In one of its recent reports, titled, “IT Robotics Automation Market: Global Industry Analysis and Opportunity Assessment 2017-2027,” MarketResearchReports.biz presents a 360-degree view of the market. It unravels the factors promoting or hindering the market. Further, the report throws light on the companies operating in the market, their sales and revenues, and based on it tries to gauge the size of the market. It also tries to examine the competitive dynamics in the market by using market leading tools, namely SWOT Analysis and Porter’s Five Forces.
IT, robotics, and automation market is surging ahead because of its myriad benefits. Those are used to automate repetitive tasks. They bring about accuracy and speed, and are particularly beneficial for companies having a return on investment from 300% to 600%. Such latest sophisticated technologies are increasingly being used by companies to promote productivity. They also do away with the cost of hiring laborers for the work. Hence, the market growth is expected to be stellar in the next couple of years.
Another factor promoting the global IT, robotics, automation market is the use of such technologies in a difficult environments. Mining and oil and gas industries, for example, are at the forefront of adopting those to avoid human casualties. Apart from that, continued thrust on bettering those, especially by deep-pocketed players by investing heavily in research and development has also boosted the market. With more powerful sensors powering IoTs and big data analytics, these technologies are becoming ever more sophisticated by the day.
There are a few concerns, however, that are having a negative impact on the market. One of those is the loss of jobs of laborers. This has led to many, including the tech czar Bill Gates, to protest against too much automation in industries, manufacturing units, commercial establishments. Another factor is the high cost of deploying those which has especially deterred small and medium industries from buying those.
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The different types of solutions in the global IT robotics automation market can be categorized into tools and services. Depending upon services, it can be classified into training and professional services. With respect to geography again, the market can be divided into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among them, North America and Europe are leading markets as they already deploy innumerable robots in various areas. Meanwhile, Asia Pacific and Latin America are emerging as promising markets because of the rising industrialization in the regions. China, Japan, and Russia are fast adopters of IT, robotics, and automation.
Key participants in the global IT, robotics, automation market include TCS, Infosys, Accenture, Cognizant, and Hewlett Packard Company.