USD 8.31 billion
Global Robotic Process Automation Market Size, Share, Growth Analysis, By Type(Software, Service), By Services(Consulting, Implementing), By Deployment(Cloud, On-Premise), By Organization(Large Enterprises, Small) - Industry Forecast 2023-2030
Report ID: SQMIG45K2027 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 115 | Figures: 77
Global Robotic Process Automation Market Insights
Robotic Process Automation Market size was valued at USD 8.31 billion in 2021 and is poised to grow from USD 10.01 billion in 2022 to USD 50.5 billion by 2030, growing at a CAGR of 20.3% in the forecast period (2023-2030).
With the integration of robotic process automation (RPA) and machine learning, software bots become capable of executing tasks similar to human decision-making capabilities. Moreover, Artificial Intelligence (AI) can support in structuring unstructured information, increase business insights, and progress data integrity through RPA. It is expected that the bot solution will be able to overcome challenges in RPA, such as identifying processes for automation by recording and analyzing keystrokes from the worker's desktop.
The AI embedded in RPA bots and its application in enhancing automated processes across enterprises is expected to augment the Robotic Process Automation Market growth over the forecast period. A highly competitive Robotic Process Automation Market has made it necessary to increase the agility of work and deliver enhanced customer experiences. In the BFSI, healthcare, IT and Telecom, and other industries, RPA is being used to increase productivity and efficiency while reducing overhead labor costs.
US Position Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Growth Rate
20.3% CAGR
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Global Robotic Process Automation Market Segmental Analysis
The Global robotic process automation Robotic Process Automation Market is segmented based on Type, Services, Deployment, Organization, Application and Region. Based on Type it is categorized into: Software, Service. Based on Services it is categorized into: Consulting, Implementing, Training. Based on Deployment it is categorized into: Cloud, On-Premise. Based on Organization it is categorized into: Large Enterprises, Small and Medium Enterprises (SMEs). Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Robotic Process Automation Market Analysis by Organization
Among all Organization, the large enterprises have the largest Robotic Process Automation Market share in the robotic process automation industry. Multiple systems in the large enterprise segments such as, BFSI domain are linked together by interfaces to allow the flow of transaction-related data. Robotic process automation (RPA) manages and monitors these interfaces, ensuring that transactions run smoothly, and data gaps are filled. In the BFSI industry, robotic process automation (RPA) enhances the accuracy and efficiency of many procedures. These solutions also aid regulatory reporting and balance sheet reconciliation by combining data from numerous systems and performing a slew of validation tests to prepare data for a thorough examination.
Robotic Process Automation Market Analysis by Service
The consulting segment accounted for more than 41% of total revenue in 2021 and is expected to grow at a significant CAGR from 2022 to 2028. The increasing awareness of automation among organizations is responsible for the segment's growth. The RPA consulting service is critical for determining the type of RPA solution needed to be based on the nature of the enterprise's business. RPA consultants collaborate with customers from industries such as BFSI, Manufacturing, and IT & Telecom to determine how to process re-design and automation can have a direct and immediate impact on customer KPIs.
Global Robotic Process Automation By Organization, 2021(%), 2021 (%)
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Global Robotic Process Automation Market Regional Insights
North America leads the overall Robotic Process Automation Market with the largest market share of over 35% in 2021. As a result of high penetration enterprise adoption of process management and automation solutions by government agencies throughout the region. In addition, the adoption of increased awareness of RPA among SMEs in North America various business functions, such as accounting/finance, data management, etc. Record keeping, procurement details, and other HR-related tasks the Robotic Process Automation Market is growing due to processes.
Global Robotic Process Automation By Geography, 2021 - 2027, 2023-2030
- Largest
- Fastest
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Global Robotic Process Automation Market Dynamics
Robotic Process Automation Market Driver
- Contact centre outsourcing, banking, financial services, and insurance (BFSI), business process outsourcing (BPO), procurement outsourcing, and human resources outsourcing (HRO) are all growing at a rapid pace. As a result of its ability to perform a variety of tasks such as account opening and closing, completing requests for quotation and proposals, IT system testing and monitoring, and handling queries in the billing and customer service departments, robotic process automation has a huge Robotic Process Automation Market potential across various business verticals. Healthcare, BPO, banking, and insurance businesses all adopt robotic process automation because their processes are well-defined, repeatable, and rule based.
Robotic Process Automation Market Restraint
- Internal and external business procedures both were impacted by the global pandemic. Retail, manufacturing, and IT & Telecom industries were experiencing a drop in business, while healthcare organizations were overburdened by the rising number of Covid-19 cases. This unusual occurrence wreaked havoc on the back- and front-end office operations, resulting in extended response times, staff burnout, paperwork backlogs, and supply chain interruptions, to name a few consequences. As a result, putting in place an automation solution was critical to cutting expenses, improving customer service, and expediting testing and reporting.
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Global Robotic Process Automation Market Competitive Landscape
In today's highly competitive industry, increasing work agility and providing better client experiences have become critical. RPA is being used by businesses in the BFSI, healthcare, IT and Telecom, and other industries to boost productivity and efficiency while lowering labor costs for repetitive operations. RPA bots can retrieve information from a variety of legacy systems using the digital platform. Bank customers, for example, can check their accounts online and set up automatic bill payment and KYC verification, among other things, using the internet.
By contributing to the delivery of a better client experience, these services have reduced manual intervention. Thereby, the need to automate repeated tasks across business domains, such as tech support, technology, finance, HR, operation, and procurement, is contributing to the Robotic Process Automation Market growth.
Robotic Process Automation Market Top Players Company Profiles
- Automation Anywhere
- Blue Prism
- UiPath
- WorkFusion
- Kofax
- NICE
- Pegasystems
- Redwood Software
- SAP
- Appian
- EdgeVerve
- HelpSystems
- Jacada
- Kryon
- Thoughtonomy
- Softomotive
- Datamatics
- Epiance
- Jidoka
- AutomationEdge
Robotic Process Automation Market Recent Developments
- In April 2022, Gluware launched RPA to simplify network automation workflow
- In February 2022, UltimateSuite Launched Robotic Process Mining for Task Discovery
- In March 2021, UiPath acquired API integration platform Cloud Element and extended its customer base.
- In March 2021, Automation Anywhere teamed up with Google to help develop a new suite of technologies that can automate essential job responsibilities in businesses.
Global Robotic Process Automation Key Market Trends
- Over the forecast period, a shift in company business operations because of the pandemic-induced work-from-home situation is likely to boost the Robotic Process Automation Market growth. The market is expected to evolve because of the integration of cognitive technologies and the transformation of business processes across companies.
- Over the forecast period, the Robotic Process Automation Market is expected to be driven by the growing demand to automate redundant processes. Automation enables organizations to implement, execute, and arrange a vast amount of data in less time than a mechanical operation while incurring lower overhead costs.
Global Robotic Process Automation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research has identified that the technology's role is evolving at a faster rate, assisting in overcoming business challenges and meeting ever-changing consumer requirements. The combination of robotic process automation (RPA) and machine learning can help advance software bot capabilities beyond rule-based processes, allowing task execution similar to human decision-making skills. Moreover, Artificial Intelligence (AI) in RPA can assist in the structuring of unstructured data, the enhancement of business insights, and the improvement of data integrity.
Scope of the Report/Market Inclusion-Exclusion
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the Robotic Process Automation Market, and mega trends that are influencing the dynamics in the Robotic Process Automation Market. Also, get access to detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 8.31 billion |
| Market size value in 2030 | USD 10.01 billion |
| Growth Rate | 20.3% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Robotic Process Automation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Robotic Process Automation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Robotic Process Automation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Robotic Process Automation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Robotic Process Automation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Robotic Process Automation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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