Key Market Insights
Robotic process automation (RPA) aiding value to the businesses worldwide
Robotic process automation (RPA) is the use of software bots to automate highly repetitive, routine tasks normally performed by knowledge workers. Automating repetitive tasks saves time and money. Robotic process automation bots expand the value of an automation platform by completing tasks faster, allowing employees to perform higher-value work. It helps in carrying out high-volume and repetitive tasks that take a lot of time for humans to accomplish, and which are typically monotonous to perform in the robotic process automation market.
Technological advancements have influenced businesses across the world to overcome new challenges aimed to cope with changing consumer demand and requirements. Also, it is helping these businesses to be competitive in the global market. RPA has the ability to deliver seamless operation coupled with significant value addition from the resources. These organizations worldwide are continually looking to identify processes that can be automated to accelerate productivity. In the recent past, large enterprises, as well as SMEs, are increasingly adopting robotic process automation, considering the benefits it is providing to their businesses.
With the increasing competitiveness among the market players, there is a decreasing cost of automation software and services. In addition, a surge in demand for virtual workforce also supporting the growth of the market across the globe. Overall, the global robotic process automation market was US$ 898.3 Mn in 2018 and expected to reach US$ 10,781.0 Mn by 2027, growing at a CAGR of 31.8% from 2019 to 2027.
RPA Type Segment Analysis
Service segment dominating the market
The RPA type segment is segmented into software and service. The service segment accounted for the largest share in the RPA market size in 2018. The service segment accounted for around 60% of the overall revenue share of the market for robotic process automation in 2018. The growing competition among the service providers is continuously enhancing advisory, consulting, and training services. This, in turn, helping the software user and service takers to achieve reduced costs and increased scalability. During the forecast period, it is estimated that the service segment will keep its dominance.
Regional Analysis
North America dominating the global market by region
The North American region dominated the market for robotic process automation in 2018, and it is expected to continue its dominance over the forecast period. The increased penetration of automation and process management solutions across the well-established and technologically advanced industries present in the region have added advantages to the market. Furthermore, SMEs are increasingly adopting RPA technology within their business functions such as accounting/finance, human resource-related processes, and procurement. In addition, strong support from the U.S. government has encouraged all other state governments’ agencies to implement robotic process automation, which has fostered market growth.
The Asia Pacific region is expected to witness the fastest CAGR over the forecast period. Rising awareness about automation in the region is also expected to boost demand. Strong industrial growth and increasing investment from global players have added advantages to the adoption of RPA in the region. Furthermore, increasing demand for business process automation solutions in the BPO sector in China and India is contributing to regional growth. However, lack of trained and skilled employees is the major concern in the region and that is obstructing the regional market growth. Furthermore, those SMEs having budget constraints are having affordability issues that prove to the challenges for the RPA vendors.
Growing partnerships is keeping the market competitive
The global robotic process automation market is competitive. Prominent players operating in the robotic process automation market are adopting strategies such as a partnership with other companies, acquisition of smaller players to increase their client base and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
Key Industry Development:
In May 2019, UiPath and Mannai Trading Co. WLL, the largest Systems Integrator & leading provider for Business Process Management (BPM) automation in Qatar, announced a technological partnership to drive a new level of integration of RPA to organizations in Qatar. This partnership with UiPath will provide customers in Qatar with access to best-of-breed implementation and management services along with industry-leading RPA and Intelligent Automation technology.
In May 2019, UiPath, the leading enterprise Robotic Process Automation (RPA) software company, announced that it has partnered with PFS Tech, a boutique IT company offering digital consultancy, technology, and outsourcing services to provide solutions that increase operational efficiency and improve business performance using RPA to automate repetitive, time-consuming tasks. Through this partnership, PFS Tech will enlist its extensive experience in the digital transformation and process automation fields and utilize UiPath’s AI-powered RPA platform towards delivering fully integrated solutions to PFS Tech clients.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the global robotic process automation market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Unique data points of this report
Recent trends across different regions in terms of the development of robotic process automation market
Attractive investment proposition for application segment as well as geography
Key questions answered in this report
This product will be delivered within 2 business days.
Robotic process automation (RPA) aiding value to the businesses worldwide
Robotic process automation (RPA) is the use of software bots to automate highly repetitive, routine tasks normally performed by knowledge workers. Automating repetitive tasks saves time and money. Robotic process automation bots expand the value of an automation platform by completing tasks faster, allowing employees to perform higher-value work. It helps in carrying out high-volume and repetitive tasks that take a lot of time for humans to accomplish, and which are typically monotonous to perform in the robotic process automation market.
Technological advancements have influenced businesses across the world to overcome new challenges aimed to cope with changing consumer demand and requirements. Also, it is helping these businesses to be competitive in the global market. RPA has the ability to deliver seamless operation coupled with significant value addition from the resources. These organizations worldwide are continually looking to identify processes that can be automated to accelerate productivity. In the recent past, large enterprises, as well as SMEs, are increasingly adopting robotic process automation, considering the benefits it is providing to their businesses.
With the increasing competitiveness among the market players, there is a decreasing cost of automation software and services. In addition, a surge in demand for virtual workforce also supporting the growth of the market across the globe. Overall, the global robotic process automation market was US$ 898.3 Mn in 2018 and expected to reach US$ 10,781.0 Mn by 2027, growing at a CAGR of 31.8% from 2019 to 2027.
RPA Type Segment Analysis
Service segment dominating the market
The RPA type segment is segmented into software and service. The service segment accounted for the largest share in the RPA market size in 2018. The service segment accounted for around 60% of the overall revenue share of the market for robotic process automation in 2018. The growing competition among the service providers is continuously enhancing advisory, consulting, and training services. This, in turn, helping the software user and service takers to achieve reduced costs and increased scalability. During the forecast period, it is estimated that the service segment will keep its dominance.
Regional Analysis
North America dominating the global market by region
The North American region dominated the market for robotic process automation in 2018, and it is expected to continue its dominance over the forecast period. The increased penetration of automation and process management solutions across the well-established and technologically advanced industries present in the region have added advantages to the market. Furthermore, SMEs are increasingly adopting RPA technology within their business functions such as accounting/finance, human resource-related processes, and procurement. In addition, strong support from the U.S. government has encouraged all other state governments’ agencies to implement robotic process automation, which has fostered market growth.
The Asia Pacific region is expected to witness the fastest CAGR over the forecast period. Rising awareness about automation in the region is also expected to boost demand. Strong industrial growth and increasing investment from global players have added advantages to the adoption of RPA in the region. Furthermore, increasing demand for business process automation solutions in the BPO sector in China and India is contributing to regional growth. However, lack of trained and skilled employees is the major concern in the region and that is obstructing the regional market growth. Furthermore, those SMEs having budget constraints are having affordability issues that prove to the challenges for the RPA vendors.
Growing partnerships is keeping the market competitive
The global robotic process automation market is competitive. Prominent players operating in the robotic process automation market are adopting strategies such as a partnership with other companies, acquisition of smaller players to increase their client base and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
- UiPath
- Automation Anywhere Inc.
- Blue Prism Ltd.
- NICE
- Pegasystems Inc.
- Kofax Inc.
- NTT Advanced Technology Corporation
- EdgeVerve Systems Ltd.
- ActiveOps Ltd.
- HelpSystems
- Others
Key Industry Development:
In May 2019, UiPath and Mannai Trading Co. WLL, the largest Systems Integrator & leading provider for Business Process Management (BPM) automation in Qatar, announced a technological partnership to drive a new level of integration of RPA to organizations in Qatar. This partnership with UiPath will provide customers in Qatar with access to best-of-breed implementation and management services along with industry-leading RPA and Intelligent Automation technology.
In May 2019, UiPath, the leading enterprise Robotic Process Automation (RPA) software company, announced that it has partnered with PFS Tech, a boutique IT company offering digital consultancy, technology, and outsourcing services to provide solutions that increase operational efficiency and improve business performance using RPA to automate repetitive, time-consuming tasks. Through this partnership, PFS Tech will enlist its extensive experience in the digital transformation and process automation fields and utilize UiPath’s AI-powered RPA platform towards delivering fully integrated solutions to PFS Tech clients.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the global robotic process automation market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Unique data points of this report
Recent trends across different regions in terms of the development of robotic process automation market
Attractive investment proposition for application segment as well as geography
Key questions answered in this report
- What was the market size of the robotic process automation market in 2018 and forecast up to 2027?
- What are the key factors driving the global robotic process automation market?
- What are the key market trends and high-growth opportunities observed in the robotic process automation market?
- Which is the largest regional market for the robotic process automation market?
- Which segment will grow at a faster pace? Why?
- Which region will drive the market growth? Why?
- Which players are leading the robotic process automation market?
- What are the key strategies adopted by the leading players operating in the market?
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Robotic Process Automation (RPA) Market, by Solution , 2017 - 2027 (US$ Mn)
5. Global Robotic Process Automation (RPA) Market, by Automation Type, 2017 - 2027 (US$ Mn)
6. Global Robotic Process Automation (RPA) Market, by Process, 2017 - 2027 (US$ Mn)
7. Global Robotic Process Automation (RPA) Market, by Deployment, 2017 - 2027 (US$ Mn)
8. Global Robotic Process Automation (RPA) Market, by Enterprise Size, 2017 - 2027 (US$ Mn)
9. Global Robotic Process Automation (RPA) Market, by Enterprise Size, 2017 - 2027 (US$ Mn)
10. North America Robotic Process Automation (RPA) Analysis, 2017 - 2027 (US$ Mn)
11. Europe Robotic Process Automation (RPA) Analysis, 2017 - 2027 (US$ Mn)
12. Asia Pacific Robotic Process Automation (RPA) Analysis, 2017 - 2027 (US$ Mn)
13. Rest of the World Robotic Process Automation (RPA) Market Analysis, 2017 - 2027 (US$ Mn)
14. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- UiPath
- Automation Anywhere Inc.
- Blue Prism Ltd.
- NICE
- HelpSystems
