Global Robotic Process Automation in BFSI Market By Type (Software and Services), Organization (Small and Mid-Size Enterprises (SMEs) and Large Enterprises), Application (Banking Financial Services and Insurance), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Global robotic process automation in BFSI market is expected to reach USD 1,938.02 million by 2027 and witnessing market growth at a rate of 31.30% in the forecast period of 2020 to 2027. Data Bridge Market Research report on robotic process automation in BFSI market provides analysis and insights regarding the leading current market analysis scenario, upcoming as well as future opportunities and competitors.
BFSI industry is now transforming their conventional way of operations into digital and process automation. Robotic process automation can optimize operations and improve the speed and accuracy of the business process. BFSI sector is using robotic process automation (RPA) and artificial intelligence widely in their business processes to increase their efficiency and productivity. RPA is a software-based approach; it helps in automating the process which is repetitive and mundane, by replicating user’s actions to reduce their intervention in the process. Some of the functions of the BFSI sector, which robotic process automation can improve our credit card processing, fraud detection, mortgage approval, opening accounts, receivables, customer service, payable accounts, and others.
The BFSI sector organizations need to improve their business processes for increasing productivity, accuracy and efficiency, for which the organizations are constantly demanding for the latest technologies such as robotic process automation and artificial intelligence, which is boosting the growth of the demand for the RPA rapidly.
However, security risk of sensitive data of the customers and less potential for RPA process in knowledge-based business process is expected to restrain the growth of the robotic process automation market in the future.
This robotic process automation in BFSI market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research global robotic process automation in BFSI Market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Robotic Process Automation in BFSI Market Scope and Market Size
Robotic process automation in BFSI market is segmented on the basis of type, organization, application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Global robotic process automation in BFSI market on the basis of type has been segmented into software and services. Services segment is further segmented into consulting, implementation and training.
- Based on organization, global robotic process automation in BFSI market has been segmented into small and mid-size enterprises (SMEs) and large enterprises.
- On the basis of application, global robotic process automation in BFSI market has been segmented into banking, financial services and insurance.
Global Robotic Process Automation in BFSI Market Country Level Analysis
Robotic process automation in BFSI market is analysed and market size, volume information is provided by country, type, organization, and application as referenced above.
The countries covered in the robotic process automation in BFSI market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is continuously dominating the robotic process automation in BFSI market and is expected to dominate the market in the forecast period. The cost for KYC and AML compliances processes are high, due to which the BFSI sector is adopting the advance technologies like RPA to identify and prevent theft, frauds and money laundering as well as to reduce the manual tasks which has to be performed by a human and increase accuracy. The U.S is estimated to have the highest growth in the North America region. Asia-Pacific is projected to growth with the highest CAGR in the forecast years due to the increase in the financial institutes in the region.
The country section of the robotic process automation in BFSI market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Robotic Process Automation in BFSI Market Share Analysis
Robotic process automation in BFSI market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to robotic process automation in BFSI market.
The major players covered in the robotic process automation in BFSI market report are IBM Corporation, KOFAX INC., Blue Prism Limited, Automation Anywhere Inc., Kryon Systems, NICE, Pegasystems Inc., UiPath, Softomotive, WorkFusion, Inc., Celaton Limited, Xerox Corporation, arago GmbH, Amelia US LLC, AutomationEdge, EdgeVerve Systems Limited, Dell Inc., Another Monday among some global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Robotic Process Automation in BFSI Market
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