South America Robotic Process Automation Market to 2027 - Regional Analysis and Forecasts by Type (By Component (Solution and Services); Industry Vertical (BFSI, Retail, Telecommunication, Healthcare, Transportation & Logistics)
The South America robotic process automation market accounted to US$ 64.3 Mn in 2018 and is expected to grow at a CAGR of 36.2% during the forecast period 2019 - 2027, to account to US$ 1,009.1 Mn by 2027. The robotic process automation distinguishes itself from traditional IT automation by its ability to capture and interpret the actions of specific processes in existing software applications, and it can manipulate data, trigger responses, initiate new actions and communicate with other systems autonomously. Large and small companies will be able to benefit from RPA by expediting back-office and middle-office tasks in a wide range of industries, including insurance, finance, procurement, Supply Chain Management (SCM), accounting, Customer Relationship Management (CRM) and Human Resource Management (HRM). The South America robotic process automation market exhibit high growth in the near future. Some of the major driving factors contributing to the South America robotic process automation market growth are increased opportunities arising at the early stage within the BPO & shared services, Cost benefits offered by RPA, and rapidly coming product innovation by the technology providers.
The South America robotic process automation market is segmented into the component as software and services. Service segmented is further bifurcated as training service and professional service. In South America robotic process automation market, solution segment leads the market. The RPA solution has slightly matured over the past decade, and now is being implemented by several organizations across the globe. Lately, the leading business players across the industries have been focusing more upon RPA owing to its ability to automate various manual processes, resulting in better addressability of business process complexities. In South America robotic process automation market, the training services are currently at the peak of its demand as more and more companies across the globe wish to educate their employees about efficient operations of RPA systems.
The South America robotic process automation market is segmented into industry vertical as BFSI, retail, telecommunication, manufacturing, transportation & logistics, and others. The South America robotic process automation market is dominated by BFSI. BFSI industry encapsulates insurance companies, non-banking financial companies, commercial banks, mutual funds, and other smaller financial bodies which operates through a vast amount of data.
The South America robotic process automation market is segmented into the country like Brazil, Colombia, and Rest of South America. The South America robotic process automation market is dominated by Brazil as companies across various industries in Brazil are focusing upon the training and development of their employees to keep them updated with the upcoming technologies.
The overall South America robotic process automation market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the South America robotic process automation market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Robotic process automation market. Some of the players present in South America robotic process automation market are Atos SE, Blue Prism Group Plc. Nice Systems, Pegasystems, Inc., and Thoughtonomy Ltd, among others.
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