Robotic Process Automation (RPA) Market Size to Reach USD 1930 Million by 2025
Bangalore, India, 17th June 2020 / PRNewswire / – RPA is business process automation software that provides tools for configuring custom software robots and automating processes. With RPA you can take control of operational challenges and increase the speed, flexibility and scalability of your business processes.
This report studies Robotic Process Automation (RPA) market size by players, regions, product types and end industries, historical data 2014-2018 and forecast data 2019-2025. The report also studies the global competitive landscape in the market, market drivers and trends, opportunities and challenges, risks and barriers to entry, sales channels, distributors, and Porter’s five forces analysis.
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TRENDS THAT AFFECT RPA MARKET SIZE
RPA systems can be tailored and structured for implementation based on current requirements and regulations. RPA technology enables companies to streamline various standardized processes. This feature is expected to increase the RPA market size over the forecast period.
The digital transformation efforts are expected to accelerate the growth in RPA market size over the forecast period. While RPA software is used in all industries, insurers, banks, and telecommunications companies are the largest users. With this technology, companies will accelerate their digital transformation efforts and unlock the value of previous investments in technology.
Improved employee and customer satisfaction, accelerated productivity gains, and improved compliance are some of the key benefits of implementing RPA. These offered benefits are expected to increase the size of the RPA market.
The use of artificial intelligence (AI) and cognitive computing in robotic process automation has increased dramatically with technological advances. AI and RPA technologies can process large amounts of data and improve decision-making in organizations when implemented together. To improve business processes and achieve organizational goals, cognitive computing, which includes adaptive learning, speech recognition, and design recognition algorithms, is integrated into the RPA. This implementation of RPA with AI and cognitive computing is expected to fuel market growth
RPA MARKET SHARE ANALYSIS
Countries like Great Britain, Germany, and ItalyBecause of the strong manufacturing and automotive sectors, they are the main contributors to the growth of the RPA market.
Asia Pacific Growing consumer electronics products are forcing manufacturers in the production process to use RPA as a means of reducing costs and making efficient use of their workforce. During the forecast period Asia Pacific is expected to have the highest growth rate.
RPA Market by Regions
- North America ((United States, Canada and Mexico)
- Europe ((Germany, UK, France, Italy, Russia and Turkey etc)
- Asia Pacific ((China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America ((Brazil etc)
- middle East and Africa ((Egypt and GCC countries)
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RPA MARKET SEGMENTATION
RPA Market by Product Type
- Healthcare & Pharma
- Manufacturing & logistics
- IT & telecommunications
- retail trade
RPA market company:
- Automation Everywhere (US)
- Blue prism (UK)
- Celaton Ltd (UK)
- Ipsoft (USA)
- Nice Systems Ltd. (Israel)
- Pegasystems (USA)
- Redwood Software (USA)
- Uipath (Romania)
- Verint (USA)
- Xerox Corporation (USA)
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