Blue prism technology services market is expected to grow at a CAGR of 22% during the forecast period of 2023 to 2030. With integration and development of technologies such as artificial intelligence (AI) and cognitive technologies, the demand for blue prism technologies is accelerating significantly due to the value offering. This is attracting large customer base in conjunction with ongoing integrations of into the blue prism service.
Runtime environments for many small to large-scale businesses need a specific management tool to optimise their labour and increase their profit margin. In order to eliminate human intervention and provide features like data security, data analytics, data abstraction, and data management in a new way, RPA technologies and providers offer a pool of programmed libraries. Contrary to what its name might imply, robotic process automation involves actual robots carrying out automated activities. Instead, they operate a series of software-encoded programmes.
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According to technology implementation of blue prism, BFSI (Banking & Financial Services Intelligence) is expected to secure the maximum market share of 25% during the forecast period 2023 to 2030among the end user industries for blue prism technology services (IT & Telecom, Healthcare & Life Sciences, BFSI, Travel, Transportation and Logistics, Utility & Energy). During the assessment period of 2023–2030, it is expected that the need for blue prism to combat financial crime in financial service firms that integrate "Know Your Customer" (KYC) would increase by 4 times. The demand for blue prism components is also driven by the accelerated rate of digital transformation for assuring financial stability in several businesses operating globally.
The key end-user industries for Blue Prism technology services, including IT & Telecom, healthcare and life science, BFSI, travel, transportation, and logistics, and utilities and energy.The Blue Prism technology services market is segmented as SMEs and large companies based on the size of the enterprise.Given that small and medium-sized businesses are constantly at risk of dealing with commercial frauds, By the fourth quarter of 2030, demand for such sophisticated automated technology, which includes features like "fraud detection" and "AML," is anticipated to surpass a valuation of over $ 5 Billion.
The most promising area for the global market for blue prism technology services is anticipated to be North America. This is due to the fact that most factories in the U.S. and Canada utilise robots and are eager to automate their equipment. The North American market for blue prism technology services is anticipated to develop to be the most lucrative during the forecast period.
The Blue Prism organisation is struggling to expand its business as a result of the global technological advancements in the field of robots. The business is using tactics like acquisitions and collaborations to get over this obstacle. These tactics enable the business to expand its operations across the globe, creating a solid foundation for future business expansion. The company's blue prism technology services for robots and automations are also contributing significantly to its significant growth.
North America generates over 40% of the global revenues due to its existing infrastructure that makes implementation of robotic technology easy and effective. Given that small and medium-sized businesses are constantly at risk of dealing with commercial frauds, By the fourth quarter of 2030, demand for such sophisticated automated technology, which includes features like "fraud detection" and "AML," is anticipated to surpass a valuation of over $ 5 Billion. SMBs (small and midsize businesses), operating in developing countries of Europe and Asia are expected to generate significant revenue share by the end of 2023 from the implementation of this technology. The availability of features such as advanced cybersecurity, quicker cash cycles, compliance monitoring systems, and due diligence testing is the need of the hour for SMEs and MSMEs.
Market participants in the blue prism technology services industry have primarily adopted growth-oriented strategies that include a high rate of automation technology deployment. Additionally, partnerships, mergers, online marketing, and ongoing technological improvements rank at the top of their focus area. By offering extremely cutting-edge and secure technology, these tactics assist the global players in growing their regional presence and capturing the largest share of the market. Key market players in this market segment include Blue Prism Group Plc., Accenture Plc, Deloitte Touche Tohmatsu Limited, Ernst & Young LLP, Avanade Inc., Agilify Automation, Virtual Operations Ltd., Neoops Inc., Dirwa, Quanton Limited and others.
Key Market Trends
Market Segmentation
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2020-2030 |
| Base Year | 2021 |
| Forecast Period | 2023-2030 |
| Historical Year | 2020 |
| Unit | USD Million |
| Segmentation |
By Services (2020-2030; US$ Mn) |
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By Enterprise Size (2020-2030; US$ Mn) |
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By Industry (2020-2030; US$ Mn) |
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Region Segment (2020–2030; US$ Mn) |
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Global Impact of Covid-19 Segment (2020-2021; US$ Mn ) |
*Complete segmentation list is on the report page
