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Robotic Process Automation
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Manage Robotic Process Automation Category with Ai powered
Procurement Productivity Suite

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Abi will answer all Robotic Process Automation related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Robotic Process Automation to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Assess Supplier Risk based on key risk and compliance parameters

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

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Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

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Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

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Benchmark your category performance against peers and the market

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Get information on key factors affecting your supply

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

meet-abi-1

Abi will answer all Robotic Process Automation related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

discover-market-info

Get up-to-date market and supplier info on Robotic Process Automation to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • Key Trends and Benefits of RPA
  • RPAs Role in Key Business Process
  • RPA Maturity and Key Industries of Deployment
  • Pricing Models and Cost Components

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Regional Market Outlook on Robotic Process Automation (RPA)

  • TThe worldwide RPA market is estimated to be $2.29 billion in 2020. The market is forecasted to grow at a CAGR of about 40 percent between 2020 and 2024, and it is estimated to reach $8.85 billion in 2024.
  • Cobots are moving towards heavy-duty material handling, part-handling, machine tending etc. as compared to their previous small payloads and lighter applications

Global RPA: Drivers and Constraints  

Drivers

Reduced labor costs

  • RPA replaces manually intensive tasks with machines reducing the need for resources
  • The annual cost of a RPA robot will range from $5,000 to $10,000, which is approximately one-third of an FTE

Increase in employee productivity with minimal process change

  • RPA elevates employees into higher functioning roles that make use of their expertise rather than invest a significant time in mundane workflow-based tasks

Rise of innovative RPA applications

  • With companies constantly looking for more ways to apply automation (i.e., cognitive computing, NLP, ML, etc.) in their operations and the continuous technological advancements, this demand would create opportunities for greater number of tasks to be performed entirely by the automated workforce

Constraints

Lack of technical ambiguity

  • Though RPA takes a minimal implementation time, the workforce must satisfy technical and operating requirements for sound implementation, as it involves risk factors across multiple impact points
  • E.g., Defining process rules, modifying IT architecture, data compliance and management, etc.

Managing stakeholder expectations

  • RPA implementation also includes managing expectations of both individual employees whose jobs are impacted by RPA and their managers

Porter's Five Forces Analysis

Supplier Power

  • The RPA market is highly fragmented. Hence, the supplier power is low
  • RPA has a high supplier base, ranging from global to regional vendors, who can cater to specific business needs
  • Due to this, competitive pricing and stiff competition exist across all tiers of players

Barriers to New Entrants

  • The RPA market has low barriers to entry, due to low capital investment and abundance of technical workforce
  • The market is driven by demand for value-added solutions that can deliver value-added services, such as consulting, training, support, etc.

Intensity of Rivalry

  • Intense competitive rivalry exists, as the vendors are competing to establish product, service differentiation, and competitive advantage in the marketplace by providing a variety of services

Threat of Substitutes

  • Threat of substitution is low, as RPA itself is an alternative for human workforce

Buyer Power

  • A competitive supplier landscape will be an advantage to the buyer, since they can choose the best-fit service provider from a diversified supplier base
  • Hence, the bargaining power of a buyer is high, as they are provided with choice of selecting a supplier with best-in-class rates and service portfolio (i.e., market leaders to start-ups)

Robotic Process Automation Frequently Asked Questions

  1. What’s the projected growth of the RPA market?
  2. As per Beroe, the RPA market is forecasted to grow at a CAGR of 40 percent and raise its valuation from $630 million to $3.39 billion by 2023.
  1. What percent share does North America contribute to the RPA market?
  2. Currently, North America contributes nearly 50 percent of the global RPA market and it’s estimated that it will contribute significantly by 2023.
  1. What drives the Robotic Process Automation market in Europe and APAC region?
  2. The contribution to the RPA market w.r.t Europe region is driven by the increase in innovative service quality requirements from end-consumers while for APAC, it’s driven by an increase in IT service providers especially in China, India, Japan, etc.
  1. What are the key robotic process automation market trends worth knowing?
  2. According to Beroe’s analysis, the key industry trend is the fact that Y-o-Y spends for the RPA improved over the last 3 – 5 years and was nearly more than 125 percent.
  1. Who are the key players in the RPA market?
  2. The prominent players of the RPA market include the following names: Accenture Cognizant Capgemini IBM TCS Automation Anywhere Blue Prism UiPath Redwood Verint
  1. Name the major end-use industries that are extensively using RPA technology?
  2. Six major end-use industries are making the most out of RPA and their names are: Manufacturing Media and Advertising Healthcare BFSI Transportation Retail
  1. What percent share do enterprises based out of the US adopt w.r.t RPA?
  2. As per Beroe’s report, enterprises based in the US region capture more than 60 percent of the RPA market.
  1. What’s the estimated annual cost of an RPA robot?
  2. As per the analysis, the annual cost of an RPA robot falls within the range of $5000 to $10,000 and it’s approximately one-third of what an FTE (full-time employee) gets.
  1. How is RPA benefitting the industry and the employees worldwide?
  2. The primary benefit of RPA is that it replaces manually intensive tasks with machines minimizing the need for resources. Additionally, it allows the employees to shift to higher functioning roles and avoid wasting time in mundane workflow-based tasks.
  1. What two parameters indicate that innovative robotic process automation market applications will create demand for the automated workforce?
  2. According to Beroe’s insights, the two parameters that will create more demand and opportunities within the RPA market are: Companies are continuously evolving and looking for ways to apply automation (NLP, cognitive computing, etc.) in their operation cycle Rapid improvements in technology
  1. What are the primary constraints that influence the RPA workflow?
  2. The two constraints that affect the RPA workflow include: The workforce must satisfy technical and operating requirements for proper implementation and minimize risks involved in processes like modifying IT architecture, data compliance, etc. RPA must meet the expectations of both individual employees and the managers whose jobs are affected by its implementation
  1. How does robotics process automation in procurement division impact the suppliers?
  2. The RPA market in general is quite fragmented and involves a huge supplier base (global to regional) and thus competitive pricing and stiff competition exist between the suppliers.

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