Global Robotic Process Automation Market was valued US$ 420.5 Mn in 2019 and is expected to reach US$ 4000.2 Mn by 2027, at a CAGR of 32.52% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Expansion of the robotic process automation market is driven by factors like consolidation of robotic process automation with traditional business processes and ease in business processes due to installation of robotic process automation.Additionally, The global robotic process automation market is expected to provide opportunities like integration of robotic process automation with new and upcoming technologies, increasing demand for robotic process automation in the logistics industry, and rising implementation of automation processes in the BPO sector, robotic process automation with the help of voice recognition software, can retrieve information and structure basic content that is required to answer customer queries.
However, data security risk in the financial sector, lack of awareness regarding RPA, and less potential for RPA in business processes which are knowledge based these are some of the restrains in the robotic process automation market
The robotic process automation market is segmented by Industry, Telecommunications and BFSI cumulatively in the robotic process automation market have acquired the biggest share of almost one-fourth in 2017, followed by Transportation & logistics and healthcare. Telecommunications, particularly the BPOs are the early adopters of robotic process automation. The rise in the demand for the global network the telecom industry is facing many challenges in providing the advanced services to its customers. The issues faced by various companies are handling a huge data, developing new and advanced services, controlling cost, and focusing on business efficiency; which may hamper the company’s operation, profitability, and focus on the customer.
Companies are aiming to capture & solidify their share of the market segment, by challenging and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process enhancements and financial flexibility to invest in the optimal strategies. Effective planning is essential in terms of business development so as to gain maximum returns on investment.
Geographically, North America region accounted for largest share in 2017 in robotic process automation market because of high development in field of technology and presence of developed countries. Europe is one of the prominent player in the market of robotic process automation. Countries such as U.K., Germany and Italy are the major contributors in the market growth due to the rich manufacturing and automotive industry. Asia-Pacific is expected to develop as fastest growing market during the forecast period.
The report will helps key decision makers and marketing authorities to take a comprehensive evaluation of the market. In-depth qualitative insights, the influence of growth of the end-user industries, on the market studied. In-depth analysis of the global robotic process automation market in BFSI and current & future trends to clarify the approaching investment pockets.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Robotic Process Automation Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Robotic Process Automation Market.
Scope of Global Robotic Process Automation Market
Global Robotic Process Automation Market, By Type
• Software
• Services
Global Robotic Process Automation Market, By Process
• Automated Solution
• Decision Support & Management
• Interaction Solution
Global Robotic Process Automation Market, By Operation
• Rule Based
• Knowledge Based
Global Robotic Process Automation Market, By Enterprise Size
• Large Enterprise
• Small and Medium Enterprise
Global Robotic Process Automation Market, By Industry
• BFSI
• Telecom & IT
• Retail and Consumer Goods
• Manufacturing
• Healthcare and Pharmaceuticals
• Others (includes travel, hospitality, transportation and logistics)
Global Robotic Process Automation Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Robotic Process Automation Market
• Automation Anywhere Inc.
• Blue Prism Group Plc
• Be Informed B.V.
• Jacada Inc.
• OpenSpan
• UiPath
• PegasystemsInc
• Celaton Ltd
• Redwood Software
• arago GmbH
• EnableSoft
• Kofax
• Kryon Systems
• Softomotive
• THOUGHTONOMY
• WorkFusion
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