Robotic Process Automation Market worth US$2.039 billion by 2020
Knowledge Sourcing Intelligence launches the publication of a new report on “Robotic Process Automation Market – Forecasts from 2021 to 2026” to their giving.
The prime factor driving the growth of the global robotic process automation market is rising internet penetration in emerging countries, as well as increased digitization.
As per the report, the market for Robotic Process Automation Market is expected to grow at a steady pace.
Robotic process automation, also known as intelligent automation or smart automation, refers to advanced technologies that can be programmed to perform a variety of tasks that previously required human intervention, such as data manipulation, triggering responses, and establishing necessary communication with other processes and systems. Vendors are also improving their services by introducing new features such as automation lifecycle management, workload management, SLA-based automation, credential management, and Citrix automation, as well as new data APIs. With the ability to conduct massive quantities of operations in desktop and cloud settings, RPA is emerging as a disruptive technology across sectors and regions. It also enables incremental revenue possibilities, simplifies digital transformation, and frees up personnel to focus on process improvements, resulting in a higher return on investment. Automation has seen a rise in growth and applicability because to advancements in artificial intelligence (AI) and machine learning (ML).
Based on type, the robotic process automation market is segmented as software and services among which the service segment will uphold a larger market size. The rise in demand for outsourcing RPA and installing software over the cloud for automation is due to the growing demand for completing repetitive high-volume activities. Due to the fierce rivalry among businesses, service providers have been forced to improve their advising, training, and consulting services. RPA as a service is in high demand due to the continuing improvement of automation services to achieve higher scalability and reduced costs. The adoption of RPA as a service assists companies in identifying the automation possibilities to be maximized and then developing a business case by concentrating on the proper vendor selection as a first step toward pilot project deployment.
By enterprise size, the robotic process automation market is segmented into large enterprise and small and medium enterprises among which the large enterprise will show substantial growth. The need for autonomy among businesses and the shifting employment environment as a result of the Covid-19 epidemic encouraged the use of virtual workforce and RPA among major businesses. RPA allows major businesses to depend on automation to save money, minimize human mistakes, increase labor productivity, and ensure regulatory compliance.
By deployment, the robotic process automation market is segmented into cloud and on-premise among which the cloud segmented will show robust growth owing to the growing usage of RPA as an outsourced service, where the solution is installed on the cloud for companies, is linked with the growth of the cloud segment. RPA in the cloud has several advantages, including reduced infrastructure costs, automated updates, lower maintenance costs, and simplicity of deployment. Furthermore, the move to cloud-based IT infrastructure is driving end-users toward cloud-based RPA deployment, which may effectively solve cybersecurity issues. RPA use on the cloud is likely to grow as it allows for greater flexibility in expanding operations while also facilitating access to real-time data independent of employee location.
Based on geography, the robotic process automation market is segmented into the South American region, North American region, the Middle East and African region, the European region, and the Asia Pacific region. North America has the lion's share of the robotic process automation market, owing to the increasing use of automation and process management solutions by big as well as small and medium-sized businesses. Furthermore, the US government pushes all other agencies to implement automation technologies to streamline their work operations. This is projected to boost the region's worldwide market growth.
As a part of the report, the major players operating in the robotic process automation market, that have been covered are UiPath, Automation Anywhere Inc., NICE, Blue Prism, Pegasystems, KOFAX INC., NTT Advanced Technology Corporation, EdgeVerve Systems Limited, FPT Software, OnviSource, Inc. and HelpSystems.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/robotic-process-automation-market
This analytics report segments the robotic process automation market on the following basis
- By Type
- By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise (SMEs)
- By Application
- Pharma & Healthcare
- Retail & Consumer Goods
- Information Technology & Telecom
- Communication, Media & Education
- Logistics, Energy & Utilities
- By Deployment
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
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