Dublin, Jan. 20, 2022 (GLOBE NEWSWIRE) -- The "Robotic Process Automation Market Research Report - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global robotic process automation market value is expected to surge from $2,078.3 million in 2020 to $45,982.0 million by 2030, at a 36.3% CAGR between 2020 and 2030.
The major factor propelling the market growth is the ability of robotic process automation (RPA) to provide a higher efficiency, improved customer experience, and greater ease in managing business operations. Additionally, the surging need for virtual workforces is supporting the expansion of the market.
The COVID-19 pandemic has positively impacted the robotic process automation market as several industries, such as financial services and healthcare, and the public sector are adopting RPA for assisting people in dealing with the health and financial challenges.
For example, the RPA team at the General Services Administration recently developed a national COVID-19 bot for accelerating the infection count data collection process in counties where it is tasked with the management of federal buildings. Furthermore, many major RPA vendors have donated resources and licenses to organizations leading the fight against the pandemic.
The rule-based category held the larger share in the market in the past, within the operation segment. Rule-based automation allows for the efficient management and completion of the repeatable operations that do not need human expertise or intervention. In addition, rule-based RPA manages the operation of business applications via the existing user interfaces, with the help of pre-defined inputs.
The retail and consumer goods category is expected to demonstrate the highest growth rate in the market in the upcoming years, under the vertical segment. RPA solutions enable easier integration of information, which allows retail and consumer goods companies to focus more on providing improved customer services.
Geographically, North America contributed the highest revenue to the robotic process automation market in the past, and the situation will remain unchanged in the years to come owing to the presence of a well-developed information technology (IT) sector and growing adoption of advanced technologies in the region.
Asia-Pacific (APAC) is expected to be the fastest-growing market in the future because of the soaring investments in the IT infrastructure and growing public awareness about automation in the region.
Market Dynamics
Trends
- Advancements In and Integration of Ai In RPA
- Partnerships Among Software Vendors and Service Providers
- Investments In Emerging RPA Companies and Startups
Drivers
- Surge In Demand For Virtual Workforces
- Increased Work Efficiency Offered by RPA
- Need For Enhanced Customer Experience
- Impact Analysis of Drivers On Market Forecast
Restraints
- High Risk of Business Failure and Constant Changes In Automation Technology Landscape
- Lack of Technical Knowhow In Workforce
- Impact Analysis of Restraints On Market Forecast
Opportunities
- Adoption of RPA In Healthcare Industry
- Process-Based Business Approach In Organizations
Impact of COVID-19 On RPA Market
Porter's Five Forces Analysis
Some of the leading players in the robotic process automation market are
- NICE Ltd.
- Pegasystems Inc.
- Automation Anywhere Inc.
- Blue Prism Limited
- Celaton Ltd.
- Redwood International Business Group B.V.
- IPsoft Incorporated
- UiPath Inc.
- Xerox Corporation
- IBM Corporation
- Kofax Inc.
- Kryon System Ltd.
- WorkFusion Inc.
Definition of Market Segments
By Process
- Automated Solution
- Decision Support and Management
- Interaction Solution
By Operation
- Rule-Based
- Knowledge-Based
By Offering
- Service
- Professional
- Implementation
- Training
- Software
By Organization
- Large Enterprises
- SMEs
By Vertical
- BFSI
- Telecom and It
- Retail and Consumer Goods
- Manufacturing
- Healthcare and Pharmaceuticals
For more information about this report visit https://www.researchandmarkets.com/r/n9q1zg
