U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Robotic Process Automation Market” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
Rise in innovations in RPA to accommodate changing consumer demands and high adoption of RPA in the BFSI and healthcare sectors are the major factors that drives the growth of the robotic process automation market. In addition to this, the COVID-19 pandemic is disrupting lives of people and affecting performances across all the industries with the rise in demand for automation technology further driving the growth of the market. RPA is being adopted in organizations to mitigate disruption by enabling businesses to maintain customer support, stay connected across the systems and teams, and offer stability in times of uncertainty. However, higher implementation cost of the RPA system due to the integration of high-quality hardware with efficient software control system may hinder the market growth to some extent. On the contrary, digital businesses are expected to create significant revenue growth opportunities for the market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Robotic process automation (RPA) include the use of specialized computer programs or software with machine learning and artificial intelligence (AI) capabilities to automate and standardize high-volume and repeatable business processes tasks. This technology consists of software robots or bots that works across application user interfaces as well as mimics the actions that a human worker would perform, such as logging in & out of applications, open emails & attachments, scrape data from the web, copying & pasting data, extract structured & semi-structured data from documents, and filling out forms. It helps improve customer service in the front offices and reduces efforts in the back offices.
The robotic process automation market is segmented on the basis of component, deployment model, organization size, industry vertical, and region. On the basis of component, it is categorized into software and services. On the basis of deployment model, it is classified into on-premise and cloud. By organization size, it is bifurcated into large enterprises and small & medium sized enterprises. On the basis of industry vertical, it is categorized into manufacturing, BFSI, healthcare & pharmaceuticals, IT & telecommunications, retail & consumer goods, government & defense, energy & utilities, transportation and logistics, and others (travel & hospitality, oil & gas, education, media & entertainment). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
– This study includes the robotic process automation market analysis, trends, and future estimations to determine the imminent investment pockets.
– The report presents information related to key drivers, restraints, and opportunities of the market.
– The robotic process automation market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
– Porter’s five forces analysis illustrates the potency of buyers & suppliers in the robotic process automation market.
KEY MARKET PLAYERS
– Automation Anywhere, Inc.
– Blue Prism
– EdgeVerve Systems Limited
– International Business Machines Corporation
– IPsoft Inc.
– Kofax Inc.
– NICE Ltd.
– Pegasystems Inc.
– UiPath
– WorkFusion, Inc.
KEY MARKET SEGMENTS
BY COMPONENT
– Software
– Services
BY DEPLOYMENT MODEL
– On-Premise
– Cloud
BY ORGANIZATION SIZE
– Large Enterprises
– Small & Medium Sized Enterprises
BY INDUSTRY VERTICAL
– Manufacturing
– Healthcare & Pharmaceuticals
– IT & Telecommunications
– Retail & Consumer Goods
– Government & Defense
– Energy & Utilities
– Transportation & Logistics
– Others
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BY REGION
– North America
o U.S.
o Canada
– Europe
o UK
o Germany
o France
o Rest of Europe
– Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Latin America
o Middle East
o Africa
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