Press release
Robotic Process Automation (RPA) Market to Reach USD 47667 Billion by 2032 with a CAGR of 39.9%: Report
Robotic Process Automation (RPA) Market
The rising demand for digital transformation in various industries is another factor driving the expansion of the Robotic Process Automation (RPA) market revenue. By implementing digital technologies to streamline operations, enhance customer satisfaction, and gain a competitive edge, businesses are adopting RPA technology to automate manual and repetitive operations, enabling enterprises to concentrate on higher-value activities.
Furthermore, the increasing use of cloud computing and Artificial Intelligence (AI) technologies is also contributing to the growth of the RPA market revenue. RPA systems can be deployed on-premises or on the cloud, with the latter becoming more popular due to its scalability and affordability. Moreover, RPA solutions are being integrated with AI technologies such as Machine Learning (ML) and Natural Language Processing (NLP) to enable more intelligent automation of activities.
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Segments Covered in the Report
The global Robotic Process Automation (RPA) market can be classified into two categories: software and services. RPA software allows businesses to automate routine, rule-based operations, while RPA services assist companies in implementing and maintaining RPA solutions. The market for RPA software and services is expected to experience significant growth over the forecast period.
The RPA market can also be segmented by organization size. Small and medium-sized enterprises (SMEs) and large enterprises are the two categories. SMEs are expected to show significant growth in the RPA market due to the high demand for automation solutions to streamline their operations and reduce costs.
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Strategic development:
UiPath Inc. announced a strategic partnership with Deloitte in January 2022 to assist businesses in accelerating their digital transformation by implementing RPA solutions. This collaboration aims to combine Deloitte's industry expertise with UiPath's advanced RPA capabilities to optimize business operations and promote growth.
In August 2020, Blue Prism and IBM Corporation formed a strategic partnership with the goal of automating business processes and improving efficiency. The partnership leverages IBM's advanced analytics and AI expertise to enhance Blue Prism's RPA platform and provide businesses with more advanced automation capabilities.
In January 2021, Automation Anywhere launched a new version of its RPA platform, Automation Anywhere Enterprise A2019. The upgraded version includes improved security, governance, and analytics capabilities, making it a comprehensive and efficient automation solution for businesses.
Blue Prism also launched a new version of its RPA platform, Blue Prism V6.8, in 2020. This latest version includes new features like an enhanced user interface and improved analytics capabilities, which help businesses optimize their operations and drive growth more effectively.
Lastly, Uipath launched a new version of its RPA platform, Uipath 20.10, in 2020. The upgraded version features enhanced AI capabilities and improved integration with Microsoft Office and other widely used business applications, providing businesses with more efficient and intelligent automation solutions.
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Competitive Landscape:
Automation Anywhere Inc.
Blue Prism
IBM Corporation
IPsoft Inc.
Kofax Inc.
Nice Systems Ltd.
Pegasystems Inc.
Redwood Software
Uipath Inc.
WorkFusion Inc.
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