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Robotic Process Automation (RPA) Market: 2019 Global & Regional Research by Demand, Size, Share, Trend, Types, Application, Technology and Innovation Analysis and 2026 Industry Opportunities Forecast Report
Robotic Process Automation (RPA) market size is anticipated to reach USD 8,781.2 million by 2026 growing at a CAGR of 29.5%. Requirement of businesses to eliminate human errors due to manual interference in processes along with reduction in time consumption are factors responsible for positively influencing the adoption rate of RPA technology.Previously artificial intelligence and robotic process automation were largely considered to be different technologies. But, with advancements in the offerings it is observed these technologies are complimenting each other in terms of handling processes. It enables organizations in processing huge volumes of data and in providing support for better decision making. Cognitive computing which covers wide array of areas including adaptive learning, speech recognition, and pattern identification is integrated in robotic process automation (RPA) solutions to transform and automate crucial business processes of organizations across multiple industry verticals.
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The potential of achieving robust ROI from deployment of RPA completely dependent on the organizational requirements and business processes which are to be automated. In the near future, the market is expected to witness growing base of RPA vendors as they target to gain revenue share from this expanding market. This is expected through introduction of solutions which will cater to the rising need to automate business process management processes. Furthermore, the adoption is expected to intensify as the prices of RPA deployment are continually witnessing a declining trend. Moreover, this technology adoption provides organizations the capability to accomplish better outcomes from their process with benefits including reduction in costs, improved accuracy, and better compliance.
Robotic Process Automation Market by Process Outlook (Revenue, USD Million, 2015 - 2026)
Automated Solution
Decision Support and Management Solution
Interaction Solution
Robotic Process Automation Market by Operation Outlook (Revenue, USD Million, 2015 - 2026)
Rule Based
Knowledge Based
Robotic Process Automation Market by Type Outlook (Revenue, USD Million, 2015 - 2026)
Tool Based
Model-Based Application Tools
Process-Based Application Tools
Service Based
Consulting
Integration and Development
Training
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However, factors like reluctance in the transition phase from conventional business process to automation along with shortage in technical expertise required during deployment and integration of RPA solution are challenges which might affect the growth in this market. roThis market report includes insights with market size and forecast by process, by operation, by type, by industry, and by organization size. Analysis for each region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) is provided for all segmentation of the robotic process automation market research report.
North America is expected to be largest regional market while Asia Pacific regional market is expected to witness significant growth during the forecast period of 2018 to 2026. The region’s leading position is attributed to significant demand and preference of the BFSI industry vertical towards automation of business processes. Furthermore, presence of established and major players in North America region and availability of infrastructure for effective adoption of RPA is another factor responsible for the boost in adoption of robotic process automation solutions.
European region is expected to witness growth in this market as the region has a presence of significant amount of companies in the manufacturing and logistics sector. Adoption of RPA technology provides the capability to streamline pickup and drop operations. This eventually leads to reduction in cycle time ultimately resulting in enhanced customer experience.
Robotic Process Automation Market by Industry Outlook (Revenue, USD Million, 2015 - 2026)
IT & Telecom
Healthcare and Pharma
BFSI
Manufacturing
Logistics
Retail
Travel & Hospitality
Others
Robotic Process Automation Market by Organization Size Outlook (Revenue, USD Million, 2015 - 2026)
Small and Medium Sized Businesses (SMBs)
Large Enterprises
Robotic Process Automation by Region Size Outlook (Revenue, USD Million, 2015 - 2026)
North America (U.S., Canada)
Europe (Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Middle East and Africa (Israel, South Africa, Saudi Arabia, UAE, Rest of MEA)
Table of Contents for Robotic Process Automation (RPA) Market Research Report
Chapter One: Overview and Scope
Chapter Two: Executive Summary
Chapter Three: Robotic Process Automation Market Insights
Chapter Four: Robotic Process Automation Market Size and Forecast by Process, 2018-2026
Chapter Five: Robotic Process Automation Market Size and Forecast by Operation, 2018-2026
Chapter Six: Robotic Process Automation Market Size and Forecast by Type, 2018-2026
Chapter Seven: Robotic Process Automation Market Size and Forecast by Industry, 2018-2026
Chapter Eight: Robotic Process Automation Market Size and Forecast by Organization Size, 2018-2026
Chapter Nine: Robotic Process Automation Market Size and Forecast by Region, 2018-2026
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