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robotic process automation rpa financial services market

Robotic Process Automation ( RPA ) in Financial Services Market Forecasts up to 2023

pages Pages: 90
tables Tables: 54
charts Charts: 47
country Regions/Countries: 5/16
compaines Companies: 16
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[90 Pages Report] This market research report identifies many companies to watch for which includes Blue Prism, Automation Anywhere, UiPath, Thoughtonomy, WorkFusion etc. in the RPA in Financial Services market. This report also provides a detailed analysis of the market by component (software and services), operation (rule-based and knowledge-based), business functions (Asset Management, Fund and Security Services, Retail and Lending Management, Trading and Financial Management, and Insurance), and region (North America, Europe, Asia Pacific, Middle East and Africa and Latin America).

Overview of the Robotic Process Automation in Financial Services Market

Infoholic’s market research report predicts that the RPA in Financial Services market revenue is estimated to be $319.6 million in 2018 and is expected to reach $955.2 million by 2023, growing at a CAGR of 24.5% during the forecast period 2018–2023.

According to the RPA in Financial Services market analysis, North America accounted for the largest share of the RPA in Financial Services market in 2018 owing to strong economic conditions in the region and presence of many headquarters of large banks in the US. The cloud deployment mode offers enterprises to opt for SaaS on a subscription basis as per usage rather than incurring costs on hardware and infrastructure. The Asia Pacific region holds a huge potential for the vendors and is expected to grow at the highest CAGR during the forecast period 2018–2023. The Asia Pacific region is expected to witness growth in RPA due to presence of few emerging countries and financial hubs in Hong Kong, Singapore, and India.

The countries covered are the US, Canada, Germany, the UK, France, Netherlands, Switzerland, China, India, Australia, Japan, Singapore, Israel, United Arab Emirates (UAE), Brazil, and Mexico.

RPA in Financial Services Market Competitive analysis and key vendors

The RPA software vendors are extending its partner ecosystem with capabilities in integration, consulting, reseller, and geographical reach to enhance the service offerings. The RPA market is at a nascent stage and is expected to grow with more understanding of the software features and cost-effectiveness of the software among industries enhancing the consulting market of RPA currently.

The report contains an in-depth analysis of vendor profiles, which include overviews and offerings, and competitive landscape. The confluence of technologies such as AI, cognitive, and NLP are leveraging the capabilities of the RPA software in managing more complex work without supervision.

Some of the RPA in Financial Services Market key vendors in the market are:

 


  • Blue Prism

  • Automation Anywhere

  • UiPath

  • Thoughtonomy

  • WorkFusion


  •  


Other companies profiled in the report are Redwood Software, Kofax, Kryon Systems, Softomotive, EdgeVerve Systems, Pegasystems, AutomationEdge, Jidoka, and Contextor

Segmentation of component

 

 


  • Software

  • Services


  •  


In 2018, the services contributed the largest share and is expected to have the highest share during the forecast period. The services include consulting, implementation, and training and education. The consulting segment is expected to grow at the highest CAGR during the forecast period. These services help organizations to adopt RPA.

Segmentation of operation

 

 


  • Rule-based

  • Knowledge-based


  •  


In 2018, the rule-based contributed the largest share and knowledge-based operation is expected to grow at a high CAGR during the forecast period. The rule-based operations are the primary and basic requirements of organizations which RPA significantly reduces repetitive tasks. The organizations are deploying RPA software to increase the bottom-line margin and reduce employing too many human resources business process and back-office activities.

Segmentation of business functions

 

 


  • Asset Management

  • Fund and Security Services

  • Retail and Lending Management

  • Trading and Financial Management

  • Insurance


  •  


In 2018, the retail and lending management contributed the largest share and is expected to continue the same trend during the forecast period and asset management is expected to grow at a high CAGR during the forecast period.

 

 

RPA in Financial Services Market Benefits


The study offers a comprehensive analysis of the “RPA in Financial Services” market bringing out the complete key insights of the industry, the report also aims to provide an opportunity for companies to understand the latest trends, current market scenarios, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

 

1    Industry Outlook 

1.1       Industry Overview

1.2       Industry Trends

1.3       PEST Analysis

2    Report Outline 

2.1       Report Scope

2.2       Report Summary

2.3       Research Methodology

2.4       Report Assumptions

3    Market Snapshot

3.1       Total Addressable Market

3.2       Segmented Addressable Market

3.3       Related Markets

4    Market Outlook 

4.1       Overview

4.2       Porter 5 (Five) Forces

5    Market Characteristics 

5.1       Evolution

5.2       Market Segmentation

5.3       Market Dynamics

5.3.1     Drivers

5.3.1.1   Faster business process execution

5.3.1.2   Automation of multiple process requiring less manual intervention

5.3.1.3   Reduce fraud activities

5.3.2     Restraints

5.3.2.1   Lack of awareness and reluctance of organizations to transform operations

5.3.2.2   Organizations are looking for solutions with proven use cases

5.3.3     Opportunities

5.3.3.1   Application of AI and machine learning in better identifying the potential of financial threats and risks  24

5.3.3.2   Growing GDPR concerns across regions to compel financial institutions to adopt regulatory software to ease out processes

5.3.4     DRO – Impact Analysis

6    Component: Market Size & Analysis 

6.1       Overview

6.2       Software

6.3       Services

6.3.1     Consulting

6.3.2     Implementation

6.3.3     Support and Maintenance

6.3.4     Training and Education

7    Operation: Market Size & Analysis 

7.1       Overview

7.2       Rule-based

7.3       Knowledge-based

8    Business Function: Market Size & Analysis 

8.1       Asset Management

8.2       Fund and Security Services

8.3       Retail and Lending Management

8.4       Trading and Financial Management

8.5       Insurance

9    Region: Market Size & Analysis 

9.1       Overview

9.1.1     Market Size and Analysis

9.2       North America

9.2.1     US

9.2.2     Canada

9.3       Europe

9.3.1     Germany

9.3.2     UK

9.3.3     France

9.3.4     Netherlands

9.3.5     Switzerland

9.3.6     Rest of Europe

9.4       Asia Pacific

9.4.1     China

9.4.2     India

9.4.3     Australia

9.4.4     Japan

9.4.5     Singapore

9.4.6     Rest of Asia Pacific

9.5       Middle East & Africa

9.5.1     Israel

9.5.2     United Arab Emirates (UAE)

9.5.3     REST of MEA

9.6       Latin America

9.6.1     Brazil

9.6.2     Mexico

9.6.3     Rest of Latin America

10   Companies to Watch for

10.1     Blue Prism

10.1.1   Overview

10.1.2   Offerings

10.2     Automation Anywhere

10.2.1   Overview

10.2.2   Offerings

10.3     UiPath

10.3.1   Overview

10.3.2   Offerings

10.4     Thoughtonomy

10.4.1   Overview

10.4.2   Offerings

10.5     NICE

10.5.1   Overview

10.5.2   Offerings

10.6     WorkFusion

10.6.1   Overview

10.6.2   Offerings

10.7     Redwood Software

10.7.1   Overview

10.7.2   Offerings

10.8     Kofax

10.8.1   Overview

10.8.2   Offerings

10.9     Kryon Systems

10.9.1   Overview

10.9.2   Offerings

10.10   Softomotive

10.10.1  Overview

10.10.2  Offerings

10.11   EdgeVerve Systems

10.11.1  Overview

10.11.2  Offerings

10.12   Pegasystems

10.12.1  Overview

10.12.2  Offerings

10.13   AutomationEdge

10.13.1  Overview

10.13.2  Offerings

10.14   Jidoka

10.14.1  Overview

10.14.2  Offerings

10.15   Contextor

10.15.1  Overview

10.15.2  Offerings

10.16  Another Monday

10.16.1  Overview

10.16.2  Offerings

11   Competitive Landscape 

11.1     Competitive Comparison Analysis

Annexure

Abbreviations

Research Framework

Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting
Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources

Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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Robotic Process Automation ( RPA ) in Financial Services Market Forecasts up to 2023
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