High-tech advancements have completely reformed the ways businesses work. Elimination of human support in daily tasks and automation of repetitive tasks are some of the major benefits of technology incorporation. Notably, robotic process automation (RPA) has significantly influenced the digital transformation journeys of present-day businesses. Greater efficiency and optimization of repetitive procedures have created substantial demand for RPA at a global level. Likewise, enterprises are actively embracing advanced technologies including cloud, Artificial Intelligence, and machine learning to overcome the intricacies of data inflow and conduct business process automation. An extensive application of futuristic technologies across global enterprises is assuring influential growth across the robotic process automation market.
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No-code Revolution to Aid Robotic Process Automation Market Expansion
The global robotic process automation market is set to witness a heavy influx of investments for robust enhancements and developments amid soaring penetration of advanced technologies. Similarly, the evolution of the low or no-code revolution has reduced the dependence on core developers. No-code platform, equipped with user-friendly ready-to-build features and a swift drag-and-drop interface, provides a visual approach to development. This has facilitated SaaS platforms to come up with RPA solutions at lower costs and faster response rates. Consequently, this has upscaled the demand for automation of end-to-end processes, workflow, and complex tasks. Taken together, these factors are anticipated to bode well for the global robotic process automation market.
Establishment of COE to Augur Well for Robotic Process Automation Market
Robotic process automation Centre of Excellence (COE) is a recent trend that comprises RPA consultants, IT experts, process managers, and functional experts. This RPA COE is established to streamline and simplify processes to enhance operational efficiency. Keeping efficiency enhancement and overseeing the bot development cycle at the centre, the internal COE team establishes best practices and global standards. Furthermore, the internal COE significantly optimises ROI and assists in the swift integration of robotic process automation. Over and above, it offers extensive support and training and is capable of carrying out all RPA projects. Hence, the ability to uphold management and governance of RPA projects is setting the stage for robust expansions across the global robotic process automation market.
This factor remains crucial in boosting the capabilities of robotic process automation. Major players are combining AI, and machine learning to obtain a cognitive interface. With the availability of such advanced tech, the demand for RPA is bound to increase across industries, in turn pivoting the growth of the robotic process automation market.
First-Movers Advantage Enables North America to Sustain an Edge over Global Market
Being a leading region to adopt the latest technologies, North America reigns supreme in the global robotic process automation market. Well-established IT infrastructure and improved economic strength are key factors contributing to the growth of the regional market. The market is further augmented by robust investments and strong uptake of AI and other automation technologies. The major players involved in RPA solutions deployment are likely to experience growth at a record pace. Against such a positive business scenario, the region is expected to flourish with next-gen development in the years to come.
Key Market Players
Some of the most prominent players operating at the forefront of the global robotic process automation market include Microsoft Corporation, UiPath Inc., WorkFusion Inc., Automation Anywhere, Blue Prism Group, Kryon Systems, and Salesforce.
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