Robotic Process Automation (RPA) In Information Technology Global Market Report 2024 - By Demand, Size, Share, Trends, Outlook By 2033

The robotic process automation (RPA) in information technology market size has grown exponentially in recent years. It will grow from $1.13 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 26.5%. The growth in the historic period can be attributed to increased demand for cost efficiency, growing demand for process efficiency, rise of automation in legal processes, increasing demand for workflow optimization, rise of automation in manufacturing processes.

The robotic process automation (RPA) in information technology market size is expected to see exponential growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) 25.7%. The growth in the forecast period can be attributed to increasing adoption of artificial intelligence, rise in remote work culture, rise of automation in entertainment and media, increasing complexity of it environments, growth of automation in transportation and logistics. Major trends in the forecast period include integration of machine learning algorithms, shift towards hyper-automation strategies, adoption of automation in agricultural processes, technological advancements, adoption of automation in financial services.

Market Overview -
Robotic process automation (RPA) in information technology refers to using software bots to simulate human behavior on digital systems, optimizing repetitive operations across departments and applications. Robotic process automation significantly contributes to digital transformation by efficiently automating tedious and repetitive tasks. Organizations can use RPA technology to boost productivity, minimize errors, decrease expenses, and liberate employees to concentrate on strategic and innovative endeavors.

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Remote Work Revolution Fueling The Surge In Robotic Process Automation (RPA) Technology
The rise in remote work culture is expected to propel the growth of the robotic process automation information and technology market going forward. Remote work culture refers to a business environment where employees have the flexibility and capability to perform duties from locations outside of traditional office spaces. Remote work culture is rising due to technological advancements, such as high-speed internet, cloud computing, and collaboration tools, making remote work more feasible and efficient. Robotic process automation (RPA) facilitates a remote work culture by automating repetitive tasks, enabling employees to focus on high-value work regardless of location, and fostering collaboration through digital workflows and real-time access to data and applications. For instance, in February 2023, according to the Office for National Statistics (ONS), a UK-based government agency, 44% of UK workers were working in some form of remote capacity, 16% were full-time remote workers, and 28% were hybrid workers who split their time between office and home-based work. In contrast, in 2022, the number of people working remotely in the UK was 30% of the workforce. Therefore, the rise in remote work culture drives the growth of the robotic process automation information and technology market.

Competitive Landscape -
Major companies operating in the robotic process automation (RPA) in information technology market are International Business Machines Corporation, SAP SE, Tata Consultancy Services, NICE Ltd., Pegasystems Inc., Verint Systems Inc., Automation Anywhere Inc., UiPath Inc., BlackLine Inc., Blue Prism Group PLC, EdgeVerve Systems Limited, HelpSystems LLC, Kofax Inc., Nintex Pty Ltd., Syntellect Inc., WorkFusion Inc., AntWorks Pte. Ltd., ABBYY USA Software House Inc., Jacada Inc., ElectroNeek Robotics Inc., Redwood Software Inc., OpenConnect Systems Inc., AutomationEdge Technologies Inc., Celaton Ltd., AutomationHero Inc., Kryon Systems Ltd

UiPath Launches Next-Gen Automation Cloud Revolutionizing Robotic Process Automation With Cloud Robot
Major companies operating in robotic process automation in the information technology market are developing innovative technologies, such as Next-Gen UiPath automation cloud, to achieve fast and accurate outcomes. The Next-Gen UiPath automation cloud is a technology that provides a comprehensive automation foundation for businesses, allowing them to evolve more efficiently, faster, and more straightforwardly digitally. For instance, in May 2022, UiPath, a US-based software company that makes robotic process automation software, launched the Next-Gen UiPath Automation Cloud. This release by UiPath introduces Automation Cloud Robots and new platform offerings that aim to simplify automation processes, enhance security, and expand access to automation tools for businesses. Automation cloud robots are software-as-a-service (SaaS) robots hosted in the UiPath automation cloud, allowing instant deployment of unattended robots without IT resources or infrastructure.

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Key Segments -
The robotic process automation (RPA) in information technology market covered in this report is segmented -
1) By Tool: Model-Based Application, Process Based Application
2) By Technology: Back Office Data-Driven Process, Voice Recognition, Digital Detection, Remote Infrastructure Management, Interactive Voice Response (IVR) Systems, Internet Retailers And Services Provider
3) By Service Type: Professional Services, Training Services

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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