South and Central America Robotic Process Automation Market Forecast to 2028 - COVID-19 Impact and Analysis by Component (Solutions and Services) and Industry Vertical (BFSI, Retail, Telecommunication, Healthcare, Transportation & Logistics, and Others)
The South and Central America robotic process automation market size is expected to grow from US$ 115.3 million in 2021 to US$ 1,145.2 million by 2028; it is estimated to grow at a CAGR of 38.8% during 2021–2028.
Robotic process automation (RPA) distinguishes itself from traditional IT automation as it can capture and interpret the actions of specific processes in existing software applications. Also, it can manipulate data, trigger responses, initiate new actions, and communicate with other systems autonomously. Large and small companies can gain benefit from RPA by expediting back office and middle office tasks in a wide range of industries, such as insurance, finance, procurement, supply chain management (SCM), accounting, customer relationship management (CRM), and human resource management (HRM).
Impact of COVID-19 Pandemic on South and Central America Robotic Process Automation Market
Before COVID-19 pandemic, the demand for robotic process automation (RPA) was rising, owing to the growth of the e-commerce sector in SAM countries. With 649 million people living in SAM and mobile subscribers making up 68% of the population, there is significant potential for growth across the region. Along with these digitally-connected consumers and SAM is one of the fastest-growing e-commerce markets in the world, comes significant potential in the region. For instance, in 2019, over 150 million South Americans had bought goods and services online, while retail sales alone had surpassed approximately US$ 84.7 billion by 2019, according to the article published by Crunchbase Inc. in December 2019. Thus, the need for RPA in the e-commerce sector had supported the South and Central America robotic process automation market growth in 2019.
South and Central America Robotic Process Automation Market Insights
Increasing BPO and Shared Services Fuels Growth of South and Central America Robotic Process Automation Market
Robotics and automation are disruptively transforming the way businesses function. Presently, more than half of BPO (business process outsourcing) service providers across the world are engaged in mere replication of client processes at reduced costs. Also, the rapidly advancing technological environment imposes constant pressure on BPOs, as their conventional methods become obsolete over the years. RPA innovations and increasing BPO and shared services aim to minimize human involvement. They would retool their business models to reflect higher service levels, such as cost reduction and enhanced cycle speed. This refurbished business model of BPOs will have to incorporate RPA products, further boosting the South and Central America robotic process automation market growth.
Component-Based South and Central America Robotic Process Automation Market Insights
South and Central America Robotic Process Automation Market analysis by component, the South and Central America robotic process automation market is bifurcated into solution and services. The market for the services segment is further bifurcated into professional services and managed services. The service segment accounted for a larger South and Central America robotic process automation market share in 2020 owing to the rising demand for accomplishing the repetitive high-volume tasks by outsourcing RPA and deploying software through the cloud for automation. The intense competition among enterprises has compelled the service providers to enhance their advisory, training, and consulting services. The continued improvement in automation services to achieve increased scalability and reduced cost has boosted the demand for RPA as a service.
Industry Vertical-Based South and Central America Robotic Process Automation Market Insights
The South and Central America robotic process automation market analysis by industry vertical, is segmented into BFSI, retail, telecommunication, healthcare, transportation & logistics, and others. All these industries are growing at a considerable growth rate. The telecommunication segment accounted for the largest South and Central America robotic process automation market share in 2020 due to the rising adoption of RPA in the telecommunication industry to reduce operational costs and improve overall customer satisfaction.
Strategic Insights
The players operating in the South and Central America robotic process automation market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:
- In January 2022, QBE, the global insurer, adopted Pega's RPA solution to improve and enhance its efficiency in clients experience and the department of credit control. The solution helped QBE to save around 50,000 hours of its employees, enabling them to focus on productive solutions rather than spending time on doing administrative work.
- In September 2021, Atos and IBM Corporation announced plans to expand their global relationship to help banks and insurance companies address their increased security and regulatory compliance demands when moving their workloads and applications to the cloud. Along with this, Atos also offers automation services including robotic process automation, AI-driven intelligent workflows, and business processes reengineering, accelerated by IBM Cloud Pak for data and IBM Cloud Pak for integration.
- Company Profiles
- Growtec
- Atos SE
- NICE Ltd.
- AUTOMATIONEDGE
- Pegasystems Inc.
- SAP SE
- Blue Prism Group
- HelpSystems
- UiPath
- IBM Corporation
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Macro-Economic Factor Analysis:
3.2.4 Data Triangulation:
3.2.5 Country-level data:
4. South and Central America Robotic Process Automation Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South and Central America Robotic Process Automation Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing BPO & Shared Services
5.1.2 Cost Benefits of RPAs
5.2 Market Restraints
5.2.1 Frequent Alterations in Business Rules
5.3 Market Opportunities
5.3.1 Cognitive RPA to Generate Growth Opportunities
5.4 Future Trends
5.4.1 Advanced Analytics and Data Mining Capabilities
5.5 Impact Analysis of Drivers and Restraints
6. South and Central America Robotic Process Automation Market Overview
6.1 Market Overview
6.2 South and Central America Robotic Process Automation Market Forecast and Analysis
6.3 Market Positioning – Global Key Players
7. South and Central America Robotic Process Automation Market Analysis – By Component
7.1 Overview
7.2 South and Central America Robotic Process Automation Market Breakdown, By Component, 2020 and 2028
7.3 Solution
7.3.1 Overview
7.3.2 Solution: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.1 Professional Services
7.4.2.1.1 Overview
7.4.2.1.2 Professional Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 Managed Services
7.4.2.2.1 Overview
7.4.2.2.2 Managed Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8. South and Central America Robotic Process Automation Market Analysis – By Industry Vertical
8.1 Overview
8.2 South and Central America Robotic Process Automation Market Breakdown, By Industry Vertical, 2020 and 2028
8.3 BFSI
8.3.1 Overview
8.3.2 BFSI: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8.4 Retail
8.4.1 Overview
8.4.2 Retail: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8.5 Telecommunication
8.5.1 Overview
8.5.2 Telecommunication: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8.6 Healthcare
8.6.1 Overview
8.6.2 Healthcare: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8.7 Transportation & Logistics
8.7.1 Overview
8.7.2 Transportation & Logistics: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
9. South and Central America Robotic Process Automation Market – Country Analysis
9.1 South and Central America Robotic Process Automation Market Breakdown, By Country
9.1.1.1 Brazil Robotic Process Automation Market, Revenue and Forecast to 2028
9.1.1.1.1 Brazil Robotic Process Automation Market Breakdown, By Component
9.1.1.1.1.1 Brazil Robotic Process Automation Market Breakdown, By Services
9.1.1.1.2 Brazil Robotic Process Automation Market Breakdown, By Industry Vertical
9.1.1.2 Argentina Robotic Process Automation Market, Revenue and Forecast to 2028
9.1.1.2.1 Argentina Robotic Process Automation Market Breakdown, By Component
9.1.1.2.1.1 Argentina Robotic Process Automation Market Breakdown, By Services
9.1.1.2.2 Argentina Robotic Process Automation Market Breakdown, By Industry Vertical
9.1.1.3 Rest of SAM Robotic Process Automation Market, Revenue and Forecast to 2028
9.1.1.3.1 Rest of SAM Robotic Process Automation Market Breakdown, By Component
9.1.1.3.1.1 Rest of SAM Robotic Process Automation Market Breakdown, By Services
9.1.1.3.2 Rest of SAM Robotic Process Automation Market Breakdown, By Industry Vertical
10. Impact of COVID-19 Pandemic on Robotic Process Automation Market
10.1 South and Central America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Growtec
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Atos SE
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 NICE Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 AUTOMATIONEDGE
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Pegasystems Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SAP SE
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Blue Prism Group
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 HelpSystems
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 UiPath
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 IBM Corporation
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. South and Central America Robotic Process Automation Market Revenue and Forecasts to 2028 (US$ Mn)
Table 2. Brazil Robotic Process Automation Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 3. Brazil Robotic Process Automation Market, Revenue and Forecast to 2028 – By Services (US$ million)
Table 4. Brazil Robotic Process Automation Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 5. Argentina Robotic Process Automation Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 6. Argentina Robotic Process Automation Market, Revenue and Forecast to 2028 – By Services (US$ million)
Table 7. Argentina Robotic Process Automation Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 8. Rest of SAM Robotic Process Automation Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 9. Rest of SAM Robotic Process Automation Market, Revenue and Forecast to 2028 – By Services (US$ million)
Table 10. Rest of SAM Robotic Process Automation Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 11. Glossary of Term: Robotic Process Automation Market
LIST OF FIGURES
Figure 1. Robotic Process Automation Market Segmentation
Figure 2. South and Central America Robotic Process Automation Market Overview
Figure 3. South and Central America Robotic Process Automation Market, by Component
Figure 4. South and Central America Robotic Process Automation Market, by Services
Figure 6. South and Central America Robotic Process Automation Market, by Industry Vertical
Figure 7. South and Central America Robotic Process Automation Market, by Country
Figure 8. South and Central America: PEST Analysis
Figure 9. Robotic Process Automation Market Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. South and Central America Robotic Process Automation Market: Impact Analysis of Drivers and Restraints
Figure 12. South and Central America Robotic Process Automation Market Forecast and Analysis, (US$ Mn)
Figure 13. South and Central America Robotic Process Automation Market Revenue Share, By Component (2020 and 2028)
Figure 14. Solution: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Professional Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Managed Services: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. South and Central America Robotic Process Automation Market Revenue Share, By Industry Vertical (2020 and 2028)
Figure 19. BFSI: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Retail: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Telecommunication: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Healthcare: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Transportation & Logistics: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: South and Central America Robotic Process Automation Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. South and Central America Robotic Process Automation Market Breakdown, By Country, 2020 & 2028(%)
Figure 26. Brazil Robotic Process Automation Market, Revenue and Forecast to 2028 (US$ million)
Figure 27. Argentina Robotic Process Automation Market, Revenue and Forecast to 2028 (US$ million)
Figure 28. Rest of SAM Robotic Process Automation Market, Revenue and Forecast to 2028 (US$ million)
Figure 29. Impact of COVID-19 Pandemic in South and Central America Country Markets
- Growtec
- Atos SE
- NICE Ltd.
- AUTOMATIONEDGE
- Pegasystems Inc.
- SAP SE
- Blue Prism Group
- HelpSystems
- UiPath
- IBM Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South and Central America robotic process automation market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the South and Central America robotic process automation market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South and Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution