South and Central America Robotic Process Automation Market Forecast to 2028

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)

Report Code : TIPRE00028385 | Region : LAMEA | Industry : Technology, Media and Telecommunications | Published Date : 31/Mar/2022

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) provides its users with an ability to in-source and off-shore RPA managed services, which further enables them to regain governance over process without any surplus cost. The cost incurred might even be lesser than off-shore process without RPA. Furthermore, the buyers are attracted toward the robust return on investments offered through RPA deployments.

The evolution of cognitive RPA would expand the market scope and raise the demand for expertise, as such expertise is rare in organizations. This would pave opportunities for RPA service providers, particularly for consulting and training services. Various industries, such as financial services and oil & gas, are expected to be benefitted most from the cognitive RPA.

The demand for enhanced and innovative cognitive RPA is expected to increase in the next 3–5 years. Companies operating in the RPA ecosystem are expected to illustrate their expertise to attain RPA demands at multiple levels.

BPO service providers, who have already implemented RPA solutions, have significantly improved their productivity levels and experienced noteworthy financial gains in the past few years. This has further encouraged several other BPO service providers to implement RPA at an early stage to identify future growth opportunities, reduce debts, and evade unwanted costs.

RPA innovations and increasing BPO and shared services are targeted 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.

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. South and Central America robotic process automation market analysis by industry vertical, is segmented into BFSI, retail, telecommunication, healthcare, transportation & logistics, and others.

In the pre-COVID-19 pandemic situation, 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.

In 2020, the COVID-19 pandemic had positively impacted the robotic process automation market in SAM due to the increase in spending in the healthcare sector. As per observation, in October 2020, the Brazilian government spent over 120 billion Brazilian reals (US$ 21.31 billion) on health, out of which more than 37% was aimed at the hospital and outpatient care. Thus, the healthcare industry was positively impacted during 2020. Therefore, the overall COVID-19 impact on the South and Central America robotic process automation market share was positive in 2020.

Further, in 2021 and 2022, with the positive growth of defence, financial institutions, and telecommunication sectors had positively impacted the South America robotic process automation market growth. South America’s fintech sector is booming. For instance, a total of US$ 2 billion had been invested in financial services, according to Crunchbase Inc. in June 2021. Therefore, the South and Central America robotic process automation market share will grow during the forecast period due to the growth in the fintech sector.

The overall South and Central America robotic process automation market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the South and Central America robotic process automation market. The process also serves the purpose of obtaining an overview and forecast for the South and Central America robotic process automation market with respect to all the segments. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South and Central America robotic process automation market. A few major players operating in the market are Growtec, Atos SE, NICE Ltd., AUTOMATIONEDGE, Pegasystems Inc., SAP SE, Blue Prism Group, HelpSystems, UiPath, and IBM Corporation.

Increasing BPO and Shared Services Fuels South and Central America Robotic Process Automation Market Growth

According to the latest market study on “South and Central America Robotic Process Automation Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component and Industry Vertical,” the market is projected to reach US$ 1,145.2 million by 2028 from US$ 115.3 million in 2021; it is expected to grow at a CAGR of 38.8% from 2021 to 2028.

Robotics and automation are disruptively transforming the way businesses function. Presently, more than half of BPO (business process outsourcing) service providers across the globe are engaged in mere replication of client processes at reduced costs. However, the rapidly advancing technological environment imposes constant pressure on BPOs, as their conventional methods become obsolete over the years. In addition, end clients prefer automated processes while selecting a BPO service provider. Owing to these factors, BPO service providers are investing in robotic automation of various repetitive processes.

BPO service providers, who have already implemented robotic process automation (RPA) solutions, have significantly improved their productivity levels and experienced noteworthy financial gains in the past few years. Further, 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, which is expected to drive the South and Central America robotic process automation market during the forecast period.

Based on component, the South and Central America robotic process automation market is bifurcated into solution and services. In 2021, the services segment held the largest South and Central America robotic process automation market share. By industry vertical, the South and Central America robotic process automation market is segmented into BFSI, retail, telecommunication, healthcare, transportation and logistics, and others. In 2021, the telecommunication segment held the largest South and Central America robotic process automation market share.

Impact of COVID-19 Pandemic on South and Central America Robotic Process Automation Market

As per the pre-COVID-19 pandemic situation on South and Central America robotic process automation market analysis, 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 a significant potential for the growth for RPA across the region. Along with the rising digitally-connected consumers and fastest-growing e-commerce markets in SAM offers significant potential for RPA in the region. For instance, in 2019, over 150 million South and Central Americans bought goods and services online, while retail sales alone had surpassed ~ US$ 84.7 billion by 2019, according to the article published by Crunchbase Inc. in December 2019. Thus, the surging need for RPA in the e-commerce sector drives the growth of the market.

In 2020, the COVID-19 pandemic positively impacted the robotic process automation market in SAM due to the increasing spending on the healthcare sector. As per observation, in October 2020, the Brazilian government spent over 120 billion Brazilian reals (US$ 21.31 billion) on the healthcare industry, out of which more than 37% was allocated to the hospital and outpatient care. Thus, the healthcare industry was positively impacted during 2020, which boosted the market growth.

As per South and Central America robotic process automation market analysis in 2021 and 2022, the growth of defense, financial institutions, and telecommunication sectors bolstered the South and Central America robotic process automation market growth. South and Central America’s fintech sector is booming. For instance, US$ 2 billion was invested in financial services, according to Crunchbase Inc. in June 2021. Therefore, the increasing adoption of RPA among fintech companies is expected to drive the market growth during the forecast period.

The South and Central America robotic process automation market size before COVID-19 pandemic was US$ 63.3 million in 2019. The market size during the pandemic was US$ 84.9 million in 2020. Furthermore, in 2021, the South and Central America robotic process automation market size was at US$ 115.3 million. Therefore, the overall impact of COVID-19 pandemic on the South and Central America robotic process automation market was positive in 2020.

Growtec, Atos SE, NICE Ltd., AUTOMATIONEDGE, Pegasystems Inc., SAP SE, Blue Prism Group, HelpSystems, UiPath, and IBM Corporation are among the key companies profiled in the South and Central America robotic process automation market. Several other players are also functioning in the market, contributing significant revenue shares year-on-year.

TABLE OF CONTENTS

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

South and Central America Robotic Process Automation Market - Companies Mentioned

• 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

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