Global Robotic Process Automation Market 2021 Reach Valued At $ 7.64 billion And Grow At A 25.0% CAGR Forecast To 2028 |

Robotic Process Automation Market 2021-2028

New study report " Robotic Process Automation Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview:

The global robotic process automation market size is expected to gain momentum by reaching USD 7.64 billion by 2028 while exhibiting a stellar CAGR of 25.0% between 2021 to 2028. In its report titled “Robotic Process Automation Market,” Fortune Business Insights mentions that the market size stood at USD 1.29 billion in 2020.

Robotic Process Automation (RPA) is an emerging technology across various industries as it has the capability to run businesses smoothly amid the pandemic; companies are relying on digital systems to automate their both back-end and front-end processes. Thus, the demand for advanced software for automating the process is rising. As RPA technology allows quick automation of processes in less time, it is considered one of the finest software to boost work from home and remote location productivity and is expected to boost the market growth during the forecast period.

List of Key Players Profiled in the Report:

Automation Anywhere (California, U.S.)
Blue Prism PLC (Warrington, U.K.)
IPsoft Inc. (New York,U.S.)
Kofax, Inc. (California,U.S.)
Nice Systems Ltd. (Ra'anana, Israel)
NTT Advanced Technology Corporation (Kanagawa, Japan)
Pegasystems, Inc. (Massachusetts,U.S.)
Redwood Software (Houten, Netherlands)
Uipath SRL (New York,U.S.)
OnviSource, Inc. (Texas, U.S.)
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Rapid Digitization and Dependence Upon Technologies to Foster Market Progress:

This market is expected to grow positively during the COVID-19 pandemic because of rapid digitization. The alarming spike in COVID-19 patients has led to the imposition of lockdown, which, in turn, is expected to boost RPA adoption. The software enables industries to operate digitally and satisfy consumers’ demands. It eliminates human labor requirements and enables companies to function efficiently. Rising government initiatives led to the adoption of advanced production machinery and automation processes. The factors are likely to foster the market’s progress.

Competitive Landscape:

Key Players to Focus on New Application Launches to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:

May 2020 – KPMG announced the launch of its RPA solution in Bahrain. With this launch, it aims to help businesses by managing, submitting, and reporting their VAT.
June 2021 – FPT Software made a partnership with WEM to help organizations accelerate their digital transformation.
Market Segmentation:

By deployment, the market is divided into on-premises, cloud. By operation, the market is rule-based, knowledge-based. By application, administration and reporting, customer support, data migration & capture extraction, analysis, and others.

Based on the application, the capture & extraction segment held a market share of 16.4% in 2020. This is because it extracts the essential data that is required for handling queries from the database with less time.

By industry, the market is divided into retail, manufacturing, and logistics industry, BFSI, healthcare, IT and Telecom, hospitality, and others.

Lastly, in terms of geography, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.



Regional Insights:

North America to Dominate Backed by Presence of Prominent Players

North America is expected to remain at the forefront and hold the largest position in the market during the forecast period owing to the increasing adoption of self-regulated technologies and process management solutions by large as well as small and medium enterprises in the region. Moreover, the U.S. government is also encouraging agencies to deploy automated solutions to smoothen their work processes. The region’s market stood at USD 471.3 million in 2020.

Europe is expected to showcase significant robotic process automation market share in upcoming years because the manufacturing companies in the region are adopting automated technology to scale projects and then gradually scale up through their operations. For instance, a report suggests that for RPA experts from the IBA Group, implementation of license-free RPA saves about 50% or more of the RPA budget for small companies and 30% for large companies.

What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.

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Table Of Content:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Market Share Analysis and Matrix, 2020
Key Market Insights and Analysis, By Segments
Continue….

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