Robotic Process Automation (RPA) Market is slated to grow rapidly in the coming years |Blue Prism, Celaton, IPSoft, Pegasystems
Robotic Process Automation allows the employees in an organization to configure the software to capture and interpret existing applications for manipulating data, processing transactions, communicating with other systems and triggering responses.
Dallas, United States – April 27, 2021 /MarketersMedia/ —
The global robotic process automation market size is anticipated to reach nearly USD 4 billion by 2025. In addition, it is expected to exhibit a CAGR of over 25% during the forecast period 2020-2025. This market research report on Robotic Process Automation industry assesses the market demand, use cases & trending scenario for the period ranging from 2015 to 2025. The report highlights the historical developments from 2015 to 2018 & market forecast from 2019 to 2025.
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Robotic process automation (RPA) is the application of technology that is used to configure a robot or computer software to interpret existing applications or to capture rule-based processing of transactions, trigger responses, manipulate data and communicate with other digital systems. The RPA basically refers to automation of routine business practices by making use of software robots. The process also includes the use of software with machine learning capabilities and Artificial Intelligence (AI) in order to handle heavy tasks. Robotic process automation refers to dealing with the application of smart software in order to carry out repetitive and high-volume tasks that generally take a lot of time for humans to accomplish and that are usually monotonous to perform. The tasks include operations like automatic online assistants, IT management, transaction processing and many others.
The Robotic Process Automation is gaining enormous amount of popularity across the globe over the past few years. These robots are capable of replacing humans with common tasks. Robotic process automation has a wide range of applications in fields like human resources, healthcare, financial services, accounting and customer service. The Robotic Process Automation industry has recorded a praiseworthy growth in recent years. The growth of the RPA industry is accredited by number of growth driving aspects. The RPA is highly adopted in firms with considerably large employee strength in order to perform high-volume functions, transaction process or perform data operations. With rising adoption of cloud technology huge amount of data is generated among firms which need to be handled precisely. This is one of the most crucial aspects causing an upsurge in the growth of the RPA industry.
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Robotic Process Automation has transformed and enhanced methods during which organizations or businesses cater to remote back-office work, workflow processes, administer the business, IT support and infrastructure. In addition to that, RPA provides increased productivity in transaction processing, improved cycle time and good accuracy. All of these aspects are anticipated to provide momentum to the growth of the RPA industry. Furthermore the features of RPA such as organized IT support and management, versatility, increased employee productivity, improved analytics, consistency, quality, accuracy and cost-effectiveness are also causing rise in popularity of RPA across the globe. The adoption of robotic process automation in organization provides help in expansion of the firm which in turn is causing boost in the demand for these software robots.
The adoption of RPA in health care and pharmaceutical industries is major aspect acting like a catalyst for market growth.
Region-Wise, North America is expected to hold a significant share of the global Robotic Process Automation market. This is owing to the presence of major industry players, the presence of VCs and startups. Some of the major companies operating in the Robotic Process Automation market include Nice Systems Ltd., Automation Anywhere, Blue Prism, Celaton, IPSoft, Pegasystems, Redwood Software, UiPath, Verint, Xerox among other prominent players.
Key segments of the global robotic process automation market
Process Overview, 2015-2025 (USD Million)
Automated Solution
Decision Support & Management Solution
Interaction Solution
Operation Overview, 2015-2025 (USD Million)
Rule Based
Knowledge Based
Type Overview, 2015-2025 (USD Million)
Tools
Services
Industry Overview, 2015-2025 (USD Million)
BFSI
Manufacturing
Pharma & Healthcare
Retail
Telecom & IT
Others
Regional Overview, 2015-2025 (USD Million)
North America
U.S.
Canada
Europe
UK
Germany
France
Switzerland
Rest of Europe
Asia Pacific (APAC)
India
China
Japan
Australia
Rest of APAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa (MEA)
GCC
Rest of MEA
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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