It Robotic Process Automation Market to Grow Exponentially Due to Its Benefits over Manual Processes

According to a recent market research report published by Transparency Market Research, the global IT robotic automation market is expected to take a significant leap at a CAGR of 60.5% during the period between 2014 and 2020. The report, titled “IT Robotic Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, estimates the global IT robotic automation market to be worth US$4.98 billion by 2020. The overall market was valued at US$0.183 billion in 2013.

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Robotic automation refers to the implementation of a machine or a computer software that mimics human actions to complete rule-based tasks. In the IT industry, robotic automation is achieved through automation software. Processes such as request management, access management, monitoring, incident management, problem management, and availability management can be managed through robotic process automation. The report points out that robotic automation in the IT sector is acting as a strong alternative to offshore outsourcing. Cost benefits and increased efficiency offered by robotic automation over manual process outsourcing in the IT industry will augment the growth of the global IT robotic automation market. The ability of the robotic automation software to leverage other application software without integration has led to its increased adoption across finance and accounting sectors to reduce exenditure. This will propel the growth of the global IT robotic automation market.

However, the report states that the overall IT robotic automation market will be negatively affected by security concerns of the technology over increased access to an individual. Also, existing BPO contracts will restrict the usage of robotic automation software in the BPO segment. The market has a huge opportunity to grow with the implementation of...