Robotic Process Automation Market
The robotic process automation market size is witnessing a continual revenue rise. Factors such as the rising automation and digitization across end-use industries and increasing adoption of RPA services drive the market growth. Besides, advances in robotics and manufacturing techniques substantiate the growth of the market.
With the growing need for robotic transformations, the market is estimated to witness escalated demand worldwide. According to Market Research Future (MRFR), the global robotic process automation market is poised to grow exponentially by 2027, registering a significant CAGR throughout the forecast period (2020-2027).
Robotic process automation (RPA) improves operational efficiency. Therefore, organizations across end-use industries install RPA solutions to enhance production capabilities at a lower cost with fast speed. The increasing uses of smart connected devices and IIoT propel the market value, attracting high growth in manufacturing sectors.
Organizations are increasingly bringing their RPA expertise to higher-value initiatives for business workflow transformation, supporting the growth of the market. Moreover, innovations in digital technologies and the growing demand for smartphones integrated with more features influence the market size.
Business leaders are recognizing the potential of automation, where RPA technology is integrated with AI capabilities, becoming a strategic lever for wide-scale transformation, innovation, and competitive difference. RPA is evolving rapidly and unlocking automation’s potential at scale to transform the way people work.
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Robotic Process Automation Market Segments
The report is segmented into types, processes, operations, industries, and regions. The process segment is sub-segmented into automated solutions, decision support & management solutions, and others. The type segment is sub-segmented into SCARA, Cartesian, articulated, 6-axis robots, delta, redundant, parallel, dual-arm, and others.
The operation segment is sub-segmented into rule-based operations and knowledge-based operations. The industry segment is sub-segmented into IT & telecommunication, manufacturing & logistics, and others. The region segment is sub-segmented into North Europe, America, Asia-Pacific, and the-rest-of-the-world.
Robotic Process Automation Market Regional Analysis
North America leads the global robotic process automation market. Factors such as the strong presence of notable players and well-established development centers drive the market growth in the region, allowing the early adoption of advanced technologies and robotic transformation.
Besides, increasing R&D investments to develop automation technologies and services boost the robotic automation smartphone manufacturing market size. The increasing adoption of RPA across the smartphone manufacturing industry in the region boosts the market growth.
Robotic Process Automation Market Competitive Analysis
Highly competitive, the RPA market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.
Robotic Process Automation Market Major Players:
Players leading the RPA market are Automation Anywhere (US), Blue Prism (UK), Celaton Ltd. (UK), Ipsoft (US), Nice Systems Ltd. (Israel), Pegasystems (US), Redwood Software (US), Uipath (Romania), Verint (US), and Xerox Corporation (US), among others.
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Robotic Process Automation Industry/Innovation/Related News:
Sep.21, 2021 --- UiPath, a leading enterprise automation software company, announced its partnership with People Tech Group (PTG), a Cloud, Data & AI, and Engineering Services Company. Together, these companies have launched a Robotic Process Automation (RPA) services capability for organizations to increase efficiency through enterprise automation software.
The partnership enables PTG to offer the UiPath industry-leading automation platform with ongoing proactive service and support to foster digital transformation efforts for its customers worldwide.