Global Robotic Process Automation Market By Component (Software and Service), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small & Medium Sized Enterprises), and Industry Vertical (Manufacturing, BFSI, Healthcare & Pharmaceuticals, IT & Telecommunications, Retail & Consumer Goods, Government & Defense, Energy & Utilities, Transportation & Logistics, and Others) and By Region (North America, Europe, North America, Latin America, and Middle East and Africa) – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2030

Global Robotic Process Automation Market Overview

The use of software with Artificial Intelligence and Machine Learning skills for managing huge amounts of tasks and data, such as searches, calculations, record maintenance, and transitions, is known as robotic process automation.   These industries are significantly responsible for market growth in the pharmaceutical and healthcare industries. The banking and financial services industries, on the other hand, are the largest market participants in robotic process automation (RPA). These companies are gradually introducing new items to the robotic process automation market. Most of them are more advanced and effective. Workers become more efficient in the production.

The integration of cognitive technologies and changing business processes across enterprises acts as one of the major factors driving the growth of robotic process automation market over the upcoming years. The robotic process automation market is growing due to factors such as the integration of robotic process automation with traditional business processes and the ease of implementing RPA. Data security risk in the financial sector, lack of understanding about RPA, and limited potential for RPA in knowledge-based business processes are all restricting the market of robotic process automation industry.

Market Size

According to Business Intelligence Insights “ The Global Robotic Process Automation market" is expected to grow from USD 1,729.50 billion in 2021 to USD 21714.68118 billion by 2028, at a CAGR of 37.20% during the forecast period 2022-2030
 

Covid -19 Impact Analysis

The unanticipated outbreak of Covid 19 has had a positive influence on market growthThe global robotic process automation market has seen significant growth in recent years; however, due to the outbreak of the COVID-19 pandemic, the market is expected to skyrocket in 2020, as the pandemic is a game-changer for robotic process automation solution providers as industries, particularly manufacturing, ramp up their use of bots for repetitive tasks. Businesses are adopting automation solutions because of the economic slowdown caused by the pandemic. Various businesses throughout the world will be evaluating the capabilities of cognitive robotic process automation in managing work with widely scattered workforces and consumer interactions.

Market Dynamics

• Drivers
  • integration of cognitive technologies and changing business
  • the ease of implementing RPA.
• Restraints
  • lack of understanding about RPA

Segmentation Insights

 By Organization Outlook:

Large Enterprise category dominated the market with more than 67% of the market share

The large enterprise segment has captured more than 67% of the RPA market during the forecast period. Growing demand for business process automation and an increase in the number of virtual workers among large businesses are expected to drive the segment expansion over the forecast period. Additionally, RPA providers are providing additional services to existing clients by extending their licensing period at no additional cost, which is projected to boost demand for RPA during the forecast period.

By Application Outlook:

The BFSI segment held more than 29% share in the market share

The mode of application in which Robotic Process Automation can be taken are pharma & healthcare, IT & telecom, retail & consumer goods, communication, and media & education, BFSI, logistics, and energy & utilities, manufacturing, and others. In the worldwide Robotic Process Automation industry, BSFI is the most popular application mode.The BSFI sector dominates the largest share in the market over the upcoming year.RPA solutions are required in the BFSI business to automate repetitive processes such as compliance rules, transaction emails, advertising offers, and data collection, among other things. These solutions help to improve the accuracy and efficiency of processes, as well as compliance with statutory requirements and acquire data from various systems. Furthermore, rising security concerns over bank fraud and cyber-attacks are projected to drive demand for RPA technologies.

Type Outlook

• Software
• Service

Deployment Outlook

• Cloud

• On-premises

Organization Outlook

• Large Enterprises
• Small & Medium Enterprises

Application Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• Pharma & Healthcare
• Retail & Consumer Goods
• Information Technology (IT) & Telecom
• Communication and Media & Education
• Manufacturing
• Logistics and Energy & Utilities
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• North America
  • China
  • India
  • Japan
  • Rest of North America
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • UAE
  • South Africa
  • Rest of Middle East and Africa (MEA)

Key Players

• Automation Anywhere
• Blue Prism
• Edge Verve Systems Ltd.
• FPT Software
• KOFAX, Inc.
• NICE
• NTT Advanced Technology Corp.
• Unisource, Inc.
• Pegasystems
• UiPath
• Others

Regional Insights

North America dominated the market with more than 337.26% of the market share

In both developed and emerging countries, the North Americarobotic process automation market grew rapidly. The market in North America is expected to expand at a significant growth rate due to technological developments in developing countries. The Robotic Process Automation market in the country is being driven by adoption across the pharma, healthcare, IT and Telecom, retail, and manufacturing industries in the region. Similarly, in coming years, the growth of the Robotic Process Automation market is foretold to show a significant increase in use of dietary products, such as, Asia Pacific and Europe.

Table

Report Attributes	Details
Market Size Value in 2021	USD 1,729.50 billion
Market Size Value in 2028	USD 21714.68118 billion
Growth Rate	+ 37.20%
Base Year	2021
Forecast Period	2022-2030
Historical Data	2018-2020
Forecast Units	(USD Billion)
Countries Covered	North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE
Segments Covered	Type Outlook, Deployment Outlook, Organization Outlook, Application Outlook, By Region
Competitive landscape	Leading companies, Competitive strategies and Consumer engagement scope
Customization is available	If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions

 

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