Global Robotic Process Automation Market Value to Surpass USD 11 Billion by 2028
Global Robotic Process Automation Market is set to create 13X higher revenue opportunities for vendors in another 10 years. The rising popularity is attributed to the fact that RPA lowers the operational costs by 70% and enhances ROI on longer term. While the opportunities are fairly high, companies need to understand the actual market potential and key industry dynamics in order to ensure long term profitability. Bekryl has analyzed the total market potential and competitive analysis across 27+ major countries to help companies understand the actual industry trends. To procure full report, visit: https://bekryl.com/industry-trends/robotic-process-automation-market-size-analysis
Global Robotic Process Automation (RPA) market is expected to surpass USD 11 billion by 2028– with a forecast growth of 30% between 2018 and 2028.
In the last two years, there has been impressive surge in RPA deployment across worldwide. The trend is quite strong in Europe and North America. Increasing digitization and higher integration of internet of things (IoT) has created favorable ecosystem for industry vendors. The tool not only helps in lowering the operational cost but also enhances return on investment (ROI) through automation. As per the estimates, companies are able to save over 70% operational cost through RPA. Much of the usage of RPA is expected to be seen in business process management and will account for 35% of total share by 2025.
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Few key trends from Robotic Process Automation Market Report:
Trend#1: North America to Dominate the Global Robotic Process Automation Market Share
North America will account for over 58% of global sales in 2018. Higher spending on R&D along with high level of automation has created favorable business environment in the region. It is expected to continue its dominance before losing market share to developing regions by the end of forecast period. While the industry is set to register impressive growth, resistance from internal IT companies along with unclear model on Total Cost of Ownership (TCO) are key challenges faced in the region.
Western Europe will be another key destination for vendors. The Region is characterized by the presence of well established companies. Jacada Inc., Be Informed B.V., UiPath, Blue Prism Group Plc, Automation Anywhere Inc., and OpenSpan are key players with Automation Anywhere being the market leader. Germany accounted for 28% of regional share and will witness 2X increase in revenue by 2023. Over 85% of companies are expected to use RPA for operational efficiency in Germany by 2023.
Trend#2: Multinational Companies (Revenue >US$ 350 Million) to Dominate the Global Robotic Process Automation Market
Much of the robotic process automation will take place in large scale enterprises. High capital influx along with in-built IT infrastructure are key factors driving the installations of such software in organization. These leading organizations spends nearly 250X higher amount on automation than that by mid-scale companies.
Trend#3: BSFI and IT to collectively account for 52% of Global Installation in 2018
High security features, lower turnaround time along with faster technology adoption has led to wide scale RPA demand from BFSI and IT sector. RPA eases the IT infrastructure setup in BFSI sector and prevents fraudulent activities – thereby ensuring high level of security, better customer engagement and good profit margins. The system bridges the gap between BPM and ERM systems. Each year, the banking sector spends nearly 18% on IT infrastructure and security maintenance. Installation of RPA will help minimize such spending to large extent.
To know more about Global Robotic Process Automation market trends and data, visit: https://bekryl.com/industry-trends/robotic-process-automation-market-size-analysis
Be Informed B.V., Blue Prism xGroup Plc, Automation Anywhere Inc., Jacada Inc., and OpenSpan are key vendors covered the robotic process automation market report.
Research Scope and Brief Research Methodology:
Robotic Process Automation Market, By Application:
- IT services
Robotic Process Automation Market, By Organization Size:
- Large Scale Enterprises
- Mid-Scale Enterprises
- Small Scale Enterprises
Robotic Process Automation Market, By Automation:
- Assisted Automation
- Unassisted Automation
- Server (VMs)
Robotic Process Automation Market, By Tools
- Model Based
- Process Based
Robotic Process Automation Market, By Service
- Training and Consulting
Global Flexible Display Market to Register 69% Growth in 2019
Global Flexible display market is set to register impressive growth in next ten years fueled by various technological factors. Demand is escalating from various smartphones and consumer electronics manufacturers. By 2028, a major portion will be captured by flexible display. While there is huge opportunities, companies need to adopt calculated growth strategies to ensure long term profitability and business sustainability. Bekryl has launched 270+ page exhaustive research report that gives clear picture on how industry is going to be shaped in another ten years – highlighting the key market opportunities for new entrants as well as industry leaders. To know more about industry trends/ download research sample, visit: https://bekryl.com/industry-trends/flexible-display-market-size-analysis
Global Flexible Display Market Value is expected to surpass USD 3.2 billion in 2018 and will register a CAGR of 63% between 2017 and 2028. Over 125 million units of flexible display were shipped in 2017. The number is expected to more than double by 2020. This is a white space opportunity for engaged players and will help in generating high ROI during the forecast period.
The industry is highly consolidated with engaged companies primarily focusing on product development to differentiate their market positioning. Nearly 700 patents were filed between 2015 and 2017 with Samsung and LG accounting for highest number of patents. Global flexible display market will become hypercompetitive with advancement in technology and emergence of new entrants in the market.
Bekryl’s market research report, Global Flexible Display Market Size Analysis and Industry Opportunity, finds North America to account for 43% of global share in 2018. The region has been at the forefront of adopting newer technology. While North America accounted for majority of the share, Asia Pacific will takeover the North America in terms of net revenue by 2020. This is primarily attributed to China’s strong macroeconomic outlook. Also, South East Asian Countries are registering impressive growth in industrial production. Collectively, the region represents 2.3 billion smartphone users with high sales of electronic products.
Some key trends from the Global Flexible Display Market:
Trend#1: Increased Consolidation in Flexible Display Market
According to Bekryl Market Analysts, the industry is highly consolidated with leading 5 players accounting for 88% of global share. Samsung and LG flexible display accounts for the highest share.
Trend#2: Plant Capacity Expansion
Global Flexible Display Market has grown manifolds since 2012. Companies are investing heavily on increasing their production capacity to meet the global demand. While Korea enjoys being the market leader in term of production capacity, China is increasingly investing in the technology to create favorable ecosystem for engaged companies.
In 2017, China based firm –BOE – announced the mass production of flexible displays in China. Similar such development was seen with Samsung announced to build world’s highest flexible display OLED plant capacity.
Trend#3: OLED to dominate the Flexible Display Industry by Technology
OLED to account for 77% of global share in 2018. OLED are self-emitting color gamut without staked structure. Much of the traction will be from smartphones and TV display demand.
Some key global Flexible Display market players are Samsung Electronics Co., Ltd, LG Display Co., Ltd, Innolux Corporation, AU Optronics Corp., Japan Display Inc., Hannstar Display Corporation, Koninklijke Philips N.V., Chunghwa Picture Tubes Ltd, Osram Licht AG, BOE Technology Group Co., Ltd, Panasonic Corporation, Sharp Corporation, Acuity Brands Lighting, Inc., Pioneer Corporation, Ritek Corporation.