Blue Prism Technology Services Market
Blue Prism Technology Services Market Analysis Report By Services (Advisory Services, Training Services, Maintenance & Support Services, Implementation Services), By Enterprise Size (SMBs, Large Enterprises), By Industry (IT & Telecom, BFSI), By Region - Global Insights 2022 To 2032
Global Blue Prism Technology Services Market Snapshot
The global blue prism technology services market is estimated at USD 362 Million in 2022 and is projected to reach USD 7,688 Million by 2032, growing at an exciting CAGR of 35.7% from 2022-2032.
Market size value in 2021A
USD 256 Million
Market estimated value in 2022E
USD 362 Million
Market forecast value in 2032F
USD 7,688 Million
Global Growth Rate (2022-2032)
North America Market Size in 2022
USD 117 Million
North America Growth Rate (2022-2032)
Top 5 Companies Market Share in 2022
Key Companies Profiled
Fact.MR estimates that global blue prism technology services accounts around ~20% of global robotic process automation market due to its improved automation and management technology. Consumers in search of hybrid robotic process automation technology are tend to find a right place for blue prism technology in their respective back-office processes.
Blue Prism’s development in a consistent manner over past half decade lead to its ecosystem expansion. This expansion then resulted in continued product differentiation along with new features acquisition that drives its demand among new users on the platform.
Along with continuous integrations of artificial intelligence (AI) and cognitive technologies into blue prism service, upgraded RPA solutions grabbed maximum customer base. Moreover, availability of pool of next-generation RPA solutions boosted the implementation rate of this technology across the globe.
Leading players in the blue prism technology services market collaborated with various vendors available in this hub. It escalated the demand of advanced RPA solutions, accelerated its overall business and swelled its global scale.
In accordance to technology implementation of blue prism, out of the prominent end use industries for blue prism technology services (IT & Telecom, Healthcare & Life Sciences, BFSI, Travel, Transportation and Logistics, Utility & Energy), BFSI (Banking & Financial Services Intelligence) is set to secure maximum market share ~23.5% by 2032 end.
The demand of blue prism to fight financial crime in financial service companies which include ‘Know Your Customer’ (KYC) is anticipated to multiply by 3.5X during assessment period of 2022-2032. Moreover, increased rate of digital transformation for ensuring financial stability in numerous business running across the globe acts as driver for demand of blue prism components.
Runtime environments for large number of small to large scale business require some specific management tool to optimize its workforce and enhance profit margin. Therefore, RPA tools and vendors provides a pool of programmed libraries which reduce human intervention and provides features such as data security, data analytics, data abstraction and data management in reformed manner. In contrast to what may appear from its name, robotic process automation contain real robots performing automated tasks. Rather, they work on set of programs encoded in the software.
Blue prism technology services platform research performed by Fact.MR delves on key insights such as current and speculative market approach, technical facilities offered by each blue prism vendor, current and speculative implementation rate, business optimization strategy across various running business, and techno-economic analysis by considering overall scenario of global robotic process automation market, global AI (Artificial Intelligence) industry, global RPA Tools market, global data security and data abstraction market, global cloud support industry, global blue prism components market and many more.
Historical Analysis Vs. Future Projections for Blue Prism Technology Services Market
According to Fact.MR, growth rate for blue prism technology services market was noted about 31.2% during past decade. Considering technicalities related to this service market, features of blue prism offered in historical period included only data management and security along with non-scalable cloud support. Whereas, with continuous upgradation accompanied by RPA blue prism providers, they started including secure & accurate encoded program, scalable cloud support, and data analytics (security, management & abstraction) to their clients.
In past half-decade, demand of an automated clerical back-office processing software got swelled up due to increase in the number of start-ups, merchandising, warehouse businesses, many similar fields. With strengthening occurred in these businesses, trend of ‘Digital Workforce’ gained traction due to incurred facilities such as improved business accuracy, cost-effective business operations and repetitive rule-based work processes.
Secondly, four main components of blue prism technology which includes (process diagram process studio, object studio, & application modeller) proved to be a virtual robotic process automation trainer for clients being thoughtful to procure this technology.
Attributed to the forecast analysis, specific requirement of execution intelligence on dynamic data present in multiple environments will account itself as best revenue generating opportunity in upcoming future. In similar context, blue prism technology suitable for various programing platforms and being able to represent enormous data as flow charts attracts more customers. Ergo, user friendly visual business objects provided in this advanced management technology uplifts its global presence and scale the present market value by 21X during forecast period of 2022-32.
How UK blue prism technology service market players leads this business from front?
Blue Prism Group Plc, a UK based blue prism technology service provider, collaborated with market leaders such as Accenture Plc., Deloitte Touche Tohmatsu Limited, and Avanade Inc., to introduce cutting-edge RPA tools by implementing blue prism technology services.
Amidst the emergence of several new competitive technologies in the RPA market, adoption rate of the blue prism technology started gaining rise. As per trend captured by this market in past half decade, several mergers and contracts were established between blue prism service providers and medium-scale merchandise running in American and European countries. Therefore, the hub of experienced blue prism technology providers located in UK started gaining revenue generating opportunities through business running around the globe.
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How Blue Prism Technology in BFSI Projected to Grab Maximum Share in Market?
Analysing the present trend for this market helps to comprehend why banking & financial services organizations looking to implement blue prism as their integrated part. Considering the need to manage compliance by a bank, it need a specific technology that could help it in limiting regulatory fines and decrease the probability of reputational damage. Therefore, most number of contracts are expected to be established in upcoming decade from the banking sector. Not only private banks, but public financial services are also showing curiosity in understanding benefits of this technology.
Every banking sector working with a target to cop up with existing and upcoming competition needs to provide seamless, personalized and digitally operated interface for its customers. Moreover, hike in demand raised by bank’s clients for extra financial facility is set to provide a gain of 1,245 BPS by generating ~23.5% of overall market valuation for blue prism by 2032 end.
How Blue Prism Technology capable of solving business challenges for SMBs (Small & Midsize Business)?
Considering the two foremost enterprise size interested in blue prism technology (SMBS & Large Enterprise), SMBs that is small and midsize businesses running in various emerging countries in Europe and Asian countries are supposed to generate around ~72% of overall revenue from this technology implementation.
Accounting to the fact that the small and medium scaled business are always under possibility of facing business frauds. Demand of such advanced automated technology which contain facilities like ‘fraud detection’ and ‘AML’ is likely to surpass valuation of USD 5.5 Billion by fourth quarter of 2032.
In addition, availability of features such as advanced cybersecurity, faster cash cycles, compliance monitoring system and due diligence checking turns out of be highly customized business tool for aforementioned business groups. Blue prism technology service market in SMBs is projected to grow with a stupendous CAGR of 38.7% during forecast period from 2022-2032.
Competition landscape: Top Companies of Blue Prism Technology Services Market
Market players in blue prism technology services business have mainly opted for growth oriented strategies which includes implementation rate of automation technology. In addition, collaborations, mergers, digital promotion and continuous technical advancements in the aforementioned technology hits the top position in their priority list. These strategies are helping the global players to expand their regional footprint and garner maximum market share by providing highly advanced and secured technical.
Fact.MR has provided detailed information about price points of top service providers of blue prism technology services positioned across regions, implementation growth, and speculative technological growth in the recently published report.
- Blue Prism, a robotic process automation market pioneer has been sold for value around USD 1.5 Billion to Vista Equity Partners in 2021 September which is set to fold itself into Tibco, its already acquired firm.
- Accenture sold its highly advanced business automation software in 2019 which cut around 40,000 internal roles.
Similar, recent developments related to companies offering in blue prism technology services have been tracked by the team at Fact.MR, which are available in the full report.
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By Services, Global Blue Prism Technology Services Market is segmented as:
- Advisory Services
- Training Services
- Maintenance & Support Services
- Implementation Services
By Enterprise Size, Global Blue Prism Technology Services Market is segmented as:
- Large Enterprises
By Industry, Global Blue Prism Technology Services Market is segmented as:
- IT & Telecom
- Healthcare & Life Sciences
- Travel, Transportation and Logistics
- Utilities & Energy
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