USA Robotics Process Automation (RPA) Market is expected to grow at CAGR 25% during the forecast period, 2019-2025
Published Date | 2019 September 16
According to the recently published report by BlueWeave Consulting, The USA Robotics Process Automation (RPA) Market is expected to reach at US$1.55 billion with a CAGR of over 25% of the forecast period from 2019 to 2025.
Robotics Process Automation is the use of software with applications of artificial intelligence (AI) and machine learning (ML), carry out high-volume, repetitive tasks like customer service, sensitive tasks where chances of error time every or all whose tasks performed by a human worker. To reduce the burden of repetitive, simple tasks of the human employee, to make an error-free solution and better accountability on output, are primary drivers for the significant growth of the USA RPA market.
The growth in the RPA in USA market can be attributed to the increasing demand of capability enhancement in various organizations, performance and reduce operational costs, to increase the speed of processing is expected to drive the Robotic process automation market growth over the forecast timeline. With the help of the Internet of things (IoT) like AI and Machine learning, RPA is also expected to improve employees’ experience and reduce attrition.
The main driving factors for significant growth in the USA RPA market are the rise in demand for improving the competence and speeding up business processes by making an error-free solution and within the targeted period of output. Additionally, high efficiency with low cost is a few of the significant factors driving the market of RPA. Furthermore, the RPA market is not only useful in terms of overall economic value but will also add value in workforce management by improving employee experience, e.g., staff productivity and improvement in attrition, and improving quality control of company’s operations through applications of AI in packaging department & inventory department. Overall, RPA is meant to strengthen whole operations timing from x to 8x.
Browse Detailed Analysis with TOC, “USA Robotic Process Automation Market by Process (Automated Solution, Decision Support & Management, Interaction Solution) by Industry (Banking, Financial Service and Insurance (BFSI), Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals),by region(Northeast, Midwest, West), Size and Forecast, 2018-2025”
The Robotics Processing Automation (RPA) Market is an emerging technology product where all enterprises, small or big, across the world, are looking towards it. There are limited human natural resources for carrying out better performance, for example, zero-error solution & within time. Therefore artificial intelligence and machine learning-based Robotics will be better technology options for the future prospectus. In recent years, the RPA market has shown significant growth, especially in banking, healthcare, finance, and ITES sector, because enterprises across the globe have started adopting new technology which does away the repetitive process with much-improved accuracy operational time.
Also, various enterprise across the USA has initiated to adapting RPA in the operational process because of RPA capabilities like proving the flexibility and benefits such as cost-saving, scalability, enhanced accuracy, and compliance. Also, small and large Industry in the USA is more focusing on transforming the traditional Business Process Management (BPM) model. With time RPA has improved the accuracy and better flexibility among operational works and has altered the worldwide outsourcing industry as these tools are less expensive and perform a repetitive and complex task.
The research states that the USA Robotic Process Automation market is highly competitive, with players developing new robotic process automation applications. Some of the key players operating in the US robotic process automation ecosystem are Automation Anywhere, UiPath Robotic Process Automation, Blue Prism, Pegasystems, AntWorks, NICE, Kofax Kapow, Softomotive, Contextor, and AutomationEdge. Most of the major vendors in the global robotic process automation market are actively focused on enhancing their offerings to meet the ongoing demand for advanced business automation solutions. This includes software integrated with artificial intelligence and cognitive learning.