BFSI industry is transforming their core operations to address significant industry disruptions from FinTechs and digital. Robotic process automation is used to optimize operations and improve speed and accuracy of core business processes. It can drive 25-50% cost savings by automating repetitive tasks, data intensive, and by improving the accuracy and efficiency of process execution. Robotic process automation (RPA) is a software-based approach, which replicates user actions to reduce or eliminate human intervention in repetitive, mundane, and manually intensive processes. By automating these manual processes BFSI industry can improve efficiency and accuracy. In addition, virtual workers can be deployed 24/7 by reducing latency and driving higher levels of productivity.
Growth in adoption of RPA technology by organizations to enhance their performance, capabilities, and reduce operational costs drives the market. In addition, ease in business processes, increased efficiency and cost-effective and highly profitable operation provided by RPA propels the growth of the market. However, data insecurity risk and less potential for RPA in knowledge-based business processes limits the growth of this market. Furthermore, integration of new technologies with robotic process automation is expected to provide numerous opportunities for the market.
The robotic process automation market in BFSI is segmented on the basis of tools, organization size, solution, and region. Based on tools, the market is bifurcated into model-based and process-based tools. Based on organization size, the market is segmented into small and medium size enterprises and large enterprises. On the basis of solutions, the market is divided into automated, interaction, and decision & management support. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include Nice Systems Ltd., Automation Anywhere, Inc., Pegasystems, Inc., Blue Prism Limited, IPsoft Inc., Celaton Ltd, Xerox Corporation., IBM Corporation, UiPath SRL, and arago GmbH.
Key Benefits :
- The study provides an in-depth analysis of the global robotic process automation market in BFSI and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Robotic Process Automation Market Key Segment:
By Organization Size
- Small and Medium Size Enterprises
- Large Enterprises
- Decision & Management Support
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Nice Systems Ltd.
- Automation Anywhere, Inc.
- Pegasystems, Inc.
- Blue Prism Limited
- IPsoft Inc.
- Celaton Ltd
- Xerox Corporation.
- IBM Corporation
- UiPath SRL
- arago GmbH.