Asia Pacific is projected to exhibit the highest CAGR over the period between 2018-2026.
The rising demand for advanced automation solutions in various industries, especially in the IT industry, is fueling the growth of IT robotic automation market globally, according to market research and consulting firm Coherent Market Insights.
The firm has forecast that IT robotic automation market will incur meteoric growth during the period between 2018 and 2026.
IT robotic automation offers data integration, query handling, payment processing, task allocation and automating invoicing, which help boost demand for IT robotic automation solutions in the IT industry, in turn, fueling growth of the market, it said.
The firm in its report also noted that the demand for modernization of business processes has increased, owing to improvement in productivity and increasing customer satisfaction thus, boosting the demand for IT robotic automation solution.
As per the report, the robotic automation tools are largely adopted by BPO services and infrastructural management.
North America holds significant market share
North America holds a dominant position in the global market and is projected to retain its dominance throughout the forecast period.
The rampant innovation in computing technology observed in the North American region, is a major factor contributing to rapid growth of the market in the region. Moreover, the increasing demand for IT and IT-related services have helped increase the demand for IT robotic automation technology in the region.
The presence of major companies was observed in countries such as the U.S. and Canada.
Meanwhile, Asia Pacific is projected to exhibit the highest CAGR over the period between 2018-2026. India, China, and Japan are some of the major countries in the region that help drive growth of the market for IT robotic automation. The increasing government and private investment to develop IT-related infrastructure has also boosted growth of the IT robotic automation market in Asia Pacific.
Key Players in the Global IT Robotic Automation Market
Xerox Corporation, Verint System Inc., Uipath SRL, Redwood Software, Pegasystems Inc., Nice Systems Ltd., Ipsoft, Inc., Celaton Ltd., Blue Prism PLC, and Automation Anywhere are some of the major players operating in the global IT robotic automation market.