What is the global market size of Robotic Process Automation Market?

Global Robotic Process Automation Market was valued at USD 2.1 Billion in 2021, and it is expected to reach a value of USD 17.43 Billion by 2028, at a CAGR of 35.3% over the forecast period (2022-2028). Read More

What is the key driver of Global Robotic Process Automation Market?

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. Read More

What is the key market trend for Global Robotic Process Automation Market?

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. Read More

Global Robotic Process Automation Market Size, Share, Growth Analysis, By Type(Software, Service), By Deployment(Cloud, On-Premise), By Organization(Large Enterprises, Small), By End-User(IT and Telecom, BFSI) - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Robotic Process Automation Market?

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. Read More

Report ID: SQMIG45J2216 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 116 | Figures: 77

Global Robotic Process Automation Market Regional Insights

North America leads the overall market with the largest market share of over 38% in 2023. Due to 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 market is growing due to processes.

Whereas the Asia-Pacific region is the fastest-growing market for RPA software, driven by several factors. Rapid economic growth, particularly in countries like China and India, spurs investments in automation solutions. The region's growing IT infrastructure provides a solid foundation for RPA adoption. Rising labor costs in certain areas of APAC incentivize companies to automate tasks, optimizing their workforce. Government initiatives promoting automation further boost adoption, enhancing industrial competitiveness. Additionally, increasing awareness and adoption across industries, from manufacturing to healthcare, contribute to the rapid growth of RPA in the Asia-Pacific region

Global Robotic Process Automation Market Report Snapshots

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Global Robotic Process Automation Market size was valued at USD 2.58 Billion in 2022 and is poised to grow from USD 3.39 Billion in 2023 to USD 30.34 Billion by 2031, at a CAGR of 31.5% during the forecast period (2024-2031).

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. 'Automation Anywhere', 'Blue Prism', 'UiPath', 'WorkFusion', 'Kofax', 'NICE', 'Pegasystems', 'Redwood Software', 'SAP', 'Appian', 'EdgeVerve', 'HelpSystems', 'Jacada', 'Kryon', 'Thoughtonomy', 'Softomotive', 'Datamatics', 'Epiance', 'Jidoka', 'AutomationEdge'

The exponential growth of data in business operations is staggering. Robotics Process Automation (RPA) emerges as a vital solution, automating data processing tasks with precision and efficiency. As businesses grapple with massive volumes of information, RPA streamlines operations by handling this data swiftly and accurately. This automation not only reduces human error but also enhances the speed and reliability of data processing, empowering organizations to manage and utilize their vast datasets effectively.

Integration of AI and Machine Learning (ML): RPA software companies are increasingly integrating AI and ML functionalities into their platforms. This allows bots to handle more complex processes that involve decision-making, pattern recognition, and unstructured data analysis.

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