Robotic Process Automation (RPA) Market
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Robotic Process Automation (RPA) Market Overview
The report is titled as ‘Robotic Process Automation (RPA) Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the Robotic Process Automation (RPA) market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Robotic Process Automation (RPA) market is expected to grow at a significant rate in the near future.
The global Robotic Process Automation (RPA) market is estimated to reach at a value of US$ 1.6 Bn by the end of 2020 and expected to reach at a value of US$ 6.9 Mn by 2028 with a significant CAGR of 19.9%.
Robotic Process Automation (RPA) Introduction
Robotic process automation (RPA), more commonly known as smart automation or intelligent automation, can be perceived as advanced technologies that can be prioritized to accomplish a string of tasks, including triggering responses, data manipulation, and generating crucial communication with other systems and processes, which originally required human intervention. RPA consists of two distinct types - automation of regular office work and automation of modern intelligent processes via mediums such as Artificial Intelligence (AI). To put it in another way, robotic process automation or RPA can be comprehended as the introduction of digital workers in the corporate organization for the purpose to carry out and perform the work that only human workers were formerly considered capable of doing.
In addition to that, the leading players of the global markets are also aiming their attention to improve their offerings, via adding new and advanced attributes, including workload management, credential management, automation lifecycle management, SLA-based automation, and Citrix automation, as well as introducing latest data APIs. These modifications are further projected to attract newer industries that are looking for higher security and operational capabilities.
Robotic Process Automation (RPA) Market Dynamics
The enormous rise in acceptance and adoption of on-premise RPA solutions by organizations across the world that are pursuing to economize costs by turning a huge volume of processes to be automated through robotic process automation or RPA owing to several benefits it has to offer, comprising compliance, improved accuracy, cost-effectiveness, as well as scalability is measurable, which further leaves a positive impact on various financial services such as error reduction and audit savings, is majorly boosting the growth of the global robotic process automation (RPA) market. In addition, businesses and organizations are shifting to RPA solutions in order to have adequate IT support for keeping up with the infrastructure. Such factors positively fuels the demand of RPA in the global market, thus the global market of RPA is projected to grow rapidly in the near future.
Moreover, the rapid emergence and advancements in technologies like machine learning (ML) and artificial intelligence (AI) is also offering numerous growth opportunities for RPA solutions in the years to come, therefore estimated to propel the growth of the global robotic process automation (RPA) market over the forecast period.
In addition to that, subsequent to 1990s, many businesses and firms are increasingly outsourcing their white-collar work to emerging or developing countries across the world, where labor cost is low in order to reduce their additional operational costs. However, there has been a rise in the labor cost of developing countries as well, which compelled the businesses and organisations to incline towards advanced automation technologies.
With the same token, the automation of white-collar work through RPA, employing technologies like robotics and AI is accelerating the efficiency and effectiveness of work. Owing to which, the RPA is witnessing great demand in the global markets in the present-day world, which is further anticipated to give a positive push to the overall growth of the global robotic process automation (RPA) market over the coming years.
However, the employment of RPA solutions initially requires an appropriate infrastructure as well as skilled and experienced workforce to carry out all the processes in a right manner, which is likely to restrain the growth of the global RPA market in the given timeframe.
Robotic Process Automation (RPA) Market Segmentation
The global Robotic Process Automation (RPA) market is segmented on the basis of process, operations, type, industry and region. On the basis of the process, the Robotic Process Automation (RPA) market is segmented into Automated Solution, Decision Support And Management Solution, and Interaction Solution. The operations segment is divided into Spend Analysis, E-Sourcing, E-Procurement, Contract Management, and Supplier Management. Furthermore, the type segment is divided into Tools, Services, and Travel & Logistics. On the basis of industry, the market is bifurcated into BFSI, Healthcare & Pharmaceuticals, Manufacturing & Logistics, IT & Telecommunication, Retail, Travel, Hospitality, Transportation, and Others.
By Process
Automated Solution
Decision Support and Management Solution
Interaction Solution
By Operations
Spend Analysis
E-Sourcing
E-Procurement
Contract Management
Supplier Management
By Type
Tools
Services
Travel & Logistics
By Industry
BFSI
Healthcare & Pharmaceuticals
Manufacturing & Logistics
IT & Telecommunication
Retail
Travel
Hospitality
Transportation
Others
Robotic Process Automation (RPA) Market Key Players
The global Robotic Process Automation (RPA) market is dominated by Automation Anywhere, Blue Prism, Celaton Ltd, Ipsoft, Nice Systems Ltd., Pegasystems, Redwood Software, Uipath, Verint, Xerox Corporation, among others.
MMC Overview on Robotic Process Automation (RPA) Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Robotic Process Automation (RPA) market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Robotic Process Automation (RPA)
Advantages of Robotic Process Automation (RPA)
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
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1. Global Robotic Process Automation (RPA) Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Robotic Process Automation (RPA) Market Overview
2.1. Introduction
2.1.1. Introduction
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Robotic Process Automation (RPA) Market Snapshot
2.4. Global Robotic Process Automation (RPA) Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Robotic Process Automation (RPA) Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Robotic Process Automation (RPA) Assessment and Analysis
3.1. Actions to encourage use of Robotic Process Automation (RPA) Technology
3.2. Robotic Process Automation (RPA) Promotional Strategy Recommendation
3.3. Road Map Analysis
3.4. GAP Analysis
3.5. Potential Analysis
4. Covid-19 Impact on Robotic Process Automation (RPA) Market in 2020
5. Global Robotic Process Automation (RPA) Market, By Process
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Process
5.1.2. BPS Analysis, By Process
5.2. Market Revenue (US$Mn) Forecast, By Process
5.2.1. Automated Solution
5.2.2. Decision Support and Management Solution
5.2.3. Interaction Solution
5.3. Global Robotic Process Automation (RPA) Market Attractiveness Index, By Process
6. Global Robotic Process Automation (RPA) Market, By Operations
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Operations
6.1.2. BPS Analysis, By Operations
6.2. Market Revenue (US$Mn) Forecast, By Operations
6.2.1. Spend Analysis
6.2.2. E-Sourcing
6.2.3. E-Procurement
6.2.4. Contract Management
6.2.5. Supplier Management
6.3. Global Robotic Process Automation (RPA) Market Attractiveness Index, By Operations
7. Global Robotic Process Automation (RPA) Market, By Type
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Type
7.1.2. BPS Analysis, By Type
7.2. Market Revenue (US$Mn) Forecast, By Type
7.2.1. Tools
7.2.2. Services
7.2.3. Travel & Logistics
7.3. Global Robotic Process Automation (RPA) Market Attractiveness Index, By Type
8. Global Robotic Process Automation (RPA) Market, By Region
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Region
8.1.2. BPS Analysis, By Region
8.2. Market Revenue (US$Mn) Forecast, By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East
8.2.6. Africa
8.3. Global Robotic Process Automation (RPA) Market Attractiveness Index, By Region
9. North America Robotic Process Automation (RPA) Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) Forecast, By Country
9.2.1. U.S. Robotic Process Automation (RPA) Market
9.2.2. Canada Robotic Process Automation (RPA) Market
9.3. North America Robotic Process Automation (RPA) Market, By Process
9.3.1. Automated Solution
9.3.2. Decision Support and Management Solution
9.3.3. Interaction Solution
9.4. North America Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
9.4.1. Spend Analysis
9.4.2. E-Sourcing
9.4.3. E-Procurement
9.4.4. Contract Management
9.4.5. Supplier Management
9.5. North America Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
9.5.1. Tools
9.5.2. Services
9.5.3. Travel & Logistics
9.6. North America Robotic Process Automation (RPA) Market Attractiveness Index
9.6.1. By Country
9.6.2. By Process
9.6.3. By Type
10. Latin America Robotic Process Automation (RPA) Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. Brazil Robotic Process Automation (RPA) Market
10.2.2. Mexico Robotic Process Automation (RPA) Market
10.2.3. Argentina Robotic Process Automation (RPA) Market
10.2.4. Rest Of Latin America Robotic Process Automation (RPA) Market
10.3. Latin America Robotic Process Automation (RPA) Market, By Process
10.3.1. Automated Solution
10.3.2. Decision Support and Management Solution
10.3.3. Interaction Solution
10.4. Latin America Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
10.4.1. Spend Analysis
10.4.2. E-Sourcing
10.4.3. E-Procurement
10.4.4. Contract Management
10.4.5. Supplier Management
10.5. Latin America Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
10.5.1. Tools
10.5.2. Services
10.5.3. Travel & Logistics
10.6. Latin America Robotic Process Automation (RPA) Market Attractiveness Index
10.6.1. By Country
10.6.2. By Process
10.6.3. By Type
11. Europe Robotic Process Automation (RPA) Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. U.K. Robotic Process Automation (RPA) Market
11.2.2. Germany Robotic Process Automation (RPA) Market
11.2.3. Italy Robotic Process Automation (RPA) Market
11.2.4. France Robotic Process Automation (RPA) Market
11.2.5. Spain Robotic Process Automation (RPA) Market
11.2.6. Russia Robotic Process Automation (RPA) Market
11.2.7. Poland Robotic Process Automation (RPA) Market
11.2.8. BENELUX Robotic Process Automation (RPA) Market
11.2.9. NORDIC Robotic Process Automation (RPA) Market
11.2.10. Rest Of Europe Robotic Process Automation (RPA) Market
11.3. Europe Robotic Process Automation (RPA) Market, By Process
11.3.1. Automated Solution
11.3.2. Decision Support and Management Solution
11.3.3. Interaction Solution
11.4. Europe Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
11.4.1. Spend Analysis
11.4.2. E-Sourcing
11.4.3. E-Procurement
11.4.4. Contract Management
11.4.5. Supplier Management
11.5. Europe Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
11.5.1. Tools
11.5.2. Services
11.5.3. Travel & Logistics
11.6. Europe Robotic Process Automation (RPA) Market Attractiveness Index
11.6.1. By Country
11.6.2. By Process
11.6.3. By Type
12. Asia Pacific Robotic Process Automation (RPA) Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. China Robotic Process Automation (RPA) Market
12.2.2. India Robotic Process Automation (RPA) Market
12.2.3. Japan Robotic Process Automation (RPA) Market
12.2.4. Australia and New Zealand Robotic Process Automation (RPA) Market
12.2.5. South Korea Robotic Process Automation (RPA) Market
12.2.6. ASEAN Robotic Process Automation (RPA) Market
12.2.7. Rest of Asia Pacific Robotic Process Automation (RPA) Market
12.3. Asia Pacific Robotic Process Automation (RPA) Market, By Process
12.3.1. Automated Solution
12.3.2. Decision Support and Management Solution
12.3.3. Interaction Solution
12.4. Asia Pacific Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
12.4.1. Spend Analysis
12.4.2. E-Sourcing
12.4.3. E-Procurement
12.4.4. Contract Management
12.4.5. Supplier Management
12.5. Asia Pacific Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
12.5.1. Tools
12.5.2. Services
12.5.3. Travel & Logistics
12.6. Asia Pacific Robotic Process Automation (RPA) Market Attractiveness Index
12.6.1. By Country
12.6.2. By Process
12.6.3. By Type
13. Middle East Robotic Process Automation (RPA) Market, By Region
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. GCC Countries Robotic Process Automation (RPA) Market
13.2.2. Israel Robotic Process Automation (RPA) Market
13.2.3. Rest Of Middle East Robotic Process Automation (RPA) Market
13.3. Middle East Robotic Process Automation (RPA) Market, By Process
13.3.1. Automated Solution
13.3.2. Decision Support and Management Solution
13.3.3. Interaction Solution
13.4. Middle East Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
13.4.1. Spend Analysis
13.4.2. E-Sourcing
13.4.3. E-Procurement
13.4.4. Contract Management
13.4.5. Supplier Management
13.5. Middle East Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
13.5.1. Tools
13.5.2. Services
13.5.3. Travel & Logistics
13.6. Middle East Robotic Process Automation (RPA) Market Attractiveness Index
13.6.1. By Country
13.6.2. By Process
13.6.3. By Type
14. Africa Robotic Process Automation (RPA) Market, By Region
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. South Africa Robotic Process Automation (RPA) Market
14.2.2. Egypt Robotic Process Automation (RPA) Market
14.2.3. North Africa Robotic Process Automation (RPA) Market
14.2.4. Rest Of Africa Robotic Process Automation (RPA) Market
14.3. Africa Robotic Process Automation (RPA) Market, By Process
14.3.1. Automated Solution
14.3.2. Decision Support and Management Solution
14.3.3. Interaction Solution
14.4. Africa Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Operations
14.4.1. Spend Analysis
14.4.2. E-Sourcing
14.4.3. E-Procurement
14.4.4. Contract Management
14.4.5. Supplier Management
14.5. Africa Robotic Process Automation (RPA) Market Revenue (US$Mn) Forecast, By Type
14.5.1. Tools
14.5.2. Services
14.5.3. Travel & Logistics
14.6. Africa Robotic Process Automation (RPA) Market Attractiveness Index
14.6.1. By Country
14.6.2. By Process
14.6.3. By Type
15. Recommendation
15.1. Market Strategy
16. Competitive Landscape
16.1. Competition Dashboard
16.2. List and Company Overview of Global Key Players
16.3. Company Profiles
16.3.1. Automation Anywhere
16.3.1.1. Company Overview
16.3.1.2. Financial Overview
16.3.1.3. Product Portfolio
16.3.1.4. SWOT Analysis
16.3.1.5. Key Developments
16.3.1.6. Business Strategies
16.3.2. Blue Prism
16.3.3. Celaton Ltd
16.3.4. Ipsoft
16.3.5. Nice Systems Ltd.
16.3.6. Pegasystems
16.3.7. Redwood Software
16.3.8. Uipath
16.3.9. Verint
16.3.10. Xerox Corporation
17. Acronyms
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Frequently Asked Questions
The global Robotic Process Automation (RPA) market is estimated to reach at a value of US$ 1.6 Bn by the end of 2020 and expected to reach at a value of US$ 6.9 Mn by 2028 with a significant CAGR of 19.9%.
The enormous rise in acceptance and adoption of on-premise RPA solutions by organizations across the world that are pursuing to economize costs by turning a huge volume of processes to be automated through robotic process automation or RPA owing to several benefits it has to offer, comprising compliance, improved accuracy, cost-effectiveness, as well as scalability is measurable, which further leaves a positive impact on various financial services such as error reduction and audit savings, is majorly boosting the growth of the market.
The global Robotic Process Automation (RPA) market is segmented on the basis of process, operations, type, industry and region.
The global Robotic Process Automation (RPA) market is dominated by Automation Anywhere, Blue Prism, Celaton Ltd, Ipsoft, Nice Systems Ltd., Pegasystems, Redwood Software, Uipath, Verint, Xerox Corporation, among others.