Robotic Process Automation (RPA) is nothing but an application technology in which software capabilities of machine learning (ML) and artificial intelligence (AI) are used for handling repeatable as well as high volume tasks. However, robotic process automation enables employees to program and configure computer software to interpret the huge number of applications in the company for processing transactions, manipulating data, and interacting with digital systems. Likewise, the RPA is just the same as conventional IT automation; however, the main difference among such technologies is, robotic process automation is able to learn itself where a conventional IT automation system lacks.
However, the increasing deployment of IaaS, SaaS, and PaaS, for cloud computing, consumer relationship management, open-source resources, enterprise resource management, network connectivity, cooperative robot learning, and several financial applications are also growing a market for robotic process automation solutions. The growing trend of the cloud-based solutions and growing adoption of robot-based solutions in the huge number of end-user industries are likely to offer new opportunities for the development of RPA market across the globe.
In addition to this, the adoption o automation solutions, as well as Artificial Intelligence (AI), have enabled industries to tackle huge number of challenges while meeting user requirements. Likewise, such technologies highly focus on improving the employee experience. However, robotic process automation enables several organizations to automate recurring tasks and focus more on major business tasks. Additionally, developments in several technologies have triggered organizations to face new challenges according to the shifting consumer requirements as well as demands. In recent years, the adoption of robotic process automation has caught the attention of the huge number of large organizations as well as Small and Medium Enterprises. However, the organizations across the world are increasingly looking to recognize processes which can be automated to improve their operational productivity.
On the other hand, the RPA solutions will not directly reduce the need for enterprise application integration or business management, but they can offer a solution to automate costly as well as complex processes and expedite middle-office tasks and back-office tasks. In addition to this, RPA solutions also make processes easier in complex systems and enable them to communicate together gracefully. Likewise, the solution allows a faster conversion of central process management to leverage growth as well as agility in business services.
According to the geographical expansion, North American market held for one of the highest global RPA market share in the year 2018 and it is likely to remain its position during the forecast period, owing to the increased penetration of process management solutions as well as automation across the market. In addition to this, the Asia Pacific region is also expected to be one of the fastest-growing markets into the coming years. However, it was accounted at around US$ 79.3 ML in the year 2018, this is owing to the growing awareness of automation in this region is also expected to drive the demand for RPA solutions. Likewise, countries such as India and China are also contributing to the growing demand of RPA solutions.
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