Global Robotic Process Automation in BFSI Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Robotic Process Automation in BFSI market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global Robotic Process Automation in BFSI market size is expected to reach USD 3,457.8 million by 2026 according to a new study.
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The report “Robotic Process Automation in BFSI Market Share, Size, Trends, Industry Analysis Report By Type (Software and Services);
By Services (Consulting, Implementation, Training);
By Organization Size (SME, Large Enterprises);
By Application (Banking, Financial Services & Insurance);
By Regions, Segments & Forecast, 2019 – 2026″ gives a detailed insight into current market dynamics and provides analysis on future market growth.
Inherent benefits offered by robotic process automation (RPA) such as process transparency, enhanced customer service, on-boarding optimization of processes, highest degree of data integrity, shorter lifecycles, and ability to effectively comply with regulations of various enforcement agencies combined with the data driven nature of the overall banking and financial sector are some of the factors proving beneficial for the overall RPA in BFSI market growth. In addition, ability of RPA to help clients to capitalize and gain from growth opportunities thus providing a competitive edge is another factor responsible for the overall market growth.
Banking sector is characterized by the presence of a large number of players thus resulting in a high industrial rivalry. Due to such competitive environment, companies are trying to implement cost effective solutions that may help them to stay ahead of the competition. RPA is one such preferred solution. It automates the otherwise tedious manual operations thus saving precious man hours, results in client satisfaction thus ultimately catering to client loyalty, and provides better quality control through its operating procedures. Such factors have resulted in the overall Robotic Process Automation in BFSI growth in the past and this scenario is expected to continue till 2026.
Robotic Process Automation is used in a variety of applications such as entry of a new account across various platforms and networks, duplicating of accounts and account reconciliation, extraction of forms, VAT reporting, cleansing and updating of account, credit card processing, loan processing among others. These processes are directly related to customer experience and hence, companies are automating these processes through RPA to provide better and enhanced customer experience in order to gain more market share. Such trends are benefitting the Robotic Process Automation in BFSI market growth.
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North American region is expected to maintain its dominance over the market for the next eight years. High demand particularly from the U.S. market is a key contributor to this scenario. Presence of highly sophisticated and advanced banking and financial infrastructure in the country, strong presence of industry participants, coupled with high demand for enhanced customer experience are some of the factors driving the market growth in the region. Countries such as China, Japan and South Korea are primarily driving the growth in Asia Pacific region, which is anticipated to witness high growth rate till 2026.
Some of the major industry participants includeWorkFusion, Inc., UiPath, Thoughtonomy, Softomotive, Kryon Systems, Pegasystems Inc., NICE, Blue Prism, Kofax Inc. and Automation Anywhere Inc., among others.Companies are trying to provide one stop solutions to all the needs of their clients and are constantly developing new solutions to cater to the customized needs of the clients.
The RPA in BFSI market has been segmented on the basis of type, service, organization, application, and region
RPA in BFSI Type Outlook (Revenue, USD Million, 2015 – 2026)
Software
Service
RPA in BFSI Service Outlook (Revenue, USD Million, 2015 – 2026)
Consulting
Training
Implementation
RPA in BFSI Organization Size Outlook (Revenue, USD Million, 2015 – 2026)
SME
Large Scale
RPA in BFSI Application Outlook (Revenue, USD Million, 2015 – 2026)
Banking
Financial services & institution
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RPA in BFSI Regional Outlook (Revenue, USD Million, 2015 – 2026)
North America
U.S.
Canada
Europe
France
Germany
UK
Asia Pacific
Japan
South Korea
China
India
Latin America
Brazil
Mexico
Middle East & Africa
Key questions answered in the global Robotic Process Automation in BFSI market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Robotic Process Automation in BFSI market over the forecast period?
- What are the factors driving and restraining the market for Robotic Process Automation in BFSI?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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