LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global Robotic Process Automation market and the market is poised to experience spend growth of more than USD over 4 billion between 2019-2024 at a CAGR of over more than 30%. Request free sample pages.
Read the 130 pages research report with TOC and LOE on "The Global Robotic Process Automation Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
This increase in robotic process automation procurement will be credited to the extensive adoption of RPA software by buyers in the banking sector. The implementation of RPA software reduces errors while verifying and sending loan applications to concerned departments.
North America will be one of the leading regions in the global robot process automation market. Robotic process automation procurement in this region will be driven a combination of factors such as robust cloud infrastructure, easy access to employees with high skill sets, reliable cybersecurity regulations, and strong awareness about emerging technologies among businesses.
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Insights into the market price trends
- The development of RPA solutions requires highly skilled employees which will consequently propel service providers’ employee acquisition costs. This will ultimately drive robotic process automation procurement costs.
- Rising consolidation in the cloud industry and the robotic process automation market will increase licensing costs of suppliers.
Insights into strategies that will help buyers optimize their procurement spend
- Buyers are advised to partner with suppliers who are known to take a collaborative approach to new product development. This enables suppliers to reduce their costs associated with product development along with cutting down contingency funds during the last stages of the project and adopting a rapid prototyping approach to new product development are also effective ways of reducing product development costs. This, in turn, will effectively minimize robotic process automation procurement costs.
- Prior to finalizing a contract with service providers, buyers are advised to conduct an extended live pilot project which will help them to assess the applicability of the solution to the organization’s needs.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Robotic Process Automation Market Procurement Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
Some of the top Robotic Process Automation suppliers enlisted in this report
This Robotic Process Automation market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Automation Anywhere Inc
- NICE Ltd
- Blue Prism
- Kryon System Ltd
- Kofax Inc
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Some of the key topics covered in this report are:
- Robotic Process Automation market spend segmentation by region
- Robotic Process Automation supply market analysis
- Regional spend opportunity for Robotic Process Automation suppliers
- Robotic Process Automation suppliers cost structure
- Total cost of ownership analysis in the Robotic Process Automation market
- Robotic Process Automation pricing models analysis
- Category management objectives
- Cost saving opportunities in the Robotic Process Automation market
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