RPA in Insurance Market Is Expected to Reach $1.2 Billion by 2031

According to the report published by Allied Market Research, the global RPA in insurance market was estimated at $98.6 million in 2021 and is expected to hit $1.2 billion by 2031, registering a CAGR of 28.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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The global RPA in insurance market is analyzed across Component, Deployment Mode, Enterprise Size, Application, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By component, the solution segment contributed to more than two-thirds of the global RPA in insurance market share in 2021, and is projected to rule the roost by 2031. The service segment, on the other hand, would display the fastest CAGR of 30.7% throughout the forecast period.

By deployment mode, the on-premise segment accounted for the highest share in 2021, generating around three-fifths of the global RPA in insurance market revenue. The cloud segment, however, would portray the fastest CAGR of 31.6% during the forecast period.

By enterprise size, the large enterprise segment held the highest share in 2021, garnering around two-thirds of the global RPA in insurance market revenue. The small and medium-sized enterprises segment, however, would portray the fastest CAGR of 30.4% during the forecast period.

By application, the claims processing segment held nearly two-fifths of the global RPA in insurance market share in 2021, and is anticipated to retain its dominance from 2022 to 2031. The regulatory compliance segment, simultaneously, would display the fastest CAGR of 33.4% during the forecast period.

By region, North America held the major share in 2021, garnering nearly two-fifths of the global global RPA in insurance market revenue. Asia-Pacific, at the same time, would showcase the fastest CAGR of 32.4% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.

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The key market players analyzed in the global RPA in insurance market report include Automation Anywhere, Inc., Dynpro, Fidel Technologies, Vuram, Aspire Systems, Opteamix, Pegasystems, Inc., Royal Cyber Inc., UiPath, and Infosys Limited. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

Key benefits for stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the RPA in insurance market forecast from 2022 to 2031 to identify the prevailing RPA in insurance market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the RPA in insurance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global RPA in insurance market trends, key players, market segments, application areas, and market growth strategies.

RPA in Insurance Market Report Highlights

Component

Solution
Service
Deployment Mode

On-Premise
Cloud
Enterprise Size

Large Enterprise
Small and Medium-sized Enterprises
Application

Claims Processing
Insurance Underwriting
Regulatory Compliance
Finance and Accounts
Others

By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players: Fidel Technologies, Infosys Limited, Vuram, Opteamix, Automation Anywhere, Inc., Aspire Systems, Dynpro, Royal Cyber Inc., Pegasystems, Inc., UiPath

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