IT Robotic Automation Market Expected to Reach USD 9.13 Billion by 2028: Verified Market Research
The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the IT Robotic Automation Market.
JERSEY CITY, N.J., March 6, 2023 /PRNewswire/ -- The global IT Robotic Automation Market is projected to grow at a CAGR of 26.9% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1.34 Billion in 2020 and is expected to reach USD 9.13 Billion by the end of the forecast period.
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IT Robotic Automation Market to witness significant growth by 2028, driven by AI in RPA and Machine learning
The IT Robotic Automation Market is expected to experience substantial growth in the forecast period. The market drivers include the increasing adoption of IT robotic automation across a wide range of industries. Robotic automation is a method of implementing computer software that aids in the collection and interpretation of modified data, as well as the processing of responses, transactions, and the creation of a communication process with other digital systems. IT Robotic Automation can be used to increase production rates without sacrificing quality in a variety of industries. The concept of being a machine that works more efficiently than people with enhanced precision and time-saving performance has transformed the IT industry.
According to Verified Market Research, the role of technology is rapidly changing, assisting in the resolution of corporate challenges and meeting ever-changing consumer demands. RPA and machine learning can help software bots go beyond rule-based procedures and perform tasks that are comparable to human decision-making abilities. Furthermore, AI in RPA can help with unstructured data structuring, business insight enhancement, and data integrity improvement. Automation Anywhere, for example, is developing a Discovery Bot to show the value of AI systems in automation. By recording and analyzing keystrokes from workers' desktops, the bot solution could help with RPA issues like finding procedures to automate. AI incorporated in RPA bots and its application in increasing automated processes across companies is expected to drive market growth over the forecast period.
The key players in the IT Robotic Automation Market are Automation Anywhere (U.S.), Blue Prism (U.K.), Celaton Ltd (U.K.), IPSoft (U.S.), Nice Systems Ltd. (Israel), Pegasystems (U.S.), Redwood Software (U.S.), UiPath (U.K.), Verint (U.S.), and Xerox Corporation (U.S.). These companies are investing heavily in research and development to develop innovative solutions to improve their market share.
The competitive landscape of the IT Robotic Automation Market ishighly competitive, with companies competing on the basis of pricing, product quality, and innovation. The key development strategies adopted by the leading players in the market include mergers and acquisitions, partnerships and collaborations, and product launches.
The IT Robotic Automation Market is expected to witness significant growth over the forecast period, driven by the increasing adoption of AI in RPA and machine learning. The market size is expected to reach USD 9.13 billion by 2028, during the forecast period.
Based on the research, Verified Market Research® has segmented the global IT Robotic Automation Market into Tools, Services, Operation, And Geography.
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