Robotic Process Automation Market: Global Industry Analysis and Forecast (2021-2029)

Robotic Process Automation Market was valued at US$ 520.5 Mn. in 2021. Global Robotic Process Automation Market size is expected to grow at a CAGR of 41.8 % through the forecast period.

Robotic Process Automation Market Overview:

A sophisticated software technique known as robotic process automation (RPA) creates, deploys, and manages software robots. It helps with data manipulation, transmitting data between programmes, eliciting replies, or carrying out transactions. By removing monotonous chores from employees' workdays, it also helps to streamline workflows and increase employee satisfaction, engagement, and productivity. In addition, it increases accuracy and resilience, speeds up transition, enhances compliance, and raises productivity. The use of RPA is growing across a wide range of industry sectors due to its scalability, low investment requirements, and high return on investment (ROI). Robotic Process Automation Market To know about the Research Methodology:-Request Free Sample Report Impact of Covid-19 on Robotic Process Automation Market: Businesses adopted a remote work ethic during the COVID-19 epidemic, which raised the requirement for workflow automation. Therefore, significant RPA adoption for sustaining and automating workflow was seen in 2020–2021. RPA usage has increased as a result of organisations' growing interest in no-code automation platforms, which has also contributed to its incorporation into business automation processes. Additionally, during the epidemic, cloud-based solutions have seen a huge increase in demand. Excellent commercial value, uneven deployment, operational cost savings, and overall security and resilience are all features of the cloud automation solutions. Additionally, it enhances the business workflows' backend procedures.

Robotic Process Automation Market Dynamics:

The market for robotic process automation is expected to grow as a result of factors such as the integration of robotic process automation with conventional business processes and the simplification of those processes brought on by the installation of robotic process automation. The demand for robotic process automation in the logistics industry is expected to increase, and automation processes are expected to be implemented more frequently in the BPO sector. The global robotic process automation market is anticipated to offer opportunities such as the integration of robotic process automation with new and emerging technologies. Robotic process automation can retrieve information and structure basic content needed to answer questions with the aid of voice recognition software. Additionally, it is anticipated that the growing need to streamline the complex handling procedure will accelerate industry growth. RPA and AI are being used by businesses in a variety of industries to boost production and efficiency. It has become crucial to increase work agility and provide better client experiences in a highly competitive industry. Robotic process automation (RPA) can be used to automate processes across a variety of older platforms and systems to gather data. For instance, bank users can access their account information online and perform other tasks like automatic bill payment and KYC verification. These services have reduced manual work and are helping to provide better customer service. In spite of the benefits described above, which are forecast to cause the market to rise steadily, firms' reluctance to convert from manual to automated processes is anticipated to limit market expansion. RPA solutions are being considered for deployment by businesses all over the world to enhance business operations. The use of this software is hindered by a lack of technological expertise. Within the next two to three years, professional service providers intend to use RPA solutions in their businesses.

Robotic Process Automation Market Segment Analysis:

Based on Type, the service segment dominated the global market with a XX% share in 2021. The advising, implementing, and training services make up the service Deployment. Due to intense competition among businesses, service providers are under pressure to enhance their consulting, training, and advising services. The need for RPA as a service has been fueled by ongoing improvements in automation services that offer great scalability and reduce cost. By focusing on the right vendor selection, the implementation of RPA as a service helps organisations’ discover the automation opportunities that need to be maximized and then construct business cases for a step toward the deployment of pilot projects. Robotic Process Automation Market Based on the Industry, BFSI sector held the largest revenue share in 2021, accounting for XX% of the overall market. Banks and other financial institutions can automate business activities including account opening, deposits, and loaning through the use of RPA in the BFSI sectors, largely to save costs. Additionally, it improves speed and efficiency and provides deep insights on AI integration, all of which are crucial for the BFSI sector to develop new regulations and services. The expanding financial activity has boosted transactions and data volumes built around older systems that are challenging to integrate as a result of rapid internationalisation. Robotic Process Automation Market Based on the Enterprise Size, the large enterprise segment estimated for the largest revenue share of more than xx% in 2021. Many large businesses use RPA to shorten the time spent on routine tasks and use the extra time to make strategic decisions. Additionally, RPA enables big businesses to rely on automation to lower human mistake rates, lower overhead costs, increase labour efficiency, and maintain regulatory compliance. Since these solutions are regarded as an essential Deployment to carry out automated operations with a smaller workforce, the RPA suppliers extended licencing periods at no additional cost for their existing clients as the pandemic impairs business income targets.

Robotic Process Automation Market Regional Insights:

The North America region dominated the market with xx % share in 2021. The Asia Pacific region is expected to witness significant growth at a CAGR of xx% through the forecast period. The rapid development of technology and the rising use of robotic process automation in the retail industry are the key factors driving this market. Furthermore, the presence of major industry players in the area, including Automation Anywhere, Inc., IPsoft Inc., and many others, is forecast to have a significant impact on the robotic process automation market. The primary reason fueling growth of the robotic process automation markets in the Asia Pacific region is the use of automation processes in the BFSI industry to lower costs and increase productivity. The forecast term is expected to see tremendous growth in Asia Pacific. The objective of the report is to present a comprehensive analysis of the Global Robotic Process Automation Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Robotic Process Automation Market dynamic, structure by analyzing the market segments and projecting the Robotic Process Automation Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Robotic Process Automation Market make the report investor’s guide.

Robotic Process Automation Market Scope: Inquire before buying

Global Robotic Process Automation Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 520.5 Mn.
Forecast Period 2022 to 2029 CAGR: 41.8% Market Size in 2029: US$ 6000.3 Mn.
Segments Covered: by Type • Software • Services
by Deployment • Cloud • On-premise
by Industry • BFSI • Telecom & IT • Retail and Consumer Goods • Manufacturing
by Enterprise Size • Large Enterprise • Small and Medium Enterprise

Robotic Process Automation Market by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Robotic Process Automation Market Key Players

Automation Anywhere Inc. • Blue Prism Group Plc • Be Informed B.V. • Jacada Inc. • OpenSpan • UiPath • PegasystemsInc • Celaton Ltd • Redwood Software • Arago GmbH • EnableSoft • Kofax • Kryon Systems • Softomotive • THOUGHTONOMY • Work Fusion Frequently Asked Questions: 1] What segments are covered in the Global Robotic Process Automation Market report? Ans. The segments covered in the Robotic Process Automation Market report are based on Type and Enterprise Size. 2] Which region is expected to hold the highest share in the Global Robotic Process Automation Market? Ans. North America region is expected to hold the highest share in the Robotic Process Automation Market. 3] What is the market size of the Global Robotic Process Automation Market by 2029? Ans. The market size of the Robotic Process Automation Market by 2029 is expected to reach US$ 6000.3 Mn. 4] What is the forecast period for the Global Robotic Process Automation Market? Ans. The forecast period for the Robotic Process Automation Market is 2022-2029. 5] What was the market size of the Global Robotic Process Automation Market in 2021? Ans. The market size of the Robotic Process Automation Market in 2021 was valued at US$ 520.5 Mn.
1. Global Robotic Process Automation Market Size: Research Methodology 2. Global Robotic Process Automation Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Robotic Process Automation Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Robotic Process Automation Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Robotic Process Automation Market Size Segmentation 4.1. Global Robotic Process Automation Market Size, by Type (2021-2029) • Software • Services 4.2. Global Robotic Process Automation Market Size, by Deployment (2021-2029) • Cloud • On-premise 4.3. Global Robotic Process Automation Market Size, by Industry (2021-2029) • BFSI • Telecom & IT • Retail and Consumer Goods • Manufacturing 4.4. Global Robotic Process Automation Market Size, by Enterprise Size (2021-2029) • Large Enterprise • Small and Medium Enterprise 5. North America Robotic Process Automation Market (2021-2029) 5.1. North America Robotic Process Automation Market Size, by Type (2021-2029) • Software • Services 5.2. North America Robotic Process Automation Market Size, by Deployment (2021-2029) • Cloud • On-premise 5.3. North America Robotic Process Automation Market Size, by Industry (2021-2029) • BFSI • Telecom & IT • Retail and Consumer Goods • Manufacturing 5.4. North America Robotic Process Automation Market Size, by Enterprise Size (2021-2029) • Large Enterprise • Small and Medium Enterprise 5.5. North America Robotic Process Automation Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Robotic Process Automation Market (2021-2029) 6.1. European Robotic Process Automation Market, by Type (2021-2029) 6.2. European Robotic Process Automation Market Size, by Deployment (2021-2029) 6.3. European Robotic Process Automation Market Size, by Industry (2021-2029) 6.4. European Robotic Process Automation Market, by Enterprise Size (2021-2029) 6.5. European Robotic Process Automation Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Robotic Process Automation Market (2021-2029) 7.1. Asia Pacific Robotic Process Automation Market, by Type (2021-2029) 7.2. Asia Pacific Robotic Process Automation Market Size, by Deployment (2021-2029) 7.3. Asia Pacific Robotic Process Automation Market Size, by Industry (2021-2029) 7.4. Asia Pacific Robotic Process Automation Market, by Enterprise Size (2021-2029) 7.5. Asia Pacific Robotic Process Automation Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Robotic Process Automation Market (2021-2029) 8.1. The Middle East and Africa Robotic Process Automation Market, by Type (2021-2029) 8.2. The Middle East and Africa Robotic Process Automation Market Size, by Deployment (2021-2029) 8.3. The Middle East and Africa Robotic Process Automation Market Size, by Industry (2021-2029) 8.4. The Middle East and Africa Robotic Process Automation Market, by Enterprise Size (2021-2029) 8.5. The Middle East and Africa Robotic Process Automation Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Robotic Process Automation Market (2021-2029) 9.1. Latin America Robotic Process Automation Market, by Type (2021-2029) 9.2. Latin America Robotic Process Automation Market Size, by Deployment (2021-2029) 9.3. Latin America Robotic Process Automation Market, by Enterprise Size (2021-2029) 9.4. Latin America Robotic Process Automation Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Automation Anywhere Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Blue Prism Group Plc 10.3. Be Informed B.V. 10.4. Jacada Inc. 10.5. OpenSpan 10.6. UiPath 10.7. PegasystemsInc 10.8. Celaton Ltd 10.9. Redwood Software 10.10. Arago GmbH 10.11. EnableSoft 10.12. Kofax 10.13. Kryon Systems 10.14. Softomotive 10.15. THOUGHTONOMY 10.16. WorkFusion

About This Report

Report ID 29002
Category Automation & Process Control
Published Date July 2022
Updated Date Sep 2022
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