Global Robotics Process Automation (RPA) Market Highlights over 2022-2031

The global robotics process automation (RPA) market was estimated to be worth USD 1.6 billion in 2021 and is expected to further expand at a CAGR of 27% over the forecast period, i.e, 2022-2031. Robotics Process Automation is a type of software technology based on artificial intelligence that makes it easy to automate digital tasks. It is easy to use and manage. RPA automates the workflow making organizations profitable and responsive. The growth of the market can be attributed to the increasing adoption of artificial intelligence and cloud-based solutions for internal efficiency among organisations to increase their productivity and reduce overhead costs. Furthermore, the growing demand for smart software to carry out high-volume and repetitive tasks that usually take a lot of time for humans to accomplish, and which are typically monotonous to perform is also driving the market growth.

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The rise in the cases during COVID-19 demanded a rise in regular testing and registrations. It became impossible to handle the registration process manually without leaving any room for errors. To handle the registration process effortlessly and in a time-effective manner, hospitals started adopting automation solutions for registering cases, maintaining health records, and tracking the history of the patient. This contributed greatly to the growth of the robotics process automation market globally.

However, high set-up cost for the infrastructure to support RPA and lack of skilled professionals to manage RPA solutions effortlessly are the key factors restraining the growth of the market.

The market is segmented by deployment mode into on-premises and cloud, out of which, the cloud segment is expected to hold the largest share of the market in the forecast period owing to rapidly growing popularity of cloud-based RPA due to its ability to offer greater scalability, security, ease of access, and management while providing a superior experience to the users.

Based on application, the market is segmented into customer support, administration & reporting, data migration & capture extraction, analysis, and others, out of which, the analysis segment is anticipated to witness the highest growth during the forecast period. The growth of the segment can be attributed to the assistance provided to organizations to help them analyze sales, regular day-to-day work, latest trends, profits and losses, market reports, and other key organizational operations.

Global Robotics Process Automation (RPA) Market Regional Synopsis

Regionally, the global robotics process automation (RPA) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America region is expected to hold the largest share of the market owing to the presence of leading innovators and pioneers in terms of the adoption of robotics in the region. Furthermore, increased awareness about enhancing the various organizational tasks has led to increasing adoption of RPA by SMEs. This is projected to drive the market growth further.

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing awareness about RPA among SMEs and the growing adoption of RPA across various sectors, such as manufacturing, IT & telecom, healthcare, retail, and others. Moreover, the region is the center for the manufacturing and IT industries, and it is essential for both these industries to adopt automation services to increase their productivity and reduce errors.

Market Segmentation

Our in-depth analysis of the global robotics process automation includes the following segments:

By Operation

• Rule-Based

• Knowledge-Based

By Deployment Mode

• On-Premises

• Cloud

By Application

• Customer Support

• Administration & Reporting

• Data Migration & Capture Extraction

• Analysis

• Others

By Industry

• BFSI

• Healthcare

• IT & Telecom

• Manufacturing

• Retail

• Hospitality

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Robotics Process Automation Market

Growth Drivers:

• Increasing adoption of artificial intelligence and cloud-based solutions

• Growing demand for smart software to carry out high-volume and repetitive tasks

Challenges:

• High set-up cost for the infrastructure to support RPA

• Lack of skilled professionals to manage RPA solutions effortlessly

Key Companies Dominating the Global Robotics Process Automation Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global robotics process automation market that are included in our report are Pegasystems Inc., NICE, Kryon Systems, Naviant, Redwood Software, UiPath, Blue Prism Limited, Microsoft, Automation Anywhere, Inc., EdgeVerve Systems Limited, and others.

Latest Developments in the Global Robotics Process Automation Market

• October 2020: Automation Anywhere, Inc. launched a smart assistant for organizations to automate internal tasks. It is easy to use and caters to various organizational processes.

• August 2020: AirAsia Aviation Group Limited announced the implementation of robotic process automation to help increase productivity, reduce errors and redeploy resources to higher-value functions in the effort for higher cost savings and a better revenue.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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