According to the latest report by IMARC Group “Global Robotic Process Automation Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global robotic process automation market size reached a value of US$ 2.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2027, exhibiting a CAGR of 30.08% during 2022-2027.
Robotic process automation (RPA) represents an advanced software technology that builds, deploys, and manages software robots. It assists in manipulating data, passing data from various applications, triggering responses, or executing transactions. Robotic process automation also aids in streamlining workflows and increasing employee satisfaction, engagement, and productivity by eliminating repetitive tasks from their workdays. Besides this, it offers numerous benefits, such as greater resilience, higher accuracy, accelerated transformation, enhanced compliance, improved productivity, etc. Robotic process automation is also scalable, requires minimal investment, and provides a significant return on investment (ROI).
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Market Trends:
Shifting consumer preferences towards remote working to comply with government regulations regarding COVID-19, continue business operations, and prevent the spread of the pandemic, are primarily driving the global RPA market. Besides this, various leading players are integrating RPA with advanced technologies, such as machine learning (ML),which is further augmenting the market growth. Additionally, numerous key manufacturers are utilizing artificial intelligence (AI) to handle cognitive processes that require skills, including visualizing screens, comprehending speech, carrying on conversations and chats, understanding documents, etc. This, in turn, will continue to propel the RPA market over the forecasted period.
Breakup by Component:
- Software
- Services
- Rule-based
- Knowledge-based
- On-premises
- Cloud-based
- Large Enterprises
- Small and Medium Sized Enterprises
- BFSI
- Healthcare and Pharmaceuticals
- Retail and Consumer Goods
- IT and Telecommunication
- Government and Defense
- Transportation and Logistics
- Energy and Utilities
- Others
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
- Amelia US LLC
- Automation Anywhere Inc.
- AutomationEdge
- Blue Prism Group PLC
- Infosys Limited
- International Business Machines Corporation
- Kofax Inc.
- NICE Ltd.
- Pegasystems Inc.
- UiPath, Verint Systems
- WorkFusion Inc.
