Global Robotic Process Automation Market Size, Trends & Growth Opportunity, By Type (Tools, Service, and Travel Logistics), By Service (Consulting, Implementing,, and Training), By Application (BFSI, Pharmaceutical & Healthcare, Retail & Consumer Goods, I

Global Robotic Process Automation Market Size, Trends & Growth Opportunity, By Type (Tools, Service, and Travel Logistics), By Service (Consulting, Implementing,, and Training), By Application (BFSI, Pharmaceutical & Healthcare, Retail & Consumer Goods, IT & Telecom, Communication and Media & Education, Manufacturing, and Others), By Region and Forecast till 2027.

Global Robotic Process Automation Market

The global Robotic Process Automation market was valued at USD 1.89 billion in 2021 and it is expected to reach at USD 14.21 billion in 2027 at a CAGR of 38.2 % during forecast period 2022-2027.

Robotic Process Automation allows faster implementation, and scaling of the huge volume data resulting in less time consumption and reduced overhead expense of organizations. Ease in business process is the main advantage of robotic process automation. Continuous technological advancements and increase in demand for robotics process automation by organizations will fuel the market growth.

Market Drivers

Increase in demand for automation of redundant tasks in the business process with machine learning and artificial intelligence enhancements is the key driving factor which is expected to boost the global robotic process automation market growth. The integration of technology to automate the repetitive task across various industries has resulted in reduced human error, increased throughput, and accelerated work. Combination of robotic process automation with cognitive technologies like machine learning, speech recognition, NLP (Natural Language Processing) is capable of handling higher-order tasks with AI assistance without human’s decision-making capabilities.

COVID-19 Impact

increase in COVID-19 pandemic will positively contribute the market growth. Due to COVID 19 effect has resulted in inclination towards cost saving by reducing the number of employees involved in performing the task and improvement of work efficiency.

Recent development

In 2022, Fabric, an automation company, and Reply, which offer brands and retailers seamless integration to a single-point solution for a warehouse management system and automated robotic fulfilment. In 2022, a robotic process automation vendor patterned with new robotic process automation tools for process discovery and document processing.

Market Restraints

However, lack of awareness regarding robotic process automation is the major challenging factor which is expected to hinder the global robotic process automation market growth. Also, data insecurity risk hindering the implementation of market in the financial sector will affect the market growth.

Market Segmentation

Global Robotic Process Automation Market is segmented into type such as Tools, Services and Travel Logistics, by service such as Consulting, Implementing, and Training, by deployment such as Cloud, and On-premise, by organization size such as Large Enterprise, and Small and Medium Size Enterprise. Further, market is segmented into application such as BFSI, Pharmaceutical & Healthcare, Retail & Consumer Goods, IT & Telecom, Communication and Media & Education, Manufacturing, and Others.

Also, Global Robotic Process Automation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Ipsoft, Inc., Blue Prism PLC, Automation Anywhere, Pegasystems Inc., Nice Systems Ltd., Celaton Ltd., Redwood Software, Uipath SRL, Verint System Inc., and Xerox Corporation etc.

Market Taxonomy

By Type

• Tools
• Services
• Travel Logistics

By Service

• Consulting
• Implementing
• Training

By Deployment

• Cloud
• On-premise

By Organization Size

• Large Enterprise
• Small and Medium Size Enterprise

By Application

• BFSI
• Pharmaceutical & Healthcare
• Retail & Consumer Goods
• IT & Telecom
• Communication and Media & Education
• Manufacturing
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Robotic Process Automation Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?