Global Robotic Process Automation (RPA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Robotic Process Automation (RPA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Robotic process automation is an application technology where software with capabilities of artificial intelligence and machine learning are used for handling high volume, repeatable tasks. RPA allows employees to configure and program computer software or a robot to interpret exciting application in the organization for manipulating data, processing transactions and communicating with digital systems.

Market Overview:

The latest research study on the global Robotic Process Automation (RPA) market finds that the global Robotic Process Automation (RPA) market reached a value of USD 4146.81 million in 2022. It’s expected that the market will achieve USD 13571.72 million by 2028, exhibiting a CAGR of 21.85% during the forecast period.

The Asia Pacific region is expected to be the fastest growing market over the forecast period.

The Asia Pacific region is expected to be the fastest growing market over the forecast period. The development of Asian countries and the demand for consumer electronics have forced manufacturers to implement cost-effective technologies in their manufacturing processes. Automation including machine learning, robotics and AI is at the forefront of market growth in the Asia Pacific region. Awareness of automation in the region is also expected to increase. In addition, the growing demand for business process automation solutions from BPO divisions in China and India has contributed to regional growth. However, Indian SMEs are more concerned about data security, and affordability issues pose challenges for RPA vendors. In addition, it turns out that Japanese SMEs lack RPA training when implementing Japanese technology. However, it is expected that increased awareness within the region will promote the growth of the robotic process automation market.

The economic results of RPA implementation are far from guaranteed

As with any automation technology, RPA has the potential to eliminate jobs, which presents a talent management challenge for CIOs. While companies receiving RPA are trying to move many workers to new jobs, Forrester Research estimates that RPA software will threaten the livelihoods of 230 million or more knowledge workers (about 9% of the global workforce).
Installing thousands of bots takes longer, is more complex, and costs more than most organizations want. The platform that interacts with the robot usually changes and it is not always necessary to deploy the necessary flexibility in the robot. In addition, a new regulation requires minor changes to the application form that could delay months of background work for zombies that are nearing completion in the background.
Moreover, the economic results of RPA implementation are far from guaranteed. Although it is possible to automate 30% of tasks for most professions, this does not subtly reduce costs by 30%.

Region Overview:

In global comparison, a significant portion of the revenue was generated in United States (44.66% in 2022).

Company Overview:

UiPath is one of the major players operating in the Robotic Process Automation (RPA) market, holding a share of 16.82% in 2023.

UiPath

UiPath, Inc. develops software. The Company offers robotic, intelligent, and business process automatic, as well as provides claims and accounts payable services. UiPath serves customers worldwide

Automation Anywhere

Automation Anywhere is a developer of robotic process automation software, which employs software bots to complete processes.
Automation Anywhere deliver the world’s most sophisticated Digital Workforce Platform making work more human by automating business processes and liberating people.

Segmentation Overview:

Among different product types, Services segment is anticipated to contribute the largest market share in 2028.

Tools & Software

Robotic process automation (RPA) is allows employees in a company to configure computer software or a “robot” to capture and interpret existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems.
RPA Tools & Software are the software through which you can configure tasks to get automated.

Services

RPA Services refer to RPA Consulting, Automation Design, software installation, update, maintenance, etc.

Application Overview:

In the Robotic Process Automation (RPA) market, 41.52% of the total value was generated through the Banking, Financial Services and Insurance segment by application in 2022.

Key Companies in the global Robotic Process Automation (RPA) market covered in Chapter 3:

AntWorks
Fuji Xerox
Infosys (Edgeverve Systems)
Jacada
Shanghai i-Search Software
IPSoft
BlackLine
ActiveOps
Automation Anywhere
UiPath
Softomotive
Kofax
Laserfiche
Blue Prism Group
NICE Systems
NTT Advanced Technology Corporation
Verint Systems
HelpSystems
Datamatics Global Services
WorkFusion
Pegasystems

In Chapter 4 and Chapter 14.2, on the basis of types, the Robotic Process Automation (RPA) market from 2018 to 2029 is primarily split into:

Tools & Software
Services

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Robotic Process Automation (RPA) market from 2018 to 2029 covers:

Banking, Financial Services and Insurance
Healthcare and Pharmaceuticals
Manufacturing and Logistics
Telecom and IT
Retail and Consumer Goods
Travel, Hospitality, and Transportation
Others (Energy and Utility, Government, and Academics)

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)