SAN FRANCISCO, March 7, 2023 /PRNewswire/ — The global robotic process automation market size is anticipated to reach USD 30,850.0 million by 2030 and expand at a CAGR of 39.9% from 2023 to 2030, according to a new Grand View Research Inc. The rise in demand for lower operating costs is among the major accelerating factors for the growth of the robotic process automation market.
Key Industry Insights & Findings from the report:
- The service segment dominated the market in 2022 and is estimated to continue dominance with the increasing demand to achieve continuous high-volume tasks by outsourcing RPA.
- Cloud deployment is growing at a high CAGR during the forecasting period in the deployment segment. The segment is estimated to grow at a steady pace in the coming years, driven by increasing RPA adoption through the cloud.
- Asia Pacific is anticipated to rise at a healthy CAGR over the forecast period. This growth is attributed to the rising demand for automation in the Business Process Outsourcing (BPO) sector in the region.
- Due to the coronavirus outbreak, top players participating in the market are concentrated on introducing solutions and services with the latest technologies. In May 2022, UiPath launched Automation Cloud Robots, which offers businesses comprehensive automation for achieving accurate outcomes and fast.
Read 100-page market research report, “Robotic Process Automation Market Size, Share & Trends Analysis Report By Type, By Application, By Deployment, By Organization, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Robotic Process Automation Growth & Trends
Furthermore, the ease of tackling complex processes while using RPA with business processes has boosted market growth. Constant improvement and automation have been at the top of the short-term strategic plan for most businesses. Adopting some form of automation within an organization is among the top priorities for firms. Implementing RPA to lower costs, improve compliance and productivity, and increase returns are becoming the top priorities for businesses.
Additionally, RPA technology, on multiple occasions, has proven to reduce the expenses of a full-time offshore worker by half. RPA can reduce labor costs by 25 to 40 % in the IT environment and business processes. Additionally, the software robot is expected to replace two to five full-time employees and their share of work, thereby increasing the efficiency of business processes.
The COVID-19 pandemic has raised the need for employees with digital skills across businesses and has also opened up new space for RPA vendors to capture the market. The positive result of implementing RPA during a recession influenced by the pandemic is also expected to increase the demand for RPA solutions in the market.
Robotic Process Automation Market Segmentation
Grand View Research has segmented the global robotic process automation market based on type, deployment, organization, application, and region:
Robotic Process Automation Market – Type Outlook (Revenue; USD Million, 2018 – 2030)
Robotic Process Automation Market – Deployment Outlook (Revenue; USD Million, 2018 – 2030)
Robotic Process Automation Market – Organization Outlook (Revenue; USD Million, 2018 – 2030)
- Large Enterprises
- Small & Medium Enterprises
Robotic Process Automation Market – Application Outlook (Revenue; USD Million, 2018 – 2030)
- Pharma & Healthcare
- Retail & Consumer Goods
- Information Technology (IT) & Telecom
- Communication and Media & Education
- Logistics and Energy & Utilities
Robotic Process Automation Market – Regional Outlook (Revenue; USD Million, 2018 – 2030)
- North America
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
List of Key Players of Robotic Process Automation Market
- Automation Anywhere
- Blue Prism
- EdgeVerve Systems Ltd.
- FPT Software
- KOFAX, Inc.
- NTT Advanced Technology Corp.
- OnviSource, Inc.
Check out more related studies published by Grand View Research:
- Robotic Process Automation in BFSI Market – The global robotic process automation in BFSI market size is expected to reach USD 1,123.0 million by 2025, and it is anticipated to grow at CAGR of 31.3% from 2019 to 2025, according to a new report by Grand View Research, Inc. The introduction of Digital 2.0 is driving digital transformation in the banking and financial services sector.
- Intelligent Process Automation Market – The global intelligent process automation market size is expected to reach USD 17.5 billion by 2025, registering a CAGR of 16.9% from 2019 to 2025, according to a new report by Grand View Research, Inc. The fast-paced development of Artificial Intelligence (AI) and its implementation is propelling the strategists to realign their business models with modern technologies.
- IT Robotic Automation Market – The global IT robotic automation market is anticipated to witness surging growth owing to the increasing need for a virtual workforce worldwide. Robotic automation enables computer software or machines to mimic tasks performed by humans. Tasks are usually rule-based and require step by step completion. IT robotic automation is achieved through software automation using Robotic Process Automation (RPA) technology.
Browse through Grand View Research’s IT Services & Applications Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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