Report Ocean recently released a research report on the Robotic Process Automation (RPA) Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The Robotic Process Automation (RPA) market size is anticipated to reach USD 8,781.2 million by 2026 growing at a CAGR of 29.5%. Requirement of businesses to eliminate human errors due to manual interference in processes along with reduction in time consumption are factors responsible for positively influencing the adoption rate of RPA technology.
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Previously artificial intelligence and robotic process automation were largely considered to be different technologies. But, with advancements in the offerings it is observed these technologies are complimenting each other in terms of handling processes. It enables organizations in processing huge volumes of data and in providing support for better decision making. Cognitive computing which covers wide array of areas including adaptive learning, speech recognition, and pattern identification is integrated in robotic process automation (RPA) solutions to transform and automate crucial business processes of organizations across multiple industry verticals.
The potential of achieving robust ROI from deployment of RPA completely dependent on the organizational requirements and business processes which are to be automated. In the near future, the market is expected to witness growing base of RPA vendors as they target to gain revenue share from this expanding market. This is expected through introduction of solutions which will cater to the rising need to automate business process management processes. Furthermore, the adoption is expected to intensify as the prices of RPA deployment are continually witnessing a declining trend. Moreover, this technology adoption provides organizations the capability to accomplish better outcomes from their process with benefits including reduction in costs, improved accuracy, and better compliance.
However, factors like reluctance in the transition phase from conventional business process to automation along with shortage in technical expertise required during deployment and integration of RPA solution are challenges which might affect the growth in this market. roThis market report includes insights with market size and forecast by process, by operation, by type, by industry, and by organization size. Analysis for each region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) is provided for all segmentation of the robotic process automation market research report.
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North America is expected to be largest regional market while Asia Pacific regional market is expected to witness significant growth during the forecast period of 2018 to 2026. The region’s leading position is attributed to significant demand and preference of the BFSI industry vertical towards automation of business processes. Furthermore, presence of established and major players in North America region and availability of infrastructure for effective adoption of RPA is another factor responsible for the boost in adoption of robotic process automation solutions.
European region is expected to witness growth in this market as the region has a presence of significant amount of companies in the manufacturing and logistics sector. Adoption of RPA technology provides the capability to streamline pickup and drop operations. This eventually leads to reduction in cycle time ultimately resulting in enhanced customer experience.
The major key players operating in the robotic process automation (RPA) market include Blue Prism Group Plc (UK), Celaton Ltd. (UK), Softomotive (UK), Kofax Ltd. (U.S.), Xerox Corporation (U.S.), Automation Anywhere Inc. (U.S.), Ipsoft, Inc. (U.S.), UiPath (U.S.), Verint Systems Inc. (U.S.), Pegasystems Inc. (U.S.), Redwood Software (Netherlands), Daythree Business Services sdn bhd (Malaysia), and Kryon Systems (Israel).
Report Ocean Market Research has segmented the global robotic process automation market on the basis of process, operation, type, industry, organization size, and region:
Robotic Process Automation by Process Outlook (Revenue, USD Million, 2015 – 2026)
Automated Solution
Decision Support and Management Solution
Interaction Solution
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Robotic Process Automation by Operation Outlook (Revenue, USD Million, 2015 – 2026)
Rule Based
Knowledge Based
Robotic Process Automation by Type Outlook (Revenue, USD Million, 2015 – 2026)
Tool Based
Model-Based Application Tools
Process-Based Application Tools
Service Based
Consulting
Integration and Development
Training
Robotic Process Automation by Industry Outlook (Revenue, USD Million, 2015 – 2026)
IT & Telecom
Healthcare and Pharma
BFSI
Manufacturing
Logistics
Retail
Travel & Hospitality
Others
Robotic Process Automation by Organization Size Outlook (Revenue, USD Million, 2015 – 2026)
Small and Medium Sized Businesses (SMBs)
Large Enterprises
Robotic Process Automation by Region Size Outlook (Revenue, USD Million, 2015 – 2026)
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 Asia Pacific
Latin America
Brazil
Mexico
Argentina
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Rest of Latin America
Middle East and Africa
Israel
South Africa
Saudi Arabia
UAE
Rest of MEA
Table of Content
Chapter 1: Global Robotic Process Automation (RPA) Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Robotic Process Automation (RPA) market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Robotic Process Automation (RPA) Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Robotic Process Automation (RPA) market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Robotic Process Automation (RPA) market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Robotic Process Automation (RPA) market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Robotic Process Automation (RPA) market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Robotic Process Automation (RPA) business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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