Robotic Process Automation Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Process ; By Operation ; By Offering ; By Organization Size ; By Industry ; By Region

Description

Global Robotic Process Automation (RPA) Market Size Zooming More Than 5X to Reach USD 19.3 billion by 2029

Global robotic process automation (RPA) market is flourishing because of an increasing demand for robotic process automation in healthcare, a surging demand for business process automation, and high adoption of advanced technologies including robotic process automation solutions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global robotic process automation (RPA) market size at USD 3.42 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global robotic process automation market size to grow at a robust CAGR of 28.5% reaching a value of USD 19.25 billion by 2029. Major growth factors of global RPA market include increasing need to optimize operations in order to enhance efficiency and achieve maximum return, rising integration of cutting-edge technologies, and the transformation of business processes across companies. The market is expected to trend incline towards RPA owing to the reduction in workforce cost coupled with rise in adoption process. Also, robotic process automation market further includes surge in demand for virtual workforces along with ease of doing business. Some of the major trends observed in this market are the evolution of robust software platforms, overall cost reduction related to workforce and continuous advancement in fields of AI and cognitive computing. The integration of the newest technology, changing business processes across companies, and the need to optimize operations in order to increase efficiency and create the greatest return are likely to fuel market expansion. Additionally, due to a shift in company culture toward remote work during the COVID-19 pandemic and a rise in the requirement for process automation, the market growth is expected to expand during the period in analysis. However, data insecurity risk in the financial sector is anticipated to restrain the market growth.

Global Robotic Process Automation Market - Overview:

Robotic process automation (RPA) refers to the use of software bots to automate business processes. These bots can be programmed to do tasks such as data entry, processing transactions, and responding to customer inquiries. RPA can help businesses to improve efficiency, reduce errors, and increase speed by automating repetitive and routine tasks. It can be used in a variety of industries and can be integrated with other systems and software. The technology known as robotic process automation, which is controlled by business logic and structured inputs, enables software robots to be configured to simulate and interpret applications for interacting with other digital systems, altering data, and evoking replies. Robots used in robotic process automation are employed by businesses to complete boring and repetitive activities.

Global Robotic Process Automation Market - By Operation:

Based on operation, the global robotic process automation market is bifurcated into Rule-based and Knowledge-based segments. In 2022, the rule-based operation segment dominated the market, and it continues to dominate over the projection period. This is because repetitive tasks are carried out effectively by rule-based software without the assistance of humans or specialized knowledge. Additionally, this solution makes advantage of the already-existing user interfaces to execute corporate program using pre-defined inputs. The need for rule-based software is further increased by its expanding application fields, which include office jobs like customer service and IT assistance, as well as office chores like invoice processing, data input, and data collecting from various applications.

Impact of COVID-19 on Global Robotic Process Automation Market

The COVID-19 pandemic had a significant impact on the market for robotic process automation (RPA). In general, the demand for RPA increased as businesses have sought ways to automate processes and reduce the need for human labor in the face of economic uncertainty and social distancing measures. Many businesses have turned to RPA as a way to maintain business continuity and keep operations running smoothly during the pandemic. At the same time, the pandemic has also disrupted supply chains and disrupted the market for RPA in some cases. Some companies have experienced delays in the deployment of RPA projects due to disruptions in the availability of hardware and software. In addition, the economic downturn caused by the pandemic has led to reduced spending on RPA and other types of technology in some cases. Overall, the COVID-19 pandemic has had a mixed impact on the RPA market, with increased demand in some cases and disruptions in others.

Competitive Landscape:

Major players operating in global robotic process automation market include Nice Systems Limited, Pegasystems Inc., Automation Anywhere Inc., Blue Prism Limited, Celaton Limited, Redwood Software Inc., Ipsoft Inc., UiPath, Xerox Corporation, and IBM Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Robotic Process Automation Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Robotic Process Automation Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23096

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Robotic Process Automation Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing Demand for Business Process Automation
  - 3.2.1.2. Growing Demand for Robotic Process Automation in Healthcare
  - 3.2.1.3. Growing Demand for Automation in Business Processes
  - 3.2.1.4. Increasing Adoption of Advanced Technologies to Surge Demand for Robotic Process Automation Solutions
- 3.2.2. Restraints
  - 3.2.2.1. Data Insecurity Risk in the Financial Sector
  - 3.2.2.2. Less Potential for Robotic Process Automation in Knowledge-based Business Processes
- 3.2.3. Opportunities
  - 3.2.3.1. Growing Adoption of Advanced Technologies
  - 3.2.3.2. Growing Innovations in RPA to Accommodate Changing Consumer Demands
  - 3.2.3.3. High Demand for Robotic Process Automation in the Logistics Industry
  - 3.2.3.4. Expected Adoption of Robotic Process Automation in the BPO Sector
- 3.2.4. Challenges
  - 3.2.4.1. High Implementation Cost
  - 3.2.4.2. Lack of Awareness regarding Robotic Process Automation
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Robotic Process Automation Market Overview

4.1. Market Size & Forecast by Value, 2019-2029
- 4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
- 4.2.1. By Process
  - 4.2.1.1. Automated Solution
  - 4.2.1.2. Decision Support & Management
  - 4.2.1.3. Interaction Solution
- 4.2.2. By Operation
  - 4.2.2.1. Rule-based
  - 4.2.2.2. Knowledge-based
- 4.2.3. By Offering
  - 4.2.3.1. Service
  - 4.2.3.1.1. Professional
  - 4.2.3.1.2. Implementation
  - 4.2.3.1.3. Training
  - 4.2.3.2. Software
- 4.2.4. By Organization Size
  - 4.2.4.1. Large Enterprises
  - 4.2.4.2. SMEs
- 4.2.5. By Industry
  - 4.2.5.1. Banking, Financial Service and Insurance (BFSI)
  - 4.2.5.2. Telecom & IT
  - 4.2.5.3. Retail and Consumer Goods
  - 4.2.5.4. Manufacturing
  - 4.2.5.5. Healthcare and Pharmaceuticals
- 4.2.6. By Region
  - 4.2.6.1. North America
  - 4.2.6.2. Europe
  - 4.2.6.3. Asia Pacific
  - 4.2.6.4. Latin America
  - 4.2.6.5. Middle East and Africa

5. North America Robotic Process Automation Market

5.1.1. Market Size & Forecast by Value, 2019-2029
5.1.2. By Value (USD Billion)

5.2. Market Share & Forecast
- 5.2.1. By Process
- 5.2.2. By Operation
- 5.2.3. By Offering
- 5.2.4. By Organization Size
- 5.2.5. By Industry
- 5.2.6. By Country
  - 5.2.6.1. US
  - 5.2.6.1.1. By Process
  - 5.2.6.1.2. By Operation
  - 5.2.6.1.3. By Offering
  - 5.2.6.1.4. By Organization Size
  - 5.2.6.1.5. By Industry
  - 5.2.6.2. Canada
  - 5.2.6.2.1. By Process
  - 5.2.6.2.2. By Operation
  - 5.2.6.2.3. By Offering
  - 5.2.6.2.4. By Organization Size
  - 5.2.6.2.5. By Industry

6. Europe Robotic Process Automation Market

6.1. Market Size & Forecast by Value, 2019-2029
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Process
- 6.2.2. By Operation
- 6.2.3. By Offering
- 6.2.4. By Organization Size
- 6.2.5. By Industry
- 6.2.6. By Country
  - 6.2.6.1. Germany
  - 6.2.6.1.1. By Process
  - 6.2.6.1.2. By Operation
  - 6.2.6.1.3. By Offering
  - 6.2.6.1.4. By Organization Size
  - 6.2.6.1.5. By Industry
  - 6.2.6.2. United Kingdom
  - 6.2.6.2.1. By Process
  - 6.2.6.2.2. By Operation
  - 6.2.6.2.3. By Offering
  - 6.2.6.2.4. By Organization Size
  - 6.2.6.2.5. By Industry
  - 6.2.6.3. Italy
  - 6.2.6.3.1. By Process
  - 6.2.6.3.2. By Operation
  - 6.2.6.3.3. By Offering
  - 6.2.6.3.4. By Organization Size
  - 6.2.6.3.5. By Industry
  - 6.2.6.4. France
  - 6.2.6.4.1. By Process
  - 6.2.6.4.2. By Operation
  - 6.2.6.4.3. By Offering
  - 6.2.6.4.4. By Organization Size
  - 6.2.6.4.5. By Industry
  - 6.2.6.5. Spain
  - 6.2.6.5.1. By Process
  - 6.2.6.5.2. By Operation
  - 6.2.6.5.3. By Offering
  - 6.2.6.5.4. By Organization Size
  - 6.2.6.5.5. By Industry
  - 6.2.6.6. The Netherlands
  - 6.2.6.6.1. By Process
  - 6.2.6.6.2. By Operation
  - 6.2.6.6.3. By Offering
  - 6.2.6.6.4. By Organization Size
  - 6.2.6.6.5. By Industry
  - 6.2.6.7. Rest of Europe
  - 6.2.6.7.1. By Process
  - 6.2.6.7.2. By Operation
  - 6.2.6.7.3. By Offering
  - 6.2.6.7.4. By Organization Size
  - 6.2.6.7.5. By Industry

7. Asia-Pacific Robotic Process Automation Market

7.1. Market Size & Forecast by Value, 2019-2029
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Process
- 7.2.2. By Operation
- 7.2.3. By Offering
- 7.2.4. By Organization Size
- 7.2.5. By Industry
- 7.2.6. By Country
  - 7.2.6.1. China
  - 7.2.6.1.1. By Process
  - 7.2.6.1.2. By Operation
  - 7.2.6.1.3. By Offering
  - 7.2.6.1.4. By Organization Size
  - 7.2.6.1.5. By Industry
  - 7.2.6.2. India
  - 7.2.6.2.1. By Process
  - 7.2.6.2.2. By Operation
  - 7.2.6.2.3. By Offering
  - 7.2.6.2.4. By Organization Size
  - 7.2.6.2.5. By Industry
  - 7.2.6.3. Japan
  - 7.2.6.3.1. By Process
  - 7.2.6.3.2. By Operation
  - 7.2.6.3.3. By Offering
  - 7.2.6.3.4. By Organization Size
  - 7.2.6.3.5. By Industry
  - 7.2.6.4. South Korea
  - 7.2.6.4.1. By Process
  - 7.2.6.4.2. By Operation
  - 7.2.6.4.3. By Offering
  - 7.2.6.4.4. By Organization Size
  - 7.2.6.4.5. By Industry
  - 7.2.6.5. Australia & New Zealand
  - 7.2.6.5.1. By Process
  - 7.2.6.5.2. By Operation
  - 7.2.6.5.3. By Offering
  - 7.2.6.5.4. By Organization Size
  - 7.2.6.5.5. By Industry
  - 7.2.6.6. Indonesia
  - 7.2.6.6.1. By Process
  - 7.2.6.6.2. By Operation
  - 7.2.6.6.3. By Offering
  - 7.2.6.6.4. By Organization Size
  - 7.2.6.6.5. By Industry
  - 7.2.6.7. Malaysia
  - 7.2.6.7.1. By Process
  - 7.2.6.7.2. By Operation
  - 7.2.6.7.3. By Offering
  - 7.2.6.7.4. By Organization Size
  - 7.2.6.7.5. By Industry
  - 7.2.6.8. Singapore
  - 7.2.6.8.1. By Process
  - 7.2.6.8.2. By Operation
  - 7.2.6.8.3. By Offering
  - 7.2.6.8.4. By Organization Size
  - 7.2.6.8.5. By Industry
  - 7.2.6.9. Philippines
  - 7.2.6.9.1. By Process
  - 7.2.6.9.2. By Operation
  - 7.2.6.9.3. By Offering
  - 7.2.6.9.4. By Organization Size
  - 7.2.6.9.5. By Industry
  - 7.2.6.10. Vietnam
  - 7.2.6.10.1. By Process
  - 7.2.6.10.2. By Operation
  - 7.2.6.10.3. By Offering
  - 7.2.6.10.4. By Organization Size
  - 7.2.6.10.5. By Industry
  - 7.2.6.11. Rest of Asia Pacific
  - 7.2.6.11.1. By Process
  - 7.2.6.11.2. By Operation
  - 7.2.6.11.3. By Offering
  - 7.2.6.11.4. By Organization Size
  - 7.2.6.11.5. By Industry

8. Latin America Robotic Process Automation Market

8.1. Market Size & Forecast by Value, 2019-2029
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Process
- 8.2.2. By Operation
- 8.2.3. By Offering
- 8.2.4. By Organization Size
- 8.2.5. By Industry
- 8.2.6. By Country
  - 8.2.6.1. Brazil
  - 8.2.6.1.1. By Process
  - 8.2.6.1.2. By Operation
  - 8.2.6.1.3. By Offering
  - 8.2.6.1.4. By Organization Size
  - 8.2.6.1.5. By Industry
  - 8.2.6.2. Mexico
  - 8.2.6.2.1. By Process
  - 8.2.6.2.2. By Operation
  - 8.2.6.2.3. By Offering
  - 8.2.6.2.4. By Organization Size
  - 8.2.6.2.5. By Industry
  - 8.2.6.3. Argentina
  - 8.2.6.3.1. By Process
  - 8.2.6.3.2. By Operation
  - 8.2.6.3.3. By Offering
  - 8.2.6.3.4. By Organization Size
  - 8.2.6.3.5. By Industry
  - 8.2.6.4. Peru
  - 8.2.6.4.1. By Process
  - 8.2.6.4.2. By Operation
  - 8.2.6.4.3. By Offering
  - 8.2.6.4.4. By Organization Size
  - 8.2.6.4.5. By Industry
  - 8.2.6.5. Colombia
  - 8.2.6.5.1. By Process
  - 8.2.6.5.2. By Operation
  - 8.2.6.5.3. By Offering
  - 8.2.6.5.4. By Organization Size
  - 8.2.6.5.5. By Industry
  - 8.2.6.6. Rest of Latin America
  - 8.2.6.6.1. By Process
  - 8.2.6.6.2. By Operation
  - 8.2.6.6.3. By Offering
  - 8.2.6.6.4. By Organization Size
  - 8.2.6.6.5. By Industry

9. Middle East & Africa Robotic Process Automation Market

9.1. Market Size & Forecast by Value, 2019-2029
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Process
- 9.2.2. By Operation
- 9.2.3. By Offering
- 9.2.4. By Organization Size
- 9.2.5. By Industry
- 9.2.6. By Country
  - 9.2.6.1. Saudi Arabia
  - 9.2.6.1.1. By Process
  - 9.2.6.1.2. By Operation
  - 9.2.6.1.3. By Offering
  - 9.2.6.1.4. By Organization Size
  - 9.2.6.1.5. By Industry
  - 9.2.6.2. UAE
  - 9.2.6.2.1. By Process
  - 9.2.6.2.2. By Operation
  - 9.2.6.2.3. By Offering
  - 9.2.6.2.4. By Organization Size
  - 9.2.6.2.5. By Industry
  - 9.2.6.3. Qatar
  - 9.2.6.3.1. By Process
  - 9.2.6.3.2. By Operation
  - 9.2.6.3.3. By Offering
  - 9.2.6.3.4. By Organization Size
  - 9.2.6.3.5. By Industry
  - 9.2.6.4. Kuwait
  - 9.2.6.4.1. By Process
  - 9.2.6.4.2. By Operation
  - 9.2.6.4.3. By Offering
  - 9.2.6.4.4. By Organization Size
  - 9.2.6.4.5. By Industry
  - 9.2.6.5. South Africa
  - 9.2.6.5.1. By Process
  - 9.2.6.5.2. By Operation
  - 9.2.6.5.3. By Offering
  - 9.2.6.5.4. By Organization Size
  - 9.2.6.5.5. By Industry
  - 9.2.6.6. Nigeria
  - 9.2.6.6.1. By Process
  - 9.2.6.6.2. By Operation
  - 9.2.6.6.3. By Offering
  - 9.2.6.6.4. By Organization Size
  - 9.2.6.6.5. By Industry
  - 9.2.6.7. Algeria
  - 9.2.6.7.1. By Process
  - 9.2.6.7.2. By Operation
  - 9.2.6.7.3. By Offering
  - 9.2.6.7.4. By Organization Size
  - 9.2.6.7.5. By Industry
  - 9.2.6.8. Rest of Middle East & Africa
  - 9.2.6.8.1. By Process
  - 9.2.6.8.2. By Operation
  - 9.2.6.8.3. By Offering
  - 9.2.6.8.4. By Organization Size
  - 9.2.6.8.5. By Industry

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Robotic Process Automation Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, and others)

11. Impact of Covid-19 on Global Robotic Process Automation Market

12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

12.1. Nice Systems Limited
12.2. Pegasystems Inc.
12.3. Automation Anywhere Inc.
12.4. Blue Prism Limited
12.5. Celaton Limited
12.6. Redwood Software Inc.
12.7. Ipsoft Inc.
12.8. UiPath
12.9. Xerox Corporation
12.10. IBM Corporation
12.11. Other Prominent Player

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumption & Limitation