Robotic Process Automation Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 – 2030

The Global Robotic Process Automation Market Size accounted for USD 1.6 Billion in 2021 and is projected to achieve a market size of USD 25.1 Billion by 2030 rising at a CAGR of 35.9% from 2022 to 2030. Robotic process automation, also known as RPA, is a popular technology that enables businesses to automate recurring tasks using software robots or bots. The growing need for automated technology among various applications such as commercial enterprises is a key driver for robotic process automation (RPA) market growth.

Robotic Process Automation (RPA) Market Report Statistics

• Global robotic process automation market revenue is estimated to reach USD 25.1 Billion by 2030 with a CAGR of 35.9% from 2022 to 2030
• North America robotic process automation market share accounted for over 38% shares in 2021
• According to Wipro estimates, RPA provides at least 15-20% cost benefit in back office operations
• Asia-Pacific robotic process automation market growth will register quick CAGR from 2022 to 2030
• Based on type, software acquired over 60% of the overall market share in 2021
• Increasing demand to manage complex unstructured data will fuel the global robotic process automation market value
• Rising inclination of AI and ML is a popular robotic process automation market trend that is fueling the industry demand

In Small and Medium-scale Enterprises (SMEs) that confront business constraints, regarding money-related and HR designation, the execution of RPA is relied upon to give development roads. The sending of RPA will help an association to keep its activities as lean as could reasonably be expected. Additionally, the utilization of mechanization advancements has turned into an urgent factor to increase long-haul gainful development. These product bots display the most extreme proficiency and can work 24/7*365 on their relegated errand, which brings about accomplishing quickened profitability.

Global Robotic Process Automation Market Dynamics

Market Drivers

• Growing need to automate business process
• Increasing demand to reduce operational cost
• Rising adoption of RPA in healthcare and BFSI sectors
• Advent of COVID-19 pandemic

Market Restraints

• High implementation cost
• Infrastructure issues associated with RPA

Market Opportunities

• Surging investments in the technology by SMEs
• Rising innovations in RPA to accommodate changing consumer demands

Robotic Process Automation Market Report Coverage

Robotic Process Automation Market Growth Factors

The reception of artificial intelligence (AI) and automation solutions has empowered associations to handle such market difficulties while meeting customer desires. In addition, these automation advancements center more on upgrading the worker encounter instead of supplanting them. One such advance increasing quick market footing is the RPA innovation that handles dreary and rule-based errands without human intercession. Consequently, RPA empowers associations to robotize dull capacities and spotlight more on center business errands.

One of the major factors influencing the increased adoption of RPA technology is the growing demand for business process automation. The primary goal of RPA is to document an organization's activities for efficient management. RPA implementation provides advantages such as improved customer experience, improved internal processes, lower operational risk, cost savings, and increased efficiency Organizations are increasingly requiring these solutions to handle complex data and information, as well as to automate business processes. To automate their business processes, key players in the robotic process automation market are incorporating advanced technologies such as cloud, artificial intelligence (AI), machine learning (ML), and cognitive technologies.

Robotic Process Automation Market Segmentation

The global robotic process automation (RPA) market is segmented based on type, deployment, organization size, application, and geography.

Robotic Process Automation Market By Type

• Software
• Services
  • Consulting
  • Implementation
  • Training

According to our robotic process automation RPA market forecast, the services segment is expected to lead the industry with more than 60% share from 2022 to 2030. In addition to that, the services segment commanded rapid growth during the projected timeframe due to rising demand from players to enable high scalability and lessen cost by incorporating RPA as a service.

Robotic Process Automation Market By Deployment

• Cloud
• On-Premise

Based on deployment, the on-premise segment acquired majority of the market share and is likely to continue its trend throughout the forecasted years from 2022 to 2030. On the other hand, cloud-based robotic process automation deployment model is anticipated to witness a record growth during the estimated timeframe from 2022 to 2030.

Robotic Process Automation Market By Organization Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

As per our RPA industry analysis, large enterprises hold a significant market share in 2021 and will continue to do so in the coming few years. This could be attributed to the high and quick demand of RPA adoption to automated process and save millions. Additionally, large enterprises trend of spending more on automation also enables them to acquire latest and customized version of RPA software for their business process. However, SMEs are not lacking behind and are gradually investing more and more on RPA, thus resulting in an impressive growth from 2022 to 2030.

Robotic Process Automation Market By Application

• BFSI
• Manufacturing
• Pharma & Healthcare
• Retail
• Telecom & IT
• Communication and Media & Education
• Logistics and Energy & Utilities
• Others

According to application, BFSI was the most revenue generating segment and accounted over 25% in 2021. The use of RPA in the BFSI sector enables banks and other financial organizations to automate business processes such as account opening, deposits, and loan lending in order to reduce costs. However, the pharma & healthcare segment is expected to grow the fastest during the projected period, owing to increased demand for RPA to automate hospital management systems.

Robotic Process Automation Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Robotic Process Automation (RPA) Market Regional Analysis

North America captures the major market share in 2021 accounting for over 38% of its share and is projected to continue its dominance during the forthcoming. Main parameter contributing to development of this region comprises increase in technology spending and also surge in need for automation by numerous end verticals such as BFSI and manufacturing.

Asia-Pacific is anticipated to observer profitable development forthcoming due to economic growths in countries, for instance, China and India, are anticipated to aid drive the market development. Enormous populace base with increasing ICT spending in the region captures to high need for reasonable treatment options. Europe captured the market share 23% of the global market share during the forecast period. The growth is attributed to increase in inclination towards technological advance thing in the regions. Also, occurrence of target populace base paired with increase their inclination towards technology and automation drives the regional market growth.

Robotic Process Automation Market Players

Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major robotic process automation companies include Automation Anywhere, Blue Prism Limited, EdgeVerve Systems Limited, Kofax Inc., FPT Software, NTT Advanced Technology Corporation, OnviSource, Inc., Pegasystems Inc., UiPath, and Xerox Corporation.