RPA Expected to Boost Customer Service Levels in the Next 6 Years in India
The RPA market in India will cross the $100 million revenue mark by 2025 indicating a CAGR of ~20%
Bangalore, India, July 31, 2019: With its recently published study “RPA Market in India – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the Robotic Process Automation (RPA) market in India will continue to depict growth, owing to the need for reducing cost and increasing efficiency for enterprise operations. RPA helps enterprises across industry verticals to cut down on its workforce, who were mainly involved in managing tedious manual tasks.
Enormous data is being generated every day in enterprise systems owing to its heavy customer base. In this environment of data clutter, RPA helps in automation of various day-to-day operational activities. Currently, OCR and process mining operations, which run by basic rule-based programming, are done by RPA bots. However, this trend is gradually moving towards cognitive RPA with machine learning capabilities for operational decision making.
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Indian enterprises have started adopting RPA on a large scale. Few of the larger banks are at the forefront in implementing software bots for their back-end operations. Vendors, including Automation Anywhere and UiPath, are focusing on the Indian market to implement RPA software in India. This trend is expected to continue during the forecast period 2019–2025, fueling the Indian RPA market growth at a CAGR of above 20% to surpass $100 million by 2025.
Application of claims management and customer service are further driving the growth of the RPA market in India, especially in BFSI and healthcare sectors. With RPA technology disrupting the BPM sector, enterprises are required to restructure their business model while implementing RPA bots. India is considered as the next best destination for RPA vendors, following North America and Europe.
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One of the major challenges in the market is that C-level executives are evaluating the value proposition of implementing RPA to reduce the workforce for business process activities. Globally, enterprises are facing competition in the market, and automation of back-end operations can save millions of dollars for organizations. The adoption of RPA will impact the outsourcing businesses; however, BPO vendors can themselves adopt RPA tools to assist in large-scale customer support. All the RPA vendors are focusing on expanding their direct presence or grow their partner ecosystem in India for expanding their territory in India.
“The adoption of RPA in India is in the early stages, and with the presence of numerous large enterprises in India, MNCs are expected to implement RPA to increase their profit margins focusing on bottom-line growth. Telecom and healthcare will follow the financial services sector in terms of RPA adoption.” pointed out Swarup Bhowal, Research Analyst, Infoholic Research.
Key Segments of the Report Include:
- Support & Maintenance
- Training & Consulting
- Organization Size
- Large Enterprises
- Customer Service
- Finance & Accounting
- Human Resource
- Logistics & Supply Chain
- Telecom & Media
- Healthcare & Life Sciences
- Retail & Consumer Goods
- Transportation & Logistics
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Kathakali Basu
Infoholic Research LLP