Robotic Process Automation (RPA) Market 2021 Industry Size, Emerging Technologies, Business Strategy, Company Profile, Future Plans and Forecast 2027
Market Research Future has published a research report on “Robot Process Automation Market Research Report – Forecast to 2027” – Market Analysis, Scope, Share, Progress, Trends and Forecast to 2027.
The Robotic Process Automation (RPA) market will reach $ 2,700 million at a 29% CAGR in the forecast period 2017-2023, according to the new Market Research Future (MRFR) analysis. Robotic process automation, in simple terms, is an application technology that uses software with machine learning and artificial intelligence capabilities to handle high-volume, repeatable tasks. This technology enables employees to configure and program a robot or computer software to interpret existing applications in the organization, to manipulate data, to communicate with digital systems and to process transactions.
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Various factors are fueling the global RPA market size. According to the latest market estimates by MRFR, these factors include the improved operating costs for companies, the increasing use of smartphones, the emergence of ML and AI technology, the demand for enterprise resource planning, the growing need to automate redundant tasks in business processes with AI and ML, and increasing usage during the COVID-19 pandemic for the remote work scenario.
High installation costs of software for robotic process automation, lack of technical know-how, lack of awareness of RTA, and the use of traditional methodologies for business processes in emerging countries can limit the global robotic process automation market growth over the forecast period.
The global robotic process automation market has been segmented based on process, operation, type, and industry. Based on the process, the robotic process automation market will be segmented into Decision Support, Automated Solution, and Management Solution. In addition, the market is divided into tools by type. The global robotic process automation market is also covered based on the operations segment, which is further divided into rule-based. The market is further subdivided according to sectors into Manufacturing & Logistics and IT & Telecommunications.
Factors such as the demand for software with artificial intelligence and machine learning capabilities are supporting the growth of the robotic process automation market. The performance of the robotic process automation market has also been studied in the past and current years. Additionally, the Robotic Process Automation market report includes an analysis of these segments. The Robotic Process Automation market segment analysis included in the report provides important details regarding the Robotic Process Automation market performance and future.
Broadcom Limited (USA), Samsung Electronics Co. Ltd. (South Korea), Huawei Technologies Co. Ltd. (China), LG Corporation (South Korea), Foxconn Technology Group (Taiwan), Fanuc Corporation (Japan), ABB Ltd. (USA), Seiko Epson Corporation (Japan), Nachi Robotic System Inc. (USA), Nice Systems Ltd. (Israel), Pegasystems (USA), Redwood Software (USA), Yaskawa Electric Corporation (Japan), Denso Wave Incorporation (USA) and KUKA Robotics (Germany) are some of the key players in MRFR analysis and are at the forefront of the Competition in the Global Robotic Process Automation (RPA) Market.
Companies in the Robotic Process Automation (RPA) Market are distributed around the world. The Robotic Process Automation (RPA) Market report encompasses vital information related to the regional markets in North America, Europe, Asia Pacific (APAC), and the rest of the world. The North American Robotic Process Automation (RPA) market includes many companies in the United States, Canada, and Mexico. Europe has companies in the Robotic Process Automation (RPA) market in Germany, France, Spain, Italy and the UK. The report also provides a detailed analysis of the Robotic Process Automation (RPA) market in India, China and Japan in Asia Pacific region. The Robotic Process Automation (RPA) market in the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the Robotic Process Automation (RPA) market can be found in the market research report.
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Please note that the evaluation period of the reporting period has been updated from 2017-2023 to 2020-2027. Please fill out the sample form for updated data