The global robotic process automation market reached a value of US$ 2.4 billion in 2021. Looking forward, the market is projected to reach US$ 11.4 billion by 2027, exhibiting a CAGR of 30.08% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Robotic process automation (RPA) refers to an advanced software technology that builds, deploys, and manages software robots. It aids in manipulating data, passing data from different applications, triggering responses, or executing transactions. It also assists in streamlining workflows and increasing employee satisfaction, engagement, and productivity by eliminating repetitive tasks from their workdays. Apart from this, it offers greater resilience and higher accuracy, and accelerates transformation, improves compliance and boosts productivity. As it is also scalable, requires minimal investment, and provides a significant return on investment (ROI), the application of RPA is expanding among numerous industry verticals across the globe.
Due to the coronavirus disease (COVID-19) outbreak and consequent imposition of lockdown restrictions, there is a considerable rise in the shift towards remote working to comply with government regulations, continue business operations and prevent the spread of the pandemic. This represents one of the key factors driving the market. Moreover, RPA helps in inducing quick execution and the arrangement of a large volume of data in less time than mechanical procedures with reduced overhead expenditure for enterprises. Consequently, it is increasingly being utilized in the banking, financial services, and insurance (BFSI), healthcare, information technology (IT), and telecom industries worldwide. Furthermore, leading players are integrating RPA with advanced technologies, such as machine learning (ML), which is advancing the capabilities of software bots beyond rule-based processes. It is also allowing task execution like human decision-making skills. Additionally, these players are utilizing artificial intelligence (AI) to handle cognitive processes that require skills, such as understanding documents, visualizing screens, and comprehending speech and carrying on conversations and chats.
This report provides an analysis of the key trends in each sub-segment of the global robotic process automation market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on component, operation, deployment model, organization size and End-user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amelia US LLC, Automation Anywhere Inc., AutomationEdge, Blue Prism Group PLC, Infosys Limited, International Business Machines Corporation, Kofax Inc., NICE Ltd., Pegasystems Inc., UiPath, Verint Systems and WorkFusion Inc.
Robotic process automation (RPA) refers to an advanced software technology that builds, deploys, and manages software robots. It aids in manipulating data, passing data from different applications, triggering responses, or executing transactions. It also assists in streamlining workflows and increasing employee satisfaction, engagement, and productivity by eliminating repetitive tasks from their workdays. Apart from this, it offers greater resilience and higher accuracy, and accelerates transformation, improves compliance and boosts productivity. As it is also scalable, requires minimal investment, and provides a significant return on investment (ROI), the application of RPA is expanding among numerous industry verticals across the globe.
Robotic Process Automation Market Trends
Due to the coronavirus disease (COVID-19) outbreak and consequent imposition of lockdown restrictions, there is a considerable rise in the shift towards remote working to comply with government regulations, continue business operations and prevent the spread of the pandemic. This represents one of the key factors driving the market. Moreover, RPA helps in inducing quick execution and the arrangement of a large volume of data in less time than mechanical procedures with reduced overhead expenditure for enterprises. Consequently, it is increasingly being utilized in the banking, financial services, and insurance (BFSI), healthcare, information technology (IT), and telecom industries worldwide. Furthermore, leading players are integrating RPA with advanced technologies, such as machine learning (ML), which is advancing the capabilities of software bots beyond rule-based processes. It is also allowing task execution like human decision-making skills. Additionally, these players are utilizing artificial intelligence (AI) to handle cognitive processes that require skills, such as understanding documents, visualizing screens, and comprehending speech and carrying on conversations and chats.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global robotic process automation market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on component, operation, deployment model, organization size and End-user.
Breakup by Component:
- Software
- Services
Breakup by Operation:
- Rule-based
- Knowledge-based
Breakup by Deployment Model:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Sized Enterprises
Breakup by End-user:
- BFSI
- Healthcare and Pharmaceuticals
- Retail and Consumer Goods
- IT and Telecommunication
- Government and Defense
- Transportation and Logistics
- Energy and Utilities
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amelia US LLC, Automation Anywhere Inc., AutomationEdge, Blue Prism Group PLC, Infosys Limited, International Business Machines Corporation, Kofax Inc., NICE Ltd., Pegasystems Inc., UiPath, Verint Systems and WorkFusion Inc.
Key Questions Answered in This Report
- How has the global robotic process automation market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global robotic process automation market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the operation?
- What is the breakup of the market based on the deployment model?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global robotic process automation market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Robotic Process Automation Market
What is the estimated value of the Global Robotic Process Automation Market?
What is the growth rate of the Global Robotic Process Automation Market?
What is the forecasted size of the Global Robotic Process Automation Market?
Who are the key companies in the Global Robotic Process Automation Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 2.4 Billion |
| Forecasted Market Value ( USD | $ 11.4 Billion |
| Compound Annual Growth Rate | 29.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Robotic Process Automation Market
6 Market Breakup by Component
7 Market Breakup by Operation
8 Market Breakup by Deployment Mode
9 Market Breakup by Organization Size
10 Market Breakup by End User
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amelia US LLC
- Automation Anywhere Inc.
- AutomationEdge
- Blue Prism Group PLC
- Infosys Limited
- International Business Machines Corporation
- Kofax Inc.
- NICE Ltd.
- Pegasystems Inc.
- UiPath
- Verint Systems
- WorkFusion Inc
Methodology
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