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Robotic Process Automation Market to grow at
20% CAGR from 2017 to 2024: Global Market
Robotic Process Automation industry analysis is covered in this latest research
report that aims to help those taking daily business decisions by providing market
trends information, competitive landscape scenario, forecasts and more.
Robotic Process Automation (RPA) Market size is set to exceed USD 5 billion by
2024; as per a new research report by Global Market Insights, Inc.
The growing adoption of RPA technology by organizations to enhance their
capabilities, performance and reduce operational costs is expected to drive the
Robotic process automation market growth over the forecast timeline. In order to
gain ease of the processes, organizations are increasingly deploying these solutions
with the traditional business processes. Surge in demand to eliminate manual
interference in simplified and time-consuming business processes is predicted to
increase the technology adoption rate.
Robotic process automation market has a huge potential to transform the way
organizations operate and support various business processes. Surging eminence of
BPM solutions led to rising need of automating the operations by small & medium
businesses to stay ahead of the competition. Factors such as capability of the
technology to offer increased control over the processes and perform high-volume
routine tasks without human intervention, contributes significantly to the RPA market
growth. Rising awareness associated with the benefits of the solutions among
various organizations such as high level of accuracy and efficiency provide impetus
to the demand for Robotic process automation market solutions.
Lack of technical expertise associated with the deployment and integration might
hinder the RPA market growth. Moreover, less potential of such solutions to grow in
the knowledge based business operations is expected to curb the industry demand.
Continuity in the business processes, ROI and practical implications are among the
major concerns related to the technology implementation. Unwillingness of
employees to make a transition from traditional business processes to automated
business processes coupled with the lack of awareness will also pose a challenge to
Increasing demand from organizations to automate the business processes such as
handling customer enquiries is leading to the significant growth of automated
solutions demand. Adoption of such automated solutions helps organizations to
streamline the business operations and focus on their core competencies.
Automation of monotonous tasks such as timesheets & proposal submissions
eliminates the work load on production team results in increased productivity and
fueling the organization’s competitiveness.
To bridge the gap between largely backed digital transformation projects, the IT &
telecom sector is expected to witness high growth in the Robotic process automation
market. With a virtual workforce that streamlines the traditional business processes,
RPA can accomplish this leading the valuable company resources to focus on more
important work. The BFSI industry is expected to witness highest adoption of RPA
solutions, which can be attributed to the accuracy, efficiency offered by such
systems in terms of costs, providing a quick way to address the regulatory
compliance issues by bridging the connection between the BPM and ERP systems.
U.S. RPA Market Share, By Organization Size, 2016
Browse key industry insights spread across 190 pages with 179 market data tables &
20 figures & charts from the report, “Robotic Process Automation (RPA) Market
Size By Tools (Model-Based Application Tools, Process-Based Application
Tools), By Operation (Rules-Based, Knowledge-Based), By Service (Training,
Professional), By Solution (Automated, Decision & Management Support,
Interaction), By Organization Size (Large Enterprises, SMBs), By Application
(BFSI, Healthcare, Retail, IT & Telecom, Manufacturing, Transportation),
Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
France, Italy, Russia, China, India, Japan, Australia, Singapore, Malaysia,
Brazil, Mexico, UAE, Saudi Arabia, South Africa), Application Potential, Price
Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with
the table of contents:
Europe Robotic process automation market is anticipated to witness significant
growth over the forecast timeline. This can be attributed to the presence of large
number of logistics and manufacturing companies in the region. The technology
helps in rationalizing the pickup & drop operations in order to obtain eminent
advancement in the cycle time and enhance the customer experience. Owing to the
increasing need for customer support across various industry verticals such as BFSI,
IT & telecommunication, government and insurance, the RPA market has significant
potential to grow in Australia.
Companies operating in the industry include Xerox Corporation, Blue Prism, Nice
Systems Ltd., Automation Anywhere, Ipsoft, Celaton Ltd., Pegasystems, Redwood
Software, Uipath and Verint. The industry is currently witnessing heavy investments
in technology by various players to gain high ROI. Moreover, they increasingly
focusing on improving the offerings to meet the rising demand of automation
Segmentation of Robotic Process Automation Market:
RPA market research report includes in-depth coverage of the industry with
estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following
Robotic process automation market, By Service
Training & consulting
Robotic process automation market, By Tools
Robotic process automation market, By Organization Size
Robotic process automation market, By Solution
Decision & management support
Robotic process automation market, By Operation
Robotic process automation market, By Application
Telecom & IT
The above information has been provided for the following regions and countries:
o South Africa
o Saudi Arabia
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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