Global Robotic Process Automation Market Size to Grow USD 25.83 Billion by 2030 | CAGR of 6.85%: Spherical Insights
According to a research report published by SphericalInsights, the Global Robotic Process Automation Market Size was valued at USD 6.85 billion in 2021 and expected to reach USD 25.83 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 30.76% during the forecast period. Major vendors in the Global Robotic Process Automation Market include IBM Corporation, EdgeVerve Systems Ltd., Automation Anywher, KOFAX, Inc., Kyron Systems, OnviSource, Inc., Blue Prism Group PLC, FPT Software, Pegasystems Inc., Nice Systems Ltd., WorkFusion, Inc.,
New York, United States,, March 21, 2023 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, The Global Robotic Process Automation Market Size is to Grow from USD 6.85 Billion in 2021 to USD 25.83 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 30.76% during the forecast period.
- The Global Robotic Process Automation Market Size was valued at USD 6.85 Billion in 2021
- The Worldwide Market is growing at a CAGR of 30.76% from 2022 to 2030
- The Worldwide Robotic Process Automation Market is expected to reach USD 25.83 Billion by 2030
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RPA technologies enable the automated execution of various tasks and transactions across disparate software systems by deploying scripts that mimic human operations. RPA tools can be used for a number of activities, including as receiving an invoice through email, extracting the data, and putting it into a bookkeeping system. Robotic process automation excels in transaction processing due to its superior accuracy, reduced cycle time, and increased productivity.
The Growth of the robotic process automation Market is being driven by the rising usage of advanced technologies such as artificial intelligence (AI), machine learning (ML), and the cloud. Major organizations are substantially investing in and utilizing robotic process automation to help automate their company operations and handle more complex data. However, the high cost of infrastructure and the constraints of customisation associated with RPA are hampering Market Growth.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on the “Global Robotic Process Automation Market Size, Share, and COVID-19 Impact Analysis, By Type (Software, Services), By Deployment Model (On-Premises, Cloud), By Industry Vertical (BFSI, Retail & Consumer Goods, Healthcare & Pharmaceuticals, IT & Telecommunication, Communication and Media & Education, Government & Defense, Energy & Utilities, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030″ Get Detailed Report Description Here:https:https://www.sphericalinsights.com/reports/robotic-process-automation-market
The services segment is witnessing significant CAGR Growth over the forecast period.
On the basis of type, the Global Robotic Process Automation Market is segmented into software and services. Among these, the services segment is expected to increase at a significant CAGR during the forecast period. The need for robotic process automation as a service has been fueled by ongoing improvements in automation services that enable great scalability while minimizing cost. Robotic process automation services also improve accuracy and lower the cost of establishing a virtual workforce.
The on-premises segment is dominating the market over the forecast period.
On the basis of type, the Global Robotic Process Automation Market is segmented into on-premises and cloud. Among these, the on-premises segment is witnessing significant CAGR growth over the forecast period. The growing adoption of on-premises robotic process automation by small businesses looking to save money by automating a significant volume of activities with RPA and having adequate IT assistance to maintain the infrastructure.
The BFSI segment is dominating the market with the largest market share of 33% over the forecast period.
Based on the industry verticals, the Global Robotic Process Automation Market Size is segmented into BFSI, retail & consumer goods, healthcare & pharmaceuticals, IT & telecommunication, communication, and media & education, government & defense, energy & utilities, and others. Among these, the BFSI segment is dominating the market with the largest market share of 33% over the forecast period. The use of robotic process automation increases efficiency and work speed by allowing the BFSI sector to build new policies and services by combining robotic process automation with AI.
Similarly, the healthcare and pharmaceutical industries have recognized the value of contemporary IT infrastructure and are changing their focus to integrating future technologies into present infrastructure.
Robotic Process Automation Market Report Scope: –
|Market Size 2030||USD 25.83 Billion|
|Forecast Units||Value (USD Billion)|
|Segments Covered||By Type, By Deployment Model, By Industry Vertical, By Region|
|Report Coverage||Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World|
|Key Companies Profiled/Vendors||IBM Corporation, EdgeVerve Systems Ltd., Automation Anywher, KOFAX, Inc., Kyron Systems, OnviSource, Inc., Blue Prism Group PLC, FPT Software, Pegasystems Inc., Nice Systems Ltd., WorkFusion, Inc., UiPath, Jacada Inc., Salesforce, Xerox Corporation, Microsoft Corporation, NTT Advanced Technology Corp., Datamatics Global Services Limited|
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North America is dominating the market with the largest market share of 62%.
North America, with a 62% market share, is expected to remain the industry’s leading region during the projection period. The United States is one of the world’s largest markets for robots, as well as a key inventor and leader in robotics adoption. Increasing government and regulatory actions to promote RPA deployment across a wide range of industries are expected to boost market growth during the forecast period.
Asia Pacific is predicted to grow the fastest over the forecast period, owing to the increased adoption of robotic process automation across a wide range of industries, including manufacturing, retail, IT & Telecom, healthcare & pharma, and many others.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Robotic Process Automation Market based on the below-mentioned segments:
Global Robotic Process Automation Market, By Type
Global Robotic Process Automation Market, By Deployment Model
Global Robotic Process Automation Market, By Industry Vertical
- Retail & Consumer Goods
- Healthcare & Pharmaceuticals
- IT & Telecommunication
- Communication and Media & Education
- Government & Defense
- Energy & Utilities
- North America
- Latin America
- The Middle East and Africa
List of Key Companies
- IBM Corporation
- EdgeVerve Systems Ltd.
- Automation Anywhere
- KOFAX, Inc.
- Kyron Systems
- OnviSource, Inc.
- Blue Prism Group PLC
- FPT Software
- Pegasystems Inc.
- Nice Systems Ltd.
- WorkFusion, Inc.
- Jacada Inc.
- Xerox Corporation
- Microsoft Corporation
- NTT Advanced Technology Corp.
- Datamatics Global Services Limited
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Some Recent Developments News in the Global Robotic Process Automation Market:
- In October 2022, Pegasystems Inc. has unveiled the next version of Robot Studio, the low-code authoring environment for Pega’s intelligent automation platform. The updated Robot Studio makes it even easier for users of any experience level to swiftly design robotic automations that improve the efficiency of any business process.
- In October 2022, Automation Anywhere, a provider of robotic process automation, has introduced its Automation Success Platform, which includes new robotic process automation solutions for process discovery and document processing. This popular platform enables businesses to automate all elements of their operations.
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About the Spherical Insights
Spherical Insights is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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