New York, NY, March 24, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Robotic Process Automation (RPA) Market Size, Share, Trends, & Industry Analysis Report, By Process (Automated Solution, Decision Support & Management Solution, Interaction Solution); By Operation; By Type; By Industry; By Organization Size; By Region: Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global robotic process automation (RPA) market size/share is anticipated to be valued at approximately USD 2,659.13 Million in 2022 and is projected to hit a revenue of around USD 66,079.34 Million By 2032, at a CAGR of around 37.9% between 2023 and 2032.”
What is Robotic Process Automation (RPA)? How Big is Robotic Process Automation (RPA) Market Size & Share?
- Overview
Robotic process automation is a software technology that eases out building, deploying, and handling software robots that reproduce human actions interrelating with digital systems and software. The rapidly rising demand for the robotic process automation (RPA) market can be attributed to its streamlining workflow, which renders firms more profitable, flexible, and receptive. It also plays an important role in employee satisfaction, engagement, and productivity by discarding monotonous tasks from their workdays.
Due to the covid-19 pandemic, businesses globally had to inculcate automated business workflow, which assisted in speeding the growth of robotic process automation during the forecast period. For instance, as per the survey carried out by Blue Prism Limited published a survey report in February 2022 titled “RPA In the APAC Financial Services Sector." As per the report, 21% of India’s financial service firms respondents said their firms adopted RPA during the covid-19 pandemic.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key data covered in the market report
- Access to data statistics provides historical and forecast data which analyses to tell why the market is set to change.
- The report enables us to expect market changes to stay ahead of the competitors.
- Provision of market value data for each segment and sub-segment.
- Indicates the region and segment that is anticipated to witness the fastest growth as well as the domination of the market.
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
Some of the Top Market Players Are:
- Blue Prism Group Plc (UK)
- Celaton Ltd. (UK)
- Kofax Ltd. (U.S.)
- Xerox Corporation (U.S.)
- Verint Systems Inc. (U.S.)
- Automation Anywhere Inc. (U.S.)
- Ipsoft Inc. (U.S.)
- Redwood Software (Netherlands)
- UiPath (U.S.)
- Pegasystems Inc. (U.S.)
- Daythree Business Services Sdn Bhd (Malaysia)
- Kryon Systems (Israel)
- Softomotive (UK)
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Key factors driving market growth
- Emerging technologies such as ML and OCR to push the market
Some of the prominent elements of RPA for which businesses are acquiring RPA involve enhanced productivity, improved performance, amalgamating contemporary technologies, creating higher returns, and shifting business processes covering the enterprise. The robotic process automation (RPA) market size is expanding as RPA technology has evolved over the years and is intended to be more complex during the forecast period as contemporary technologies such as ML, OCR, and analytics are combined with RPA, enabling escalated performance.
The growing demand for the automation of business processes is one of the prominent factors impacting the increasing acceptance of RPA technology. The robotic process automation (RPA) market sales are soaring as businesses select RPA solutions with advanced features combined with fresh technologies such as AI. Companies in the market have been partnering to work towards providing improvised RPA solutions in the market.
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Recent trends influencing the market
- Digital assistants in both personal and professional settings to drive the market
Intelligent bots have become a favorite across data ecosystems, whether it is through RPA, chatbots, or alternative digital assistants. The multitude of tasks that these bots can enact is expanding. With the scope of digital assistants such as Siri and Alexa expanding in both personal and professional settings, many knowledge workers contemplate chatbots to be dated, template-based versions of what bots can execute.
Several government organizations and private companies are funding to generate conversational RPA chatbots for automating their processes. For instance, National Science Foundation (NSF) Organization has generated an RPA bot that automates messages and assists in prompting people about upcoming public meetings.
Segmentation assessment
- The automated solution segment is anticipated to witness the fastest growth
Based on the process, the automated solution segment is anticipated to witness the fastest growth. Robotic process automation (RPA) market demand is on the rise as there is an increase in demand for automation and the escalating requirement for better decision-making proficiencies in firms. Automated solutions that encompass software robots provide firms with an uncomplicated and structured way to automate routine and repetitive tasks.
- Tool based segment accounted for the largest market share
Based on type, the tool-based segment accounted for the largest market share. Robotic process automation (RPA) market trends include of them offering firms a simple and effortless way to automate routine tasks and processes. These solutions are made simple and user-friendly, permitting firms to commence with automation speedily with the least training.
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Robotic Process Automation (RPA) Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 66,079.34 Million |
| Market size value in 2023 | USD 3,661.89 Million |
| Expected CAGR Growth | 37.9% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Blue Prism Group Plc (UK), Celaton Ltd. (UK), Kofax Ltd. (U.S.), Xerox Corporation (U.S.), Verint Systems Inc. (U.S.), Automation Anywhere Inc. (U.S.), Ipsoft, Inc. (U.S.), Redwood Software (Netherlands), UiPath (U.S.), Pegasystems Inc. (U.S.), Daythree Business Services Sdn Bhd (Malaysia), Kryon Systems (Israel), Softomotive (UK). |
| Segments Covered | By Process, By Type, By Operation, By Industry, By Organization Size, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- The strong presence of technology companies to propel the North American market
North America held the largest robotic process automation (RPA) market share due to the strong presence of technology companies, the high acceptance of technology in the region, and the advantageous regulatory environment. Existence of firms seeking to adopt contemporary and inventive solutions to streamline their operations and enhance their performance.
Asia Pacific is anticipated to witness significant growth in the RPA market in the coming years to speedily growing economies in the region, the growing acquisition of technology, and the beneficial regulatory environment for RPA.
Browse the Detail Report “Robotic Process Automation (RPA) Market Size, Share, Trends, & Industry Analysis Report, By Process (Automated Solution, Decision Support & Management Solution, Interaction Solution); By Operation; By Type; By Industry; By Organization Size; By Region: Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/robotic-process-automation-market
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Recent Developments
- In February 2023, Kofax Limited declared the contemporary automation software a policy for Intelligent Automation. The new elements included Total Agility 7.11 and enhanced Intelligent Document Processing, contemporary low code design features, and enhanced DevSecOps capabilities.
Polaris Market Research has segmented the robotic process automation services market report based on component, deployment, application, end-user, and region:
This Report Contains Answers to The Following Questions
- What are the key market trends?
- What are the significant segments operating in the market?
- What are projections of the industry considering capacity, production, and production value?
- How big is the opportunity for the market?
- How much is the market worth?
- Who are the major players operating in the market?
- What will the market size and growth rate be in the forecast period?
By Process Outlook
- Automated Solution
- Decision Support and Management Solution
- Interaction Solution
By Type Outlook
- Tool Based
- Model-Based Application Tools
- Process-Based Application Tools
- Service Based Consulting
- Integration and Development
- Training
By Operation Outlook
- Rule Based
- Knowledge-Based
By Industry Outlook
- IT & Telecom
- Healthcare and Pharma
- BFSI
- Manufacturing
- Logistics
- Retail
- Travel & Hospitality
By Organization Size Outlook
- SMBs
- Large Enterprises
By Region Outlook
- North America (U.S., Canada)
- Europe (Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Singapore, Malaysia, Rest of APAC)
- Latin America (Brazil, Mexico,
- Argentina, Rest of LA)
- Middle East & Africa (Israel, South Africa, Saudi Arabia, UAE, and the Rest of MEA)
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