RPA Market: In-Depth Coverage And Various Important Aspects by 2030

1. Robotic Process Automation Market Trends, Segmentation, Key Players And Forecast 1 ©P&SIntelligence.Allrightsreserved

2. The global robotic process automation market generated a revenue of $2,078.3 million in 2020, and it is predicted to reach a value of $45,982.0 million by 2030, owing to the growing requirement for higher business efficiency and the ability of robotic process automation solutions to provide improved customer experience and increase the ease of handling various business processes. In addition, the surging need for virtual workforces is also expected to propel the market at a CAGR of 36.3% from 2020 to 2030 (forecast period). The robotic process automation (RPA) software provides improved work efficiency by mechanizing the back-end processes. Moreover, the software can easily run in the background continuously, which allows human employees to focus on more important tasks, such as client handling. For example, IBM Corporation and Automation Anywhere Inc. partnered with each other in 2017 in order to provide enterprises with a set of tools that automate and simplify data-intensive tasks, which would subsequently assist enterprises in digitizing their operations and improving efficiency. Furthermore, the improved customer experience offered by these solutions is also fueling the expansion of the RPA market. This is primarily evident in the finance industry, where many companies are rapidly adopting digital solutions. The RPA software handles tasks, such as producing statements and the transactions made in real-time, which assists banks in sending computerized reminders to customers. Because of these factors, many players operating in the market are providing industry-centric solutions to banking, financial services, and insurance (BFSI) companies. Depending on the operation segment, the RPA market is classified into knowledge-based and rule-based. Of these, the rule-based category held the larger share in the market in the past, and this trend is expected to continue in the coming years as well. This is ascribed to the various advantages provided by rule- based automation, such as effective execution of various repeatable tasks that do not need human expertise or intervention. In addition, rule-based RPA runs business applications via existing user interfaces, based on pre-defined inputs. The RPA market is also categorized, on the basis of vertical, into BFSI, retail and consumer goods, healthcare and pharmaceuticals, manufacturing, and telecom and information technology (IT). Out of these, the retail and consumer goods category is expected to exhibit the highest growth rate throughout the forecast period. The integration of information and data has become simpler, owing to the adoption of these solutions, thereby giving the players operating in the retail and consumer goods industry time to focus on providing better services. Globally, North America contributed the highest revenue to the RPA market in 2020, and the situation will not change during the forecast period as well. This is ascribed to the presence of a well-developed information technology (IT) infrastructure, surging investments being made in the IT sector, and growing use of advanced technologies in the region. Whereas, the Asia-Pacific (APAC) region is expected to be the fastest-growing region in the market throughout the forecast period. This is attributed to the soaring

3. investments being made in the development of IT infrastructure and rising public awareness about automation in the region. Hence, the market will expand massively in the upcoming years, mainly because of the growing demand for virtual workforces and rising need for higher business efficiency. This study covers Historical and the present size of the Robotic Process Automation Market Major factors driving the market and their impact during the short, medium, and long terms Market restraints and their impact during the short, medium, and long terms Recent trends and evolving opportunities for the market participants Historical and the present size of the market segments and understand their comparative future potential Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders Major players operating in the market and their service offerings Recent strategic developments by the major players in the market 3 ©P&SIntelligence.Allrightsreserved

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