Press release
Robotic Process Automation Market is expected to reach significant size, share, and trends by 2030.
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The report highlights that the global RPA market is set to expand significantly, reaching $35.9 billion by 2030, with a robust compound annual growth rate (CAGR) of 20.2% from 2023 to 2030. This growth trajectory is fueled by the escalating demand for automation in business processes, increasing adoption of cutting-edge technologies such as cloud computing, artificial intelligence (AI), and machine learning, as well as a rising need for RPA solutions within the Banking, Financial Services, and Insurance (BFSI) sector. Despite this positive outlook, the high costs associated with implementing RPA solutions present a challenge that could temper market expansion.
Key findings from the report include:
1. Market Segmentation and Growth Drivers
o Offering: The RPA market is divided into software and services. The software segment is anticipated to dominate in 2023 due to the escalating demand for automation and the integration of advanced technologies. The services segment is expected to experience the highest CAGR, driven by increased demand for consulting, training, and implementation services across various sectors, including manufacturing and healthcare.
o Type: The market is segmented into attended RPA, unattended RPA, and hybrid RPA. Attended RPA is projected to hold the largest market share in 2023, owing to its role in enhancing productivity and efficiency in business operations. It is also expected to register the highest CAGR due to rising demand in sectors such as business process outsourcing (BPO) and data management.
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o Deployment Mode: The RPA market is categorized into on-premise and cloud-based deployments. The on-premise segment is expected to lead the market in 2023, favored for its control and security benefits. However, the cloud-based segment is poised for the highest growth rate, thanks to its flexibility and increasing adoption by small and medium-sized enterprises (SMEs).
o Organization Size: Large enterprises are forecasted to hold the largest share in 2023 due to their robust IT infrastructure and technological capabilities. Conversely, SMEs are anticipated to experience the highest growth rate, driven by affordability and scalability of RPA solutions.
o Application: The RPA market applications include administration and reporting, customer account management, employee onboarding, and more. Customer account management is expected to capture the largest market share in 2023, with significant growth attributed to its adoption in the BFSI sector and the surge in virtual banking tools.
o Sector: The BFSI sector is projected to lead the market in 2023, influenced by the increasing need for fraud detection and process efficiency. The healthcare sector, however, is expected to achieve the highest CAGR, driven by its adoption in appointment scheduling, billing processes, and patient onboarding.
2. Regional Insights
o North America: Expected to dominate the RPA market in 2023, North America's leadership is bolstered by the presence of major RPA solution providers and high adoption rates across BFSI, retail, and IT sectors. The region's strong technological infrastructure and demand for advanced RPA solutions further enhance its market position.
o Asia-Pacific: Projected to exhibit the highest growth rate, Asia-Pacific's rapid market expansion is driven by economic growth and increasing investments in the retail and BFSI sectors, particularly in China, Japan, South Korea, and India.
Key Players:
The key players operating in the robotic process automation market are UiPath, Inc. (U.S.), Automation Anywhere, Inc. (U.S.), Pegasystems Inc. (U.S.), Blue Prism Group plc (U.K.), Celaton Limited (U.K.), OnviSource, Inc. (U.S.), Kofax Inc. (U.S.), FPT Software Company Limited (Vietnam), EdgeVerve Systems Limited (India), NICE Ltd. (Israel), IBM Corporation (U.S.), Verint Systems Inc. (U.S.), AutomationEdge Technologies, Inc. (U.S.), Appian Corporation (U.S.), and EPSoft Technologies (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/robotic-process-automation-market-5282
Key Questions Answered in the Report:
• Which are the high-growth market segments in terms of offering, type, organization size, deployment mode, application, and sector?
• What is the historical market size for robotic process automation across the globe?
• What are the market forecasts and estimates for 2023-2030?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global robotic process automation market?
• Who are the major players in the global robotic process automation market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global robotic process automation market?
• What are the different strategies adopted by major market players?
• What are the geographic trends and high-growth countries?
• Who are the local emerging players in the global robotic process automation market, and how do they compete with other players?
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