Global Cognitive Robotic Process Automation Market (2017-2026): BIS Research
Product is added to your Wishlist
Global Cognitive Robotic Process Automation Market

Global Cognitive Robotic Process Automation Market, Analysis & Forecast 2017-2026 Focus on Type (Services and Platform) and Industry (Finance and banking, Telecom and IT Services, Insurance and Healthcare)

The global cognitive robotic process automation market is expected to reach $3,620.8 million by 2026. Owing to the growing demand for digital workforce in order to increase efficiency and reduce operating cost in business processes, the global cognitive robotic process automation market is expected to grow rapidly at the CAGR of 60.9% during 2017-2026.

SKU: AD033A
Published Year: 2017
 
 

Cognitive RPA is becoming one of the fastest moving technologies that is helping the enterprises to automate their complex repetitive tasks done by humans which takes lot of time and efforts. RPA technology vendors are integrating cognitive capabilities within RPA platforms for making it more advanced and intelligent. Global cognitive robotic process automation market is rapidly growing due to increasing adoption of digital workforce across different industries. Cognitive technologies integrated within robotic process automation helps to automate complex repetitive tasks by enabling decision making capabilities. This helps to carry out activities such as data entry and reconciliations. Cognitive automation requires human assistance only in cases where it encounters some of the unknown problems and queries. Cognitive robotic process automation learns from the human operator in order to improve its automation capabilities for the next time if it encounters the same problem.

This high scale growth of cognitive robotic process automation industry is subsequently influencing the market, wherein new cognitive technologies are being developed. The increasing interest towards the adoption of digital workforce in order to reduce cost and increase efficiency  
is considered to be the key drivers for its increased adoption across multiple industries. 

Moreover, developments in the cognitive technologies as well as the increasing demand of automation from financial sector is providing an opportunity for the growth of the global cognitive robotic process automation market. There are mainly two types of cognitive robotic process automation market that includes services and platforms. In addition to this, the market of cognitive robotic process automation platform is expected to have the highest growth rate during the forecast period 2017-2026 due to the high demand across Asia-Pacific region. By analysis, global cognitive robotic process automation market is estimated to generate a revenue of $50.0 million in 2017 and is forecast to grow at a CAGR of 60.9% during 2017-2026. North America is expected to acquire most of the revenue in the global cognitive robotic process automation market in 2017 with the U.S. acquiring most of the market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2017-2026.

Following points provide a concrete description of the report content and the topics covered in the report:

•    This report identifies the global cognitive robotic process automation market under different segments such as types, industries and regions

•    It  examines prime supply side factors affecting the growth of the market along with the current and future trends, market drivers, restraints and challenges prevalent in the global cognitive robotic process automation market

•    The report also highlights the value chain of the industry with a major focus on the technology roadmap

•    A detailed competitive analysis has been included in this report which focuses on the ¬key market developments & strategies followed by the key players in the market. Additionally, market share analysis model has been included in the existing study which analyzes the share of the market players in the global cognitive robotic process automation market

•    Different types of the global cognitive robotic process automation market, such as services and platforms, has been estimated and analyzed in the report 

•    Different industries, such as finance and banking, insurance, healthcare, telecom and IT services and others, which are expected to enhance the demand of the cognitive robotic process automation has been estimated and analyzed in the report 

•    The global cognitive robotic process automation has been analyzed in the report for major regions including North America, Europe, Asia-Pacific, and rest of the world  

•    A detailed Porter’s Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the cognitive robotic process automation market

•    The study provides detailed analysis of the 15 key players in the cognitive robotic process automation market including Blue Prism, Automation Anywhere, IPsoft, NICE Systems Ltd., UiPath, Verint System Inc., WorkFusion, Pegasystems Inc., Kryon Systems, Kofax, Thoughtonomy Ltd., Redwood Software Inc., Arago and Celaton Ltd., among others, in the Company Profiles section. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.

TABLE OF CONTENT
Executive Summary
1 Scope & Research Methodology
1.1 Research Scope
1.2 Global Cognitive Robotic Process Automation Market Research Methodology
2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Adoption of Digital Workforce
2.1.2 Non-Invasive Nature Along with Increased Accuracy
2.1.3 Reduction in Operational Cost
2.2 Market Challenges
2.2.1 Threat to the Global Employment
2.3 Market Opportunities
2.3.1 Increasing Utilization of Cognitive Robotic Process Automation in Financial Sector
2.3.2 Advancements in Cognitive Technology
3 Competitive Insights
3.1 Competitive Landscape
3.2 Strategic Benchmarking
3.3 Key Strategies and Developments
3.3.1 Partnerships, Agreements and Contracts
3.3.2 Product Launches
3.3.3 Mergers and Acquisitions
3.3.4 Other Developments
3.4 Market Share Analysis
3.5 Industry Attractiveness: Porter’s Five Forces Analysis
4 Industry Analysis
4.1 Process Automation Available Modes
4.2 Transformation of RPA into Cognitive Robotic Process Automation
4.3 Product Offering Analysis
4.4 Value Chain Analysis
5 Global Cognitive Robotic Process Automation Market, 2017-2026
5.1 Assumptions and Limitations
5.2 Market Overview
6 Global Cognitive Robotic Process Automation Market, by Type
6.1 Market Overview
6.2 Services
6.3 Platform
7 Global Cognitive Robotic Process Automation Market, by Industry
7.1 Market Overview
7.2 Finance & Banking
7.3 Telecom and IT Services
7.4 Insurance
7.5 Healthcare
7.6 Others
8 Global Cognitive Robotic Process Automation Market, by Region
8.1 Market Overview
8.2 North American Cognitive Robotic Process Automation Market
8.2.1 North American Cognitive Robotic Process Automation Market, by Industry
8.2.2 North American Cognitive Robotic Process Automation Market, by Country
8.2.2.1 The U.S.
8.2.2.2 Canada
8.3 European Cognitive Robotic Process Automation Market
8.3.1 European Cognitive Robotic Process Automation Market, by Industry
8.3.2 European Cognitive Robotic Process Automation Market, by Country
8.3.2.1 The U.K.
8.3.2.2 Germany
8.3.2.3 France
8.3.2.4 Denmark
8.4 Asia Pacific Cognitive Robotic Process Automation Market
8.4.1 Asia-Pacific Cognitive Robotic Process Automation Market, by Industry
8.4.2 Asia-Pacific Cognitive Robotic Process Automation Market, by Country
8.4.2.1 Australia
8.4.2.2 Singapore
8.4.2.3 Japan
8.4.2.4 India
8.5 Rest of the World Cognitive Robotic Process Automation Market
8.5.1 Rest of the World Cognitive Robotic Process Automation Market, by Industry
8.5.2 Rest of the World Cognitive Robotic Process Automation Market, by Region
9 Company Profile
9.1 Blue Prism
9.1.1 Company Overview
9.1.2 Products & Services
9.1.3 Financials
9.1.3.1 Overall Financials
9.1.3.2 Financial Summary
9.1.4 SWOT Analysis
9.2 Automation Anywhere
9.2.1 Company Overview
9.2.1.1 Products & Services
9.2.2 SWOT Analysis
9.3 IPsoft
9.3.1 Company Overview
9.3.2 Product & Services
9.3.3 SWOT Analysis
9.4 NICE Systems Ltd.
9.4.1 Company Overview
9.4.2 Products & Services
9.4.3 Financials
9.4.3.1 Overall Financials
9.4.3.2 Financial Summary
9.4.4 SWOT Analysis
9.5 UiPath
9.5.1 Company Overview
9.5.2 Products & Services
9.5.3 SWOT Analysis
9.6 Verint System Inc.
9.6.1 Company Overview
9.6.2 Products and Services
9.6.3 Financials
9.6.3.1 Overall Financials
9.6.3.2 Financial Summary
9.6.4 SWOT Analysis
9.7 WorkFusion
9.7.1 Company Overview
9.7.2 Products and Services
9.7.3 SWOT Analysis
9.8 Pegasystems Inc.
9.8.1 Company Overview
9.8.2 Products & Services
9.8.3 Financials
9.8.3.1 Overall Financials
9.8.3.2 Financial Summary
9.8.4 SWOT Analysis
9.9 Celaton Ltd.
9.9.1 Company Overview
9.9.2 Products & Services
9.9.3 SWOT Analysis
9.10 Redwood software Inc.
9.10.1 Company Overview
9.10.2 Products & Service
9.10.3 SWOT Analysis
9.11 Kryon Systems
9.11.1 Company Overview
9.11.2 Products & Services
9.11.3 SWOT Analysis
9.12 Kofax
9.12.1 Company Overview
9.12.2 Products & Services
9.12.3 SWOT Analysis
9.13 Thoughtonomy ltd
9.13.1 Company Overview
9.13.2 Products & Services
9.13.3 SWOT Analysis
9.14 IBM
9.14.1 Company Overview
9.14.2 Products & Services
9.14.3 Financials
9.14.3.1 Overall Financials
9.14.3.2 Financial Summary
9.14.4 SWOT Analysis
9.15 Arago
9.15.1 Company Overview
9.15.2 Products & Services
9.15.3 SWOT Analysis
10 Appendix
10.1 Related Reports
List of Tables
Table 3.1 Partnerships, Agreements and Contracts
Table 3.2 Product Launches
Table 3.3 Mergers and Acquisitions
Table 3.4 Other Developments
Table 3.5 Analyzing Threat from New Entrants
Table 3.6 Analyzing Threat from Substitute Products or Services
Table 3.7 Analyzing Bargaining Power of Suppliers
Table 3.8 Analyzing Bargaining Power of Buyers
Table 3.9 Analyzing Intensity of Competitive Rivalry
Table 4.1 Stages of RPA to Follow Human Actions
Table 4.2 Different Companies & Respective Product Offerings for Cognitive Robotic Process Automation
Table 6.1 Global Cognitive Robotic Process Automation Market by Type, 2017-2026
Table 7.1 Global Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Table 8.1 Global Cognitive Robotic Process Automation Market Size, by Region, 2017-2026
List of Figures
Figure 1 Benefits of Cognitive Robotic Process Automation
Figure 2 Global Cognitive Robotic Process Automation Market, 2017 & 2026
Figure 3 Global Cognitive Robotic Process Automation Market by Type, 2017 & 2026 ($Million)
Figure 4 Global Cognitive Robotic Process Automation Market by Industry, 2017 & 2026 ($Million)
Figure 5 Global Cognitive Robotic Process Automation Market by Region, 2017& 2026 ($Million)
Figure 6 Global Cognitive Robotic Process Automation Market by Country, 2017 ($Million)
Figure 7 Industrial Distribution of Cognitive Robotic Process Automation Market by Region, 2017& 2026 ($Million)
Figure 1.1 Cognitive Robotic Process Automation Market Scope
Figure 1.2 Research Methodology
Figure 1.3 Secondary Data Sources
Figure 1.4 Data Triangulation
Figure 1.5 Top Down and Bottom up Approach
Figure 1.6 Global Cognitive Robotic Process Automation Market Influencing Factors
Figure 1.7 Assumptions and Limitations
Figure 2.1 Market Dynamics Snapshot
Figure 2.2 Impact Analysis on Market Drivers
Figure 2.3 Impact Analysis on Market Challenges
Figure 2.4 Impact Analysis on Market Opportunities
Figure 2.5 Different Levels of Progressive Increase in Savings and Multiple Benefits
Figure 2.6 Benefits of Cognitive Robotic Process Automation Technology in Capital Market Firms
Figure 2.7 Characteristics of Cognitive Automation
Figure 3.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 3.2 Percentage Share of Strategies Adopted by the Market Players, 2015-2017
Figure 3.3 Competitive Benchmarking for Cognitive Robotic Process Automation Vendors
Figure 3.4 Market Share of Robotic Process Automation Vendors, 2016
Figure 3.5 Porter’s Five Forces Analysis
Figure 3.6 Threat from New Entrants
Figure 3.7 Threat from Substitute Products or Services
Figure 3.8 Bargaining Power of Suppliers
Figure 3.9 Bargaining Power of Buyers
Figure 3.10  Intensity of Competitive Rivalry
Figure 4.1 Process Automation Available Modes
Figure 4.2 Flow of RPA with Cognitive Technology
Figure 4.3 Stages of RPA Undertaking Cognitive Capabilities
Figure 4.4 Value Chain Analysis
Figure 5.1 Global Cognitive Robotic Process Automation Market, from 2017-2026
Figure 6.1 Classification of Global Cognitive Robotic Process Automation Market by Type
Figure 6.2 Global Cognitive Robotic Process Automation Market by Type, 2017 and 2026
Figure 6.3 Cognitive Robotic Process Automation Service Market, from 2017-2026
Figure 6.4 Cognitive Robotic Process Automation Service Providers
Figure 6.5 Cognitive Robotic Process Automation Platform Market, from 2017-2026
Figure 6.6 Cognitive Robotic Process Automation Platform Vendors
Figure 6.7 Cognitive Robotic Process Automation Platforms
Figure 7.1 Classification of Global Cognitive Robotic Process Automation Market by Industry
Figure 7.2 Global Cognitive Robotic Process Automation Market, by Industry, 2017 and 2026
Figure 7.3 Cognitive Robotic Process Automation Market in Finance & Banking, 2017 - 2026
Figure 7.4 Early Adopters of RPA in the Financial and Banking Sector
Figure 7.5 Cognitive Robotic Process Automation Major Impact Areas in the Finance and Banking Sector
Figure 7.6 Cognitive Robotic Process Automation Market in Telecom and IT Services, 2017-2026
Figure 7.7 BPO Companies using RPA
Figure 7.8 Cognitive Robotic Process Automation Market in Insurance, 2017-2026
Figure 7.9 RPA Deployed Areas in Insurance Industry
Figure 7.10 Benefits of Cognitive Robotic Process Automation for Automating Complex Tasks in Insurance Industry
Figure 7.11 Cognitive Robotic Process Automation Market in Healthcare, 2017- 2026
Figure 7.12 Some of the Application Areas of Cognitive Robotic Process Automation into Healthcare Industry
Figure 7.13 Benefits of Deploying Cognitive Robotic Process Automation into Healthcare Industry
Figure 7.14 Cognitive Robotic Process Automation Market in Other Industries, 2017- 2026
Figure 8.1 Global Cognitive Robotic Process Automation Market, by Region
Figure 8.2 Global Cognitive Robotic Process Automation Market, by Region, 2017 and 2026
Figure 8.3 North American Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.4 North American Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.5 The U.S. Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.6 World’s Top 10 Largest Economies in terms of GDP, 2016
Figure 8.7 The U.S. Healthcare Industry Challenges
Figure 8.8 Canada Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.9 European Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.10 European Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.11 The U.K. Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.12 Impact of RPA on Capita’s Business Process Outsourcing Business
Figure 8.13 Germany Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.14 France Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.15 Denmark Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.16 Asia-Pacific Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.17 Asia-Pacific Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.18 Australia Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.19 Singapore Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.20 Japan Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.21 India Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.22 Industries with RPA Platforms in India
Figure 8.23 Rest of the World Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.24 Latin America Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.25 Middle-East and Africa Cognitive Robotic Process Automation Market, 2017-2026
Figure 9.1 Version 6.0 Blue Prism RPA Software – Key Enhancements
Figure 9.2 Blue Prism – Overall Financials, 2014-2016
Figure 9.3 IPsoft Products and Services
Figure 9.4 NICE Systems– Overall Financials, 2014-2016
Figure 9.5 NICE Systems– Business Segment Revenue Mix, 2014-2016
Figure 9.6 NICE Systems– Geographic Revenue Mix, 2014-2016
Figure 9.7 Advantages of Integrating CyberArk with UiPath’s RPA Software Platform
Figure 9.8 Verint Systems Inc.-Solutions
Figure 9.9 Verint Systems Inc. – Overall Financials, 2014-2016
Figure 9.10 Verint Systems Inc. – Business Segment Revenue Mix, 2014-2016
Figure 9.11 Verint Systems Inc. – Geographic Revenue Mix, 2014-2016
Figure 9.12 WorkFusion-Technological Advancements, 2011-2017
Figure 9.13 Pegasystems Inc. – Overall Financials, 2014-2016
Figure 9.14 Pegasystems Inc. – Business Segment Revenue Mix, 2014-2016
Figure 9.15 inSTREAM Features
Figure 9.16 Redwood Software Inc. Product Features
Figure 9.17 Redwood Software Inc. Product Features
Figure 9.18 Kapow-Key Functional Areas
Figure 9.19 Thoughtonomy Virtual Workforce- Features
Figure 9.20 IBM Watson- Key Features
Figure 9.21 IBM – Overall Financials, 2014-2016
Figure 9.22 IBM – Business Segment Revenue Mix, 2015 & 2016
Figure 9.23 IBM – Business Segment Revenue Mix, 2014
Figure 9.24 IBM – Geographic Revenue Mix, 2014-2016
Figure 9.25 HIRO- Key Benefits

The technological shift towards the use of Robotic Process Automation (RPA) which helps to automate multiple tasks carried out by humans is changing the traditional ways to process business operations. There has been an increasing trend of digitizing labors through the use of mobile technology, big data and cloud computing, among others. Software bots are able to eliminate inefficiency and automate the routine tasks that consume a lot of time. There are number of companies that are already using robotic process automation for carrying out their business operations in order to reduce time and cost. The significant growth in the robotic process automation technology is increasing the trend of process automation in various applications across multiple industries including finance and banking, telecom and IT services, insurance and healthcare, among others.

There has been emergence of technologies including artificial intelligence, natural language processing, machine learning and voice recognition, among others. These technologies are being significantly used in cooperation with robotic process automation in order to make them advanced and enable intelligent automation. The integration of cognitive capabilities within robotic process automation leads to the development of cognitive robotic process automation. Cognitive RPA is an intelligent automation software tool which is able to automate multiple repetitive tasks that requires human interference and judgment. Cognitive robotic process automation augments the human worker while handing multiple business process. The cognitive robotic process automation bots escalate the unknown issues to the human operator. After escalation, the software bot learns from the experience and enhance its knowledge over time to handle problems on its own. Moreover, the rapidly increasing robotic process automation technology provides opportunities for the growth of cognitive technology enabled RPA software and solutions. There are various companies that are integrating cognitive technologies within robotic process automation software for enhancing their area of operations. The robotic process automation is able to automate perceptual and judgment-based tasks through the integration of multiple cognitive capabilities such as natural language processing, machine learning and speech recognition with in RPA.

FIGURE 1    GLOBAL COGNITIVE ROBOTIC PROCESS AUTOMATION, 2017-2026 ($MILLION)

Global Cognitive Robotic Process Automation Market

Source: Expert Interviews, Secondary Research and BIS Research Analysis

The global cognitive robotic process automation market is expected to reach $3,620.8 million by 2026. Owing to the growing demand for digital workforce in order to increase efficiency and reduce operating cost in business processes, the global cognitive robotic process automation market is expected to grow rapidly at the CAGR of 60.9% during 2017-2026. The global cognitive robotic process automation market majorly focuses on the types that includes services and platforms. The cognitive robotic process automation services is expected to acquire the highest market value in 2017 and is forecast to grow at a CAGR of 57.0%. The reason for such strong market share is attributed to its high cost of the services as compared with the platforms. Moreover, the market of cognitive robotic process automation platform is estimated to grow with the highest CAGR of 69.6% during 2017-2026 due to advancements in the cognitive technologies.

The cognitive robotic process automation technology is estimated to be utilized across various industries including finance and banking, insurance, healthcare, telecom and IT services and others. In 2017, the highest share of the global cognitive robotic process automation market is estimated to be acquired by finance and banking followed by telecom and IT services, insurance, healthcare and others. Finance and banking industry is expected to acquire ~39.8% of the global cognitive robotic process automation market, in 2017. However, insurance industry is expected to grow with the highest CAGR of 64.0% during 2017-2026.

North America is expected to dominate the global cognitive robotic process automation market in 2017 and is forecast to grow at a CAGR of 59.3% during the forecast period 2017-2026. However, Asia-Pacific is expected to grow at the highest CAGR of 63.1% during 2017-2026. Arago, Automation Anywhere, Blue Prism, IPsoft, Kofax, Kryon systems, NICE Systems, Pegasystems Inc., Redwood Software, Thoughtonomy Ltd., UiPath, Verint systems Inc. and WorkFusion, among others are some of the major players of the global cognitive robotic process automation market.

The U.S. is the most prominent nation in North America for the growth of the global cognitive robotic process automation market. The increased demand for cognitive robotic process automation in the U.S. is due to growing finance and banking as well as telecom and IT services industries. Europe is another leading region for using cognitive robotic process automation. Some of the prominent countries in the European region include the U.K., Germany, France and Denmark, among others.  

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2017-2026. Some of the prominent nations in Asia-Pacific region includes Australia, Singapore, Japan and India, among others. The rising demand is caused by emerging economies across Asia-Pacific region. Furthermore, rest of the countries in Asia-Pacific region is expected to show the highest growth rate in the global cognitive robotic process automation market. The Asia-Pacific region could provide a lot more opportunities to the new entrants in the market. The rest of the world includes Middle-East, Africa and Latin America; the region is estimated to have a rapid growth rate for cognitive robotic process automation market during the forecast period 2017-2026.

We understand that your business need specific answers pertaining to the market. And , therefore, we do provide customised research tailored to your need.

With the purchase of this report, you are entitled to certain degree of free customisation within the scope of the study.

Do get in touch to help us understand how we can serve u better with a custom solution to your research needs. We assure quick turnaround for your pressing business requirements.

Contact Information


Name *
Email *
 
Company Name *
Designation
 
 
Contact No. *
Other Details
 
 

Write the characters in the image above
 
 
* Required Fields
 

Cognitive RPA is becoming one of the fastest moving technologies that is helping the enterprises to automate their complex repetitive tasks done by humans which takes lot of time and efforts. RPA technology vendors are integrating cognitive capabilities within RPA platforms for making it more advanced and intelligent. Global cognitive robotic process automation market is rapidly growing due to increasing adoption of digital workforce across different industries. Cognitive technologies integrated within robotic process automation helps to automate complex repetitive tasks by enabling decision making capabilities. This helps to carry out activities such as data entry and reconciliations. Cognitive automation requires human assistance only in cases where it encounters some of the unknown problems and queries. Cognitive robotic process automation learns from the human operator in order to improve its automation capabilities for the next time if it encounters the same problem.

This high scale growth of cognitive robotic process automation industry is subsequently influencing the market, wherein new cognitive technologies are being developed. The increasing interest towards the adoption of digital workforce in order to reduce cost and increase efficiency  
is considered to be the key drivers for its increased adoption across multiple industries. 

Moreover, developments in the cognitive technologies as well as the increasing demand of automation from financial sector is providing an opportunity for the growth of the global cognitive robotic process automation market. There are mainly two types of cognitive robotic process automation market that includes services and platforms. In addition to this, the market of cognitive robotic process automation platform is expected to have the highest growth rate during the forecast period 2017-2026 due to the high demand across Asia-Pacific region. By analysis, global cognitive robotic process automation market is estimated to generate a revenue of $50.0 million in 2017 and is forecast to grow at a CAGR of 60.9% during 2017-2026. North America is expected to acquire most of the revenue in the global cognitive robotic process automation market in 2017 with the U.S. acquiring most of the market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2017-2026.

Following points provide a concrete description of the report content and the topics covered in the report:

•    This report identifies the global cognitive robotic process automation market under different segments such as types, industries and regions

•    It  examines prime supply side factors affecting the growth of the market along with the current and future trends, market drivers, restraints and challenges prevalent in the global cognitive robotic process automation market

•    The report also highlights the value chain of the industry with a major focus on the technology roadmap

•    A detailed competitive analysis has been included in this report which focuses on the ¬key market developments & strategies followed by the key players in the market. Additionally, market share analysis model has been included in the existing study which analyzes the share of the market players in the global cognitive robotic process automation market

•    Different types of the global cognitive robotic process automation market, such as services and platforms, has been estimated and analyzed in the report 

•    Different industries, such as finance and banking, insurance, healthcare, telecom and IT services and others, which are expected to enhance the demand of the cognitive robotic process automation has been estimated and analyzed in the report 

•    The global cognitive robotic process automation has been analyzed in the report for major regions including North America, Europe, Asia-Pacific, and rest of the world  

•    A detailed Porter’s Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the cognitive robotic process automation market

•    The study provides detailed analysis of the 15 key players in the cognitive robotic process automation market including Blue Prism, Automation Anywhere, IPsoft, NICE Systems Ltd., UiPath, Verint System Inc., WorkFusion, Pegasystems Inc., Kryon Systems, Kofax, Thoughtonomy Ltd., Redwood Software Inc., Arago and Celaton Ltd., among others, in the Company Profiles section. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.

TABLE OF CONTENT
Executive Summary
1 Scope & Research Methodology
1.1 Research Scope
1.2 Global Cognitive Robotic Process Automation Market Research Methodology
2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Adoption of Digital Workforce
2.1.2 Non-Invasive Nature Along with Increased Accuracy
2.1.3 Reduction in Operational Cost
2.2 Market Challenges
2.2.1 Threat to the Global Employment
2.3 Market Opportunities
2.3.1 Increasing Utilization of Cognitive Robotic Process Automation in Financial Sector
2.3.2 Advancements in Cognitive Technology
3 Competitive Insights
3.1 Competitive Landscape
3.2 Strategic Benchmarking
3.3 Key Strategies and Developments
3.3.1 Partnerships, Agreements and Contracts
3.3.2 Product Launches
3.3.3 Mergers and Acquisitions
3.3.4 Other Developments
3.4 Market Share Analysis
3.5 Industry Attractiveness: Porter’s Five Forces Analysis
4 Industry Analysis
4.1 Process Automation Available Modes
4.2 Transformation of RPA into Cognitive Robotic Process Automation
4.3 Product Offering Analysis
4.4 Value Chain Analysis
5 Global Cognitive Robotic Process Automation Market, 2017-2026
5.1 Assumptions and Limitations
5.2 Market Overview
6 Global Cognitive Robotic Process Automation Market, by Type
6.1 Market Overview
6.2 Services
6.3 Platform
7 Global Cognitive Robotic Process Automation Market, by Industry
7.1 Market Overview
7.2 Finance & Banking
7.3 Telecom and IT Services
7.4 Insurance
7.5 Healthcare
7.6 Others
8 Global Cognitive Robotic Process Automation Market, by Region
8.1 Market Overview
8.2 North American Cognitive Robotic Process Automation Market
8.2.1 North American Cognitive Robotic Process Automation Market, by Industry
8.2.2 North American Cognitive Robotic Process Automation Market, by Country
8.2.2.1 The U.S.
8.2.2.2 Canada
8.3 European Cognitive Robotic Process Automation Market
8.3.1 European Cognitive Robotic Process Automation Market, by Industry
8.3.2 European Cognitive Robotic Process Automation Market, by Country
8.3.2.1 The U.K.
8.3.2.2 Germany
8.3.2.3 France
8.3.2.4 Denmark
8.4 Asia Pacific Cognitive Robotic Process Automation Market
8.4.1 Asia-Pacific Cognitive Robotic Process Automation Market, by Industry
8.4.2 Asia-Pacific Cognitive Robotic Process Automation Market, by Country
8.4.2.1 Australia
8.4.2.2 Singapore
8.4.2.3 Japan
8.4.2.4 India
8.5 Rest of the World Cognitive Robotic Process Automation Market
8.5.1 Rest of the World Cognitive Robotic Process Automation Market, by Industry
8.5.2 Rest of the World Cognitive Robotic Process Automation Market, by Region
9 Company Profile
9.1 Blue Prism
9.1.1 Company Overview
9.1.2 Products & Services
9.1.3 Financials
9.1.3.1 Overall Financials
9.1.3.2 Financial Summary
9.1.4 SWOT Analysis
9.2 Automation Anywhere
9.2.1 Company Overview
9.2.1.1 Products & Services
9.2.2 SWOT Analysis
9.3 IPsoft
9.3.1 Company Overview
9.3.2 Product & Services
9.3.3 SWOT Analysis
9.4 NICE Systems Ltd.
9.4.1 Company Overview
9.4.2 Products & Services
9.4.3 Financials
9.4.3.1 Overall Financials
9.4.3.2 Financial Summary
9.4.4 SWOT Analysis
9.5 UiPath
9.5.1 Company Overview
9.5.2 Products & Services
9.5.3 SWOT Analysis
9.6 Verint System Inc.
9.6.1 Company Overview
9.6.2 Products and Services
9.6.3 Financials
9.6.3.1 Overall Financials
9.6.3.2 Financial Summary
9.6.4 SWOT Analysis
9.7 WorkFusion
9.7.1 Company Overview
9.7.2 Products and Services
9.7.3 SWOT Analysis
9.8 Pegasystems Inc.
9.8.1 Company Overview
9.8.2 Products & Services
9.8.3 Financials
9.8.3.1 Overall Financials
9.8.3.2 Financial Summary
9.8.4 SWOT Analysis
9.9 Celaton Ltd.
9.9.1 Company Overview
9.9.2 Products & Services
9.9.3 SWOT Analysis
9.10 Redwood software Inc.
9.10.1 Company Overview
9.10.2 Products & Service
9.10.3 SWOT Analysis
9.11 Kryon Systems
9.11.1 Company Overview
9.11.2 Products & Services
9.11.3 SWOT Analysis
9.12 Kofax
9.12.1 Company Overview
9.12.2 Products & Services
9.12.3 SWOT Analysis
9.13 Thoughtonomy ltd
9.13.1 Company Overview
9.13.2 Products & Services
9.13.3 SWOT Analysis
9.14 IBM
9.14.1 Company Overview
9.14.2 Products & Services
9.14.3 Financials
9.14.3.1 Overall Financials
9.14.3.2 Financial Summary
9.14.4 SWOT Analysis
9.15 Arago
9.15.1 Company Overview
9.15.2 Products & Services
9.15.3 SWOT Analysis
10 Appendix
10.1 Related Reports
List of Tables
Table 3.1 Partnerships, Agreements and Contracts
Table 3.2 Product Launches
Table 3.3 Mergers and Acquisitions
Table 3.4 Other Developments
Table 3.5 Analyzing Threat from New Entrants
Table 3.6 Analyzing Threat from Substitute Products or Services
Table 3.7 Analyzing Bargaining Power of Suppliers
Table 3.8 Analyzing Bargaining Power of Buyers
Table 3.9 Analyzing Intensity of Competitive Rivalry
Table 4.1 Stages of RPA to Follow Human Actions
Table 4.2 Different Companies & Respective Product Offerings for Cognitive Robotic Process Automation
Table 6.1 Global Cognitive Robotic Process Automation Market by Type, 2017-2026
Table 7.1 Global Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Table 8.1 Global Cognitive Robotic Process Automation Market Size, by Region, 2017-2026
List of Figures
Figure 1 Benefits of Cognitive Robotic Process Automation
Figure 2 Global Cognitive Robotic Process Automation Market, 2017 & 2026
Figure 3 Global Cognitive Robotic Process Automation Market by Type, 2017 & 2026 ($Million)
Figure 4 Global Cognitive Robotic Process Automation Market by Industry, 2017 & 2026 ($Million)
Figure 5 Global Cognitive Robotic Process Automation Market by Region, 2017& 2026 ($Million)
Figure 6 Global Cognitive Robotic Process Automation Market by Country, 2017 ($Million)
Figure 7 Industrial Distribution of Cognitive Robotic Process Automation Market by Region, 2017& 2026 ($Million)
Figure 1.1 Cognitive Robotic Process Automation Market Scope
Figure 1.2 Research Methodology
Figure 1.3 Secondary Data Sources
Figure 1.4 Data Triangulation
Figure 1.5 Top Down and Bottom up Approach
Figure 1.6 Global Cognitive Robotic Process Automation Market Influencing Factors
Figure 1.7 Assumptions and Limitations
Figure 2.1 Market Dynamics Snapshot
Figure 2.2 Impact Analysis on Market Drivers
Figure 2.3 Impact Analysis on Market Challenges
Figure 2.4 Impact Analysis on Market Opportunities
Figure 2.5 Different Levels of Progressive Increase in Savings and Multiple Benefits
Figure 2.6 Benefits of Cognitive Robotic Process Automation Technology in Capital Market Firms
Figure 2.7 Characteristics of Cognitive Automation
Figure 3.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 3.2 Percentage Share of Strategies Adopted by the Market Players, 2015-2017
Figure 3.3 Competitive Benchmarking for Cognitive Robotic Process Automation Vendors
Figure 3.4 Market Share of Robotic Process Automation Vendors, 2016
Figure 3.5 Porter’s Five Forces Analysis
Figure 3.6 Threat from New Entrants
Figure 3.7 Threat from Substitute Products or Services
Figure 3.8 Bargaining Power of Suppliers
Figure 3.9 Bargaining Power of Buyers
Figure 3.10  Intensity of Competitive Rivalry
Figure 4.1 Process Automation Available Modes
Figure 4.2 Flow of RPA with Cognitive Technology
Figure 4.3 Stages of RPA Undertaking Cognitive Capabilities
Figure 4.4 Value Chain Analysis
Figure 5.1 Global Cognitive Robotic Process Automation Market, from 2017-2026
Figure 6.1 Classification of Global Cognitive Robotic Process Automation Market by Type
Figure 6.2 Global Cognitive Robotic Process Automation Market by Type, 2017 and 2026
Figure 6.3 Cognitive Robotic Process Automation Service Market, from 2017-2026
Figure 6.4 Cognitive Robotic Process Automation Service Providers
Figure 6.5 Cognitive Robotic Process Automation Platform Market, from 2017-2026
Figure 6.6 Cognitive Robotic Process Automation Platform Vendors
Figure 6.7 Cognitive Robotic Process Automation Platforms
Figure 7.1 Classification of Global Cognitive Robotic Process Automation Market by Industry
Figure 7.2 Global Cognitive Robotic Process Automation Market, by Industry, 2017 and 2026
Figure 7.3 Cognitive Robotic Process Automation Market in Finance & Banking, 2017 - 2026
Figure 7.4 Early Adopters of RPA in the Financial and Banking Sector
Figure 7.5 Cognitive Robotic Process Automation Major Impact Areas in the Finance and Banking Sector
Figure 7.6 Cognitive Robotic Process Automation Market in Telecom and IT Services, 2017-2026
Figure 7.7 BPO Companies using RPA
Figure 7.8 Cognitive Robotic Process Automation Market in Insurance, 2017-2026
Figure 7.9 RPA Deployed Areas in Insurance Industry
Figure 7.10 Benefits of Cognitive Robotic Process Automation for Automating Complex Tasks in Insurance Industry
Figure 7.11 Cognitive Robotic Process Automation Market in Healthcare, 2017- 2026
Figure 7.12 Some of the Application Areas of Cognitive Robotic Process Automation into Healthcare Industry
Figure 7.13 Benefits of Deploying Cognitive Robotic Process Automation into Healthcare Industry
Figure 7.14 Cognitive Robotic Process Automation Market in Other Industries, 2017- 2026
Figure 8.1 Global Cognitive Robotic Process Automation Market, by Region
Figure 8.2 Global Cognitive Robotic Process Automation Market, by Region, 2017 and 2026
Figure 8.3 North American Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.4 North American Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.5 The U.S. Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.6 World’s Top 10 Largest Economies in terms of GDP, 2016
Figure 8.7 The U.S. Healthcare Industry Challenges
Figure 8.8 Canada Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.9 European Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.10 European Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.11 The U.K. Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.12 Impact of RPA on Capita’s Business Process Outsourcing Business
Figure 8.13 Germany Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.14 France Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.15 Denmark Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.16 Asia-Pacific Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.17 Asia-Pacific Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.18 Australia Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.19 Singapore Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.20 Japan Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.21 India Cognitive Robotic Process Automation Market Size, 2017-2026
Figure 8.22 Industries with RPA Platforms in India
Figure 8.23 Rest of the World Cognitive Robotic Process Automation Market, by Industry, 2017-2026
Figure 8.24 Latin America Cognitive Robotic Process Automation Market, 2017-2026
Figure 8.25 Middle-East and Africa Cognitive Robotic Process Automation Market, 2017-2026
Figure 9.1 Version 6.0 Blue Prism RPA Software – Key Enhancements
Figure 9.2 Blue Prism – Overall Financials, 2014-2016
Figure 9.3 IPsoft Products and Services
Figure 9.4 NICE Systems– Overall Financials, 2014-2016
Figure 9.5 NICE Systems– Business Segment Revenue Mix, 2014-2016
Figure 9.6 NICE Systems– Geographic Revenue Mix, 2014-2016
Figure 9.7 Advantages of Integrating CyberArk with UiPath’s RPA Software Platform
Figure 9.8 Verint Systems Inc.-Solutions
Figure 9.9 Verint Systems Inc. – Overall Financials, 2014-2016
Figure 9.10 Verint Systems Inc. – Business Segment Revenue Mix, 2014-2016
Figure 9.11 Verint Systems Inc. – Geographic Revenue Mix, 2014-2016
Figure 9.12 WorkFusion-Technological Advancements, 2011-2017
Figure 9.13 Pegasystems Inc. – Overall Financials, 2014-2016
Figure 9.14 Pegasystems Inc. – Business Segment Revenue Mix, 2014-2016
Figure 9.15 inSTREAM Features
Figure 9.16 Redwood Software Inc. Product Features
Figure 9.17 Redwood Software Inc. Product Features
Figure 9.18 Kapow-Key Functional Areas
Figure 9.19 Thoughtonomy Virtual Workforce- Features
Figure 9.20 IBM Watson- Key Features
Figure 9.21 IBM – Overall Financials, 2014-2016
Figure 9.22 IBM – Business Segment Revenue Mix, 2015 & 2016
Figure 9.23 IBM – Business Segment Revenue Mix, 2014
Figure 9.24 IBM – Geographic Revenue Mix, 2014-2016
Figure 9.25 HIRO- Key Benefits

The technological shift towards the use of Robotic Process Automation (RPA) which helps to automate multiple tasks carried out by humans is changing the traditional ways to process business operations. There has been an increasing trend of digitizing labors through the use of mobile technology, big data and cloud computing, among others. Software bots are able to eliminate inefficiency and automate the routine tasks that consume a lot of time. There are number of companies that are already using robotic process automation for carrying out their business operations in order to reduce time and cost. The significant growth in the robotic process automation technology is increasing the trend of process automation in various applications across multiple industries including finance and banking, telecom and IT services, insurance and healthcare, among others.

There has been emergence of technologies including artificial intelligence, natural language processing, machine learning and voice recognition, among others. These technologies are being significantly used in cooperation with robotic process automation in order to make them advanced and enable intelligent automation. The integration of cognitive capabilities within robotic process automation leads to the development of cognitive robotic process automation. Cognitive RPA is an intelligent automation software tool which is able to automate multiple repetitive tasks that requires human interference and judgment. Cognitive robotic process automation augments the human worker while handing multiple business process. The cognitive robotic process automation bots escalate the unknown issues to the human operator. After escalation, the software bot learns from the experience and enhance its knowledge over time to handle problems on its own. Moreover, the rapidly increasing robotic process automation technology provides opportunities for the growth of cognitive technology enabled RPA software and solutions. There are various companies that are integrating cognitive technologies within robotic process automation software for enhancing their area of operations. The robotic process automation is able to automate perceptual and judgment-based tasks through the integration of multiple cognitive capabilities such as natural language processing, machine learning and speech recognition with in RPA.

FIGURE 1    GLOBAL COGNITIVE ROBOTIC PROCESS AUTOMATION, 2017-2026 ($MILLION)

Global Cognitive Robotic Process Automation Market

Source: Expert Interviews, Secondary Research and BIS Research Analysis

The global cognitive robotic process automation market is expected to reach $3,620.8 million by 2026. Owing to the growing demand for digital workforce in order to increase efficiency and reduce operating cost in business processes, the global cognitive robotic process automation market is expected to grow rapidly at the CAGR of 60.9% during 2017-2026. The global cognitive robotic process automation market majorly focuses on the types that includes services and platforms. The cognitive robotic process automation services is expected to acquire the highest market value in 2017 and is forecast to grow at a CAGR of 57.0%. The reason for such strong market share is attributed to its high cost of the services as compared with the platforms. Moreover, the market of cognitive robotic process automation platform is estimated to grow with the highest CAGR of 69.6% during 2017-2026 due to advancements in the cognitive technologies.

The cognitive robotic process automation technology is estimated to be utilized across various industries including finance and banking, insurance, healthcare, telecom and IT services and others. In 2017, the highest share of the global cognitive robotic process automation market is estimated to be acquired by finance and banking followed by telecom and IT services, insurance, healthcare and others. Finance and banking industry is expected to acquire ~39.8% of the global cognitive robotic process automation market, in 2017. However, insurance industry is expected to grow with the highest CAGR of 64.0% during 2017-2026.

North America is expected to dominate the global cognitive robotic process automation market in 2017 and is forecast to grow at a CAGR of 59.3% during the forecast period 2017-2026. However, Asia-Pacific is expected to grow at the highest CAGR of 63.1% during 2017-2026. Arago, Automation Anywhere, Blue Prism, IPsoft, Kofax, Kryon systems, NICE Systems, Pegasystems Inc., Redwood Software, Thoughtonomy Ltd., UiPath, Verint systems Inc. and WorkFusion, among others are some of the major players of the global cognitive robotic process automation market.

The U.S. is the most prominent nation in North America for the growth of the global cognitive robotic process automation market. The increased demand for cognitive robotic process automation in the U.S. is due to growing finance and banking as well as telecom and IT services industries. Europe is another leading region for using cognitive robotic process automation. Some of the prominent countries in the European region include the U.K., Germany, France and Denmark, among others.  

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2017-2026. Some of the prominent nations in Asia-Pacific region includes Australia, Singapore, Japan and India, among others. The rising demand is caused by emerging economies across Asia-Pacific region. Furthermore, rest of the countries in Asia-Pacific region is expected to show the highest growth rate in the global cognitive robotic process automation market. The Asia-Pacific region could provide a lot more opportunities to the new entrants in the market. The rest of the world includes Middle-East, Africa and Latin America; the region is estimated to have a rapid growth rate for cognitive robotic process automation market during the forecast period 2017-2026.

We understand that your business need specific answers pertaining to the market. And , therefore, we do provide customised research tailored to your need.

With the purchase of this report, you are entitled to certain degree of free customisation within the scope of the study.

Do get in touch to help us understand how we can serve u better with a custom solution to your research needs. We assure quick turnaround for your pressing business requirements.

Contact Information


Name *
Email *
 
Company Name *
Designation
 
 
Contact No. *
Other Details
 
 

Write the characters in the image above
 
 
* Required Fields

OUR HAPPY CLIENTS


related reports

 

OUR CLIENTS

Get yourself updated on key emerging technology markets

Know about our market intelligence coverage in key sectors