Rising Preference for Complete Automation Processes to Bode Well for Global IT Robotic Automation Market
Robotic automation comprises the process of automation in which a computer impersonates human actions in order to perform a specific task. In the last few years, robotic automation systems are being extensively adopted in IT organizations across the globe. At present, a few players are dominating the global IT robotic automation market as it is at a nascent stage. The leading players in the market are focusing on providing end-to-end services for robotic automation in diverse IT applications, including application management, business process outsourcing, and infrastructure management. The capability of controlling other application software without the need for integration is the primary factor encouraging the market.
In this blog, Transparency Market Research (TMR) addresses several vital questions associated with the growth prospects, opportunities, and limitations in the global IT robotic automation market.
In what ways are the key drivers and barriers expected to impact the growth of the market?
The growing adoption of robotic automation in IT is considered to be a worthy alternative to offshore outsourcing. This is expected to accelerate the market’s growth in the coming years. In addition, the growing demand from accounting and finance sectors and cost benefits are projected to drive the demand for IT robotic automation systems across the globe.
On the other hand, the social implications of releasing workers from their role and security concerns of new technology over increased access to an individual are some of the key factors estimated to restrict the growth of the global IT robotic automation market in the next few years.
Nevertheless, the emergence of robot-as-a-service and macroeconomic and economic events are likely to offer promising opportunities for leading players operating in the global IT robotic automation market.
Which are the most preferential strategies among leading players?
As per the research study, the global market for IT robotic automation is expected to reach a value of US$16.8 bn by the end of 2024, registering an exponential 47.1% CAGR between 2016 and 2024. The remarkable growth of the market can be attributed to the leading players in the global IT robotic automation market, who are focusing on creating awareness among consumers regarding the benefits of these systems with the help of demonstrations. The cost-effective options and innovative services provided by these systems are encouraging consumers to demand robotic automation systems. In addition, the increasing number of mergers and acquisitions and strategic collaborations in order to expand their product portfolio is accelerating market opportunities.
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Is IT robotic automation expected to change the outlook of e-commerce warehouses?
With the increasing adoption of IT robotic automation, diverse industries are expected to witness significant growth in the next few years. In the e-commerce industry, to perform pick and package system and other logistical operations, a high demand for these systems is projected. Some warehouses are also experimenting with innovative and effective robotic automation systems for speed-sorting in which parcels are sorted and packaged on the basis of their weight, size, and dimensions. Key players such as Blue Prism, Appian, Tata Consultancy Services Limited., Be Informed B.V., and IPSoft, Inc. are working towards innovation and development to offer effective systems.
Furthermore, the incorporation of artificial intelligence in IT robotic automation systems is anticipated to generate lucrative opportunities for the market players operating in the global market.