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Robotic Process Automation Market to Expand at a Healthy CAGR of 33% through 2029
Robotic Process Automation Market
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Global Robot Process Automation Market: In-Depth Assessment on Key Segments
The global robot process automation market is segmented on the basis of type, service, organization, deployment, application and region.
Type
Software
Service
Service
Consulting
Implementation
Training
Organization
SMEs
Large Enterprises
Deployment
Cloud
On-Premise
Application
BFSI
Manufacturing
Pharma & Healthcare
Retail
Telecom & IT
Others
Region
North America
Latin America
East Asia
South Asia & Oceania
Middle East & Africa
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Market Insights of Robotic Process Automation.
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Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.
The Market survey of Robotic Process Automation offers a comprehensive analysis of diverse features, including production capacities analysis of Robotic Process Automation, demand, product developments, revenue generation, and Size of Robotic Process Automation Market across the globe.
Market Players Focus on Workflow Optimization
Market players can garner sustainable revenue streams by decreasing onboarding time and resolving scaling issues.
Organizations need to focus on reducing the friction surrounding robotic process automation by eliminating time consumption, and transforming effort-intensive processes.
RPA vendor selection criteria is moving towards products that offer detailed assessment of their ability to integrate, scale, and provide security and enterprise levels governance of manufacturing processes.
Measuring the effect of robotic process automation will act as a crucial factor for sustainable revenues during the forecast period.
Major players in the market that influence the competitive landscape are, but not limited to
UiPath
Automation Anywhere Inc.
NICE
Blue Prism
Pegasystems
Kofax
NTT Advanced Technology Corporation
Genpact Ltd
EdgeVerve
IPsoft Inc.
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Key Takeaways of Robotic Process Automation Market Study
Service product types hold the leading market share of more than 58% of the total value. Enterprise organizations are looking for end-to-end services that ensure organization wide deployment of robotic process automation initiatives.
Robotic process automation based on smart software meets the demands of small and medium enterprises. On the back of suitability and flexibility of deployment, the software segment will grow at an astounding 35% CAGR from 2019 to 2029.
Consulting service segment will grow thirteen-folds during the forecast period. This can be attributed to the growing need for customized robotic process automation from companies.
In terms of target clients, large enterprises hold a majority market value share on the back of increasing need of these organizations to expand their global footprint in highly competitive environments.
North America maintains share-wide leadership with more than 1/2 of the total market value. Early adopters are at the forefront of robotic process automation owing to the increasing demand from consumers for precision product manufacturing.
Banking, Financial Services & Insurance is the leading application segment for robotic process automation with over 1/4th of the total market value. This can be attributed to surging application of artificial intelligence and big data analytics in evaluating consumer candidature for financial services.
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