Robotic Process Automation (RPA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Robotic Process Automation (RPA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Robotic Process Automation Market

The robotic process automation market size was valued at USD 10.01 billion in 2023, and the market is now projected to grow from USD 50.50 billion in 2024 to USD 13.86 billion by 2032, exhibiting a CAGR of 20.3% during the forecast period of 2024-2032.

Due to the notable increase in the use of RPA software and solutions to assist COVID-19 patients visiting physicians, the COVID-19 pandemic is expected to have a favorable effect on the industry. The COVID-19 pandemic has doubled or tripled the need for contact center work for many healthcare professionals. In order to expedite the onboarding of remote contact center employees, a number of these centers are turning to automation. These factors affected the robotic process automation market growth.

Organizations are finding that handling complicated data and information and automating business processes calls for these kinds of solutions more and more. To streamline their corporate operations, major industry participants are integrating cutting-edge technologies including cloud, AI, ML, and cognitive technologies. These AI and cloud-based systems identify tasks, identify the best workflows on their own, and recommend self-regulating routes for companies. Businesses are creating RPA software and solutions based on the cloud and AI. These factors affected the robotic process automation market share.

Whether via chatbots, RPA, or other digital assistants, intelligent bots are gradually proliferating throughout the data ecosystem. These bots are increasingly capable of performing a wider range of jobs. A lot of knowledge workers think chatbots are outdated, template-based versions of what bots can achieve, especially with the rise of digital assistants like Siri and Alexa in both personal and professional settings.

Comprehensive Analysis of Robotic Process Automation Market

The market is split into software and services segments based on component types. The market can be classified as rule-based or knowledge-based based on how it operates. Application-wise, the market is divided into segments for analysis, customer assistance, administration and reporting, data migration and capture extraction, and other areas. The market is divided into segments for retail, the manufacturing and logistics sector, IT and telecom, BFSI, healthcare, hotels, and others (government, education, travel & transportation).

North America is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period and also will continue to hold the largest market share.The region is proliferating in this particular market because autonomous, cutting-edge technologies like artificial intelligence (AI) and machine learning are becoming more and more popular.

Moderate market fragmentation exists. A few market players have been attributing this particular product market growth and share systems overall. Automation Anywhere (U.S.), Blue Prism Group PLC (U.K.), UiPath Inc. (U.S.), Microsoft Corporation (U.S.), and Nice Systems Ltd. (Israel)are some of the major competitors of this particular product market.

In May 2021, A special product was launched by the most known market player of this market. To encourage the use of industrial bots, Automation Anywhere Inc. introduced a cloud-based robotic process automation solution. It is possible to scale, install, and administer Automation Anywhere Inc.'s applications on a server. This particular company has shown an commendable progress during the forecast period which has attributed the market growth.

Segmentation Table

Attribute Details

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 20.3% from 2023 to 2030

Unit Value (USD billion)

Segmentation By Component, By Operation, By Application, By Industry, and By Region

By Component Software

Services

By Operation Rule-Based

Knowledge-Based

By Application Administration and Reporting

Customer Support

Data Migration & Capture Extraction

Analysis

Others (Compliance, Strategy)

By Industry Retail

Manufacturing and Logistics Industry

BFSI

Healthcare

IT and Telecom

Hospitality

Others (Education, Travel & Transportation, Government)

By Region North America (By Component, By Operation, By Application, By Industry, and By Country)

- U.S. (By Application)

- Canada (By Application)

- Mexico (By Application)

South America (By Component, By Operation, By Application, By Industry, and By Country)

- Brazil (By Application)

- Argentina (By Application)

- Rest of South America

Europe (By Component, By Operation, By Application, By Industry, and By Country)

- U.K. (By Application)

- Germany (By Application)

- France (By Application)

- Italy (By Application)

- Spain (By Application)

- Russia (By Application)

- Benelux (By Application)

- Nordics (By Application)

- Rest of Europe

Middle East & Africa (By Component, By Operation, By Application, By Industry, and By Country)

- Turkey (By Application)

- Israel (By Application)

- GCC (By Application)

- South Africa (By Application)

- North Africa (By Application)

- Rest of the Middle East & Africa

Asia Pacific (By Component, By Operation, By Application, By Industry, and By Country)

China (By Application)

Japan (By Application)

India (By Application)

South Korea (By Application)

ASEAN (By Application)

Oceania (By Application)

Rest of Asia Pacific


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