Robotic Process Automation Market 2022, Size, Demand, Trends and Forecast 2027

According to the latest report by IMARC Group "Robotic Process Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global robotic process automation market size reached US$ 2.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2027, exhibiting a CAGR of 30.08% during 2022-2027.

Robotic process automation (RPA) represents an advanced software technology that builds, deploys, and manages software robots. It assists in manipulating data, passing data from various applications, triggering responses, or executing transactions. Robotic process automation also aids in streamlining workflows and increasing employee satisfaction, engagement, and productivity by eliminating repetitive tasks from their workdays. Besides this, it offers numerous benefits, such as greater resilience, higher accuracy, accelerated transformation, enhanced compliance, improved productivity, etc. Robotic process automation is also scalable, requires minimal investment, and provides a significant return on investment (ROI).

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

Shifting consumer preferences towards remote working to comply with government regulations regarding COVID-19, continue business operations, and prevent the spread of the pandemic, are primarily driving the global RPA market. Besides this, various leading players are integrating RPA with advanced technologies, such as machine learning (ML),which is further augmenting the market growth. Additionally, numerous key manufacturers are utilizing artificial intelligence (AI) to handle cognitive processes that require skills, including visualizing screens, comprehending speech, carrying on conversations and chats, understanding documents, etc. This, in turn, will continue to propel the RPA market over the forecasted period.

Breakup by Component:

Software

Services

Breakup by Operation:

Rule-based

Knowledge-based

Breakup by Deployment Model:

On-premises

Cloud-based

Breakup by Organization Size:

Large Enterprises

Small and Medium Sized Enterprises

Breakup by End User:

BFSI

Healthcare and Pharmaceuticals

Retail and Consumer Goods

IT and Telecommunication

Government and Defense

Transportation and Logistics

Energy and Utilities

Others

Market Breakup by Region:

North America (United States, Canada)

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa

Competitive Landscape with Key Player:

Amelia US LLC

Automation Anywhere Inc.

AutomationEdge

Blue Prism Group PLC

Infosys Limited

International Business Machines Corporation

Kofax Inc.

NICE Ltd.

Pegasystems Inc.

UiPath, Verint Systems

WorkFusion Inc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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