Growing adoption of Robotic Process Automation (RPA) in back-office processes can be traced to its inception. According to Blue Prism Group Plc., a pioneer of RPA, till the first half of FY2018, over 1,000 organizations have used the platform.
Amidst the emergence of several new competitive technologies in the RPA market, adoption rate of the Blue Prism technology is on the rise. Blue Prism’s consistent development in terms of ecosystem expansion, continued product differentiation and talent acquisition are driving new users to the platform. Increasing success stories of faster deployment and increased return on investment are also driving the adoption among key end-users.
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Initially limited to automation of repetitive processes in the back-office, integration of AI and cognitive technologies in the Blue Prism Technology are delivering next-generation RPA solutions to clients, in turn, strengthening the presence in the RPA market.
Leading Blue Prism Technology Service Vendors Establish Strategic Alliances to Accelerate Growth
RPA solutions witness huge demand among global enterprises across industries, which is making a significant impact on the vital business strategies of Blue Prism technology service vendors. A palpable shift towards introducing RPA solutions is mainly attributed to growing awareness among end-users about extraordinary benefits of adopting RPA solutions. Leading players in the Blue Prism technology services market are collaborating with other vendors to leverage the growing demand for advanced RPA solutions, accelerate businesses and scale rapidly in the Blue Prism technology services market.
Blue Prism Group Plc., a UK based Blue Prism technology service provider, has collaborated with market leaders such as Accenture Plc., Deloitte Touche Tohmatsu Limited, and Avanade Inc., to introduce cutting-edge RPA tools by implementing Blue Prism technology services. The Blue Prism technology service company has also collaborated with Google Cloud to introduce RPA tools with pre-built integrations to Google Cloud Storage services such as BigQuery and Cloud ML Engine.
Needs for RPA Solutions Boost Adoption of Blue Prism Technology Services
As a mounting number of end-user businesses coupling RPA tools that are integrated with AI and cognitive services, players in the Blue Prism services are focusing on targeting specific end-user industries to envisage rapid growth. Addressing the industry-specific end-user requirements while developing various Blue Prism technology services is emerging as a popular trend in the Blue Prism technology services market.
Threats from Cheaper and Less Complex Alternatives Hamper Adoption
Factors, such as ease of use, license and maintenance costs, and cognitive capability, influence end-user organizations’ decisions to purchase automation tools such as Blue Prism technology services. Growing awareness about the distinctive features of popular alternatives to Blue Prism technology services, such as 'Automation Anywhere, is making a negative impact on the growth of the Blue Prism technology services market.
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Automation Anywhere remains one of the most sought-after choice of RPA tool for SMEs as it is much cheaper and easier to use than Blue Prism technology services. Furthermore, the cognitive IQ Bot technology incorporated in Automation Anywhere enables end-users provides end-users with RPA tools amalgamated with more advanced cognitive capabilities, which hampers adoption of Blue Prism technology services, impacting the market growth.
Growing Adoption of Industrial Automation Technologies Complements Market Growth
The importance of incorporating automation in various industrial procedures has increased dramatically, as process automation solutions, such as Blue Prism technology services, aid in enhancing business productivity and efficiency. Increasing adoption of industrial automation in developing countries to improve mass production across a wide range of industries remains a major driving force for the growth of the Blue Prism technology services market.
Growing incorporation of RPA tools in new application industries, such as Banking, Financial Services & Insurance (BSFI) and healthcare & life science, are influencing vital strategies of stakeholders in the Blue Prism technology services market. End-user businesses that are willing make long-term investments in industrial automation are expected to provide a major boost for the growth of the Blue Prism technology services market in the upcoming years.
Fact.MR report provides readers with detailed information about leading vendors in the Blue Prism technology services market, such as Blue Prism Group Plc., Accenture Plc., Deloitte Touche Tohmatsu Limited, Ernst & Young LLP, Avanade Inc., Agilify Automation, Virtual Operations Ltd., Neoops Inc., Dirwa, and Quanton Limited.
The report feature critical information including Blue Prism technology service company overview, key financials, product offerings, region-wise presence of the company, and SWOT analysis of each Blue Prism technology service vendors, to help readers to track the strategic developments of their competitors in the Blue Prism technology services market.
A holistic approach is adopted by analysts at Fact.MR while conducting a thorough research on the growth of the Blue Prism technology services market during 2018-2028.
These conclusions are obtained at the end of detailed secondary and primary research on the Blue Prism technology services market. In-depth secondary research helps analysts to fathom the historical and recent data about the Blue Prism technology services market. Secondary research is followed by primary research, where analysts interview all the leading players in the Blue Prism technology services market.
Conclusions featured in the report about the expansion of the Blue Prism technology services market are accurate and unique. Fact.MR ensures the accuracy and reliability of all the information associated with the development of the Blue Prism technology services market during the forecast period.
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Blue Prism Technology Services Market to Witness Elevated Growth during the Assessment Period, 2018-
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