USA Robotic Process Automation (RPA) Market is expected to reach USD 1.4 Billion by 2024
Published Date | 2019 September 16
According to the recently published report by BlueWeave Consulting, 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. The USA RPA market worth USD 359.2 million expected to grow a CAGR of over 25% the forecast period from 2018 to 2024.
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 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 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, 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.
The Robotics Processing Automation (RPA) Market is an emerging technology product where all enterprises, small and bigger, 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 future prospectus. In the recent years, RPA market has shown a significant growth especially in banking, healthcare, finance, and ITES sector because of enterprises across the globe have started adopting new type technology which can mimic and works as a human but better in accuracy, operational time, flexible between works.
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 have improved the accuracy and better flexibility among operational works and have altered the worldwide outsourcing industry as these tools are less expensive and perform a repetitive and complex task
Scope of Report
USA RPA market is segmented based on the process, Industry type, and Region. Based on processes, Automated Solution, Decision Support & Management, Interaction Solution. On the basis of the Industry type, the market segmented into Banking, Financial Service, and Insurance (BFSI), Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare, and Pharmaceuticals. On the basis of Region, the market is segmented into Northeast, West, and Midwest.
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 U.S. 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.
Market Segmentation: USA RPA
By the Processes
· Automated Solution
· Decision Support & Management
· Interaction Solution
By the Industry type
· Banking, Financial Service and Insurance (BFSI)
· Telecom & IT
· Retail and Consumer Goods
In addition, the report gives detailed analysis of USA RPA on the following Geographic basis: