Western Europe Robotic Process Automation Market Size Analysis
The Western Europe Robotic Process Automation Market Size is estimated to be register impressive double digit CAGR of over 25% between 2018 and 2028. The region stands next to North America in terms of overall robotic process automation (RPA) adoption and sales rate.
There has been large number of strategic mergers and acquisitions took place in RPA in last few years. Most of them belongs to Western Europe based companies. For instance, in 2017, Accenture PLC acquired Genfour Limited to expand its capabilities in RPA and AI solutions.
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RPA is transforming the business process in Western Europe and has led to higher agility with better profit margins in last few years. Its adoption rate will further increase citing the overall profitability margins. Currently, it is widely used in business process management and business process outsourcing. Smarter processing the crux of RPA tools.
Other benefits that driving the Western 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.
Insight#1: Government and Banking sector to Witness Highest Adoption of RPA in Western 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.
Insight#2: Large Scale Enterprises to Dominate the Western Europe Robotic Process Automation Market Share
Large enterprises 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.
Insight#3: 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.
Western Europe Robotic Process Automation Market Size and Forecast: Competition Landscape
The industry is highly consolidated with leading players accounting for majority of the global share. Some of the key RPA vendors in Western Europe are Jacada Inc., Be Informed B.V., UiPath, Blue Prism Group Plc, Automation Anywhere Inc., and OpenSpan.