US: Fact.MR’s recently published a market study that sheds light on key aspects that have significant influence on growth of the Blue Prism Technology Services Market during 2018-2028. The study finds that the ubiquity of robot process automation (RPA) tools across most industrial sectors is giving an impetus to the development of Blue Prism technology services.
According to the study, volume sales of the Blue Prism technology services is envisaged to increase by 35.6% in 2018 over 2017. The study remains bullish on remarkable growth prospects of the Blue Prism technology services market through 2028, as diverse end-user industries are willing to make long-term investments in Blue Prism technology services to expand their productivity.
As a majority of mainstream enterprises are concentrating their efforts on acquiring and expanding their RPA initiatives, the Blue Prism technology services market is drawing attention of various industrial sectors.
Vendors in the market are introducing advanced Blue Prism technology services that enable end-users to incorporate innovations in intelligent automation. Along with advanced features, offering greater flexibility, scalability, security, and control to their Blue Prism technology services remains a major focus for the market players.
Rising Popularity of RPA Tools across Diverse Industrial Sectors Complements Market Growth
The enterprise-wide digital transformation is boosting adoption of automation tools, such as Blue Prism technology services, across multiple industrial sectors. Growing needs for RPA tools to improve business efficiency and productivity of white-collar processes attracting a wide range of industries, such as transportation & logistics, IT & telecom, and Banking, Financial Services & Insurance (BSFI), to invest in Blue Prism technology services market.
“RPA tools or software are robots integrated with a variety of Blue Prism technology services and are used to replace human workforce with digital workforce in various industries. Depending on the specific end-user requirements, vendors are modifying features of RPA tool using specific Blue Prism technology services to expand their reach across industrial sectors. The market players are expanding their partner ecosystem to leverage the dramatic rise in adoption of RPA tools and gain momentum in the market,” says a senior analyst at Fact.MR.
Adoption of Blue Prism Technology Services in SMEs Grows at a Rapid Pace
As the negative impacts of the great recessions are ebbing away, the number of small and medium-sized enterprises (SMEs) across the world is increasing at a positive rate. A majority of SMEs are inclined towards investing heavily in innovation and intelligent automation, and thereby, the mounting number of SMEs is likely to accelerate the expansion of the Blue Prism technology services market.
The study finds that adoption of Blue Prism technology services among SMEs is escalating at a relatively higher rate than in large enterprises. As SMEs are investing heavily in automation services, to boost their productivity and inclusive growth, SMEs are outperforming large enterprises in terms of value added, which is redefining marketing strategies of Blue Prism technology services providers.
According to the U.S. Small Business Administration (SBA), the number of small businesses in the U.S. exceeded 30 million in 2015 with over 47.5% employment share in the country. According to a report published by the European Commission, the number of SMEs in the UK increased from 1.87 million to 1.97 million during 2015-2016. Stakeholders in the Blue Prism technology services market eye proliferation of SMEs as a lucrative growth opportunity to boost adoption of the services.
This study offers forecast on the Blue Prism technology services market for the period, 2018 to 2028. A 28.8X revenue growth has been estimated for the Blue Prism technology services market through 2028.