Robotic Process Automation Market Size to Expand at a CAGR of 29.5% during 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Robotic Process Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global robotic process automation market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights
How big is the robotic process automation market?

The global robotic process automation market size reached US$ 3.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.8 Billion by 2028, exhibiting a growth rate (CAGR) of 29.5% during 2023-2028.

What is robotic process automation?

Robotic process automation (RPA) is an innovative software technology designed to create, deploy, and manage software robots. These robots are capable of performing tasks such as data manipulation, data transfer between applications, initiating responses, and executing transactions. By automating repetitive tasks, RPA streamlines workflows, leading to increased employee satisfaction, engagement, and productivity. The adoption of RPA brings several advantages, including improved resilience, enhanced accuracy, accelerated transformation, strengthened compliance, and increased overall productivity. Furthermore, RPA is scalable, requiring minimal investment while providing a substantial return on investment (ROI).

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What are the growth prospects and trends in the robotic process automation?

The global RPA market is primarily driven by shifting consumer preferences towards remote working in response to government regulations related to COVID-19. This shift enables businesses to continue their operations while preventing the spread of the pandemic. Additionally, leading players in the industry are integrating RPA with advanced technologies like machine learning (ML), which contributes to the market's growth.

Furthermore, key manufacturers are leveraging artificial intelligence (AI) to handle cognitive processes that involve tasks such as visualizing screens, understanding speech, engaging in conversations and chats, and comprehending documents. These advancements are expected to fuel the growth of the RPA market throughout the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

Software
Services

Breakup by Operation:

Rule-based
Knowledge-based

Breakup by Deployment Model:

On-premises
Cloud-based

Breakup by Organization Size:

Large Enterprises
Small and Medium Sized Enterprises

Breakup by End User:

BFSI
Healthcare and Pharmaceuticals
Retail and Consumer Goods
IT and Telecommunication
Government and Defense
Transportation and Logistics
Energy and Utilities
Others

Breakup by Geography:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?
The report covers the major market players including:

Amelia US LLC
Automation Anywhere Inc.
AutomationEdge
Blue Prism Group PLC
Infosys Limited
International Business Machines Corporation
Kofax Inc.
NICE Ltd.
Pegasystems Inc.
UiPath
Verint Systems
WorkFusion Inc

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