Robotic Process Automation Global Market Report 2022: Sector to Reach $18.69 Billion by 2030 with a 22.5% CAGR

DUBLIN, Jan. 10, 2023 /PRNewswire/ -- The "Robotic Process Automation Market by Component Type, by Process, by Application, by Deployment, by Organization size, and End Use Industry - Global Opportunity Analysis and Industry Forecast 2022-2030" report has been added to  ResearchAndMarkets.com's offering.

The Robotic Process Automation (RPA) Market size was valued at USD 2.27 billion in 2021 and is predicted to reach USD 18.69 billion by 2030, with a CAGR of 22.5% during the forecast period from 2022 to 2030.

The global demand for Robotic Process Automation (RPA) has increased as a result of factors such as the increase in demand for efficient and hassle-free work, which is driving the growth of the Robotic Process Automation (RPA) market. The increased deployment of RPA tools in the BFSI and telecom sectors also contributes to the growth of the RPA market.

However, high RPA tool prices, as well as a skilled workforce shortage, are impeding market growth. On the contrary, increasing focus on human-aware AI systems and the development of smarter robots is expected to create ample opportunities for key players operating in the Robotic Process Automation (RPA) market in the coming decade.

Market Dynamics

Drivers

• Rising Adoption and Development of RPA-Enabled Self-Learning Conversational Chatbots
• Increasing Adoption of Advanced Technologies Such as AI, Cloud, and Machine Learning.
• Developments and Innovations in RPA to Fulfil Consumer Demands
• Growing Adoption of Deep Learning and Neural Networks

Restraints

• Absence of Highly Skilled Manpower and Cybersecurity Threats

Opportunities

• Increasing Focus on Human-Aware AI Systems and Development of Smarter Robots

Segment Overview

The global robotic process automation (RPA) market is segmented on the basis of component, process, application, deployment, organization size, end-use industry and region.

• By component, the market is classified into software and services
• By process, the market is segmented into automated solutions, decision support and management solutions.
• By application, the market is categorized into administration and reporting, customer support, data migration and capture extraction, analysis and others.
• By deployment, the market is divided into cloud and on-premise.
• By organization size, the market is fragmented into large enterprises and small & medium enterprises.
• By end-user industry, the market is bifurcated into bfsi, healthcare and pharmaceuticals, manufacturing, telecom and it, retail and consumer goods, travel and hospitality, transportation and logistics, energy & utilities, communication and media & education and others.
• Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and RoW.

Regional Analysis

North America is projected to hold a dominant share by 2030

North America dominates the global Robotic Process Automation (RPA) market and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to the factors such as the presence of well-established market players such as Xerox Holdings and UiPath along with surging investments in robotic process automation (RPA) in the information technology (IT) sector. In addition, the rising demand for RPA tools in the BFSI and automotive sectors are also propelling the RPA market forward.

Key Market Players

Emerging and efficient key players in the Robotic Process Automation (RPA) market research include companies such as:

• UiPath, Inc
• Automation Anywhere
• Blue Prism Limited
• Nice Ltd.
• Pega System
• Kofax Inc.
• NTT-AT
• EdgeVerve System
• HelpSystems
• WorkFusion, Inc.

Recent Developments
October 2022

Automation Anywhere launched the Automation Success Platform which was designed to accelerate business transformation by making automation accessible for everyone.

October 2022

Pegasystems announced the latest release of Robot Studio, the robotic process automation (RPA) low-code authoring environment for Pega's intelligent automation platform.

June 2022

NICE launched NICE Robotic Process Automation (RPA) version 7.7, extending the capabilities of NEVA (NICE Employee Virtual Attendant) for a frictionless user experience.

May 2022

BluePrism launched a desktop automation solution Blue Prism Desktop. Blue Prism Desktop helped to guard against operational vulnerabilities resulting from human interaction, including governance and security risks.

May 2022

UiPath launched 'Automation in a box' managed service on Finastra's cloud platform to deliver automation to banks and credit unions.


Key Topics Covered:

1. Introduction

2. Robotic Process Automation Market - Executive Summary

3. Market Overview

4. Market Share Analysis

5. Global Robotic Process Automation Market, by Component

6. Global Robotic Process Automation Market, by Process

7. Global Robotic Process Automation Market, by Applications

8. Global Robotic Process Automation Market, by Deployment Mode

9. Global Robotic Process Automation Market, by Organization Size

10. Global Robotic Process Automation Market, by Verticals

11. Global Robotic Process Automation Market, by Region

12. Company Profiles

Companies Mentioned

• UiPath, Inc
• Automation Anywhere
• Blue Prism Limited
• Nice Ltd.
• Pega System
• Kofax Inc.
• NTT-AT
• EdgeVerve System
• HelpSystems
• WorkFusion, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ltan6a

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