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 Insights

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).

The Robotics Process Automation (RPA) market involves using software or "bots" to automate repetitive tasks within business processes. These bots do various human actions and interact with digital systems to execute tasks such as data entry, processing transactions, and generating reports. RPA technology provides various benefits to organizations, which include improved efficiency, accuracy, and cost savings by reducing the need for manual labor in routine tasks. RPA market is expected to experience rapid growth, due to increasing adoption across various industries such as finance, healthcare, manufacturing, and logistics. Companies are using RPA technology to streamline operations, enhance productivity, and free up human resources, so that they can be for more strategic and value-added tasks.

As businesses seek to optimize processes and improve agility, the demand for RPA solutions is expected to continue rising. Additionally, advancements in artificial intelligence (AI) and machine learning are further enhancing the capabilities of RPA, enabling intelligent automation and greater process optimization. The RPA market is characterized by a competitive landscape with numerous vendors offering a range of solutions tailored to specific industry needs, contributing to market diversity and innovation.

US Position Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Robotic Process Automation Market Report Snapshots

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FAQs

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.

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.

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