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.
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
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
