Robotic Process Automation Market Expected to cross USD7, 000 Million by 2024

According to a new market report published by BlueWeave Consulting, The Global Robotic Process Automation Market was valued at US$ 1132.7 Mn in 2017 and is expected to expand at a CAGR of 27.1% from 2018 to 2024, reaching US$ 7324.9 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the robotic process automation market in 2017.

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Operational Excellence in the Middle-East is driving the global robotic process automation market
One of the foremost driver due to which the Global Robotic Process Automation Market is gaining traction is considered to be its success in increasing operational excellence in the rapidly developing Middle-East and North Africa (MENA). The regions in line with the global trend have rapidly opened up to embark on the RPA transformation wave. Although in its nascent stage, Robotics process automation has already created significant traction in the GCC region, due to high interest shown by the Middle-East CXOs.

Also, the companies in these regions, allowing software bots handle mundane and low value tasks, employers are finding it easier to upgrade the skill levels of employees there by retaining more local workforce, At present, corporates in the Financial services and Telecom space have started their RPA journey as early adopters. However, entities in other sectors as Oil & Gas, Healthcare, Retail, Real estate, manufacturing and Government sector are expected to join the bandwagon very soon

Scope of the Report
The global Robotic Process Automation market is segmented on the basis of process, Operation, Service, User Size, and Industry. On the basis of process, the market is segmented into Automated Solution, Decision Support & Management, and Interaction Solution. Automated Solution was the largest segment in the global robotic process automation market in 2017, and is estimated to witness the highest growth during 2018-2024. On the Operation basis, the market is segmented into Rule-based and Knowledge based. Rule based segment accounted for the largest segment in the global robotic process automation market in 2017. On the basis of Service, the market is segmented into Professional and Training Support. On the basis of User size, the market is segmented into Large Enterprise and SMEs. On the basis of Industry, the market is segmented into BFSI, Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals, and Others. BFSI was the largest segment in the global robotic process automation market in 2017.

On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East, Africa and Latin America. North America was the largest region in the global robotic process automation market in 2017 and it is estimated to grow over a CAGR of 25% during 2018-2024.

Competitive Dynamics

Companies, such as Nice Systems Limited, Pegasystems Inc., Automation Anywhere Inc., Blue Prism Limited, Celaton Limited, and Redwood Software Inc.are the key players in manufacturing robotic process automation. In terms of product offerings, Nice Systems Limited and Pegasystems Inc. are the major players in the market.

Market Segmentation
• By Process
• By Operation
• By Service
• By User Size
• By Industry

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

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This release was published on openPR.