About Robotic Process Automation
Robotic Process Automation (RPA) is a software which uses artificial intelligence and machine learning capabilities to handle a high volume, repeatable tasks that previously required humans to perform. With the use of this software, it provides the organization with the ability to reduce staff cost and human error.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Robotic Process Automation market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Blue Prism (United States), Kofax Inc. (United States), IBM (United States), Open Span (United States), Celaton (England), Open Connect Systems Incorporated (United States), Ipsoft (United States), Nice Systems (Isreal), Pegasystems (United System), Redwood Software (Netherlands), Uipath (United States), Verint Systems (United States), Cognizant (United States), Automation Anywhere (United States) and Infosys Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Exilant, Atos Corporation, Xerox, Arago Us and Thoughtonomy.
Segmentation Overview
AMA Research has segmented the market of Global Robotic Process Automation market by Type (Software and Service) and Region.
On the basis of geography, the market of Robotic Process Automation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Deployment Type, the sub-segment i.e. Cloud-Based will boost the Robotic Process Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service , the sub-segment i.e. Consulting will boost the Robotic Process Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance {Card Activation, Frauds Claims and Discovery} will boost the Robotic Process Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. Small & Medium Enterprise will boost the Robotic Process Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement of Technology in the Robotic Process Automation
Market Growth Drivers:
Ease in Business Process with Robotic Process Automation in various Industries, Advantage Associated With Robotic Process Automation as Cost Reduction with Improved Service Delivery and Better Management and Increasing Focus on Automation in the BPO Industry
Challenges:
Lack of Real-Time Visibility As A Standalone Technology
Restraints:
Data Insecurity Hindering the Market For Implementation of Robotic Process Automation
Opportunities:
Technology Advancements and Improvements With Artificial Intelligence Technologies
Market Leaders and their expansionary development strategies
June 2018 - UiPath announced its partnership with Humley, a cognitive assistant platform. This partnership is intended to provide an AI assistant chat solution to UiPath’s customers. Humley would enable a virtual assistant to support RPA management and build voice or chat user interfaces, which would help UiPath’s customers to innovate. Through this partnership, UiPath is creating a robust ecosystem of partners to grow as an RPA provider, with leading partner technologies.
In Jan 2020, OnQ, an industry-leading, healthcare RCM solutions company, launched Robotic Process Automation (RPA) products and services. OnQ’s scalable RPA solutions have improved the quality, created efficiencies, and simplified the processes in medical billing.
Key Target Audience
Raw Material Suppliers, Distributors/Traders/Wholesalers/Suppliers, Regulatory Bodies, Including Government Agencies And NGOs, Commercial Research & Development (R&D) Institutions, Importers and Exporters, Government Organizations, Research Organizations, And Consulting Firms, Trade Associations And Industry Bodies and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.