Genfour, Capgemini, Genpact Ltd., Sutherland Global Services Inc., and Automation Anywhere Inc. The report provides insightful information about the key players such as their business strategy, financial overview, and recent developments.
The research study has been segmented as below:
IT Robotic Automation Market, by Type:
IT Robotic Automation Market, by Tools:
- Model-based Application Tools
- Process-based Application Tools
IT Robotic Automation Market, by Services:
- Integration and Development
- Application Management
- Infrastructure Management
- Application Management
- Infrastructure Management
IT Robotic Automation Market, by Geography:
- North America
- Middle East and Africa (MEA)
- Latin America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research