Global Business Process Automation Market is valued at USD 7657.67 Million in 2020 and expected to reach USD 12429.50 Million by 2025 with the CAGR of 12.95% over the forecast period.
BPA is a concept which combines a technology and software that can be used to automate tasks that have traditionally been done manually. By this, companies can redeploy staff onto more engaging and involved tasks, leaving admin and mundane tasks to automated systems and technology. BPA, which is not to be confused with business process management a multi-layered discipline that focuses on much wider and broader operational processes and change management is about overhauling task workflows, making them more efficient, and ultimately reducing the human input as much as possible.
Major Players in the market involves Microsoft, Oracle, IBM, Laserfiche, NintexUKLtd, KissflowInc, OktaInc, Bpmonline, ZohoCorporationPvt, ProcessStreet, TIBCOSoftwareInc
OptimumHQ, ProcessBliss and Prophix.
Oct 2020- Robotics process automation is technology designed to automate business processes that are rules-based, structured and repetitive, therapy freeing up people to focus on more value-adding business activities. RPA is part of a wider shift towards automation and amidst technology in machine learning, big data, AI and robotics. This moves w greater automation will impact on every industry. In fact, analysis at Gartner has predicted that 85% of large organizations will have deployed some form of RPA by 2022.
Nov 2020, Microsoft-Paisabazaar.com, has developed ‘Paisabazaar Stack’ – a digital lending solution using Microsoft Azure technologies and Azure AI to optimize loan disbursals and credit card issuance. Built on the Azure platform, the Stack is integrated with Paisabazaar’s partner banks and NBFCs to enable consumers to access credit products through end-to-end presence-less and contactless processes. In addition to help consumers stay safe, the Stack is also enabling banks and non-banking financial corporations (NBFCs) to disburse unsecured loans in a presence-less, completely digital manner, within 3 to 5 hours as compared to 3 to 7 days earlier.
Sept 2020, Oracle announced the availability of Oracle Cloud Guard and Oracle Maximum Security Zones. With Oracle Maximum Security Zones, Oracle is the first public cloud provider to activate security policy enforcement of best practices automatically from day one so customers can prevent misconfiguration errors and deploy workloads securely. For day-to-day operations, Oracle Cloud Guard continuously monitors configurations and activities to identify threats and automatically acts to remediate them across all Oracle Cloud global regions.
Autostrade Tech, IBM and Fincantieri NexTech Deploy a New Artificial Intelligence and IoT-based System for Monitoring Autostrade per l'Italia Civil Infrastructure. Autostrade per l'Italia has invested 60 million euros into improving its systems for monitoring and securing its civil infrastructure. IBM will provide advanced AI for data processing and Fincantieri NexTech supplies technologies and solutions for high-availability monitoring. The solution combines drones, 3D modeling tools and cognitive data analysis to help make controls more efficient, transparent, and traceable. The system, managed by Autostrade Tech, is already integrated with the Italian Ministry of Infrastructures and Transportation's Public Civil Infrastructure Database.
By Types it has Programmable Logic Controller (PLC), Distributed Control System (DCS), SCADA, Human Machine Interface (HMI), and Safety Automation Advanced Process Control (APC). By Application it includes Oil & Gas, Chemical, Pharmaceuticals, Paper & Pulp, Water and Waste Water Treatment, Metals & Mining, Energy & Power, Food & Beverage and Others. Geographically it has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and LAMEA. North America is expected to lead the market in the upcoming years. This is attributed to increasing the automation and management solutions in the region. Besides of that U.S has increased their automation industry with various productions. Asia Pacific is a region which is expected to see growth at the fastest level in the global robotic process automation market in the period of forecast. This is due to the rising awareness with regard to automation in this region and has also expected to boost demand. Further, it has increased the demand for the solutions in sectors of BPO in India and China for contributing to the growth in the global robotic process automation market.
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