Dallas, Texas, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The global robotic process automation technology market is anticipated to increase as a result of the rising demand from businesses for automated technology to handle their complex and unstructured information and fully automate their operations in the coming years. The fusion of RPA technology with artificial intelligence and other technologies is also assisting in broadening the scope of corporate processes. Utilizing such cutting-edge technologies enables autonomous observation of work activities, identification of ideal workflows, and recommendation of a self-regulatory path for organizations.
By 2030, the global robotic process automation technology market is anticipated to grow from $2,078.4 million to $45,982.02 million, with a 36.5% CAGR throughout that time.
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Companies are relying on digital platforms to automate both their back-end and front-end activities. Robotic Process Automation (RPA) is a developing technology across many industries since it has the potential to run enterprises efficiently amid the epidemic. The need for cutting-edge software to automate the process is growing as a result. RPA technology is one of the best tools for increasing productivity when working from home or other remote locations because it enables quick automation of processes in a short amount of time. As a result, it is anticipated to drive the global robotic process automation technology market expansion over the course of the projected period.
These robots are already having a positive impact on the medical and automotive industries. Employees can improve current software programs and automate their work with automation for robotic processes (RPA). One may deal with data as well as simple financial transactions and engage with different digital platforms. Automation of robotic processes is possible with the newest hardware and software. Robots that are smarter and have more advanced skills are being created by the combination of artificial intelligence and machine learning.
Report coverage & details:
| Report Coverage | Details |
| Base Year | 2022 |
| Historical Data | 2020-2021 |
| Market Size in 2030 | $45,982.02 million |
| CAGR | CAGR of 36.5% during 2020-2030 |
| Segment Covered | Type, Application, Operation, End-User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | WorkFusion, Automation Anywhere, UiPath, Blue Prism, NICE Systems, Pegasystems Inc., Kofax Inc., and IBM Corporation |
Within the operating segment of the market, the rule-based segment previously held a greater market share. Rule-based automation enables the effective management and completion of repetitive tasks that do not require the knowledge or intervention of humans. Additionally, rule-based RPA maintains business application operations through the already-existing user interfaces with the aid of pre-defined inputs.
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In 2021, North America accounted for the biggest revenue share, and it is projected that this trend will continue throughout the forecast period. This is assessed based on how widely automation solutions and process management are used by businesses and government organizations in the region. A further factor driving the market expansion is the use of RPA by North American SMEs due to growing awareness about how to improve a variety of corporate operations, including data input, accounting/finance, procurement details, record keeping, and several other HR-related functions.
In June 2021, FPT Software announced a partnership with Sitecore, a U.S.-based developer of digital experience software, to push Sitecore digital marketing solutions to a larger range of businesses in Japan with intelligent automation, low code, and digital/IT transformation. For many Japanese businesses, the cooperation will present new prospects. In addition, FPT Software will have access to Sitecore's business ecosystem, which includes top companies in the fields of public relations, advertising, and IT consulting.
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. RPA Technology Market by Type Overview, 2019-2029 (USD Billion)
• Cloud
• On-Premises
5. RPA Technology Market by Operation Overview, 2019-2029 (USD Billion)
• Knowledge-Based
• Rule-Based
6. RPA Technology Market by Application Overview, 2019-2029 (USD Billion)
• Data Migration & Capture Extraction
• Analysis
• Customer Support
• Administration and reporting
7. RPA Technology Market by End-User Overview, 2019-2029 (USD Billion)
• IT and Telecom
• BFSI
• Healthcare
• Healthcare
• Retail
• Hospitality
• Manufacturing and Logistics Industry
8. RPA Technology Market by Regional Overview, 2019-2029 (USD Billion)
9. Company Profiles
10. Appendix
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About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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