Robotic Process Automation Market Revenue to Cross $45,982 Million by 2030, says P&S Intelligence
Nov 25, 2021
NEW YORK, Nov. 25, 2021 /PRNewswire/ — The global robotic process automation market value is expected to surge from $2,078.3 million in 2020 to $45,982.0 million by 2030, at a 36.3% CAGR between 2020 and 2030. The major factor propelling the market growth is the ability of robotic process automation (RPA) to provide a higher efficiency, improved customer experience, and greater ease in managing business operations. Additionally, the surging need for virtual workforces is supporting the expansion of the market.
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The COVID-19 pandemic has positively impacted the robotic process automation market as several industries, such as financial services and healthcare, and the public sector are adopting RPA for assisting people in dealing with the health and financial challenges. For example, the RPA team at the General Services Administration recently developed a national COVID-19 bot for accelerating the infection count data collection process in counties where it is tasked with the management of federal buildings. Furthermore, many major RPA vendors have donated resources and licenses to organizations leading the fight against the pandemic.
Key Findings of Robotic Process Automation Market Report
- The rule-based category held the larger share in the market in the past, within the operation segment. Rule-based automation allows for the efficient management and completion of the repeatable operations that do not need human expertise or intervention. In addition, rule-based RPA manages the operation of business applications via the existing user interfaces, with the help of pre-defined inputs.
- The retail and consumer goods category is expected to demonstrate the highest growth rate in the market in the upcoming years, under the vertical segment. RPA solutions enable easier integration of information, which allows retail and consumer goods companies to focus more on providing improved customer services.
- Geographically, North America contributed the highest revenue to the robotic process automation market in the past, and the situation will remain unchanged in the years to come owing to the presence of a well-developed information technology (IT) sector and growing adoption of advanced technologies in the region.
- Asia-Pacific (APAC) is expected to be the fastest-growing market in the future because of the soaring investments in the IT infrastructure and growing public awareness about automation in the region.
- The players operating in the industry are focusing on product launches and partnerships to gain an edge over their rivals.
- Automation Anywhere Inc. announced the launch of artificial intelligence (AI)-powered bots, called Payroll Protection Program (PPP) bots, in April 2020 for helping banks automate loan applications for small organizations, under the $2.2-trillion COVID stimulus package of the U.S. government.
Browse detailed report on Robotic Process Automation Market Size and Growth Forecast to 2030
NICE Ltd., Blue Prism Limited, Pegasystems Inc., Redwood International Business Group B.V., Automation Anywhere Inc., Xerox Corporation, Celaton Ltd., WorkFusion Inc., IPsoft Incorporated, Kryon System Ltd., IBM Corporation, UiPath Inc., and Kofax Inc. are some of the leading players in the robotic process automation market.
Robotic Process Automation Market Size Breakdown by Segments
Robotic Process Automation Market Based on Process
- Automated Solution
- Decision Support and Management
- Interaction Solution
Robotic Process Automation Market Based on Operation
Robotic Process Automation Market Based on Offering
Robotic Process Automation Market Based on Organization
- Large Enterprises
- Small- and Medium-Sized Enterprises (SMEs)
Robotic Process Automation Market Based on Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Telecom and IT
- Retail and Consumer Goods
- Healthcare and Pharmaceuticals
- North America
- Latin America
- Middle East and Africa
- Saudi Arabia
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
SOURCE P&S Intelligence