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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Robotic Process Automation Market Outlook
The global robotic process automation market stood at a value of around USD 5.66 billion in 2023. The market is further expected to grow at a CAGR of 36.3% in the forecast period of 2024-2032 to attain a value of nearly USD 92.21 billion by 2032.
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On-Premise Deployment Segment to Strengthen the Global Robotic Process Automation Industry
Based on deployment model, the on-premise segment is expected to hold a significant share in the global robotic process automation industry owing to its in-house ownership properties. In addition, the on-premise deployment of the RPA function helps maintain the security of the company's internal data while also ensuring the regulation of the automation process according to the company policies and protocols. In terms of industry vertical, the BFSI sector is estimated to witness a significant growth in the forecast period due to the rapid implementation of technological innovations and artificial intelligence solutions for routine tasks pertaining to data management, among others.
North America to Account for a Significant Market Share of the Global Robotic Process Automation Industry
Based on region, North America is predicted to hold a substantial share of the global robotic process automation industry. This surge can be attributed to the rapid adoption of automated solutions in various large and SMEs based in the region due to increased government initiatives for the implementation of RPA in multiple industries. Meanwhile, the Asia Pacific is expected to observe a steady growth rate in the forecast period owing to the rapid employment of RPA software tools in industries such as IT and telecom and retail.
Robotic Process Automation: Market Segmentation
Robotic process automation refers to the software mechanism that helps automate business processes, which are otherwise conducted manually. Users can create bots through this software tool, who learn rules concerning various business operations and emulate human actions in performing processes such as data entry and solving basic customer queries, such as chatbots available on multiple websites. These software tools help in reducing human effort in conducting repetitive and low-value tasks and allows users to focus on more practical, creative, and decision-making exercises.
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By component, the market is divided into:
- Software
- Service
Based on deployment model, the industry can be branched into:
- On-Premise
- Cloud
In terms of organisation size, the market can be segregated into:
- Large Enterprises
- Small and Medium- Sized Enterprises
Based on industry vertical, the market can be categorised into:
- BFSI
- Manufacturing
- Healthcare
- IT and Telecommunications
- Retail
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increased Demand for Automation of Routine Business Operations to Bolster the Global Robotic Process Automation Industry
In today’s increasingly competitive environment, organisations must be highly agile and dynamic in their work while also upholding the integrity and efficiency of their services in order to remain relevant. In this pursuit, robotic process automation is an incredibly sought-after software tool by organisations from various industry verticals such as transportation and logistics and healthcare, among others, looking to increase their work efficiency and reduce time utilised in monotonous tasks. Other benefits associated with RPA include reduced operational risk, improved data processing, accuracy in data outputs, reduced costs, and enhanced consumer experience. These factors are driving the market growth for robotic process automation globally.
In March 2021, Google announced a strategic alliance established between Google cloud and Automation 360, a product of Automation Anywhere, a leading RPA vendor. This alliance is aimed at promoting the implementation of intelligent automation services among organisations globally. Such collaborations by technology companies are expected to aid the market growth in the forecast period.
Key Industry Players in the Global Robotic Process Automation Market
The report gives a detailed analysis of the following key players in the global robotic process automation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Automation Anywhere Inc.
- Blue Prism Limited
- EdgeVerve Systems Limited
- IBM Corporation
- Pegasystems Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Model |
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| Breakup by Organization Size |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global robotic process automation market attained a value of nearly USD 5.66 billion.
The market is projected to grow at a CAGR of 36.3% between 2024 and 2032.
The major drivers of the market include the increased demand for automation of routine business operations, rising adoption of robotic process automation in major market verticals, improved data processing, accuracy in data outputs, and the increased initiatives by various governments.
The key trends of the market include increasing technological innovations and the rapid adoption of automated solutions in various large and small and medium-sized enterprises (SMEs).
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components of the robotic process automation available in the market include software and service.
The major deployment models include on-premises and cloud.
The organisation sizes include large enterprises and small and medium-sized enterprises.
The major industry verticals include BFSI, manufacturing, healthcare, IT and telecommunications, and retail, among others.
The key players in the global robotic process automation market are Automation Anywhere, Inc., Blue Prism Limited, EdgeVerve Systems Limited, IBM Corporation, and Pegasystems Inc., among others.
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