The South America Robotic Process Automation market accounted to US$ 64.3 Mn in 2018 and is expected to grow at a CAGR of 36.2% during the forecast period 2019 - 2027, to account to US$ 1,009.1 Mn by 2027.
Due to the increase in the demand for network the telecom industry is facing many challenges in providing the advanced services to its customers. The issues faced by various companies are handling a huge capacity of data, developing new and advanced services, and focusing on business efficiency. Thus, by the adoption of RPA by telecom industry will allow the companies to handle the issues and reorganize its business processes. RPA will permit the companies to easily manage its back office responsibilities as well as handle large volumes of monotonous and rules-based operational processes. The above factors drive the South America Robotic Process Automation market. Furthermore, the key stake holders of South America Robotic Process Automation market include BPM service provider, RPA technology provider, technology integrator, service providers, and end-users or customers. The BPM service providers includes companies such as Infosys, TCS, IBM, Xerox, and others. The RPA technology providers includes IPSoft, BluePrism, OpenSpan, and others.Lucrative Region Robotic Process Automation Market
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South America Robotic Process Automation Market Insights
Opportunities within the BPO & shared services
Robotics and automation are disruptively transforming the way businesses function. Presently, more than half of the BPO (Business Process Outsourcing) service providers across the globe are engaged into mere replication of client processes, at reduced costs. However, the rapidly advancing technological environment is imposing constant pressure on the BPOs, as their conventional methods pertain to obsolete over the coming years. In addition, the end-clients are also considering automation of processes, while selecting BPO service provider. Owing to these factors the BPO service providers are witnessed investing into robotic automation of various repetitive processes.
In past few years, the BPO service providers, who have already implemented RPA solutions, have attained significant improvisations in their productivity levels and experienced noteworthy gain in their financial stats. This has further encouraged several other BPO service providers to implement RPA at an early stage in order to identify future growth opportunities, reduce debts and evade unwanted costs. In the year 2014, UiPath and Capgemini began to work on an advanced RPA technology, which after a year had reaped into cost reductions exceeded by 60 to 70%. This trend had received positive response from other BPO service providers.
In coming years as RPA innovation advances, more and more BPO, shared services and captive operation initiatives are expected to become targeted for minimal or no human involvement. They would be likely to retool their business models in order to reflect higher service levels such as cost reduction, and enhanced cycle speed. This refurbished business model of the BPOs will have to incorporate RPA products. These factors are expected to drive South America Robotic Process Automation market.
RPA Cost benefits attracting the buyers
RPA provides its users with an ability to in-source and off-shore RPA managed services, which further enables them to regain governance over process without any surplus cost. The cost incurred might even be lesser than off-shore process without RPA. Furthermore, the buyers are also attracted towards the robust return on investments offered through RPA deployments.
The implementation of RPA has proven to provide its buyers with enhanced predictability of costs, and refine overall management of cost, subsequently allowing them to recognize the opportunity to deploy the staff on higher and strategic value roles. Further, as RPA gradually shift to mainstream, several client organizations are expected to find it more comfortable in transiting from traditional incumbent service providers to modern RPA capabilities.
Another factor that is significantly influencing the buyers to invest in RPA driven deals is the rising pressure on them to sustain profitability, regulatory issues and management of increasing cost of offshoring. These factors are expected to drive South America Robotic Process Automation market.
Increased demand for RPA software solutions
Although RPA is at its peak of hype cycle, the advances that are taking place in the technology along with notable success rate showcased by the early adopters has significantly increased the demand for more disruptive RPA software solutions among the large enterprises. The RPA software and service providers have been constantly directing their efforts towards innovating their existing product offerings. These initiatives taken by the market players aims to overcome the key existing challenges in the South America Robotic Process Automation market. The continuous evolution in the product innovation is thus attracting significant interest from the various end-users.
For instance, recently, UiPath along with Humley introduced a chat and speech driven control for enterprise RPA. Apart from this other leading market players like Automation Anywhere and Blue Prism are also making noteworthy investment for stimulating innovation in their offerings. In future years, the South America Robotic Process Automation market is expected to experience several advancements in the technology, subsequently leading to up surged demand for RPA solutions not only in large but also in small and medium enterprises. Thus, these factors are expected to drive South America Robotic Process Automation market.
South America Robotic Process Automation Market - Component Insights
The South America Robotic Process Automation market by component has been segmented into solution and services. In South America Robotic Process Automation market, services segment mainly comprises of training and professional services. The professional services segment further includes various services such as consulting, support and maintenance, and system integration. In South America Robotic Process Automation market, the solution segment holds more share in the year 2019 due to recurring license cost of RPA software. The solution facilitates improvised data security, business efficiency and effectiveness by impersonating human activities and automating routine processes across varied business functions without hampering the on-going system and infrastructure.
South America Robotic Process Automation Market - Component Insights.PNG
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South America Robotic Process Automation Market - Industry Vertical Insights
The South America Robotic Process Automation market by industry vertical segment is segmented as BFSI, retail, telecommunication, manufacturing, transportation & logistics and others. RPA provides better scalability, reliability, intelligence, speed, enterprise-class, and simplicity to the enterprise leaders. It allows all the employees in a company to interpret and capture the already existing applications for handling various process such as transaction, triggering the response, manipulation of data, and communicating with various other digital systems. RPA are being used where huge number of labor are employed for performing high-volume, highly transactional process functions, for boosting the proficiencies in efficient time by using software. In South America Robotic Process Automation market, BFSI segment accounts for largest market share as RPA automates and expects opportunities for KYC processes with efficient customer’s service, continuous collection and monitoring of data, and account closure processing.
South America Robotic Process Automation Market - Country Insights
The South America Robotic Process Automation market by Country is segmented as Brazil, Colombia, and rest of South America. Robotics has become an exhilarating capability enabling the service providers to suite up their clients with an ability to further digitalize their business processes. The trend is expected to witness significant adoption in South America Robotic Process Automation market for the year to come. In South America Robotic Process Automation market, Brazil accounts for largest market share as various robotics pioneers have expressed their willingness to invest in the technology.
South America Robotic Process Automation Market -
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South America Robotic Process Automation Market: Strategic Insights
Market Size Value in US$ 64.3 Million in 2018 Market Size Value by US$ 1,009.1 Million by 2027 Growth rate CAGR of 36.2% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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South America Robotic Process Automation Market: Strategic Insights
| Market Size Value in | US$ 64.3 Million in 2018 |
| Market Size Value by | US$ 1,009.1 Million by 2027 |
| Growth rate | CAGR of 36.2% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Merger and acquisition was observed as the most adopted strategy in South America Robotic Process Automation market. Few of the recent mergers and acquisitions are listed below;
2018:
Strategic partnership between Pegasystems Inc. and Idio Ltd (an orchestration platform for Business-to-Business marketing), enabling B2B organizations to present relevant content that hastens customer purchasing journeys. By merging the power of Idio’s content intelligence engine and Pega’s artificial intelligence driven real time customer decision platform, both the companies can close more B2B deals by providing the precise contextual content in the moment across any channel.SOUTH AMERICA ROBOTIC PROCESS AUTOMATION MARKET –SEGMENTATION
Robotic Process Automation by Component
- Solution
- Services
- Training Services
- Professional Services
Robotic Process Automation by Industry Vertical
- BFSI
- Retail
- Telecommunication
- Healthcare
- Transportation & Logistics
- Others
Robotic Process Automation by Country
- Brazil
- Colombia
- Rest of South America
Company Profiles
- Atos SE
- Blue Prism Group PLC
- NICE SYSTEMS
- Pegasystems Inc.
- Thoughtonomy LTD
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
The List of Companies - South America Robotic Process Automation Market
- Atos SE
- Blue Prism Group PLC
- NICE SYSTEMS
- Pegasystems Inc.
- Thoughtonomy LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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