Europe Robotic Process Automation Market to Register 25% CAGR
Posted by Alex Werner on May 12th, 2018
Europe Robotic Process Automation Market Size Analysis
The Europe Robotic Process Automation Market Revenue will register impressive CAGR of over 25% to create revenue opportunity for key vendors. The region is next to U.S. in terms of revenue opportunity for companies with highest adoption registered in EU 5 countries.
Automation is a new wave to overall business infrastructure in Europe and is expected to help region come out of staggering growth. Post 1990, while the industrial growth has either declined or became stagnant, operational cost continued to rise leading to lower profitability margins. As such, automation including robotic process automation is certainly a key benchmark in overall growth opportunity in the region.
Various mergers and acquisitions took place in last few years in robotic process automation market in Europe. For instance, in 2017, Accenture PLC entered in partnership with Genfour Ltd to expand its business operations in Europe and North America. Similar such initiatives has been seen in the region.
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RPA is transforming the business process in Europe and has led to higher agility with better profit margins in last few years. The adoption rate will increasing with demand for automation in work environment. As of now, it is widely used in business process management and business process outsourcing. Smarter processing the crux of RPA tools.
Other benefits that driving the Europe robotic process automation market size are improved accuracy, lower IT related risk issues, multitasking and ability to customize as per the demand of the business. As such, various companies across different business verticals are actively leveraging the tools to automate the work. In 2017, BFSI and IT services accounted for over 51% of RPA installations in Western Europe.
Industry Trend 1: Banking, Finance, and Government sector will witness Highest Robotic Process Automation in Europe
Government and banking sectors to account for majority of the Western Europe RPA market size and will continue to grow at a lucrative rate. Various key developments took place in last few years, depicting strong RPA foundation in the region. Recently, in November 2017, Capgemini announced two year agreement with the UK Cabinet Office to develop RPA center of excellence. This will help in accelerating the installation of RPA across various government bodies in the country.
Trend 3: Multinational Companies to Dominate the Robotic Process Automation Market in Europe
Multinational companies will have relatively higher adoption rate as compared to midsize and small scale companies. RPA vendors directly collaborate with multinational companies to offer software solutions and services over a longer period of time.
Trend 3: UK and Germany to Dominate the Western Europe Robotic Process Automation Market Value
Germany will continue to dominate the regional share throughout the forecast period. In 2017, it accounted for over 28% of total share, followed closely by UK and France. Presence of large number of financial institutions along with government push towards automation to scale up the GDP are key driving factors for robotic process automation in Germany, UK and France.
Leading companies such as UiPath and Blue Prism are strengthening their market position in France and Germany. These two regions have large number of multinationals company. Well planned strategy will help companies to tap major base clients in these two regions.
Europe Robotic Process Automation Market Share is Highly Consolidated with Leading Players Accounting for Majority of the Regional Value
Bekryl Market Research Report on Europe Robotic Process Automation Market covers key vendors including Jacada Inc., Be Informed B.V., UiPath, Blue Prism Group Plc, Automation Anywhere Inc., and OpenSpan.
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About the AuthorAlex Werner
Joined: December 7th, 2017
Articles Posted: 25
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