North America It Robotics Automation Market Forecast 2016-2022
KEY FINDINGS North America has the largest market share of IT robotics automation market followed by Europe. Demand for increased service quality from consumers; fast adoption of technology combined with worthwhile initiatives taken by tool providers for creating awareness about robotic automation tools has led to market growth. The global IT robotics automation market is poised to grow at a CAGR of 60% during 2016-2022. Various reasons for growth of the IT robotics automation market are cost benefits, increased efficiency over manual processes, ability to leverage other software without needing integration and improved scalability.
IT robotics automation refers to a practice where machine or computer software mimics human actions to complete rule-based and step-by-step tasks. In IT industry, automation software utilizes Robotic Process Automation (RPA) to accomplish robotic automation. IT robotics automation offers more adaptability to effectively decrease or increase production levels at low expense. Better flexibility offered by robotic automation can efficiently scale output at a settled level of known administration levels and values.
IT processes that can be managed by robotic automation are access management, request management, availability management, monitoring, incident management and problem management. IT robotic automation decreases operating costs and supports agility to meet customers’ varying and evolving needs. Robotic automation decreases the need for humans in repetitive routine tasks and creates a virtual workforce, which can handle these repetitive tasks. Integration with other systems is not needed as automation occurs at the GUI layer.
IT robotics automation market is segmented on the basis of geography, technology, tools and service. Tools for IT robotics automation can be either model based application tools or process based application tools. Services for IT robotic automation can be further classified into professional, application management and infrastructure management and training services. Professional services are further classified into BPO, consultation and integration and development. Technologies used for robotic IT automation are back office data driven processes, IVR systems, remote infrastructure management, digital detection, and voice recognition market and internet services and retailers providers.
Market Insights Market drivers for IT robotics automation are improved efficiency and cost benefits over manual process handling, increasing adoption in finance and accounting sector, potential alternative to offshore outsourcing, potential to leverage other software without integration and increase in security of processes as human intervention is decreased along with limited access to critical resources.
Process based application tools will report highest growth in the forecast period as demand for robotic automation of application management, request management, infrastructure management, access management, and others in the IT sector increases.
Factors that will restrain market growth are high initial development costs, social issues with releasing people from their jobs, security concerns as these automated systems wrongly interpret information and in the BPO sector, current contracts for project outsourcing will restrict utilization of IT automation.