Farmington, March 03, 2023 (GLOBE NEWSWIRE) -- The Global Robotic Process Automation Market Size Was Valued At USD 1.89 Billion In 2022 And Is Expected To Grow At A Compound Annual Growth Rate (CAGR) Of 38.2% From 2022 To 2030. Robotic Process Automation (RPA) is a new technology that helps automate day-to-day business tasks by using software robots that act like humans to do repetitive tasks across the company. It can be used in telecommunications, shopping, banking, accounting, human resources, healthcare, and IT, among other places. RPA helps businesses handle transactions, trigger reactions, change data, and talk to other digital systems. When RPA is used, it helps improve the customer experience, lower operational risk, improve internal processes, cut costs, and make the business run more efficiently.
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Robotic Process Automation Market Recent Developments:
- In March 2022: SS&C Technologies Holdings, Inc. acquires Blue Prism Group Plc for approximately $1.6 billion. With this acquisition, the company expands its automation services and software capabilities in the healthcare and financial services sectors. The acquisition helps the company develop deep expertise in robotic process automation and intelligent automation product offerings.
- In March 2021: Microsoft rolls out robotic process automation for its Windows 10 users. The company's RPA Power Platform product helps automate repetitive, monotonous tasks performed by humans.
- In November 2020 - Pegasystems, Inc. launched Pega Auto-balancing RPA digital transformation solution. The solution is powered by advanced artificial intelligence technology to optimize workload management without human intervention.
- In December 2019 - Kryon Systems partnered with content services company Naviant to accelerate intelligent robotic automation solutions. The company's software solutions automate and manage Naviant's partner Hyland solutions to provide enhanced customer service.
Robotic Process Automation Market Dynamics:
All over the world, governments are helping industries grow so that their countries can grow as a whole. This has led to the use of different automation and networking parts and technologies to help the industry's structure grow and change. The government is putting most of its attention on the growth of the process and discrete businesses. For example, the government of Singapore has teamed up with groups like the Singapore Food Manufacturing Association (SFMA) and the Food Innovation Resource Center to use the latest automation solutions in the food and food business. These include SCADA, PLC, DCS, robots, and cables. The liquor business. India's manufacturing sector is getting a boost from the government's National Manufacturing Policy (NMP). The Indian government has also taken steps, like the Make in India Policy, to urge manufacturing plants to use automation.
Regional Outlook:
In 2021, 37.26% of the revenue came from North America, and this share is projected to grow steadily over the next five years. This is estimated based on how many government agencies and companies in the area use automation solutions and process management. Also, the use of RPA in small and medium-sized businesses (SMEs) in North America is helping the market grow because more people are becoming aware of how to improve business functions like data entry, accounting/finance, procurement information, record keeping, and a number of HR-related functions. Also, a 2020 study by German business process management company Signavio found that around 1,000 U.S. employees don't want to switch from manual to automated work, which is expected because the market is growing in the country.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 38.2% from 2023 to 2030 |
| Market Size in 2022 | USD 1.89 Billion |
| By Type | Automated Solution, Decision Support and Management Solutions, Interaction Solutions, Other |
| By Applications | Banking, Financial Services and Insurance, Healthcare and Pharmaceuticals, Manufacturing and Logistics, Telecom and IT, Retail and Consumer Goods, Travel, Hospitality and Transportation, Others |
| By Deployment | Cloud, On-Premise |
| By Companies | Nice Systems, Pegasystems, Automation Anywhere, Blue Prism, Ipsoft, Celaton, Redwood Software, Uipath, Verint System, Xerox, Arago Us, IBM, Thoughtonomy, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Robotic Process Automation Market Key Segments Covered:
Top Market Players:
Nice Systems, Pegasystems, Automation Anywhere, Blue Prism, Ipsoft, Celaton, Redwood Software, Uipath, Verint System, Xerox, Arago Us, IBM, Thoughtonomy, and Others.
Robotic Process Automation Market by Types:
- Automated Solution
- Decision Support and Management Solutions
- Interaction Solutions
- Other
Robotic Process Automation Market by Applications:
- Banking
- Financial Services and Insurance
- Healthcare and Pharmaceuticals
- Manufacturing and Logistics
- Telecom and IT
- Retail and Consumer Goods
- Travel
- Hospitality and Transportation
- Others
By Deployment:
- Cloud
- On-Premise
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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