Robotic Process Automation (RPA) Market 2020 – 2026

How will the increasing need for improved organizational processes drive the growth of the robotic process automation market?

Nowadays, several companies are immensely focused on adopting various industrial practices such as Industry 4.0 and Robotic Process Automation (RPA) to improve their process flows and increase overall productivity by reducing human intervention, reducing human errors, digitizing machine processes and streamlining supply Chain process. Indeed, these features have led to the introduction and demand for the automation of robotic processes in various industrial applications. With that in mind, it is estimated that the global robotic process automation market will see tremendous growth over time, as it registers a valuation of more than $ 23 billion by 2026.

The Robotic Process Automation software automates the extensive data processes and enables effective workflow management, financial data sheet management and accounting management. This software also provides a centralized platform for controlling all business processes and enables the information to be checked. By integrating with digital high-end technologies such as AI, natural language processing and machine learning, the RPA software offers added value for intelligent automation processing.

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How are the increasing energy and utility applications supporting the growth of the robotic process automation industry?

Robotic process automation technology has an important use in the energy and utilities sector as it increases the overall efficiency of several back office processes such as meter management, account management, customer billing and power management, etc. For example, UK-based energy company EDF Energy uses RPA to automate manual order entry that used to take 70 hours a month to complete. Apparently, automating eight processes helped the company get six times the return on investment.

Why is the Professional Services segment making significant gains in the robotic process automation market?

Professional services, including support and advisory services, help automate and improve workflows in the organization. In addition, these services help organizations extend RPA to additional services that are more effective and secure. RPA improves the productivity of professional service companies by allowing employees to achieve more in the same amount of time. For example, some of the tasks that require creativity, complex analysis, judgment, or soliciting input from others can be assigned to a bot, while staff can focus on doing other work that is more appropriate for a human. Such benefits that RPA offers for professional services will significantly boost the business space within the given timeframe.

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Why is the Asia Pacific region likely to be a strong growth hub for the robotic process automation market?

The thriving manufacturing and healthcare industries, as well as increasing investments in the IT and telecommunications sectors in the Asia-Pacific region are the main drivers supporting the growth of the regional robotic process automation industry. Additionally, several organizations in the region tend to partner with key leading players to develop and deploy RPA software for the banking and healthcare industries. To illustrate, China Construction Bank opened a branch in Shanghai in 2018 that is managed by AI-powered bots.

How are the strategic initiatives of key players in the robotic process automation industry contributing to their growth?

Major players in the RPA market like Blue Prism Limited, NTT Data Inc., EdgeVerve, Rocket Software Inc., UiPath etc. are focused on developing RPA systems with AI and machine learning to strengthen their product portfolio and generate profits achieve a competitive advantage in the market. In 2020 Infosys launched an AI-based solution called Cognitive Email Workbench, which the company partnered with Blue Prism Ltd. has developed. According to the company, this solution enables companies to improve their query management and help desk operations, which in turn increases productivity and increases customer satisfaction. Now companies are also focusing on mergers and acquisitions to get a foothold in the market. With reference to one instance, SAP SE announced the acquisition of Contextor in 2018 in order to accelerate the expansion and development of its SAP Leonardo machine learning portfolio.

Table of Contents

Chapter 1 Methodology and Scope

1.1 Definitions and forecast parameters

1.1.1 Definitions

1.1.2 Methodology and forecast parameters

1.2 data sources

1.2.1 Secondary

1.2.2 Primary

Chapter 2 Summary

2.1 Robotic process automation industry 360 ° Synopsis, 2016 – 2026

2.1.1 Business development

2.1.2 Service trends

2.1.3 Tool trends

2.1.4 Trends in organization size

2.1.5 Solution trends

2.1.6 Operating trends

2.1.7 Application trends

2.1.8 Regional trends

Chapter 3 Industry Insights

3.1 Industry segmentation

3.2 Effects of COVID-19 on the robotic process automation landscape

3.2.1 Global outlook

3.2.2 Regional impact

3.2.2.1 North America

3.2.2.2 Europe

3.2.2.3 Asia-Pacific

3.2.2.4 Latin America

3.2.2.5 MEA

3.2.3 The industrial value chain

3.2.3.1 Research & Development

3.2.3.2 Marketing

3.2.3.3 Delivery

3.2.4 Competitive landscape

3.2.4.1 Strategy

3.2.4.2 Distribution network

3.2.4.3 Business growth

3.3 Analysis of the industrial ecosystem

3.3.1 Technology provider

3.3.2 Software Developer

3.3.3 End use landscape

3.3.4 Sales channel analysis

3.3.5 Supplier matrix

3.4 Technology and innovation landscape

3.5 Regulatory landscape

3.5.1 North America

3.5.2 Europe

3.5.3 Asia-Pacific

3.5.4 Latin America

3.5.5 MEA

3.6 Influential forces in industry

3.6.1 Growth drivers

3.6.1.1 High demand for minimizing operating costs in companies in North America

3.6.1.2 Rising Demand for RPA in BFSI and IT & Telecom Industries in Asia Pacific

3.6.1.3 Enhanced cooperation and partnership with the government for public sector development in Europe

3.6.1.4 Growing demand for automation in the oil and gas industry in MEA

3.6.1.5 Growing BPO Industry in Latin America

3.6.2 Pitfalls and challenges in the industry

3.6.2.1 High costs related to the technology

3.6.2.2 Lack of awareness of RPA in underdeveloped and emerging economies

3.7 Analysis of the growth potential

3.8 Porter Analysis

3.8.1 Supplier power

3.8.2 Purchasing power

3.8.3 New Entry Threat

3.8.4 Threat from substitutes

3.8.5 Internal rivalry

3.9 PESTEL analysis

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April 21, 2021