The global robotic process automation market size was valued at USD 2.90 billion in 2019 to reach USD 27.78 Billion by 2027 and is anticipated to witness a CAGR of 32.6% from 2020 to 2027. Final Report will have an in-depth analysis of the COVID-19 impact on the Robotic Process Automaton Market.
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Market Segmentation: Robotic Process Automation Market by Type (Software and Services); Service (Consulting, Implementation and Training); by Organization Size (SMEs and Large Enterprises); Deployment Mode (Cloud and On-Premise), Application (Banking, Financial Services and Insurance (BFSI), Healthcare and Pharmaceuticals, Manufacturing and Logistics, Telecom and IT, Retail and Consumer Goods, Travel, Hospitality, and Transportation and Others (Energy and utility, government, and academics)) and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027
Drivers responsible for growth in the market include:
• Need for reduced operational costs and increased efficiency
• Growing demand for automation of business processes
• Technological Advancements
Factors restraining market growth:
• Rigidness of employees to switch from manual to automated process
• Data security concerns
Market Opportunities include:
• Adoption of AI and Cloud-based Solutions for Internal Efficiency among SMEs
• High Demand for Robotic Process Automation in the Logistics Industry
The report provides key player analysis along with company revenue shares in order to give a broader overview of the market players in the Robotic Process Automation market. Major players in market are UiPath, NICE, Automation Anywhere, Inc., Pegasystems, Blue Prism, NTT Advanced Technology Corporation, Kofax, EdgeVerve, Genpact Ltd, and IPsoft, Inc. among others.
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