Businesses can adopt Robotic Process Automation (RPA) to reduce impact of COVID-19

The latest market report published by Brisk Insights “Global Robotic Process Automation Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the global robotic process automation market was US$ 898.3 Mn in 2018 and expected to progress with CAGR of 31.8% from 2019 to 2027, reaching US$ 10,781.0 Mn in 2027.

Market Insights

"Robotic process automation improving the work efficiency"

Robotic Process Automation (RPA) is helping to automate business processes and workflows. Instead of removing the person from the process, it understands that, in virtually every case, automation will involve some combination of human and robotic input for successful execution. The major secret of RPA is that person can identify the optimum combination of human and robotic collaboration for any specific workflow or process. The robot does exactly what the person would do – only much quicker and without making errors. The user can break-down the tasks within a workflow and select which ones the robot can execute, the tasks where the robot needs some human support, and, conversely, tasks where the human benefits from robotic support. 

The RPA has the flexibility to evolve as the process changes. Thus, RPA doesn’t require businesses to change either the business process or the IT infrastructure that underpins it. As systems are updated or new technologies added, the robot can be quickly and cost-effectively updated to incorporate new capabilities with minimal or no business disruption. 

In the current situation of COVID-19 pandemic organizations around the world are turning to automation to become faster and more agile in the face of increased demand and rapidly changing environments. From managing high volumes of testing results to supporting the increased need in call centers to preparing and enabling a remote workforce, organizations are realizing the benefits of automating right now. Overall, the COVID-19 pandemic expected to increase the adoption of RPA across the globe. 

Browse the full report at https://www.briskinsights.com/report/robotic-process-automation-market

The overall robotic process automation market is competitive in nature and it is growing at a moderate rate. The market players are adopting strategies such as launching innovative & new products, agreements, partnership & collaboration, and investment in R&D to stay competitive in the market.

Industrial Developments

• In April 2020, UiPath, the leading enterprise Robotic Process Automation (RPA) software company, is offering healthcare organizations free RPA software to accelerate critical processes and free up strapped employees so they can more rapidly respond to issues arising as a result of the COVID-19 pandemic. With this tool, enterprises can capture automation ideas from their staff to build an automation pipeline that will support new and evolving employee needs, especially as they work remotely. 

• In March 2020, Meliá announced its agreement to automate business processes with UiPath. The implementation of the UiPath RPA platform at Meliá is designed to improve customer service and the working day of employees and driven by the "Robotics 360" program, one of the cornerstones of the Digital Hub created by the company as part of its "Be Digital 360” global digital transformation program.

Key Market Movements:

• Based on the solution, the service segment captured the largest share in 2018. Subsequently, the same segment expected to dominate the market during the forecasted period.

• Based on region, North America was the largest regional robotic process automation market in 2018. On the other hand, Asia Pacific expected to drive the market growth with the highest CAGR from 2019 to 2027.

List of Companies Covered:

• UiPath
• Automation Anywhere Inc.
• Blue Prism Ltd.
• NICE
• Pegasystems Inc.
• Kofax Inc.
• NTT Advanced Technology Corporation
• EdgeVerve Systems Ltd.
• ActiveOps Ltd.
• HelpSystems
• Others

The Global Robotic Process Automation Market is Segmented into:

*Complete segmentation list is on the report page