This market research report includes a detailed segmentation of the RPA market in India by component (software and services), by organization size (SMEs and large enterprises), by application (customer service, finance & accounting, human resource, marketing, and logistics & supply chain), and by industry (BFSI, telecom & media, healthcare & life sciences, retail & consumer goods, manufacturing, transportation & logistics, and others). The market research report identifies UiPath, Blue Prism, Automation Anywhere, Kofax, and WorkFusion as the leaders operating in the RPA market.
Overview of the RPA Market in India
Trends market research report predicts that the RPA market in India will grow at a CAGR of above 20.0% during the forecast period 2019–2025. The market for RPA in India is driven by the increasing demand to automate accounting and process management. Furthermore, RPA vendors are focusing on developing best-in-class intelligent process automation bots.
RPA software helps enterprises to reduce human resource requirement in various customer support activities. The automation of business processes minimizes a lot of work along with managing huge client base and continuous 24/7 support from the bots.
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According to our analysis, the Indian RPA market is lagging behind North America and Europe regions. The RPA vendors are trying to penetrate the Indian market and take early entrant advantage. India is considered to be a favorite destination for the RPA market growth in the near future. Also, several other RPA players are expected to expand their presence by serving local markets and offering customized services to clients. RPA is still in its infancy stage; the market faces various restraints, including change in the organization structure while adopting RPA and lack of understanding to integrate business processes with RPA. The growth of RPA is anticipated to assist organizations in optimizing various back-end processes.
RPA Market in India Research Competitive Analysis and Key Vendors
The report covers and analyzes the RPA market in India. The major financial service organizations are planning for investments in RPA to increase their profit margins. The key players in the RPA market are adopting various organic as well as inorganic growth strategies such as collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Few of the Key Vendors in the RPA Market in India:
- Blue Prism
- Automation Anywhere
These companies are striving in the market sphere by acquiring clients across regions from telecom operators to stay ahead in the competitive world. For instance, SAP acquired Contextor, thereby enhancing its internal policies as well as making it a suitable vendor for RPA. Blue Prism acquired Thoughtonomy to strengthen its offering in intelligent automation and cloud services.
There are few other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
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RPA Market in India Segmentation By Component
- Support & Maintenance
- Training & Consulting
Services contribute to the majority of the market share. Support & maintenance is expected to grow at the highest CAGR during the forecast period 2019–2025.
RPA Market in India Segmentation By Organization Size
- Large Enterprises
The large enterprises segment is estimated to hold the largest market share during the forecast period 2019–2025.
RPA Market in India Segmentation By Application
- Customer Service
- Finance & Accounting
- Human Resource
- Logistics & Supply chain
Customer service is estimated to hold the largest market share during the forecast period 2019–2025.
RPA Market in India Segmentation By Industry
- Telecom & Media
- Healthcare & Life Sciences
- Retail & Consumer Goods
- Transportation & Logistics
BFSI is estimated to hold the largest market share during the forecast period 2019–2025.
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RPA Market in India Research Benefits
The report provides an in-depth analysis of the RPA market in India. RPA combines various technologies of automation using rule-based and cognitive capabilities to deploy bots. By analyzing various customer experience areas, intelligent features, and automated controls, RPA is expected to provide next-generation experience and capability to handle huge customers in hospitals and clinics. Vendors are focusing on successfully deploying bots for various applications. For building long-lasting and better management in managing their customers, large enterprises are investing in process automation software to hold greater market share. With the introduction of NLP, ML, and AI, the RPA market is expected to grow significantly to improve customer services and help hospitals in optimizing services and gaining profit margins. The report discusses the market in terms of component, organization size, application, and industry. Furthermore, the report provides details about the major challenges impacting the market growth. The RPA vendors are focusing on enhancing the partner ecosystem across geographies to widen their reach and gain new customers.