The robotic automation also known as robotization is automation of industrial and business processes with the help of robots or different types of guises. For example, industrial robots are used in manufacturing units and software robots are used in business processes in service sectors. The global IT robotic automation market is anticipated to grow with the CAGR of 50.3% in the forecast period 2016-2023. The factors driving the global IT robotic automation market includes:
- Strong alternative to offshore outsourcing
- Ability to leverage other application software without integration
- Increasing adoption in finance and accounting (F&A) sector
- Stagnation of industrial manufacturing
- High adoption rate of robotics IN SMES
A large number of investment are done in global IT robotic automation market. For example, Toyota invested around $1 billion to0 establishing a research and development sector specifically focusing on artificial intelligence and robotics in 2015. According to the national science and technology council of United States the US government invested around $1.1 billion in research and development of artificial intelligence technologies in 2015 due to the immense benefits of robotic automation such as high accuracy and quality of work, shorter cycle time, high scalability and flexibility.
According to the international federation of robotics the rise in sales of robots increased by 15% which amounts up to 253748 units. The five major countries which contributed the most, i.e. 75% to this robust increase of sales of robots were China, republic of Korea, Japan, United States and Germany. According to the robotics industry association, the sales of robots in 2015, were 8%. It has been estimated that around 2.3 billion industrial robots will be in operation all over the world by the year 2018. The advanced sensors, hi-tech software and autonomous actuators are improving the industries’ intelligence. In the last decade robotic automation has transformed the whole production and manufacturing section with their better efficiency and quality production and from the robotics technology has now integrated with IT software to provide process solution, which is known as RPA (Robotics Process Automation). This technology works like the human behavior and learns things from artificial intelligence (AI). Working just like humans it mimics the tasks done by the individuals but with higher efficiency and better results. RPAs can have many applications such as business process outsourcing, managing resource decisions etc. some other applications include some basic processes or solutions in information technology. Using RPA in the system reduces the operating cost as well as it gives additional support in agility in order to meet the varying customer’s needs.
Global IT robotics market is driven by many factors but one of the major factors is cost benefit in long term. For example, IVR (interactive voice response) is just a simple case of IT robotics but it can reduce the cost of having an employee 24*7 without any break or holiday. The only resource it requires is power. There are some other factors which are expected to drive global IT robotic automation market such as improved efficiency over manual process managing, ability to leverage other general application software without integration. This technique creates a virtual workforce for handling large number of repetitive tasks. Robots can work continuously and can replace the limitations of human labor. Thus, significant savings in cost, time and labor can be achieved by implementing RPA.
Increasing access of technology has also increased the risk of errors which in turn has increased the security concerns. Major errors which lead to the security concerns are human errors, control errors, unauthorized access, mechanical failure, environmental sources, power systems, and improper installation.
Source: OBRC Analysis
The global IT robotic automation market is segmented into tools, services and technology. On the basis of tool, the market is sub segmented into:
- Model-based application tools
- Process-based application tools
On the basis of service, the market is sub-segmented into:
- Professional market
- Consulting market
- Integration and development market
- Application management
- Infrastructure management
- BPO market
- Training market
On the basis of technology, the market is sub segmented into:
- Back office data driven process market
- Voice recognition market
- Digital detection market
- Remote infrastructure market
- IVR system market
- Internet retailer and service provider market
The revenue for the above services are specific to the IT robotic automation market. However, the total revenue of these services in general have been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up technology & tool segments.
Geographically, the global IT robotic automation market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America occupied major share of the global IT robotic automation market, in terms of revenue in 2016 followed by Europe and Asia pacific region. The reason being early adoption of this technology in the North American region, and the initiatives taken by the providers of robotic process automation tool to create awareness. Europe introduced itself as another key market for robotic automation, because of large investments by IT companies working in outsourcing. However, in the forecast period, Asia Pacific is expected to have the fastest growth rate in global IT robotic automation market due to rapid development and industrialization along with the increasing need to manage and optimize the processes.
On the basis of tools the global IT robotic automation market is further sub segmented into model-based application tools and process-based application tools. Out of which, process based application holds the largest market shares owing to the various applications in industrial and production segment. The service segment is further sub segmented into professional market, consulting market, integration, and development market, application management, infrastructure management, BPO market and training market, where BPO is the fastest growing segment worldwide. Technology segment is sub segmented into back office data driven process market, voice recognition market, digital detection market, remote infrastructure market, IVR system market, internet retailer and service provider market.
The major market players of the global IT robotic automation market are:
- AUTOMATION ANYWHERE, INC.
- APPIAN CORPORATION
- BLUE PRISM
- COGNIZANT TECHNOLOGY SOLUTIONS CORP,
- GENFOUR
- INFOSYS LIMITED GENPACT LTD
- IPSOFT, INC.
- SUTHERLAND GLOBAL SERVICES
- TATA CONSULTANCY SERVICES LIMITED
- OTHERS
Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. Example: In May 2016, IPsoft and Accenture launched Accenture Amelia Practice to support corporations and organizations to increase adoption of artificial intelligence. Accenture welcomed Amelia’s special and unique capabilities in their technology portfolio for artificial intelligence which provided benefits to their clients of every industry. The creation of an Accenture Amelia practice by ipsoft and Accenture created an important impact on artificial intelligence market. The combination of Accenture’s services capabilities and focus on AI, with the IPsoft’s strong positioning in Intelligent Automation Continuum led to new approachs towards value for customers.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as merger as in May 2016 IPsoft and Accenture launched Accenture Amelia Practice to support corporations and organizations to increase adoption of artificial intelligence.
- Provide you the patent analysis of global IT robotic automation market.
- Identify and understand the strength, opportunities, challenges and threat of global IT robotic automation market.
- Provide revenues of major players of the market such as Cognizant Technology Solutions Corp.
- Provide you the various regulatory policies which affect the global IT robotic automation market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global IT robotic automation market offers the longest chain of market segmentation covering major market segmentation based on tools, services and technology. The report tracks the major market trends in the global IT robotic automation market such as cloud robotics and robotics as a service. For each market segments covered in global IT robotic automation market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the IT robotic automation industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of global IT robotic automation market:
- North America held the largest revenue share in 2016.
- Product launch and partnership is the key strategy adopted by the various market players of global IT robotic automation market.
- BPO sector is the major segment of services.
